Exhibit 99

News Release

Contact:	Charles R. Guarino
	Treasurer
(814)765-9621
	FOR IMMEDIATE RELEASE

CNB FINANCIAL CORPORATION REPORTS RECORD EARNINGS FOR 2006

Clearfield, Pennsylvania – January 22, 2007

CNB Financial Corporation (Nasdaq:CCNE), the parent company of CNB Bank, today announced record annual earnings for the year ended December 31, 2006 of $9.6 million or $1.07 diluted earnings per share compared to $9.1 million or $1.00 diluted earnings per share for 2005, representing a 5.3% increase in net income and a 7.0% increase in diluted earnings per share. Net income in the fourth quarter of 2006 was $2.5 million or $0.28 diluted earnings per share compared to $2.5 million or $0.27 diluted earnings per share in the fourth quarter of 2005.

William F. Falger, President and Chief Executive Officer, commented, “We are very pleased to announce our record annual earnings which were driven by solid growth in our net interest income. Net interest income grew at a rate of 9.1% during the year resulting primarily from interest income from loans as our net loans outstanding grew at a rate of 7.1%.”

Mr. Falger also stated, “Our loan performance during 2006 was enhanced by growth in the Erie, Pennsylvania market through CNB Bank’s ERIEBANK division as well as growth in the Warren, Pennsylvania market resulting from the opening of our full service office in that community. Also, during the year we added three new offices for our consumer discount company, Holiday Financial Services, which provided additional loan growth. In addition to the loan growth, we realized deposit growth of $12.8 million, or 2.1%. Finally, we were pleased to be able to maintain our asset quality with nonperforming assets at 0.23% of year end assets compared to 0.28% at the end of 2005.”

Financial Highlights (in thousands) (unaudited)
Consolidated Balance Sheets		31-Dec-06		31-Dec-05
		Consolidated		Consolidated
Assets
Cash and due from banks	$	18,530	$	19,146
Interest-bearing deposits		7,021		23,871
CASH & CASH EQUIVALENTS		25,551		43,017
Securities available for sale		156,696		161,897
Loans held for sale		2,420		2,733
NET LOANS		540,934		505,010
FHLB & Federal Reserve Stock		5,321		4,789
Premises & Equipment, Net		16,237		13,912
Bank Owned Life Insurance		14,484		13,797
Intangible, net		11,206		11,621
Accrued Interest & Other Assets		8,001		7,242
TOTAL ASSETS	$	780,850	$	764,018
Liabilities
Deposits
Non-interest bearing deposits	$	82,574	$	80,874
Interest bearing deposits		548,748		537,629
TOTAL DEPOSITS		631,322		618,503
Short-term borrowings		2,000		2,000
Other borrowings		57,885		58,250
Subordinated Debentures		10,310		10,310
Accrued expenses and other liabilities		7,047		4,987
TOTAL LIABILITIES		708,564		694,050
Shareholders' Equity
Common stock (1)		-		9,234
Additional paid-in capital		13,250		4,160
Retained earnings		62,957		58,439
Treasury stock, (369,546 shares for 2006
and 209,596 shares for 2005)		(5,271)		(3,031)
Accumulated other comprehensive income		1,350		1,166
TOTAL SHAREHOLDERS' EQUITY		72,286		69,968
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$	780,850	$	764,018
Nonperforming Assets		$1,800	$	2,108
% of Total Assets		0.23%		0.28%
Trust Assets	$	206,899	$	179,738

Consolidated Income Statement		For Quarter Ended				Year To Date
	31-Dec-06		31-Dec-05			31-Dec-06	31-Dec-05
Interest Income
Loans including fees	$	10,688	$	9,071	$	40,475	$	34,193
Deposits with banks		114		92		437		316
Federal funds sold		28		162		293		394
Securities		2,092		1,770		7,944		6,981
TOTAL INTEREST AND DIVIDENDS		12,922		11,095		49,149		41,884
Interest Expense
Deposits		4,673		3,547		17,106		12,633
Other borrowings		732		735		2,881		2,637
Subordinated Debentures		225		190		866		685
Total interest expense		5,630		4,472		20,853		15,955
NET INTEREST INCOME		7,292		6,623		28,296		25,929
Provision for loan losses		292		237		1,371		783
NET INTEREST AFTER PROVISION		7,000		6,386		26,925		25,146
Other Income
Trust income		328		279		1,077		977
Service charges on deposits		1,052		1,078		4,160		4,060
Other charges and fees		182		132		644		512
Net security gains (losses)		(5)		259		338		322
Loss on other-than-temporarily impaired security		--		--		--		(240)
Mortgage Banking Income		25		--		145		76
BOLI		162		136		687		615
Wealth Management		131		114		519		533
Other		167		81		588		291
TOTAL OTHER INCOME		2,042		2,079		8,158		7,146
Non-Interest Expenses
Salaries & Benefits		2,885		2,610		11,053		10,022
Occupancy, net		747		682		2,854		2,714
Data Processing		529		442		2,010		1,641
Amortization of intangible		104		94		415		330
Director's Fees		66		53		395		471
Total other expenses		1,308		1,248		5,384		4,987
Total non-interest expenses		5,639		5,129		22,111		20,165
NET INCOME BEFORE TAXES		3,403		3,336		12,972		12,127
Federal income tax		890		874		3,350		2,989
NET INCOME	$	2,513	$	2,462	$	9,622	$	9,138
Diluted Earnings Per Share	$	0.28	$	0.27	$	1.07	$	1.00
Dividends Per Share	$	0.15	$	0.14	$	0.57	$	0.55
Return on Average Assets (ROA)						1.26%		1.23%
Return on Average Equity (ROE)						13.51%		13.42%

(1) On April 18, 2006, the shareholders of the Corporation voted to change from $1.00 par value to no par stock. The change had no effect on the dollar amount of total shareholder’s equity and simply resulted in a reclassification between the common stock and additional paid in capital line items.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic competitive conditions; and other risks and uncertainties.

CNB Bank websites can be found at www.bankcnb.com and www.eriebank.net