CNB Financial Names New CEO

TL;DR

CNB Financial just promoted Michael Weaver to CEO, replacing Scott Ginter.

AI Summary

On July 11, 2024, CNB Financial Corporation announced the appointment of Michael W. Weaver as its new Chief Executive Officer, effective immediately. Weaver, who has been with the company since 2017 and previously served as President, will also join the Board of Directors. He succeeds W. Scott Ginter, who retired.

Why It Matters

A leadership change at the CEO level can signal shifts in company strategy, operational focus, and future performance, impacting investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — CEO transitions can introduce uncertainty regarding future strategy and execution, potentially impacting the company's performance.

Key Players & Entities

• CNB Financial Corporation (company) — Registrant
• Michael W. Weaver (person) — Newly appointed CEO
• W. Scott Ginter (person) — Retiring CEO
• July 11, 2024 (date) — Effective date of appointment

FAQ

Filing Documents

• d864874d8k.htm (8-K) — 26KB
• d864874dex991.htm (EX-99.1) — 11KB
• g864874g0711233918068.jpg (GRAPHIC) — 3KB
• g864874g0711233918336.jpg (GRAPHIC) — 1KB
• 0001193125-24-177735.txt ( ) — 203KB
• ccne-20240711.xsd (EX-101.SCH) — 4KB
• ccne-20240711_def.xml (EX-101.DEF) — 13KB
• ccne-20240711_lab.xml (EX-101.LAB) — 22KB
• ccne-20240711_pre.xml (EX-101.PRE) — 14KB
• d864874d8k_htm.xml (XML) — 6KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 11, 2024 CNB FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 001-39472 25-1450605 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 1 South Second Street PO Box 42 Clearfield , Pennsylvania 16830 (Address of principal executive offices, zip code) Registrant's telephone number, including area code: (814) 765-9621 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, no par value CCNE The NASDAQ Stock Market LLC Depositary Shares (each representing a 1/40th interest in a share of 7.125% Series A Non-Cumulative, Perpetual Preferred Stock) CCNEP The NASDAQ Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item8.01. Other Events On July 11, 2024, CNB Bank (the "Bank"), the wholly-owned banking subsidiary of CNB Financial Corporation (the "Corporation"), announced senior management changes at the Bank as approved by the Bank's board of directors on July 9, 2024. Michael Noah has been promoted to Executive Vice President and Chief Operating Officer of the Bank; Martin Griffith has been appointed as Senior Executive Vice President and Chief Revenue Officer of the Bank; and Richard Greslick has been appointed as Senior Executive Vice President and Chief Administrative Officer of the Bank. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Press Release dated July 11, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CNB FINANCIAL CORPORATION Date: July 11, 2024 By: /s/ Tito L. Lima Tito L. Lima Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR