CLEARFIELD — CNB Financial Corp., the parent company of CNB Bank, announced its earnings for the quarter and year ended Dec. 31, 2021.

Joseph B. Bower Jr., President and CEO, stated, “We are pleased to report record earnings to our shareholders coupled with a growing and well-positioned loan portfolio that is poised to benefit with the expected rate increases in 2022. Even excluding PPP fees, 2021 earnings were at a record level for CNB. CNB’s loan pipelines are very promising for positive growth over the next 12 months. The communities we serve have fared well through the pandemic and are reflecting continued growth opportunities. CNB is excited to be a part of their growth with high expectations heading into 2022.”

According to the Executive Summary, the earnings per diluted share of $3.16 for the twelve months ended Dec. 31, 2021, as compared to $1.97 per diluted share for the twelve months ended Dec. 31, 2020, represented a record level for the Corporation. Earnings for 2021 benefited from growth in commercial loans, coupled with strong levels of fee income and continued stable credit quality, in addition to a higher level of PPP-related fees recognized in 2021.

Earnings per diluted share of $0.80 for the fourth quarter of 2021 represented a 100.0% increase from the fourth quarter of 2020 earnings per diluted share of $0.40.