Commercial National Reports 55.2% Third-Quarter Earnings Increase
Commercial National Financial Corporation reported higher third-quarter and nine-month earnings for 2026, alongside capital ratios, deposit data and details of its share repurchase programme.
Commercial National Financial Corporation (OTCQX:CNAF), the parent company of Commercial Bank & Trust of PA, reported higher earnings for the quarter and nine-month period ended September 30, 2026. Third-quarter earnings rose to $692,000, while the company also disclosed capital ratios, deposit information and the status of its common-stock repurchase programme.
Commercial National earned $692,000, or $0.24 per average share outstanding, in the third quarter of 2026. That compared with $446,000, or $0.16 per average share outstanding, in the third quarter of 2025. The company said third-quarter earnings increased 55.2%.
For the nine-month period ended September 30, 2026, earnings were $1,693,000, or $0.60 per average share outstanding. The comparable 2025 figure was $1,328,000, or $0.46 per average share outstanding, with nine-month earnings increasing 27.5%.
Tax-equivalent net interest margin at the end of the third quarter was 4.00%. Fully insured, well-diversified core deposits represented 83.50% of total deposits, which the company said compared favourably with national banking industry metrics.
During late September, Federal Home Loan Bank member advances were used to support the acquisition of amortizing GNMA mortgage-backed pass-through securities. The company said the purchases were made in response to an opportunity associated with a multi-decade spike in market yields.
Commercial National said asset quality remained attractive. It also reported that its securities portfolio continued to be affected by generationally elevated trade, fiscal and monetary macro policy volatility. Book capital reflected a temporary after-tax accumulated other comprehensive loss related to net unrealized market-value depreciation of securities available for sale.
At September 30, 2026, the company reported Tier one risk-based, total risk-based, leverage and common equity tier one capital ratios of 26.67%, 26.99%, 14.87% and 26.67%, respectively.
Tier one capital was $57,108,000, while total risk-based capital was $57,792,000. The company said its capital adequacy and strength exceeded major banking industry benchmarks.
Commercial National announced on August 20, 2026, that it had authorised the repurchase of up to 114,680 common shares, representing 4% of its currently outstanding shares. The authorisation renewed a programme adopted on August 19, 2025, which lapsed after its one-year effective period following the repurchase of 28,368 common shares under that programme.
Through September 30, 2026, the company had repurchased 52,550 common shares since August 19, 2025, at an average price of $8.42 per share. It intends to conduct further repurchases on the open market, including through a trading plan adopted under SEC Rule 10b5-1, subject to market conditions and other factors. There is no guarantee as to the number of shares the company may ultimately repurchase, and the programme may be suspended or discontinued at any time.
Direct and beneficial ownership by executive officers and directors totalled 504,607 shares, or 17.97%, on September 30, 2026.
Commercial National employed 76 people in full-time and part-time positions on September 30, 2026. Thirty-one employees were represented by the United Auto Workers, Local 1799, including twenty-eight full-time employees and three part-time employees.
The labour agreement became effective on February 15, 2024, and expires in February 2029. The company said bargaining-unit status limits its strategic options relative to non-unionized insured depository institutions and remains a factor in its strategic and capital management decisions.
The company operates seven community banking facilities in Hempfield Township, Latrobe, Ligonier, Unity Township and West Newton, Pennsylvania. It also has a commercial business development sales force throughout its market area and operates an asset management and trust division of Commercial Bank & Trust of PA, headquartered in Greensburg, Pennsylvania.
Commercial National cautioned that forward-looking statements involve risks and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems and the company’s ability to execute its business plans. The company said actual results of future events could differ materially from those stated in forward-looking statements and that it assumes no obligation to update them as circumstances change.
Third-quarter 2026 earnings were $692,000, or $0.24 per average share outstanding, up 55.2% from the third quarter of 2025.
Nine-month earnings reached $1,693,000, or $0.60 per average share outstanding, with nine-month earnings up 27.5%.
