CNB Financial Corporation (CNB), the parent company of CNB Bank, announced Michael D. Peduzzi has been appointed as President and Chief Operating Officer of CNB Bank.
“Mike brings superb financial skills and a deep knowledge of banking to CNB,” said Peter Smith, Chairperson of the Board of Directors of CNB Bank. “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 over 34 years of experience in banking and financial services, having most recently served as Senior Executive Vice President & Chief Financial Officer of a Pennsylvania community bank. During his five-year tenure, the bank grew from less than $1 billion in assets to over $3 billion, with 36 office locations throughout Pennsylvania. During this time, he has 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 the strategic plan. He will work with the Chief Executive Officer and 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 goals, and institutional growth targets are met. Along with other members of the CNB executive management team, he will develop bankwide 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,” said Joseph Bower, President and Chief Executive Officer of CNB. “Having his fresh perspective and skill set will help guide us forward, enhance our succession depth and assist in maintaining CNB’s strong culture.”
A native of Ebensburg, PA, Peduzzi graduated from Bishop Carroll High School. He later graduated from The Pennsylvania State University with a Bachelor of Science degree in accounting.
Peduzzi is a member of the American Institute of Certified Public Accountants (AICPA) and the Pennsylvania Institute of Certified Public Accountants (PICPA). He has served a three-year term on the PICPA state committee on professional ethics, and a four-year term on the PICPA state committee on internal audit, including a term as Chairman.