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May 13, 2008
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CNB Financial Services, Inc. was organized under the laws of West Virginia in March 2000 at the direction of the Board of Directors of CNB Bank, Inc. (CNB) for the purpose of becoming a financial services holding company. CNB Financial Services primary function is to direct plan and coordinate the business activities for CNB and its subsidiary. CNB is a full-service commercial bank conducting general banking and trust activities through six full-service offices and six automated teller machines located in Morgan and Berkeley Counties, West Virginia and Washington County, Maryland.

Financial Highlights

Period ended
(in thousands except per share data)

Selected Financial Data December 31, 2007 December 31, 2006
Total assets
$290,415 $276,069
Secuities available for sale
$66,017 $50,873
Loans and lease, net of unearned income
$202,669 $204,319
Deposits
$226,645 $233,083
Shareholders' equity
$22,821 $20,322

Significant Ratios 12/31/2007 12/31/2006 12/31/2005
Net interest margin
3.53% 3.77% 4.12%
Return on average assets
0.90% 0.92% 1.00%
Return on average shareholders' equity
11.88 12.46 12.91

Summary of Operations Year Ended Year Ended Quarter Ended Quarter Ended
  12/31/2007 12/31/2006 12/31/2007 12/31/2006
Interest income
$17,201 $15,989 $4,441 $4,251
Interest expense
$7,725 $6,269 $2,034 $1,799
Net interest income
$9,476 $9,720 $2,407 $2,452
Provision for loan losses
$169 $275 $40 $46
Net interest income after provision for loan losses
$9,307 $9,445 $2,367 $2,406
Non-interest income
$2,403 $2,025 $621 $472
Non-interest expense
$8,015 $7,817 $2,206 $1,976
Income before income taxes
$3,695 $3,653 $782 $902
Income tax expense
$1,191 $1,263 $222 $321
Gain from discontinued operations
$0 $79 $0 $(1)
Net income
$2,504 $2,469 $560 $580
Basic earnings per share
$5.48 $5.39 $1.24 $1.27

Press Releases
Review our most current Stockholder Press Releases.

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