CBT FINANCIAL CORP. CONDUCTS ANNUAL MEETING

April 7, 2014, Clearfield, PA - CBT Financial Corp, the holding company of Clearfield Bank & Trust Company, conducted the Annual Shareholders Meeting. At the meeting, Marlene K. Sample, Charles R. Johnston and Kevin D. McMillen were re-elected for a three-year term to serve as directors for CBT Financial Corp.
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The following directors were not standing for election this year and retained their positions: Andrew
J. Kohlhepp, Michael R. Lytle, John G. Soult, Jr., Paula M. Cherry and William E. Wood.
In addition to the election of directors, shareholders ratified the appointment of Crowe Horwath, LLC
as the independent auditors for the year ending December 31, 2014.
William E. Wood, Chairman, President and CEO, convened the meeting and introduced Richard W. Ogden, Treasurer of CBT Financial Corp. and Senior Vice President, Chief Financial Officer and Treasurer of Clearfield Bank & Trust Company to discuss the financial performance of the Company. Mr. Ogden reviewed the past year's results and accomplishments of the corporation and its main subsidiary Clearfield Bank & Trust Company. For 2013 net income declined to $2.525 from $3.137 million. He pointed out that the decline in earnings was caused by the compression of net interest margin; the acceleration of the depreciation for the Huntingdon office and fewer security gains. At year-end 2013, total assets were $426.2 million or an increase of $8.1 million and total loans grew by
$14.1 million year over year. Nonperforming loans to total loans was a very low 0.29% and charge offs to total loans was only 0.15% for 2013.
Following Mr. Ogden's presentation, Mr. Wood went on to describe the state of the banking industry and detailed how Clearfield Bank and Trust Company was positioned to cope with increasing regulatory guidelines, the low interest rate environment, loan growth, and earnings pressures. He then described the strategic initiatives that the bank was making to the organizational structure and what steps have been undertaken to ensure the future of the bank remains bright.
In the reorganization that followed, the Board reappointed William E. Wood, Chairman, President and Chief Executive Officer; William A. Shiner, Secretary; and Richard W. Ogden, Treasurer.
The Clearfield Bank & Trust Company Annual Meeting followed with Marlene K. Sample, Charles R. Johnston and Kevin D. McMillen re-elected for a three-year term to serve as Bank Directors. The following directors retained their positions but were not standing for election this year: Andrew J. Kohlhepp, Michael R. Lytle John G. Soult, Jr., Paula M. Cherry and William E. Wood. Directors Emeriti were appointed: George L. Beard, William L. Bertram, Barbara J. Hugney-Shope, Ray S. Walker and Robert M. Kurtz, Jr.
Following that re-election, the following Banking Officers were appointed for 2014: William E. Wood Chairman, President and Chief Executive Officer
Richard W. Ogden Senior Vice President, Chief Financial Officer & Treasurer
Judith K. Mitchell Senior Vice President & Chief Operating Officer
William A. Shiner Senior Vice President & Secretary, Chief Risk Officer
Dennis E. Hampton Senior Vice President & Trust and Investment Division Manager
Glenn E. Fisher Senior Vice President & Lending Services Division Manager
David M. McKeown Vice President & Operations Division Manager
Harold B. Baker Vice President & Financial Services Program Manager of Diamond
Financial Services
Timothy D. Clapper Vice President & Business Banking Officer
Tina M. Collins Vice President & Comptroller
Valerie L. Detwiler Vice President & Business Banking Officer
Kristi J. Johnson Vice President & Mortgage Loan Manager
Vicki J. Myers Vice President & Trust and Investment Management Officer
Robert S. Ritchey Vice President & Retail Banking Manager
Linda S. Starr Vice President & Business Banking Officer
Janet M. Strosky Vice President & Trust and Investment Management Officer George M. Weidlein Vice President & Trust and Investment Management Officer Karen L. Wriglesworth Vice President & Audit Manager
Debra K. Bowser Assistant Vice President & Community Office Manager
Jackie A. Confer Assistant Vice President & Community Office Manager
Kay E. Dell'Antonio Assistant Vice President & Business Banking Officer Denise K. Dixson Assistant Vice President & Loan Servicing Manager Michele A. Fannin Assistant Vice President & Community Office Manager Rudolph J. Fusco Assistant Vice President & Business Banking Officer
Robert A. Holden, Jr. Assistant Vice President - Human Resources Assistant Manager
Kathy L. Jacobson Assistant Vice President & Community Office Manager
Lori A. Kurtz Assistant Vice President & Special Assets/Collection Manager
Jerry A. McKinney Assistant Vice President & Community Office Manager
Sandra L. Nelson Assistant Vice President & Training Manager Christine A. Spencer Assistant Vice President & Operations Manager Jennifer L. Vingless Assistant Vice President & Marketing Officer
Tracy J. Wilkinson Assistant Vice President & Credit Administration Manager
Shelly K. Folmar Assistant Secretary - Senior Administrative Assistant
Cindy L. Brumbaugh Community Office Manager
Christin M. Conigy Community Office Manager
Susanne M. House Community Office Manager Daphne M. Myers Community Office Manager Sheila A. Reese Community Office Manager Richard K. Tromm Community Office Manager Pamela S. Walsh Community Office Manager
CBT Financial Corp. is the holding company of Clearfield Bank & Trust Company which operates fourteen community offices throughout Bedford, Blair, Centre, Clearfield and Huntingdon Counties. They provide a full range of consumer and business banking services along with trust services and financial planning. For more information, contact their headquarters at 814-765-7551 or log onto www.cbtfinancial.com.

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