The Board of Directors of CNB Financial Corporation has elected Michael Peduzzi, President and Chief Operating Officer of CNB Bank, to the CNB Bank Board of Directors effective January 1, 2022.
Mr. Peduzzi was hired as President and Chief Operating Officer of CNB Bank in August 2021. In this role, Mr. Peduzzi leads the bank in the execution of the strategic plan. He works with the Chief Executive Officer and Board of Directors of CNB to develop and direct the financial policies and practices of the bank’s retail, commercial, wealth management, and private banking divisions to ensure that financial objectives, goals, and institutional growth targets are met. Along with other members of the CNB executive management team, he will develop and implement bank-wide strategies aimed at achieving the growth and profitability necessary to ensure optimum shareholder returns while complying with government regulations and sound financial practices.
Commenting on the announcement, Peter F. Smith, Chairperson of CNB Bank’s Board of Directors stated, "I am very excited about the talent and enthusiasm that Mike brings to CNB. His fresh leadership will take CNB to the next level."
Mr. Peduzzi has over 34 years of experience in banking and financial services, having most recently served as Senior Executive Vice President & Chief Financial Officer of a Pennsylvania community bank. During this time, he has served on the Board of Directors of the Pennsylvania Association of Community Bankers.
A native of Ebensburg, PA, Mr. Peduzzi graduated from Bishop Carroll High School. He later graduated from The Pennsylvania State University with a Bachelor of Science degree in accounting. Mr. Peduzzi is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA). He has served a three-year term on the PICPA state committee on professional ethics, and a four-year term on the PICPA state committee on internal audit, including a term as Chairman. Mr. Peduzzi has also been a member of the Advisory Board of The Pennsylvania State University – York, since 2016.
The appointment of Mr. Peduzzi is the culmination of an active management succession planning process the board initiated several years ago to ensure an orderly transition of management. The board looks forward to working with Mr. Peduzzi to continue the bank’s growth and leadership in the communities it serves while maintaining the rich heritage and tradition of superior service to its customers.
About CNB Financial Corporation and CNB Bank
Based on strong, traditional values, CNB Bank is dedicated to being the premier, financial service provider in our communities, focused on the changing needs of people and businesses by providing the highest quality service.
CNB Financial Corporation is a financial holding company with consolidated assets of approximately $5.2 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. 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, two loan production offices, one drive-up office and 44 full-service offices in Pennsylvania, Ohio, New York and Virginia. CNB Bank’s divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in northwest Pennsylvania and northeast Ohio; FCBank, based in Worthington, Ohio, with offices in central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in northern New York; and Ridge View Bank, with loan production offices in Roanoke and Smith Mountain Lake, Virginia. CNB Bank is headquartered in Clearfield, Pennsylvania, with offices in central and north central Pennsylvania. For more information visit www.CNBBank.bank