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Academic Scholarship Winners Announced (July, 2015)

Clearfield Bank & Trust Company congratulates the recipients of the Clearfield Bank & Trust Company's 2015 Academic Scholarship.

Catlin Cesa 
DuBois High School 

Johnna Fitzhugh
Tussy Mountain High School 

Michael Fleming
Curwensville Area High School

Sadie Hubler 
Clearfield Area Junior Senior High School

Wyatt Inlow
Philipsburg-Osceola Area High School

Madison Kovalick 
West Branch High School 

Skyler Krise 
West Branch High School 

Hannah Taylor 
Mount Union Area High School 


The Academic Scholarship was designed to honor eight local high school students who have shown dedication to excellence.

For their hard work and dedication they were each awarded a $1,000 scholarship. Clearfield Bank & Trust extends a thank you to all those who participated in the Academic Scholarship Program and wish the best of luck to the Class of 2015.

Tools For School Donation Made (June, 2015)

Sharon Harford, Captain of the Clearfield Salvation Army, accepts a $1,000 donation from Clearfield Bank & Trust Company representative, Kathy Jacobson, Asst. Vice President & Community Office Manager.   The Salvation Army will be purchasing backpacks and filling them with supplies for their upcoming “Tools for School.”  The backpacks will be offered as a way to help families in need provide necessary back-to-school items for their school aged children.   

Area Banker Appointed to Statewide Committee (June, 2015)

Mike Bibak, President of Clearfield Bank & Trust, has been appointed to the Pennsylvania Bankers Association’s Advisory Committee for the PA Bankers School of Commercial Lending.  The Committee is responsible for reviewing the operational aspects of the school and evaluating school curriculum to insure it is relevant and meets PA Bankers member banks’ educational needs.  The weeklong school attracts bankers from across the state and is conducted annually at Penn Stater Conference Center, State College, PA.  Curriculum includes “hands-on” training, particularly in the areas of credit and financial analysis.

Bibak will serve a 3 year term starting July 1, 2015.  Mr. Bibak has 28 years of diverse banking experience and joined Clearfield Bank & Trust in February, 2015. There, he is responsible for strategically directing the Bank in growth of assets, deposits, net income, stockholder’s equity and franchise development.   

He holds a Bachelor of Science in Business Administration from the University of Scranton and is a graduate of the Pennsylvania Banker’s Association Executive Leadership program.

The Pennsylvania Bankers Association, located in Harrisburg, is the state’s leading banking trade association representing an expansive and diverse membership.  The Association offers extensive continuing education programs, government relations representation on behalf of the industry, and provides numerous products and services for banks and their employees.  

Donation Made to Feeding Hungry Families (June, 2015)

Clearfield Bank & Trust recently made a $2,500 to the Huntingdon Salvation Army Feeding Hungry Families Campaign.  Presenting the check to Salvation Army Representative, Envoy Charity Bender, is Assistant Vice President & Huntingdon Community Office Manager, Jackie Confer.

Jim Richtscheit Named Community Office Manager (May, 2015)

William E. Wood, Chairman and CEO of Clearfield Bank & Trust Company announced recently the promotion of Jim Richtscheit, to Philipsburg Community Office Manager.  In his new role, he will be responsible for promoting the banks sales and service culture while maintaining current account relationships, obtaining new business and providing total financial solutions to customers of the bank.

Mr. Richtscheit started his financial services career in 2000 and started as a Collector with Clearfield Bank & Trust in 2012.

Mr. Richtscheit is a graduate of Philipsburg-Osceola High School and received a BA degree in Liberal Arts and Science from Penn State University.  In addition, he has earned an AIB Customer Service Representative Certificate.    

Mr. Richtscheit’s community involvement includes, Relay For Life of the Moshannon Valley where he has volunteered since 2009 and has served in various positions; Treasurer and Committee Member of the National Wild Turkey Federation Central PA Limbhangers;  Life Member of the Penn State Alumni Association; and Member of the Sons of the American Legion and Slovak Club.   

Mr. Richtscheit resides in Osceola Mills with his wife, Stefanie and son Jimmy. 


Donation made to DuBois YMCA Capital Campaign (March, 2015)


Clearfield Bank & Trust recently made a $10,000 donation to the DuBois Area YMCA for the 2015 Capital Campaign.  Pictured presenting the check to Daniel Dowling, CEO of the DuBois YMCA is DuBois Community Office Manger, Pam Walsh. 

Area V Junior Wrestling Program Recognition (March, 2015)

Area V of the Pennsylvania Junior Wrestling Program conducted their Area V finals at Clarion recently and recognized Clearfield Bank & Trust for its past financial contributions and support of the Area V Junior Wrestling Program.  Clearfield Bank & Trust has supported the Area V in all of the years the finals have been in Clarion.  Bob Peters, Area V chairman, presented a plaque to recognize the efforts of Clearfield Bank & Trust to Kathy Jacobson, Assistant Vice President and Community Office Manger.   

