CNB Financial Services Raises $20 Million Through Debt Offering

The West Virginia-based banking group completed a private placement to support its subsidiary bank’s capital needs.

October 07, 2025

Private Placement Completed Under Rule 506(b)

CNB Financial Services Inc. has completed a $20 million private debt placement, according to a notice filed with the SEC. The West Virginia–based banking group used the offering to strengthen its capital position and support growth at its subsidiary bank.

The sale began on September 19, 2025, and quickly reached its target. All $20 million in securities were sold to 30 accredited investors, each committing at least $250,000. Performance Trust Capital Partners LLC in Chicago acted as the placement agent, earning $500,000 in commissions for managing the transaction.

The offering was structured under Rule 506(b) of Regulation D, allowing CNB to raise capital through private channels without a public registration process. The company reported annual revenues between $25 million and $100 million and indicated that none of the proceeds would go toward compensation for executives or directors. Instead, the funds will be used for general corporate purposes and to increase the capital base of its bank subsidiary.

Company Profile and Leadership

CNB Financial Services, headquartered in Berkeley Springs, West Virginia, has operated as a commercial banking corporation for more than five years. Its leadership includes a mix of directors and executive officers from West Virginia and Maryland, reflecting the company’s regional roots and community focus.

The filing confirms that the offering was not connected to a merger or acquisition and was not intended to extend beyond one year.

Looking Ahead

By completing this $20 million raise, CNB Financial Services reinforces its balance sheet and positions its banking operations to continue serving local markets with stability and capacity for future expansion.