Commercial Bank & Trust Of PA Strength Ranked #27 In Nation And #1 In PA
LATROBE, Pa., Nov. 2, 2010 /PRNewswire/ -- Commercial Bank & Trust of PA (Bank), wholly owned banking subsidiary of Commercial National Financial Corporation (Nasdaq: CNAF), was recently ranked as the 27th strongest bank in the nation. This is the highest ranking of any Pennsylvania bank.
Drawn from June 30, 2010 financials, the ranking was recently publicized by FinStrata's US Bank Rankings. The Bank was included in FinStrata's Select Listed US Banks 200, which includes the highest-ranking banks, measured by six consecutive quarters of financial data. Banks included in this group are restricted to actively traded listed banks whose rolling-average rankings demonstrate consistently superior performance relative to other listed banks. FinStrata's bank rankings highlight companies whose stronger fundamental performances have delivered the best response to today's harsh banking environment. FinStrata is an independent research company.
Commercial National Financial Corporation (Company) recently reported earnings for the quarter ended September 30, 2010. The Company earned $1,392,000 (or $.49 per average share outstanding) in 2010 compared to $1,266,000 (or $.44 per average share outstanding) in 2009. The Company earned $4,123,000 (or $1.44 per average share outstanding) for the nine-month period ended September 30, 2010 and $3,596,000 (or $1.25 per average share outstanding) for the nine-month period ended September 30, 2009. Third quarter 2010 earnings increased 9.95%, or $126,000, and first nine months earnings increased 14.66%, or $527,000.
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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