Ogden named Executive Vice President of Clearfield Bank & Trust Company (March, 2015)

The Board of Directors announces the promotion of Richard W. Ogden to Executive Vice President and Chief Financial Officer and Treasurer of Clearfield Bank & Trust Company.  Rick has over thirty-three years of community banking experience at Clearfield Bank & Trust Company including the last eighteen as a member of Senior Management.  In his tenure with the bank Rick has held positions beginning with Accountant in 1981 to his current position of Senior Vice President, Chief Financial Officer and Treasurer.


He earned a Bachelor of Science degree in Accounting from Penn State University and is a graduate of the American Bankers Association Graduate School of Bank Investments and Funds Management as well as the Bank Administration Institute (BAI) Controllership Program.


Mr. Ogden has been actively involved in the community as Vice Chairperson of the Clearfield Foundation; a team member of Clearfield Vision 2020; a board member of the DuBois Education Foundation; a member of the Hyde Wesleyan Church and the Secretary/Treasurer of the Lawrence Township Wolf Run Authority.


Mr. Wood, Chairman and CEO stated: “Rick has been a long term employee and a valuable asset to the Bank.  His contributions, experience and dedication are deserving of this recognition and promotion.”


He and his wife Vickie reside in Clearfield, PA.  They have two adult children, Corey and Cammeron.

Bibak named President of Clearfield Bank & Trust Company (February, 2015)

The Board of Directors has appointed Michael J. Bibak as President of Clearfield Bank and Trust Company.  Mr. Bibak is a senior level banking professional with 26 years of diverse banking experience.  Mike has experience at both large and small community banks and regional banks.  He is a Scranton native and earned a Bachelor of Science in Business Administration from the University of Scranton in 1987 and is a graduate of the Pennsylvania Banker’s Association Executive Leadership program.  

Mike has extensive experience in all areas of banking with functional duties in asset liability management, strategic planning, retail and commercial lending.  During his banking career, Mike has been highly involved with numerous civic and charitable organizations in leadership roles and is a board member of the Pennsylvania Bankers Association.


Mr. Wood, Chairman & CEO stated: “We are extremely pleased to bring someone with Mike’s qualifications to Clearfield Bank and Trust Co.  His overall banking knowledge and training will be an asset to the organization.”


He and his wife Erica will be moving to the Clearfield area.

Donation made to CHORE Program (February, 2015)

Pictured are Kathy Jacobson, CB&T Assistant Vice President and Community Office Manager; Stacy LoCastro, CPCA Executive Director; and Judy Mitchell, CB&T Senior Vice President and Chief Operating Officer.



Central Pennsylvania Community Action Inc. (CPCA) has again been awarded the CHORE program funding through the Affordable Housing Fund grant through the Clearfield County Planning & Community Development office and the Clearfield County Commissioners.

This program offers assistance to homeowner households under 250 percent of the Federal Poverty Guidelines with minor home improvements to ameliorate safety hazards and ensure residents of Clearfield County can stay in their homes.

Repairs may include, but are not limited to, building a wheelchair ramp, installing bathroom grab bars, replacing a hot water heater, replacing a broken refrigerator, etc.

The CPCA has been awarded $15,000 from the county. Clearfield Bank & Trust (CB&T) has provided a match of $15,000 for the project and CNB has provided $1,500. Projects through the CHORE program are limited to $1,500 each.

With a grant of $31,500, CPCA’s goal is to make repairs to a minimum of 18 homes at a maximum amount allotted to each home at $1,500.

If projects are less than $1,500, more projects can be completed. CPCA’s goal is to assist approximately 24 homes. Through these efforts, CPCA expects to serve approximately 48 individuals.

With last year’s funding and total funding of $30,000 (with match funding from CB&T and CNB), CPCA served 37 homes and 89 individuals, due to lower project levels. The CPCA hopes the same will occur again this year.

The program will open once the contract process is complete with the county, which should conclude in the next few weeks. For more information, please contact CPCA at 814-765-1551.

Wood Appointed to Advisory Council (January, 2015)










The Federal Reserve Bank of Philadelphia today announced the appointment of William Wood, chairman, president, and CEO of CBT Financial Corporation and Clearfield Bank & Trust Company, to its Community Depository Institutions Advisory Council (CDIAC). He will serve a three-year term beginning in March 2015.

The CDIAC is a 12-member council composed of representatives from commercial banks, thrift institutions, and credit unions. The council convenes twice a year with officials from the Federal Reserve Bank of Philadelphia to share insights about economic and business trends facing community depository institutions in their local markets. After each local meeting, a representative from the Philadelphia council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Federal Reserve Board of Governors in Washington, D.C.

Wood has been the chairman, president, and CEO of CBT Financial Corporation and Clearfield Bank & Trust Company since 1999. He is also the director of Penn Highlands Healthcare and past chair of the audit committee. Wood serves as the major gifts campaign chair for the Clearfield Area United Way, as well as director and officer of the Pennsylvania Association of
Community Bankers.

