The parent company of Bank on Buffalo reported $24 million in profits last year, up 16 percent from $20.5 million the year before.
Clearfield, Pa.-based CNB Financial Corp. said its Bank on Buffalo division added 28 employees last year. Bank on Buffalo now operates three area branches, and has indicated interest in opening a fourth location.
In the fourth quarter, CNB Financial recorded profits of $3.5 million, down from $5 million the year before. The bank absorbed a one-time charge related to the reduction in the federal corporate income tax rate.