CNB Financial in Clearfield, Pa., has picked a veteran director to be its next chairman, the sixth in the company's 32-year history.

The $2.5 billion-asset company said Thursday that Peter Smith will lead the board starting Jan. 1. He joined the board in 1989.

Smith will succeed Dennis Merrey, who was appointed chairman in 2007 and had previously announced plans to step down at the end of 2016. Merrey joined the board in 1991 and will remain a director.

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