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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) announced a quarterly dividend of $0.26 per share, payable on March 5 to shareholders of record as of February 26. As of December 31, 2020, executive officers and directors held 445,969 shares, representing 15.59% of total outstanding shares. The company employs 80 individuals, with a unionized workforce represented by the United Auto Workers, Local 1799 since 1972. The current labor agreement is set to expire in February 2024.
Commercial National Financial Corporation (CNAF) reported a third-quarter 2020 loss of $67,000 ($0.02 per share), a significant decline from a profit of $1,277,000 ($0.45 per share) in Q3 2019. The nine-month earnings fell to $3,201,000 ($1.12 per share) compared to $3,517,000 ($1.23) in the same period last year. A COVID-19 driven loan loss reserve build of $1,700,000 impacted results. Despite this, the net interest margin improved to 4.21%. Capital ratios remain robust, supporting a consistent quarterly dividend of $0.26.
Commercial National Financial Corporation (OTCQX:CNAF) has declared a quarterly dividend of $0.26 per share, payable on September 4, 2020, to shareholders on record as of August 28, 2020. As of June 30, 2020, executive officers and directors owned 16.84% of total shares. The company employs 83 people, of which 32 are represented by the United Auto Workers. The current labor agreement is set to expire in February 2024. Additionally, the company operates nine banking facilities across Pennsylvania.