Exhibit 99

News Release

CNB FINANCIAL CORPORATION REPORTS SECOND QUARTER EARNINGS FOR 2011

Clearfield, Pennsylvania – July 25, 2011

CNB Financial Corporation (“CNB”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the second quarter and first six months of 2011. Highlights include the following:

Joseph B. Bower, Jr., President and CEO, commented, “Loan growth in the second quarter of $29 million is very positive for CNB. It marks the first quarter of loan growth exceeding deposit growth for several years. We expect that development, along with positive signs for our local job markets, will positively impact our financial performance for the second half of 2011.”

Net Interest Income and Margin

During the six months ended June 30, 2011, net interest income increased $3.1 million, or 15.3%, compared to the six months ended June, 2010. Net interest margin on a fully tax equivalent basis was 3.55% for the six months ended June 30, 2011, compared to 3.67% for the six months ended June 30, 2010. Although earning assets continue to grow, these increases have been offset by decreases in the yield on earning assets as a result of the current interest rate environment.

Due to growth in core deposits, interest-bearing liabilities have grown significantly during the last twelve months. Interest-bearing deposits as of June 30, 2011 grew $143.4 million, or 15.0%, as compared to June 30, 2010. However, interest expense for the six months ended June 30, 2011 decreased by $470 thousand, or 5.0%, compared to the six months ended June 30, 2010 as a result of decreases in the cost of core deposits as well as CNB’s repayment and refinancing of long-term debt in 2010.

Asset Quality

During the six months ended June 30, 2011, CNB recorded a provision for loan losses of $1.8 million, as compared to a provision for loan losses of $1.7 million for the six months ended June 30, 2010. One relationship comprising three commercial loans became impaired in the first quarter of 2011, resulting in an increase in non-accrual loans of $4.4 million. As of June 30, 2011, one of these loans in the amount of $1.4 million remains on non-accrual status. Based on CNB’s evaluation of the underlying collateral, no losses associated with this relationship are expected. In addition, one relationship comprising two commercial loans became impaired in the second quarter of 2011, resulting in an increase in non-accrual loans of $4.2 million and an increase in the allowance for loan losses of $433 thousand.

Non-Interest Income

Net realized and unrealized securities gains during the six months ended June 30, 2011 were $171 thousand, compared to net realized and unrealized securities gains of $516 thousand for the six months ended June 30, 2010. During the six months ended June 30, 2011 and 2010, an other-than-temporary impairment charge of $398 thousand and $1.1 million, respectively, was recorded in earnings on structured pooled trust preferred securities. CNB’s remaining exposure in structured pooled trust preferred securities is $1.8 million at June 30, 2011. Excluding the effects of these securities transactions, non-interest income was $5.0 million for the six months ended June 30, 2011, compared to $4.7 million for the six months ended June 30, 2010.

Non-Interest Expenses

Total non-interest expenses increased $941 thousand, or 6.1%, during the six months ended June 30, 2011 compared to the six months ended June, 2010. Salaries and benefits expenses increased $749 thousand, or 9.7%, during the six months ended June 30, 2011 compared to the six months ended June 30, 2010, primarily as a result of an increase in full-time equivalent employees from 287 at June 30, 2010 to 296 at June 30, 2011.

About CNB Financial Corporation

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $1.5 billion that conducts business primarily through CNB Bank, the CNB’s principal subsidiary. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division and 26 full-service offices in Pennsylvania, including ERIEBANK, a division of CNB Bank. More information about CNB and CNB Bank may be found on the internet at www.bankcnb.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to CNB’s financial condition, liquidity, results of operations, future performance and business. These forward-looking statements are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond CNB’s control). Forward-looking statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would” and “could.” Such known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements include, but are not limited to: changes in general business, industry or economic conditions or competition; changes in any applicable law, rule, regulation, policy, guideline or practice governing or affecting financial holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise; adverse changes or conditions in capital and financial markets; changes in interest rates; higher than expected costs or other difficulties related to integration of combined or merged businesses; the inability to realize expected cost savings or achieve other anticipated benefits in connection with business combinations and other acquisitions; changes in the quality or composition of CNB’s loan and investment portfolios; adequacy of loan loss reserves; increased competition; loss of certain key officers; continued relationships with major customers; deposit attrition; rapidly changing technology; unanticipated regulatory or judicial proceedings and liabilities and other costs; changes in the cost of funds, demand for loan products or demand for financial services; and other economic, competitive, governmental or technological factors affecting CNB’s operations, markets, products, services and prices. Some of these and other factors are discussed in CNB’s annual and quarterly reports previously filed with the SEC. Such factors could cause actual results to differ materially from those in the forward-looking statements.

The forward-looking statements are based upon management’s beliefs and assumptions and are made as of the date of this press release. CNB undertakes no obligation to publicly update or revise any forward-looking statements included in this press release or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise, except to the extent required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur and you should not put undue reliance on any forward-looking statements.

Financial Tables

The following tables supplement the financial highlights described previously for CNB Financial Corporation.