Commercial National Financial Explained

Commercial National Financial Corporation
Type:Public
Industry:Financial services
Foundation:[1]
Location:Latrobe, Pennsylvania, United States
Key People:Howard Poindexter (chairman)
Jeffrey Barker (CEO)
Operating Income: US$ 15,468 million (2012)[2]
Net Income: US$ 7,265 million (2012)
Assets: US$ 373,062 million (2012)
Equity: US$ 52,766 million (2012)

Commercial National Financial Corporation is a registered financial holding company under the Bank Holding Company Act of 1956 as amended.[3] [4] The company wholly owns Commercial Bank & Trust of PA under the Bank Holding Company Act.[5] The company's principal business is the operation of Commercial Bank & Trust of PA, which offers various commercial banking and trust services including offering deposit services, providing financial counseling, investing and extending credit.[6] [7] Commercial National Financial Corporation uses CNAF as the trading symbol on the OTCQX tier of the OTC Markets.[8]

History

In May 1934, Commercial Bank & Trust of PA was established in the Latrobe office of the former Peoples National Bank. Today, the company still use this building as administrative headquarters and the main retail office.[9]

In 2008, the Corporation entered into a Stock Purchase Agreement with the shareholders of Ridge Properties Inc. to purchase Ridge Properties Inc, which is a Pennsylvania corporation whose asset is Commercial National Financial Corporation stock.[10] [11]

In June, 2012, the Corporation declared that its board of directors approved the voluntary delisting of its common stock from NASDAQ and the deregistration of the company's common stock with the Securities and Exchange Commission (SEC).[12]

Notes and References

  1. Web site: Foundation time.
  2. Web site: Selected Financial Data. 2013-12-14. https://web.archive.org/web/20131214151006/http://www.cnbthebankonline.com/home/fiFiles/static/documents/2012AnnualReport.pdf. 2013-12-14. dead.
  3. http://quote.morningstar.com/stock-filing/Annual-Report/2011/12/31/t.aspx?t=PINX:CNAF&ft=10-K&d=b8a1a3944c84bfbba44eaac01cd7a29b General business in Annual Report
  4. Web site: Google Finance - Stock Market Prices, Real-time Quotes & Business News . 2023-05-10 . www.google.com . en-US.
  5. Web site: Commercial National Financial Corporation (CNAF) Company Profile & Facts - Yahoo Finance . 2023-05-10 . finance.yahoo.com . en-US.
  6. Web site: Commercial Bank and Trust of PA - About Us - Investor Relations . 2013-12-14 . dead . https://web.archive.org/web/20131214151234/http://www.cnbthebankonline.com/home/about/career . 2013-12-14 . Business Services in Homepage
  7. Web site: Commercial National Financial Corporation (CNAF) Company Profile & Facts - Yahoo Finance . 2023-05-10 . finance.yahoo.com . en-US.
  8. Web site: Commercial Bank and Trust of PA - About Us - Investor Relations . 2013-12-14 . dead . https://web.archive.org/web/20131214151234/http://www.cnbthebankonline.com/home/about/career . 2013-12-14 . Trading symbols
  9. Web site: Commercial National Bank, Greensburg, USA Head office, swift, bank profile . 2023-05-10 . banksdaily.com.
  10. Web site: COMMERCIAL NATIONAL FINANCIAL CORP, Form 8-K, Current Report, Entry into a Material Definitive Agreement to Purchase Ridge Properties Inc，Filing Date May 5, 2008 . secdatabase.com . May 15, 2018.
  11. http://quote.morningstar.com/stock-filing/Annual-Report/2011/12/31/t.aspx?t=PINX:CNAF&ft=10-K&d=b8a1a3944c84bfbba44eaac01cd7a29b The Corporation purchased Ridge Properties Inc.
  12. https://www.reuters.com/finance/stocks/CNAF.PK/key-developments/article/2559712 Stock

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Commercial National Financial".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.