CNB Financial in Clearfield, Pa., will have a new CEO later this year.
The $5.3 billion-asset CNB said in a press release Wednesday that Joseph Bower will retire as CEO of CNB Bank on July 1 and the company’s president and CEO on Dec. 31. He has been the company’s CEO since December 2009.
Michael Peduzzi, the bank’s president and chief operating officer, will succeed Bower.
Bower “brought a lot of talent and drive to CNB,” Peter Smith, the company’s chairman, said in the release. “His initiatives carried us into many new markets. I thank him for his efforts on behalf of the board and our shareholders.”
Peduzzi joined CNB last summer after spending five years as chief financial officer of Mid Penn Bancorp.