CNB Financial, the parent company of CNB Bank, appointed Michael D. Peduzzi president and chief operating officer of the bank.
“Mike brings superb financial skills and a deep knowledge of banking to CNB,” Peter Smith, chairperson of the board of directors of CNB Bank, said. “He understands the investor community and projects leadership, integrity and empathy. Ten minutes into our first meeting, I knew he was a good fit. Mike will be a great addition to our team, and I look forward to working with him.”
Peduzzi has more than 34 years of experience in banking and financial services, having most recently served as senior executive vice president and CFO of a Pennsylvania community bank. During his five-year tenure, the bank grew from fewer than $1 billion in assets to more than $3 billion, with 36 office locations throughout Pennsylvania. During this time with the bank, he also served on the board of directors of the Pennsylvania Association of Community Bankers.
As president and COO of CNB Bank, Peduzzi will lead the bank in the execution of its strategic plan. He will work with Joseph Bower, president and CEO of CNB Bank, and the board of directors of CNB to develop and direct the financial policies and practices of the bank’s retail, commercial, wealth management and private banking divisions to ensure that financial objectives and institutional growth targets are met. Along with other members of the CNB executive management team, he will develop bank-wide strategies aimed at achieving growth and profitability goals to ensure optimum shareholder returns while complying with government regulations and sound financial practices.
“Adding Mike’s experience and expertise to CNB’s management team strengthens our ability to continue to build our organic growth franchise,” Bower said. “Having his fresh perspective and skill set will help guide us forward, enhance our succession depth and assist in maintaining CNB’s strong culture.”
Peduzzi is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants.
