Commercial National Reports September 30, 2013 Results

LATROBE, Pa., Oct. 25, 2013 /PRNewswire/ -- Commercial National Financial Corporation (OTC Markets: CNAF) (Company), parent Company of Commercial Bank & Trust of PA, has reported results for the quarter ended September 30, 2013. The Company earned $1,361,000 (or $0.47 per average share outstanding) in the third quarter 2013 compared to $1,074,000 (or $0.38 per average share outstanding) in the third quarter 2012. The Company earned $3,811,000 (or $1.33 per average share outstanding) for the nine-month period ended September 30, 2013 and $6,089,000 (or $2.13 per average share outstanding) for the nine-month period ended September 30, 2012. The Company's annualized return on average assets and average equity were 1.48% and 12.25%, respectively, for the quarter ended September 30, 2013 compared to 1.16% and 7.70%, respectively, for the quarter ended September 30, 2012. The Company's annualized return on average assets and average equity for the nine month period ended September 30, 2013 were 1.36% and 10.20%, respectively, compared to 2.14% and 14.74%, respectively, for the nine month period ended September 30, 2012. Tier one risk-based, total risk-based and leverage capital ratios for September 30, 2013 were 22.10%, 22.82% and 13.05%, respectively.

President and Chief Executive Officer, Gregg E. Hunter noted, "Third quarter 2013 earnings of $1,361,000 represented a $287,000, or 26.72%, increase above the $1,074,000 in earnings produced during 2012's third quarter. Comparative earnings for the first nine months of 2013 reflect the $3,317,000 in net realized securities gains generated during 2012's first nine months. The Company's strong core profitability, ample regulatory capital adequacy, exceptional asset quality and uncommon tax efficiency continue to greatly surpass prevailing banking industry standards and all solidly support the regular $0.26 per share common stock quarterly cash dividend payments to our shareholders."

In addition to Latrobe, Pennsylvania where it is headquartered, the Company operates ten community banking facilities in Greensburg, Hempfield Township, Ligonier, North Huntingdon, 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.cbthebank.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.

SOURCE Commercial National Financial Corporation