For the full year, the $1.6 billion-asset CBN earned $15.1 million, up 33% from 2010.
The company attributed its results primarily to a 7% increase in total loans year over year, to nearly $844 million, and a 17% drop in its interest expense as a result of continued low interest rates. However, its net interest margin fell six basis points from the prior year, to 3.59%, to declining yields on its earning assets.
CNB is the parent of CNB Bank, which has 27 branches in nine Pennsylvania counties.
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