Commercial National Reports 16.71% Earnings Increase

LATROBE, PA / ACCESS Newswire / April 16, 2026 / Commercial National Financial Corporation (OTCQX:CNAF)(Company), parent Company of Commercial Bank & Trust of PA, has reported results for the quarter ended March 31, 2026. The Company earned $503,000 (or $0.18 per average share outstanding) in the first quarter 2026 compared to $431,000 (or $0.15 per average share outstanding) in the first quarter of 2025. Earnings in the first quarter of 2026 increased by $72,000, or 16.71%, compared to earnings recorded in the first quarter of 2025.

The Company's first quarter-end 2026 tax equivalent net interest margin increased to 3.82%. Effective overhead cost containment was primarily attributable to more efficient staffing for operational continuity. Fully insured well diversified core deposits comprised 89.00% of total deposits which very favorably compares to national banking industry metrics. Asset quality remained exceptionally strong across-the-board. Capital adequacy and strength greatly exceeded major banking industry benchmarks. Tier one risk-based, total risk-based, leverage and common equity tier one capital ratios at March 31, 2026 were 25.93%, 26.26%, 14.64% and 25.93% respectively. Tier one capital was $56,600,000 and total risk-based capital was $57,400,000 while book capital reflected a temporary after-tax accumulated other comprehensive loss stemming from net unrealized securities available-for-sale market value depreciation. As with many other insured depository institutions nationwide, the Company's securities portfolio has been adversely impacted by generationally elevated market interest rates and yields.

On August 19, 2025 the Company announced that it had authorized a stock repurchase program for up to 143,048 shares of its common stock, representing five percent of shares currently outstanding. The Company has repurchased 18,190 shares of its common stock as of March 31, 2026, at an average price of $7.94 per share. The Company intends to conduct the repurchases on the open market, including by means of a trading plan adopted under SEC Rule 10b5-1, subject to market conditions and other factors. There is no guarantee as to the number of shares that the Company may ultimately repurchase. The Company may suspend or discontinue the program at any time.

Direct and beneficial ownership by executive officers and directors of the Company's outstanding shares totaled 504,607 shares, or 17.75% on March 31, 2026.

As disclosed each year in the Annual Report to Shareholders, on March 31, 2026, the Company employed 77 people in full-time and part-time positions. Thirty-three (33) employees are represented by the United Auto Workers, Local 1799. Of that bargaining unit total, thirty (30) employees are full-time and there are three (3) part-time employees. The Company has had unionized employees since 1972. In November 2023, the agreement between the Company and the bargaining unit was negotiated and subsequently ratified by the bargaining unit with an effective date of February 15, 2024. The labor agreement will expire in February 2029. The Commonwealth of Pennsylvania and the National Labor Relations Board both afford protection to the organized status of pre-existing collective bargaining units. The Company has been advised that bargaining unit status limits the Company's strategic options relative to those of non-unionized insured depository institutions. The Company continues to consider this as a factor in its strategic and capital management decisions.

The Company operates seven community banking facilities in Hempfield Township, Latrobe, Ligonier, 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.cnbthebankonline.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.

Contract Information:
Wendy Piper
Commercial National Financial Corporation
724.539.3501
[e-mail]

COMMERCIAL NATIONAL FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
(Dollars in thousands, except per share data)

		March 31,				December 31,				March 31,
		2026				2025				2025
ASSETS
Cash and due from banks on demand		$	4,008			$	3,859			$	1,552
Interest bearing deposits with banks			1,448				1,861				4,254
Cash and Cash Equivalents			5,456				5,720				5,806
Securities available for sale			153,316				155,781				152,374
Restricted investments in bank stock			1,013				903				1,371
Loans			168,622				169,951				178,819
Allowance for credit losses			(730	)			(804	)			(865	)
Net loans			167,892				169,147				177,954
Premises and equipment			2,761				2,775				2,997
Accrued interest receivable			2,547				2,226				2,487
Investment in life insurance			19,753				19,619				19,216
Other assets			6,998				6,216				7,452
Total assets		$	359,736			$	362,387			$	369,657
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Deposits
Non-interest bearing		$	152,239			$	150,531			$	147,353
Interest bearing			150,634				154,975				157,061
Total deposits			302,873				305,506				304,414
Short-term borrowings			19,157				17,536				29,662
Other liabilities			1,747				1,594				1,789
Total liabilities			323,777				324,636				335,865
Shareholders' equity
Common stock, par value $2 per share; 10,000,000
shares authorized; 3,600,000 shared issued;
2,842,763, 2,848,446, and 2,860,953 shares outstanding
in March 2026, December 2025, and March 2025,
respectively.			7,200				7,200				7,200
Retained earnings			63,193				63,060				62,556
Accumulated other comprehensive income			(21,745	)			(19,867	)			(23,420	)
Treasury stock, at cost, totaled 757,237, 751,554
and 739,047 shares at March 2026, December 2025
and March 2025, respectively.			(12,689	)			(12,642	)			(12,544	)
Total shareholders' equity			35,959				37,751				33,792
Total liabilities and shareholders' equity		$	359,736			$	362,387			$	369,657

COMMERCIAL NATIONAL FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share data)

		Three Months Ended				Three Months Ended
		March 31,				March 31,
		2026				2025
INTEREST INCOME
Interest and fees on loans			1,986			$	2,027
Interest and dividends on securities:
Taxable			1,051				1,086
Exempt from federal income taxes			441				442
Other			38				53
Total Interest income			3,516				3,608
INTEREST EXPENSE
Interest on deposits			38				49
Interest on short-term borrowings			220				408
Total Interest expense			258				457
NET INTEREST INCOME			3,258				3,151
CREDIT FOR CREDIT LOSSES			(28	)			-
NET INTEREST INCOME AFTER
CREDIT FOR CREDIT LOSSES			3,286				3,151
OTHER OPERATING INCOME
Asset management and trust income			382				379
Service charges on deposit accounts			145				147
Net Security gains			-				(14	)
Income from investment in life insurance			134				133
Other income			44				43
Total other operating income			705				688
OTHER OPERATING EXPENSES
Salaries and employee benefits			1,988				1,953
Net occupancy expense			252				234
Furniture and equipment			164				134
Pennsylvania shares tax			80				80
Legal and professional			154				133
FDIC Insurance			42				44
Other expenses			808				850
Total other operating expenses			3,488				3,428
INCOME BEFORE INCOME TAXES			503				411
Income tax benefit			-				(20	)
Net income		$	503			$	431
Average Shares Outstanding			2,845,507				2,860,953
Earnings Per Share		$	0.18			$	0.15

SOURCE: Commercial National Financial Corp. (Pennsylvania)

View the original press release on ACCESS Newswire


The Commercial National Financial Pa Stock at the time of publication of the news with a raise of +0,12 % to 8,220USD on Nasdaq OTC stock exchange (16. April 2026, 18:40 Uhr).