Exhibit 99.1

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

CNB FINANCIAL CORPORATION REPORTS 2014 EARNINGS

Clearfield, Pennsylvania – January 30, 2015

CNB Financial Corporation (“CNB”) (NASDAQ: CCNE), the parent company of CNB Bank, today announced its earnings for the year ended December 31, 2014. Highlights include the following:

Joseph B. Bower, Jr., President and CEO commented, “We are pleased to report record earnings of $23.1 million in 2014, resulting in a return on average equity to our shareholders of 12.76%. This past year, CNB focused on the integration of the recent acquisition of FCBank. Our challenges were to manage the asset quality to appropriate levels while instilling our culture of true relationship banking into the marketplace. We feel we have been very successful in both areas as our asset quality metrics are well below peer groups and our culture has already begun to pay dividends in the market.”

Net Interest Income and Margin

Net interest margin on a fully tax equivalent basis was 3.94% and 3.82% for the three months and year ended December 31, 2014, compared to 3.70% and 3.47% for the three months and year ended December 31, 2013. Net accretion included in loan interest income related to loans acquired in the fourth quarter of 2013 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. Changes in average earning assets, interest-bearing liabilities, and resulting interest income in 2014 compared to 2013 are primarily a result of the acquisition of FC Banc Corp. in the fourth quarter of 2013.

Asset Quality

During the year ended December 31, 2014, CNB recorded a provision for loan losses of $3.8 million, as compared to a provision for loan losses of $6.1 million for the year ended December 31, 2013. The provision for loan losses was $282 thousand and $1.2 million for the three months ended December 31, 2014 and 2013, respectively. Net chargeoffs during the year ended December 31, 2014 were $2.7 million, as compared to net chargeoffs of $4.0 million during the year ended December 31, 2013, and the ratio of net chargeoffs to average loans was 0.21% and 0.38% for the years ended December 31, 2014 and 2013, respectively.

During the fourth quarter, the CNB recorded an additional reserve for an impaired commercial real estate loan of $652 thousand. The ratio of nonperforming assets to total assets declined from 0.55% at September 30, 2014 to 0.47% at December 31, 2014. In addition, two commercial and industrial loan relationships that had previously been classified as substandard totaling $11.4 million were paid in full during the quarter ended December 31, 2014, resulting in a reduction of the allowance for loan losses of $1.3 million.

Non-Interest Income

Excluding the effects of securities transactions, non-interest income was $13.8 million for the year ended December 31, 2014, compared to $12.7 million for the year ended December 31, 2013. Net realized gains on available-for-sale securities were $429 thousand during the year ended December 31, 2014, compared to $355 thousand during the year ended December 31, 2013. Net realized and unrealized gains on trading securities were $121 thousand during the year ended December 31, 2014, compared to $728 thousand during the year ended December 31, 2013.

Wealth and asset management fees increased to $2.9 million for the year ended December 31, 2014, from $2.4 million during the year ended December 31, 2013 due to increases in assets under management resulting from CNB’s strategic focus to grow its Wealth and Asset Management Division. Income recorded from bank owned life insurance policies decreased to $1.0 million for the year ended December 31, 2014, from $1.6 million during the year ended December 31, 2013. The 2013 income included $576 thousand representing the excess of the face value of certain policies over their cash surrender values resulting from the maturity of the policies.

Non-Interest Expenses

Total non-interest expenses were $52.7 million during the year ended December 31, 2014, compared to $43.8 million during the year ended December 31, 2013. CNB recorded amortization expense associated with a core deposit intangible asset of $1.2 million and $251 thousand during the years ended December 31, 2014 and 2013, respectively. Non-interest expenses for the year ended December 31, 2013 include merger-related expenses of $2.4 million in connection with CNB’s acquisition of FC Banc Corp. in the fourth quarter of 2013.

Salaries and benefits expenses increased $5.3 million, or 24.3%, during the year ended December 31, 2014 compared to the year ended December 31, 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 $1.4 million, or 25.5% during the year ended December 31, 2014 compared to the year ended December 31, 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 $3.6 million, or 28.5%, during the year ended December 31, 2014 compared to the year ended December 31, 2013, primarily as a result of the acquisition of FC Banc Corp.

The ratio of non-interest expenses to average assets was 2.43% and 2.31% during the years ended December 31, 2014 and 2013, respectively.

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, loan production offices in Hollidaysburg, Pennsylvania and Ashtabula, Ohio, and 28 full-service offices in Pennsylvania, including ERIEBANK, a division of CNB Bank, as well as 9 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.

* - Tangible common equity, tangible assets and tangible book value per share are non-GAAP financial measures calculated using GAAP amounts. Tangible common equity is calculated by excluding the balance of goodwill and other intangible assets from the calculation of stockholders’ equity. Tangible assets is calculated by excluding the balance of goodwill and other intangible assets from the calculation of total assets. Tangible book value per share is calculated by dividing tangible common equity by the number of shares outstanding. CNB believes that these non-GAAP financial measures provide information to investors that is useful in understanding its financial condition. Because not all companies use the same calculation of tangible common equity and tangible assets, this presentation may not be comparable to other similarly titled measures calculated by other companies. A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

** - Nonperforming TDR loans are also included in the balance of non-accrual loans in the previous table.