Cnb Financial Corppa (CCNE) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Exhibit 99.1

CNB FINANCIAL CORPORATION REPORTS YEAR END 2015 EARNINGS,

HIGHLIGHTED BY STRONG ORGANIC LOAN GROWTH

Clearfield, Pennsylvania – January 29, 2016

CNB Financial Corporation (“CNB”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the year ended December 31, 2015. Highlights include the following:

In December 2015, CNB announced the acquisition of Lake National Bank, headquartered in Mentor, Ohio, which is expected to close in the third quarter of 2016.

Joseph B. Bower, Jr., President and CEO commented, “We are very excited to have Lake National as part of our ERIEBANK team. Our strategy of growing organically is enhanced by the markets in which they are located and which they are already developing. CNB’s loan growth in 2015 was extremely positive. Our outlook for the next several quarters, however, is good but not as rapid as last year. Competitive pressures from banks and non-bank competition are resulting in lower projected growth for 2016 as we maintain our pricing and credit quality discipline.”

Net Interest Margin

Net interest margin on a fully tax equivalent basis was 3.73% for both the three months and year ended December 31, 2015, compared to 3.94% and 3.82% for the three months and year ended December 31, 2014. Net accretion included in loan interest income related to acquired loans was $358 thousand and $2.2 million for the three months and year ended December 31, 2015, resulting in an increase in the net interest margin of 8 basis points and 11 basis points, respectively. Net accretion included in loan interest income related to acquired loans was $1.2 million and $2.9 million for the three months and year ended December 31, 2014, resulting in an increase in the net interest margin of 23 basis points and 14 basis points, respectively.

During 2015, CNB experienced net interest margin compression as a result of loans repricing downward and new loans with market yields significantly below historical averages, which is consistent with the trends across the financial services industry in this historically low interest rate environment. The cost of interest-bearing deposits was 53 basis points during the year ended December 31, 2015, compared to 51 basis points during the year ended December 31, 2014.