2010 Second Quarter Earnings
Ithaca, Michigan, July 22, 2010
Jeffrey S. Barker, President and CEO of Commercial National Financial Corporation and Commercial Bank, announced that earnings per share for the second quarter of 2010 totaled $.20. Net income for the quarter ended June 30, 2010, was $660,000 compared to $612,000 in the same quarter last year. The return on average equity was 13.9%. The $.13 per share second quarter cash dividend was equal to that of last year and represents a 7.8% yield based on recent common stock trades.
Commercial National Financial Corporation is a one bank holding company with total assets of $342,000,000 at June 30, 2010. Commercial Bank operates full service banking offices in Alma, Greenville, Ithaca, Middleton, Mt. Pleasant, and St. Louis.
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