Exhibit 99

News Release

		Contact:		Charles R. Guarino
				Treasurer
				(814) 765-9621
				FOR IMMEDIATE RELEASE

CNB FINANCIAL CORPORATION REPORTS THIRD QUARTER EARNINGS FOR 2011

Clearfield, Pennsylvania – October 24, 2011

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

Joseph B. Bower, Jr., President and CEO, commented, “An increase of 11.0% in loans over September 30, 2010 is a strong indicator of CNB’s commitment to its communities, and we will continue to lend to our customers when the need arises. This loan volume increase and our improved earnings have further strengthened our market position.”

Net Interest Income and Margin

During the nine months ended September 30, 2011, net interest income increased $4.2 million, or 13.4%, compared to the nine months ended September 30, 2010. Net interest margin on a fully tax equivalent basis was 3.59% for the nine months ended September 30, 2011, compared to 3.70% for the nine months ended September 30, 2010. Increases in earning assets have been offset by decreases in the yield on earning assets. However, the growth in earning assets has outpaced the decline in net interest margin, providing CNB with higher net interest income.

Due to growth in core deposits, interest-bearing liabilities have grown significantly during the last twelve months. Interest-bearing deposits as of September 30, 2011 grew $171.3 million, or 17.6%, as compared to September 30, 2010. However, interest expense for the nine months ended September 30, 2011 decreased by $589 thousand, or 4.2%, compared to the nine months ended September 30, 2010 as a result of decreases in the cost of core deposits in 2011 as well as CNB’s repayment and refinancing of long-term debt in 2010.

Asset Quality

During the nine months ended September 30, 2011, CNB recorded a provision for loan losses of $2.7 million, as compared to a provision for loan losses of $2.6 million for the nine months ended September 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 the end of the first quarter. As of September 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 $1 million during the nine months ended September 30, 2011.

The Corporation has one commercial mortgage customer whose loan relationships have interest-only terms that were extended during 2011. As a result, the loans were downgraded from special mention status to substandard status. The original interest rates on the loans, which are also currently the market rates of interest, were not reduced; therefore, no additional provision for loan losses was required to be recorded. These loans have a total recorded investment of $4.6 million at September 30, 2011.

Non-Interest Income

Net realized and unrealized securities losses during the nine months ended September 30, 2011 were $58 thousand, compared to net realized and unrealized securities gains of $649 thousand for the nine months ended September 30, 2010. During the nine months ended September 30, 2011 and 2010, other-than-temporary impairment charges of $398 thousand and $1.9 million, respectively, were recorded in earnings on structured pooled trust preferred securities. CNB’s remaining exposure in structured pooled trust preferred securities is $1.8 million at September 30, 2011 and no impairment charges were recorded in the second or third quarters of 2011. Excluding the effects of these securities transactions, non-interest income was $7.7 million for the nine months ended September 30, 2011, compared to $7.2 million for the nine months ended September 30, 2010.

Non-Interest Expenses

Total non-interest expenses increased $1.1 million, or 4.8%, during the nine months ended September 30, 2011 compared to the nine months ended September 30, 2010. Salaries and benefits expenses increased $1.2 million, or 9.9%, during the nine months ended September 30, 2011 compared to the nine months ended September 30, 2010, primarily as a result of an increase in full-time equivalent employees from 287 at September 30, 2010 to 297 at September 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, 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 loan production office, a private banking division and 27 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.