CNB Bank and CNB Financial Corporation announced retirement of Joseph B. Bower, Jr. as CEO effective July 1, 2022 and December 31, 2022, respectively. For the remainder of the year, Mr. Bower will work closely with his successor, Michael Peduzzi, President and Chief Operating Officer of CNB Bank, who will succeed Mr. Bower as CEO of CNB Financial Corporation, effective December 31, 2022, and CEO of CNB Bank, effective July 1, 2022. The announcement of Mr. Bower's retirement honors his twenty-five year career with the Company and remarkable leadership to CNB Bank and CNB Financial Corporation.

He joined the organization in 1997 as Senior Vice President and Chief Financial Officer of the Bank and Treasurer of the Corporation. During his twelve years as President & CEO, Mr. Bower has led the organization's asset growth from $1.2 billion to $5.3 billion, representing a 342% growth in assets. His vision to grow the organization to $5 billion was realized in July, 2021, with most of the growth over that twelve years being organic, supplemented by very strategic and successful acquisitions.