Exhibit 99.1

News Release
		Contact:		Brian W. Wingard
				Treasurer
				(814) 765-9621
				FOR IMMEDIATE RELEASE

CNB FINANCIAL CORPORATION REPORTS SECOND QUARTER EARNINGS FOR 2014

Clearfield, Pennsylvania – July 21, 2014

CNB Financial Corporation (“CNB”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the second quarter of 2014. Highlights include the following:

Joseph B. Bower, Jr., President and CEO commented, “Our second quarter earnings of $5.6 million is an 8.7% increase from the first quarter, and our year-to-date annualized return on average equity of 12.28% represents a strong return for our shareholders. We continue to expand our footprint in our markets. We have opened a new CNB loan production office in Blair County, PA and will open a full service office for FC Bank in Dublin, OH in August. We have begun construction on our fifth location in Erie County, PA for ERIEBANK. This expansion of our footprint should help us maintain our positive organic growth into 2015.”

Net Interest Income and Margin

Net interest margin on a fully tax equivalent basis was 3.79% for the six months ended June 30, 2014, compared to 3.38% for the six months ended June 30, 2013. Net accretion included in loan interest income in the first six months of 2014 related to loans acquired in the fourth quarter of 2013 was $1.2 million, resulting in an increase in the net interest margin of 12 basis points. Changes in average earning assets, interest-bearing liabilities, and resulting interest income and expense from the first six months of 2013 to the first six months of 2014 are primarily a result of the acquisition of FC Banc Corp. in the fourth quarter of 2013.

Asset Quality

During the three and six months ended June 30, 2014, CNB recorded a provision for loan losses of $1.5 million and $2.5 million, as compared to a provision for loan losses of $3.1 million and $4.0 million for the three and six months ended June 30, 2013. Net chargeoffs during the three and six months ended June 30, 2014 were $767 thousand and $1.3 million, as compared to $1.5 million and $2.6 million for the three and six months ended June 30, 2013.

During the second quarter, CNB increased its reserve for one impaired commercial mortgage loan having a carrying value of $695 thousand that was previously modified in a troubled debt restructuring, resulting in an increase in the provision for loan losses of $484 thousand. In addition, a commercial mortgage loan with a carrying value of $1.9 million became impaired during the second quarter, resulting in an increase in the provision for loan losses of $307 thousand.

Non-Interest Income

Non-interest income was $3.5 million and $6.7 million for the three and six months ended June 30, 2014, compared to $3.8 million and $6.8 million for the three and six months ended June 30, 2013. Non-interest income as a percentage of average assets declined from 0.76% during the first six months of 2013 to 0.63% during the first six months of 2014, primarily due to a decrease in realized gains on available for sale securities of $124 thousand, a decrease in net unrealized gains on trading securities of $257 thousand, a decrease in mortgage banking income of $168 thousand, and a decrease in bank owned life insurance income of $598 thousand. During the quarter ended June 30, 2013, CNB recorded bank owned life insurance income of $576 thousand representing the excess of the face

value of certain policies over their cash surrender values resulting from the recognition of a death benefit. Wealth and asset management fees increased from $1.1 million during the six months ended June 30, 2013 to $1.4 million during the six months ended June 30, 2014 due to increases in assets under management resulting from CNB’s strategic focus to grow its Wealth and Asset Management Division.

Non-Interest Expenses

Total non-interest expenses were $12.6 million and $25.9 million during the three and six months ended June 30, 2014, compared to $10.8 million and $20.5 million for the three and six months ended June 30, 2013. Non-interest expenses for the three and six months ended June 30, 2014 include amortization of a core deposit intangible asset of $301 thousand and $604 thousand associated with CNB’s acquisition of FC Banc Corp. in the fourth quarter of 2013. Non-interest expenses for the three and six months ended June 30, 2013 include merger-related expenses of $828 thousand and $931 thousand.

Salaries and benefits expenses increased $2.7 million, or 26.1%, during the six months ended June 30, 2014 compared to the six months ended June 30, 2013, due to an increase in average full-time equivalent employees resulting primarily from the acquisition of FC Banc Corp., routine merit increases, and increases in certain employee benefit expenses, such as health insurance premiums, which continue to increase in line with market conditions. Net occupancy expenses increased $923 thousand, or 35.5% during the six months ended June 30, 2014 compared to the six months ended June 30, 2013, as a result of anticipated increases in repair, maintenance, and utility expenses, increases in depreciation expense for recently completed projects and asset purchases, and the addition of eight branch locations from the acquisition of FC Banc Corp. Other non-interest expenses increased $2.0 million, or 33.7%, during the six months ended June 30, 2014 compared to the six months ended June 30, 2013, primarily as a result of the acquisition of FC Banc Corp.

About CNB Financial Corporation

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $2.2 billion that conducts business primarily through CNB Bank, 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, a loan production office in Hollidaysburg, Pennsylvania, and 28 full-service offices in Pennsylvania, including ERIEBANK, a division of CNB Bank, as well as 8 full-service offices in central Ohio conducting business as FCBank, 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.” CNB’s actual results may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. For more information about factors that could cause actual results to differ from those discussed in the forward-looking statements, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of and forward-looking statement disclaimers in CNB’s annual and quarterly reports.

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.