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LATROBE, PA / ACCESS Newswire / April 18, 2025 / Commercial National Financial Corporation (OTCQX:CNAF) (Company), parent Company of Commercial Bank & Trust of PA, has reported results for the quarter ended March 31, 2025. The Company earned $431,000 (or $0.15 per average share outstanding) in the first quarter 2025 compared to $527,000 (or $0.18 per average share outstanding) in the first quarter of 2024.

The Company's first quarter-end 2025 tax equivalent net interest margin was 3.53%. Effective overhead cost containment was primarily attributable to more efficient staffing for operational continuity. Fully insured well diversified core deposits comprised 87.42% of total deposits which very favorably compares to national banking industry metrics. Asset quality remained exceptionally strong across-the-board. Capital adequacy and strength greatly exceeded major banking industry benchmarks. Tier one risk-based, total risk-based, leverage and common equity tier one capital ratios at March 31, 2025 were 25.19%, 25.57%, 14.15% and 25.19% respectively. Tier one capital was $56,933,000 and total risk-based capital was $57,888,000 while book capital reflected a temporary after-tax accumulated other comprehensive loss stemming from net unrealized securities available-for-sale market value depreciation. As with many other insured depository institutions nationwide, the Company's securities portfolio has been adversely impacted by generationally elevated market interest rates and yields.

Direct and beneficial ownership by executive officers and directors of the Company's outstanding shares totaled 460,757 shares, or 16.11% on March 31, 2025.

As disclosed each year in the Annual Report to Shareholders, on March 31, 2025, the Company employed 78 people in full-time and part-time positions. Thirty three (33) employees are represented by the United Auto Workers, Local 1799. Of that bargaining unit total, thirty (30) employees are full-time and there are three (3) part-time employees. The Company has had unionized employees since 1972. In November 2023, the agreement between the Company and the bargaining unit was negotiated and subsequently ratified by the bargaining unit with an effective date of February 15, 2024. The labor agreement will expire in February 2029. The Commonwealth of Pennsylvania and the National Labor Relations Board both afford protection to the organized status of pre-existing collective bargaining units. The Company has been advised that bargaining unit status limits the Company's strategic options relative to those of non-unionized insured depository institutions. The Company continues to consider this as a factor in its strategic and capital management decisions.