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Commercial National Financial Corporation reports community-bank earnings and capital actions as the parent company of Commercial Bank & Trust of PA. Company updates center on quarterly and annual results, tax-equivalent net interest margin, deposit composition, asset quality, capital ratios, and the effect of interest-rate conditions on securities available for sale.
CNAF news also includes shareholder-return actions such as quarterly dividends and stock repurchase authorization. The company describes its Pennsylvania banking footprint through community banking facilities, a commercial business development sales force, and an asset management and trust division of Commercial Bank & Trust of PA.
Commercial National Financial Corporation (OTCQX:CNAF) reported Q3 2022 earnings of $677,000 ($0.23 per share), a decline from $909,000 ($0.32 per share) in Q3 2021. For the nine-month period, earnings fell to $2,582,000 ($0.90 per share) from $2,978,000 ($1.04 per share) year-over-year. The company's capital ratios as of September 30, 2022, were robust, with tier one capital at 22.05%. Additionally, a property was disposed of successfully, generating a $70,000 gain. However, rising interest rates negatively impacted the securities portfolio.
Commercial National Financial Corporation (OTCQX:CNAF) has declared a quarterly dividend of $0.26 per share, payable on September 2, 2022, to shareholders on record as of August 26, 2022. As of June 30, 2022, executive officers and directors owned 489,660 shares, representing 17.12% of total shares. The company employs 82 personnel, with 34 represented by the United Auto Workers. The labor agreement with the bargaining unit, effective since February 16, 2019, will expire in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) reported Q2 2022 earnings of $932,000 ($0.33 per share), down from $1,001,000 ($0.35 per share) in Q2 2021. For the first six months, earnings were $1,905,000 ($0.67 per share) compared to $2,069,000 ($0.72 per share) in the same period last year. The company maintained strong capital ratios: 21.74% tier one risk-based and 22.55% total risk-based at June 30, 2022. Direct and beneficial ownership by executives totaled 17.12%. The workforce included 82 employees, 34 of whom are unionized, with a labor agreement expiring in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) has announced a quarterly dividend of $0.26 per share, set to be paid on June 3, 2022, to shareholders of record by May 27, 2022. As of March 31, 2022, executive officers and directors hold 17.12% of the company's outstanding shares, totaling 489,660 shares. The company employs 80 individuals, with 32 represented by the United Auto Workers. The current labor agreement is effective until February 2024.
Commercial National Financial Corporation (OTC Markets: CNAF) reported a net income of $973,000 or $0.34 per share for Q1 2022, down from $1,068,000 or $0.37 per share in Q1 2021. The company reported that direct ownership by executives and directors totals 489,660 shares, representing 17.12% of outstanding shares as of March 31, 2022. The firm employs 80 staff members, with 32 represented by a union. The current labor agreement is effective until February 2024. CNAF operates seven banking facilities across Pennsylvania and has strategic considerations regarding its unionized status.
Commercial National Financial Corporation (OTCQX:CNAF) reported its financial results for Q4 2021, earning $1,707,000 ($0.60 per share) compared to $2,512,000 ($0.88 per share) in Q4 2020. For the full year, earnings were $4,685,000 ($1.64 per share) down from $5,713,000 ($2.00 per share) in 2020, reflecting a substantial 2020 loan loss reserve release of $1,700,000. Despite the decline, the company's solid capital position supports ongoing quarterly dividends of $0.26 per share. As of December 31, 2021, executive ownership accounted for 17.09% of shares. The company operates seven banking facilities in Pennsylvania.
Commercial National Financial Corporation (OTCQX:CNAF) announced a quarterly dividend of $0.26 per share, payable on March 4 to shareholders of record as of February 25. The company's executive officers and directors own 17.09% of outstanding shares, totaling 489,071 shares. As of December 31, 2021, the company employed 79 people, with 31 represented by the union. The current labor agreement is set to expire in February 2024. The company operates seven community banking facilities across western Pennsylvania and maintains an asset management division.
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Commercial National Financial Corporation (CNAF) reported fourth quarter 2021 earnings of $1,910,000 ($0.67/share), down from $2,512,000 ($0.88/share) in 2020. For the full year, earnings were $4,888,000 ($1.71/share), a decrease from $5,713,000 ($2.00/share) in 2020. The results included a $1,700,000 loan loss reserve release, ensuring continued $0.26 quarterly dividends for shareholders. Direct ownership by executives totaled 17.09%, and the company employs 79 staff, 31 of whom are unionized, with a labor contract expiring in February 2024.
Commercial National Financial Corporation (OTCQX:CNAF) has announced a quarterly dividend of $0.26 per share, payable on December 3 to shareholders recorded as of November 26. As of September 30, 2021, executive officers and directors hold 17.08% of outstanding shares. The company employs 77 people, with a portion unionized since 1972. The current labor agreement is set to expire in February 2024, potentially affecting strategic options.