Commercial National Receives Banking Industry Recognition For Superior Financial Performance And Successful Corporate Governance
LATROBE, Pa., April 13 /PRNewswire-FirstCall/ -- On April 12, 2010, the exemplary financial performance and corporate governance practices of Commercial National Financial Corporation (Nasdaq: CNAF), parent Company of Commercial Bank & Trust of PA, were highlighted during a three-day national banking industry conference which was held in Chicago. The event was organized by Bank Director Magazine for bank presidents, chief executive officers, chairmen, non-executive chairmen and independent lead directors. The headline topic for this conference was "Bank Chairman/CEO Creating High Performance Relationships & Shareholder Value Peer Exchange."
At this event two representatives from Commercial National Financial Corporation were the sole invited speakers for the conference's lead-off session "Secrets of High Performance Bank CEO/Chairman Teams." Commercial National Financial Corporation Vice Chairman, President and Chief Executive Officer Gregg E. Hunter and Independent, Non-Executive Chairman George V. Welty presented to the assembled conference attendees their insights on the keys to a functional relationship between the CEO and the Independent Chairman along with essential dos and don'ts of each party to effectively lead the board and how the success of the CEO/Chairman team relationship can be the difference between being an average performer or a great community bank.
Mr. Hunter has been Chairman, President and Chief Executive Officer of Commercial Bank & Trust of PA (Bank) and Vice Chairman, President and Chief Executive Officer of Commercial National Financial Corporation (Corporation) since February 2004. He previously served as Chief Financial Officer of the Bank and of the Corporation. He has been a Director of both entities since 1995. He is the sole member of management on the board and is a major shareholder in the Corporation. He has held a wide variety of line officer positions at the Bank since beginning his banking career as a management trainee in 1980. He subsequently held positions of assistant branch manager, delinquent loan collector, loan officer, branch manager, consumer compliance officer and company controller. He completed the Stonier Graduate School of Banking program conducted at the University of Delaware in 1999 with an emphasis on asset/liability management.
Mr. Welty has been Independent, Non-Executive Chairman of the Board of Commercial National Financial Corporation (Corporation) since February 2004. He has been a Director of the Corporation and Commercial Bank & Trust of PA (Bank) since 1997 and served as Lead Director of the Corporation in 2003. He is a member of the Executive, Nominating and Corporate Governance, Trust and Asset Quality Committees of the Bank. Mr. Welty received his Bachelor of Arts Degree from Bucknell University in 1968 and his Juris Doctor Degree from Duquesne University in 1976. He has practiced law since 1976 in Ligonier, Pennsylvania, and is a partner in the law firm of Welty & Welty LLP.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 fo r ward-looking statements herein. SOURCE Commercial National Financial Corporation
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