UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 29, 2000
CNB FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
Commission File Number 33-45522
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New York 22-3203747
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
24 Church Street, Canajoharie N.Y. 13317
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(Address of principal executive offices - Zip code)
Registrant's telephone number, include area code (518) 673-3243
<PAGE>
FORM 8K - CURRENT REPORT
Item 1 - None
Item 2 - None
Item 3 - None
Item 4 - None
Item 5 - See attached press release regarding stock repurchase program
Item 6 - None
Item 7 - None
Item 8 - None
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
CNB FINANCIAL CORP.
Registrant
Date: February 29, 2000 By: /s/ PETER J. CORSO
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Peter J. Corso
Executive Vice President and
Chief Financial Officer
24 Church Street
[LOGO] CNB FINANCIAL CORP. Canajoharie, New York 13317
(518)673-3243
FOR IMMEDIATE RELEASE FOR MORE INFORMATION
CONTACT: PETER J. CORSO
(518) 673-3243
CNB FINANCIAL CORP. ANNOUNCES RECORD DIVIDEND
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AND CONTINUATION OF STOCK REPURCHASE PROGRAM
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Canajoharie, NY (February 18, 2000) - CNB Financial Corp. (NASDAQ:CNBF)
announced a 12.5% increase in its first quarter dividend. Directors of Central
National Bank's parent company declared a $0.09 per share dividend, payable on
March 10, 2000 to shareholders of record as of February 29, 2000.
The Company also announced its intention to extend its repurchase agreement and
to purchase up to 754,087 of its outstanding shares in the open market during
the period March 16, 2000 to March 15, 2001. Donald L. Brass, President of CNB
Financial Corp., stated that, "the repurchase agreement was extended as
Management and the Board continue to view the company's stock as an attractive
long term investment."
The shares will be purchased at prevailing market prices from time to time
during the repurchase period, depending upon conditions that exist in the
market. The repurchased shares will be held in Treasury, but may be reissued in
the future in connection with the company's dividend reinvestment plan, to
satisfy the issuing of stock options, or other corporate purposes such as
acquisitions.
CNB Financial Corp. is a bank holding company whose common shares are listed on
the national market system of NASDAQ under the symbol "CNBF". Its principal
office is in Canajoharie, New York. The company operates two subsidiaries:
Central National Bank, Canajoharie, which provides a full range of personal and
commercial banking products as well as personal and business trust services; and
Central Asset Management, Inc., which provides investment advisory services.
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February 18, 2000
