Exhibit 99.1

CNB FINANCIAL CORPORATION | 2010 ANNUAL REPORT HIGHLIGHTS

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TABLE OF

CONTENTS

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Consolidated Financial Highlights

(in thousands, except per share data)

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MESSAGE TO

SHAREHOLDERS

To Our Shareholders, Customers, Employees & Friends:

Twelve months ago, I shared the optimism CNB Financial Corporation felt as the economy showed signs of recovery during the last quarter of 2009. CNB was in an excellent position to help the communities we serve to grow again after many months of recession. Through strategies executed during 2010, CNB is now in an even better position to allow for economic growth to continue.

In April of 2010, CNB’s Board of Directors decided to pursue a common stock offering. The additional capital was necessary primarily as a result of the outstanding growth that CNB had experienced beginning in 2007 as assets grew from $781 million to $1.2 billion. In addition to the growth, we believe that the solid growth potential will continue into 2011 and 2012. Finally, the uncertainty surrounding increased regulation created a need across the financial services industry for higher levels of common equity. The end result was a highly successful capital raise of $34.5 million. The market was very receptive to CNB’s continuing story of positive balance sheet growth coupled with solid core earnings and stable asset quality.

The successful common stock offering was one of the ways our capital improved. CNB’s continued strong earnings in 2010 added to our capital position. Our Corporation reported record earnings of $11.3 million, or $1.06 per share, an increase of 32.9% over the prior year earnings of $8.5 million. The 2010 earnings allowed for our equity to grow by an additional $5 million after dividends were paid to our shareholders. CNB continues to remain well above all regulatory capital ratios.

A significant contribution to our increased earnings was the large growth in earning assets during 2010. Loans grew 11.1% while investments increased 45% over 2009 levels. This growth was critical to increasing our overall earnings as the net interest margin declined from 4.0% in 2009 to 3.7% for 2010. Many factors contributed to the reduction of the margin, but the foremost cause is lower yields within our securities portfolio caused by the historically low interest rate cycle that we have been experiencing since early 2009. As we are able to move more assets into the loan portfolio, the margin will begin to improve.

Our earning asset growth was driven by the third consecutive year of excellent core deposit gathering. Total deposits grew $206 million or 21.5% during the year. With our strong equity position, CNB remains aggressive in the acquisition of new customers. Our permanent ERIEBANK Meadville store opened in May of 2010, while CNB Bank opened a new office in Kylertown in September, bringing our franchise to a total of 28 banking locations in the state of Pennsylvania. The new locations are proving valuable to our strategy of gaining core deposit relationships.

CNB FINANCIAL CORPORATION | 2010 ANNUAL REPORT HIGHLIGHTS

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Message to Shareholders continued…

Asset quality continued to be an issue for the financial services industry during 2010, and CNB was not immune. The ratio of net charge-offs to average loans increased this year to 0.56% as compared to 0.49% in 2009. This was primarily due to a $1.8 million charge to one loan during the fourth quarter. Management does not expect any further charge on the remaining $6.0 million loan balance. Overall, CNB’s asset quality improved during the year as nonperforming assets decreased as a percentage of loans to 1.66% from 1.90% at December 31, 2009. These ratios remain very favorable as compared to our peer group and a true testament to our credit standards and underwriting.

As we look forward to 2011 and beyond, I would like to thank all of our long-term shareholders that have enjoyed CNB’s growth and prosperity through the years as well as welcome all of our new shareholders that helped us execute a successful capital raise this year. With this strength, CNB’s team is looking forward to all of the opportunities in our region that will come as the economy continues to rebuild.

Joseph B. Bower, Jr.

President and Chief Executive Officer

CNB FINANCIAL CORPORATION | 2010 ANNUAL REPORT HIGHLIGHTS

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EXECUTIVE MANAGEMENT

& BOARD OF DIRECTORS

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OFFICERS

CNB FINANCIAL CORPORATION | 2010 ANNUAL REPORT HIGHLIGHTS

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OFFICERS

& AFFILIATES

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SHAREHOLDER

INFORMATION

CNB FINANCIAL CORPORATION | 2010 ANNUAL REPORT HIGHLIGHTS

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