CNB Financial Corp. reports record earnings for the second quarter of 1995.

CANAJOHARIE, N.Y.--(BUSINESS WIRE)--July 19, 1995-- CNB Financial Corp. (NASDAQ: CNBF), reported record earnings for the second quarter of 1995.

Earnings for the second quarter of 1995 were $1,483,000, compared with $1,148,000 for the same quarter of 1994, a 29 percent increase. On a per share basis this represents $0.56 compared to $0.46 for the same period last year.

For the first half, net earnings increased to $3,177,000 up $604,000, a 23 percent increase from $2,573,000 or $1.18 earnings per share versus $1.07 earnings per share.

Return on average assets for the year was 1.22 percent, a 9 percent increase from the 1.12 percent of last year. The return on stockholders' equity increased from 13.63 percent to 15.21 percent for the respected periods.

The Bank's asset quality improved during the quarter as the non-performing loans decreased by $319,000 to $2,884,000, which represents 1 percent of the total loans.

CNB Financial Corp., is the parent company of Central National Bank, both headquartered in Canajoharie, New York. Central National Bank has seventeen full service offices located throughout six counties in Central New York.

CONTACT: Peter J. Corso, 518-673-4245