Exhibit 12.1

CNB Financial Corporation

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (dollars in thousands)

		Nine Months Ended September 30,		Years Ended December 31,
		2016		2015		2014		2013		2012		2011
Net Income from continuing operations	a	$	20,644	$	30,489	$	32,388	$	23,019	$	23,547	$	20,633
Interest expense on deposits	b		6,288		8,498		8,300		7,995		10,875		13,625
Interest expense on borrowings	c		2,341		3,222		3,241		3,447		3,245		3,176
Interest expense on subordinated debt	d		590		751		746		770		800		778
Earnings	(a+b+c+d)		29,863		42,960		44,675		35,231		38,467		38,212
Preferred stock dividends	e		—		—		—		—		—		—
Fixed charges	(b+c+d)		9,219		12,471		12,287		12,212		14,920		17,579
Ratio of earnings to fixed charges and preferred stock dividends (including interest expense on deposits)	(a+b+c+d) /(b+c+d+e)		3.24		3.44		3.64		2.88		2.58		2.17
Earnings excluding interest expense on deposits	(a+c+d)		23,575		34,462		36,375		27,236		27,592		24,587
Fixed charges excluding interest expense on deposits	(c+d)		2,931		3,973		3,987		4,217		4,045		3,954
Ratio of earnings to fixed charges and preferred stock dividends (excluding interest expense on deposits)	(a+c+d)/ (c+d+e)		8.04		8.67		9.12		6.46		6.82		6.22