Commercial National Declares $.11 Per Share Second Quarter Dividend

Rhea-AI Summary

Commercial National Financial Corporation (OTCQX:CNAF) has declared a quarterly dividend of $0.11 per share, payable on June 6 to shareholders of record as of May 30, 2025. The company's executive officers and directors own 467,957 shares (16.36%) as of March 31, 2025. CNAF operates seven community banking facilities in Pennsylvania and employs 78 people, with 33 employees represented by UAW Local 1799. A new labor agreement was ratified in November 2023, effective from February 15, 2024, and will expire in February 2029. The company acknowledges that its unionized status may limit strategic options compared to non-unionized institutions.

Positive

• Consistent dividend payment maintained at $0.11 per share
• Significant insider ownership at 16.36% indicates management alignment with shareholders
• Stable labor relations with new union agreement extending until 2029

Negative

• Unionized workforce status limits strategic options compared to non-unionized competitors
• Limited geographical presence with only seven banking facilities in Pennsylvania

LATROBE, PA / ACCESS Newswire / May 21, 2025 / Commercial National Financial Corporation (OTCQX:CNAF), parent company of Commercial Bank & Trust of PA, declared a quarterly dividend of $0.11 per share on May 20, 2025 payable on June 6 to shareholders of record as of May 30.

Direct and beneficial ownership by executive officers and directors of the Company's outstanding shares totaled 467,957 shares, or 16.36% on March 31, 2025.

As disclosed each year in the Annual Report to Shareholders, on March 31, 2025, the Company employed 78 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.

Forward Looking Statements

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.

CONTACT:
Wendy Piper
wpiper@cbthebank.com

SOURCE: Commercial National Financial Corp. (Pennsylvania)

View the original press release on ACCESS Newswire

FAQ

What is the dividend amount and payment date for CNAF's Q2 2025 dividend?

CNAF declared a quarterly dividend of $0.11 per share, payable on June 6, 2025, to shareholders of record as of May 30, 2025.

How much of CNAF stock is owned by insiders?

Executive officers and directors own 467,957 shares, representing 16.36% of the company's outstanding shares as of March 31, 2025.

What is the status of CNAF's union agreement?

CNAF's union agreement with UAW Local 1799 was ratified in November 2023, effective from February 15, 2024, and will expire in February 2029.

How many employees does Commercial National Financial Corporation have?

The company employs 78 people in full-time and part-time positions, with 33 employees represented by the United Auto Workers, Local 1799.

Where does Commercial National Financial Corporation operate its banking facilities?

CNAF operates seven community banking facilities in Pennsylvania, specifically in Hempfield Township, Latrobe, Ligonier, Unity Township and West Newton.