Third-quarter-end tax-equivalent net interest margin was 4.00%, while fully insured, well-diversified core deposits represented 83.50% of total deposits.
The company authorised repurchases of up to 114,680 common shares, subject to market conditions and other factors, with no guarantee on the final number repurchased.
Commercial National reported capital ratios of 26.67%, 26.99%, 14.87% and 26.67% across the stated measures at September 30, 2026.
Commercial National Financial Corporation reported results for the quarter ended September 30, 2026. The company reported third-quarter earnings of $692,000, or $0.24 per average share outstanding, compared with $446,000, or $0.16 per average share outstanding, in the third quarter of 2025.
Commercial National Financial Corporation is identified in the announcement as trading on OTCQX under the ticker symbol CNAF.
Commercial National Financial Corporation earned $692,000, or $0.24 per average share outstanding, in the third quarter of 2026. The company said third-quarter earnings increased 55.2% compared with the third quarter of 2025.
Commercial National Financial Corporation earned $1,693,000, or $0.60 per average share outstanding, for the nine-month period ended September 30, 2026. This compared with $1,328,000, or $0.46 per average share outstanding, for the corresponding period in 2025, while nine-month earnings increased 27.5%.
Commercial National Financial Corporation's tax equivalent net interest margin improved to 4.00% at third-quarter-end 2026.
Fully insured, well-diversified core deposits comprised 83.50% of Commercial National Financial Corporation's total deposits. Federal Home Loan Bank member advances were used during late September to facilitate the acquisition of amortising GNMA mortgage-backed pass-through securities, in response to a multi-decade spike in market yields.
At September 30, 2026, Commercial National Financial Corporation reported Tier one risk-based capital of 26.67%, total risk-based capital of 26.99%, leverage capital of 14.87% and common equity tier one capital of 26.67%. Tier one capital was $57,108,000 and total risk-based capital was $57,792,000.
Commercial National Financial Corporation said book capital reflected a temporary after-tax accumulated other comprehensive loss from net unrealised securities available-for-sale market value depreciation. The company also said its securities portfolio remained affected by generationally elevated trade, fiscal and monetary macro policy volatility, as with many other insured depository institutions nationwide.
On August 20, 2026, Commercial National Financial Corporation announced a programme authorising the repurchase of up to 114,680 common shares, representing 4% of the company's currently outstanding shares. The programme reauthorised the programme adopted on August 19, 2025, which lapsed after its one-year effective period following the repurchase of 28,368 common shares under that programme.
Since August 19, 2025, Commercial National Financial Corporation had repurchased 52,550 common shares through September 30, 2026, at an average price of $8.42 per share. The company intends to conduct further repurchases on the open market, including through a trading plan adopted under SEC Rule 10b5-1, subject to market conditions and other factors; there is no guarantee as to the number of shares ultimately repurchased, and the company may suspend or discontinue the programme at any time.
Direct and beneficial ownership by Commercial National Financial Corporation's executive officers and directors totalled 504,607 shares, or 17.97%, on September 30, 2026.
Commercial National Financial Corporation operates seven community banking facilities in Hempfield Township, Latrobe, Ligonier, Unity Township and West Newton, Pennsylvania, as well as a commercial business development sales force throughout its market area. It also operates an asset management and trust division of Commercial Bank & Trust of PA, and provides Internet banking and an automated TouchTone Teller banking system.
Commercial National Financial Corporation employed 76 people in full-time and part-time positions on September 30, 2026, including 31 employees represented by the United Auto Workers, Local 1799. The labour agreement, which became effective on February 15, 2024, expires in February 2029; the company said bargaining unit status limits its strategic options relative to those of non-unionised insured depository institutions and remains a factor in its strategic and capital management decisions.
Commercial National Financial Corporation cautioned that forward-looking statements involve risks and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems and the company's ability to execute its business plans. The company said actual results of future events could differ materially from those stated in its forward-looking statements and that it assumes no obligation to update them as circumstances change.