CNAF Commercial National Financial Corp. (MM)

LATROBE, Pa., Feb. 7, 2012 /PRNewswire/ -- Commercial National Financial Corporation (NASDAQ:CNAF)(Company), parent Company of Commercial Bank & Trust of PA, has reported earnings for the year ended December 31, 2011. The Company earned $6,715,000 (or $2.35 per average share outstanding) compared to $5,501,000 (or $1.92 per average share outstanding) in 2010. Earnings for the fourth quarter of 2011 were $1,989,000 (or $.70 per average share outstanding) compared to $1,378,000 (or $.48 per average share outstanding) for the same period in 2010. Full year earnings increased $1,214,000, or 22.1%, while fourth quarter earnings increased $611,000, or 44.3%.

Gregg E. Hunter, President and Chief Executive Officer noted, "Core earnings progressively strengthened throughout 2011 on a linked-quarter basis and in comparison to the quarterly results of 2010.  The Company's above banking industry standard financial performance remains firmly based upon strong asset quality, very high tax-equivalent net interest margin and ample capital adequacy in conjunction with the complimentary balanced optionalities and proportional volumes of the Company's various assets and liabilities.  Through hard work, constant vigilance and measured risk management our Company continued to derive maximum benefit from pronounced yield curve slope during all of 2011.  The Company begins 2012 exceedingly well-positioned for comparative earnings success."

Mr. Hunter added, "The Company's superior core financial performance and strong capital base continue to solidly support very attractive and reliable quarterly cash dividend payments to the Company's common stock shareholders. Maintaining a meaningful quarterly cash dividend stream to our shareholders remains a top priority for the Company. High cash dividends and high dividend yields also provide solid support for Commercial National's very favorable common stock market share price valuations."

In addition to Latrobe, Pennsylvania where it is headquartered, the Company operates community-banking facilities in Greensburg, Hempfield Township, Ligonier, North Huntingdon, Unity Township and West Newton, Pennsylvania and also maintains a commercial business development sales force throughout its entire market area. The Company operates an asset management and trust division of Commercial Bank & Trust of PA headquartered in Greensburg, Pennsylvania. Commercial Bank & Trust of PA also serves its customer base from an Internet banking site (www.cbthebank.com) and an automated TouchTone Teller banking system.

Safe Harbor Statement

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements are based on information currently available to the Company, and the Company assumes no obligation to update these statements as circumstances change. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems, and the Company's ability to execute its business plans.  The actual results of future events could differ materially from those stated in any forward-looking statements herein. The review period for subsequent events extends up to and including the filing date of a public company's consolidated financial statements when filed with the Securities and Exchange Commission ("SEC"). Accordingly, the financial information in this announcement is subject to change.

SOURCE Commercial National Financial Corporation