Exhibit 99

News Release

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

CNB FINANCIAL CORPORATION REPORTS EARNINGS FOR 2008

Clearfield, Pennsylvania – February 11, 2009

CNB Financial Corporation (NASDAQ: CCNE), the parent company of CNB Bank, today announced annual earnings for the year ended December 31, 2008 of $5.2 million or $0.61 diluted earnings per share compared to $9.1 million or $1.05 diluted earnings per share for 2007, representing a 42.7% decrease in net income and a 41.9% decrease in diluted earnings per share. Net income in the fourth quarter of 2008 was $685 thousand or $0.08 diluted earnings per share compared to $2.4 million or $0.28 diluted earnings per share in the fourth quarter of 2007.

Earnings for the year and for the fourth quarter were negatively impacted by other-than-temporary impairment charges associated with certain investments. These after tax charges totaled $2.6 million for the year, or $0.30 per share, and $1.3 million in the fourth quarter, or $0.15 per share. Excluding these charges, earnings for the year would have been $7.8 million, or $0.91 per share, and $2.0 million, or $0.23 per share, in the fourth quarter.

The Corporation also increased its provision for loan losses during 2008 by $2.3 million, which resulted in a year end ratio of allowance for loan losses to net loans of 1.30%. The ratio of nonperforming assets to total assets was 0.42% at December 31, 2008, compared to 0.34% at December 31, 2007.

Consolidated balance sheets (in thousands) (unaudited)

	12/31/2008		12/31/2007
ASSETS:
Cash and cash equivalents	$	31,256	$	26,587
Securities, time deposits and other equity interests		250,511		171,975
Net loans		662,837		594,660
Premises and equipment, net		23,578		19,780
Other assets		48,312		43,306
TOTAL ASSETS	$	1,016,494	$	856,308
LIABILITIES:
Deposits	$	814,596	$	659,157
Borrowings and subordinated debentures		128,817		120,620
Other liabilities		10,614		7,248
TOTAL LIABILITIES		954,027		787,025
SHAREHOLDERS’ EQUITY		62,467		69,283
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,016,494	$	856,308

Financial results - unaudited (in thousands, except share data)

	For Quarter Ended					Year To Date
	12/31/08			12/31/07		12/31/08			12/31/07
Net interest income	$	9,419		$	8,513	$	36,600		$	31,011
Provision for loan losses		1,806			609		3,787			1,512
Net interest income after provision		7,613			7,904		32,813			29,499
Other income		(42	)		1,901		2,490			8,189
Noninterest expenses		7,059			6,544		28,801			25,273
Income before income taxes		512			3,261		6,502			12,415
Income tax benefit (expense)		173			840		(1,267	)		3,281
NET INCOME	$	685		$	2,421	$	5,235		$	9,134
Earnings per share, fully diluted	$	0.08		$	0.28	$	0.61		$	1.05
Dividends per share	$	0.165		$	0.16	$	0.645		$	0.62

	As of or for the twelve months ended December 31, 2008		As of or for the twelve months ended December 31, 2007
SELECTED RATIOS
Net interest margin	4.22	%	4.27	%
Return on:
Average equity	7.39	%	12.82	%
Average assets	0.56	%	1.12	%
CAPITAL RATIOS (a)
Total risk-based capital ratio	12.09	%	12.91	%
Tier 1 capital ratio	10.88	%	11.89	%
Leverage ratio	8.40	%	9.74	%
ASSET QUALITY RATIOS
Nonperforming assets to total assets	0.42	%	0.34	%
Net charge-offs to average loans	0.28	%	0.14	%
Allowance for loan losses to net loans	1.30	%	1.13	%

(a) The capital ratios as of December 31, 2008 are estimated

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’s website is www.bankcnb.com.