8-K

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                       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: October 31, 2003


                    COMMERCIAL NATIONAL FINANCIAL CORPORATION
             (Exact name of registrant as specified in its charter)



           Michigan                       0-17000                38-2799780
(State or other jurisdiction of   (Commission File Number)     (IRS Employer
        incorporation)                                       Identification No.)


    101 North Pine River Street, Ithaca, Michigan                    48847
        (address of principal executive offices)                   (ZIP Code)


       Registrant's telephone number, including area code: (989) 875-4144


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                   Information to be Included In the Report


ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit

99.1     Press release dated October 31, 2003

ITEM 9. REGULATION FD DISCLOSURE.

On October 31, 2003, Commercial National Financial Corporation issued a press
release announcing the approval of a 5% stock dividend to be paid November 26,
2003 to shareholders of record on November 11, 2003. A copy of the press release
is attached as Exhibit 99.1

This information furnished under "Item 9. Regulation FD Disclosure" is intended
to be furnished under "Item 12. Results of Operations and Financial Condition"
in accordance with SEC Release No. 33-8216.

The information in this Form 8-K and the attached Exhibit shall not be deemed
filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such filing.


SIGNATURES

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.


Date: October 31, 2003             COMMERCIAL NATIONAL FINANCIAL CORPORATION
                                       (Registrant)

                                       By: /s/ Patrick G. Duffy
                                       ------------------------------------
                                       Patrick G. Duffy
                                       Executive Vice President
                                         and Chief Financial Officer



                                  EXHIBIT INDEX



99.1     Dividend announcement dated October 31, 2003

EX-99.1

                                                                    EXHIBIT 99.1




                    COMMERCIAL NATIONAL FINANCIAL CORPORATION
                                 DIVIDEND REPORT

October 31, 2003

Ithaca, Michigan-- Commercial National Financial Corporation, holding company
for Commercial Bank, announced today that the Board of Directors has authorized
a 5% stock dividend payable on November 26, 2003, to stockholders of record on
November 14, 2003. In making the announcement, Jeffrey S. Barker, President and
Chief Executive Officer, stated that this is the thirteenth consecutive year
that a stock dividend has been paid to stockholders.

Commercial Bank operates nine full service banking offices located in Alma,
Greenville, Ithaca, Middleton, Mt. Pleasant, Pompeii, and St. Louis.



Contact:

         Jeffrey S. Barker
         President and CEO
         989-875-5500

         Patrick G. Duffy
         Executive Vice President and CFO
         989-875-5506

         Daniel E. Raleigh
         Vice President
         989-875-5504