CNB Financial (CCNE) in Clearfield, Pa., plans to sell up to $75 million in preferred and common stock.
The $1.8 billion-asset company said in a regulatory filing that it would use proceeds from the sale for general corporate purposes, including future acquisitions, repaying debt and increasing capital. The company has not determined the number of shares it will sell.
CNB bought FC Banc (FCBZ) in Bucyrus, Ohio, in October. It paid about $40 million in cash and stock for the $357 million-asset company.