2008 Fourth Quarter & Year End Earnings

2008 Fourth Quarter & Year End Earnings
Ithaca, Michigan, January 28, 2009—

Jeffrey S. Barker, President and CEO of Commercial National Financial Corporation and Commercial Bank, announced that net income for the year just ended December 31, 2008, totaled $2,821,000, compared to $2,590,000 for the prior year, an increase of 8.9%. Fully diluted earnings per share rose 10.1% to 87 cents per share compared to 79 cents per share in 2007.

The total return on average equity was 16.2% for 2008 compared to 15.8% in 2007. Cash dividends totaled 52 cents per share during 2008, which represents an 8.3% yield based upon recent common stock trades.

Commercial Bank remains well capitalized as defined by all regulatory requirements and therefore the corporation has declined to participate in the US Treasury Department’s Capital Purchase Program.

Commercial National Financial Corporation is a one bank holding company with total assets of $360,000,000 at December 31, 2008. Commercial Bank operates full service banking offices in Alma, Greenville, Ithaca, Middleton, Mt. Pleasant, Pompeii, and St. Louis.

Contact:
Daniel E. Raleigh
Vice President
989-875-5504



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