Wood has an M.B.A. in finance from Saint Francis University and a bachelor's degree in economics from Robert Morris University. He also has an advanced banking degree from the Stonier Graduate School of Banking at the University of Delaware.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

Students Complete EverFi Program (January, 2015)

Students in Mr. Rodney Thompson’s Accounting I class at DuBois Area High School recently completed a nine-week financial literacy program sponsored by Clearfield Bank & Trust and EverFi. Upon completion of the EverFi modules, students are able to understand finances on many different levels including banking, insurance, buying a car, renting an apartment, owning a home, applying for college, credit scores, taxes, and investments. The students were presented certificates for completing the program by Thompson, Pamela Walsh of Clearfield Bank & Trust and DASD Curriculum Director Anne Young. Shown, from row, from left are Walsh, Derek Fish, Savannah Gwizdala, Kaycee Vanchure, Madison Brooks, Keaton Maines, Gavin Goodier, Joey Sawey, Brianna Yanulittis, Jacqueline Spenard, Bethany Zaffuto, Haley McAninch, Brittany Newell, Adam Horner and Thompson. Second row, from left, are Dalton Kruzelak, Seth Braid, Cassie Folmar, Lizzie French, Hailey Vaughan, Molly Mazzaferro, Marissa Dunlap, Shadi Hassan, Justin Reed, Austin Shaffer-Doan, Ryan Mitskavich, Jake Shugar, and Jeremy Ayrault. Back row, from left, are Daniel Grassi, Naomi Webster, Tyler Schweiger, Morgan Henry, Sarah Snyder, Gretchin Lines, Molly Nosker, Cole Meighen, Keara Snead-Webster, Jesse Nissel, Braden Haag, Nick Cotter, Peter Foradora and Michael Ricksgers.


Donation made to Susquehanna Rural Free Clinic (January, 2015)

Clearfield Bank & Trust recently made a $1,000 donation to the Susquehanna Rural Free Clinic.  Presenting the check to Sr. Karen Willenbring is Assistant Vice President and Bridge Street Community Office Manager, Michele Fannin. 

Donation Made to Living Bread Ministries (January, 2015)

Kelly Frye from Living Bread Ministries accepts a $500 donation from Kathy Jacobson, Assistant Vice President & Main Office Community Manager.   Living Bread Ministries operates strictly through volunteers from the community, who provide their time and efforts to offer a Food Pantry, Free Meal Program and a Children's Program to our community.   


$1,000 Donation Made To Huntingdon Area Habitat For Humanity (January, 2015)

Clearfield Bank & Trust recently made a $1,000 donation to the Huntingdon Area Habitat for Humanity. 
Accepting the check from Jackie Confer, Assistant Vice President & Huntingdon Community Office Manager, is Biff Houldin, Huntingdon Area Habitat for Humanity Representative. 


Donations Totaling $9,000 Made to Local Food Pantries (January, 2015)

Clearfield Bank and Trust has donated $1,000 to nine different local food banks, throughout the counties we serve, in our continuing efforts to help people in need. These food banks provide food and other basic necessities to low and moderate income families and individuals.

Pictured accepting donations for both Clearfield & Curwensville Food Pantries is Robin Clark. Presenting the checks are Kathy Jacobson, Assistant Vice President & Main Community Office Manager (top photo) and Debbie Bowser, Assistant Vice President & Curwensville Community Office Manager (bottom photo).

Bag-A-Buck Contest Winners Accounced (January, 2015)

Clearfield Bank & Trust recently conducted a Bag-a-Buck promotion in which they gave away prizes to two lucky winners.

Pictured is Jodie Jackson of Huntingdon who was the winner of the $250 Gift Card from Raystown Guns and Outdoors. Presenting Mrs. Jackson with the gift certificate is Vice President & Regional Bank Manager, Robb Ritchey.



Pictured is Martha Tozer of Curwensville who was the winner of $250 Gift Certificate from Bob’s Army & Navy.  Presenting Mrs. Tozer with the certificate is Assistant Vice President & Curwensville Community Office Manager, Debbie Bowser.

Local Financial Services Professional Earns National Certification (January, 2015)


William E. Wood, Chairman, President and CEO of Clearfield Bank & Trust Company, announces that William A. Shiner, was recently awarded the Certified Regulatory Compliance Manager (CRCM) designation from the Institute of Certified Bankers (ICB), a subsidiary of the American Bankers Association, in Washington, DC. 

Mr. Shiner currently holds the title of Chief Risk Officer as well as Senior Vice President and Secretary for Clearfield Bank & Trust as well as Secretary for CBT Financial Corp.  and Diamond Financial Services.  Mr. Shiner is responsible for the Bank's enterprise risk management program ensuring compliance with laws, regulations and internal policies and procedures.

In addition to the CRCM designation, Mr. Shiner is a graduate of the PBA School of Banking; BAI School of Bank Administration, Community Banking Curriculum; ABA National Compliance School and Professional Bank Services BSA/AML Compliance School.   

The CRCM designation is awarded to individuals who demonstrate excellence in the field of bank regulatory compliance.  To qualify for the CRCM certification, individuals must have certain levels of experience and education in the compliance profession, pass an exam and agree to abide by a code of ethics.  The CRCM exam covers regulatory requirements as they relate to credit, deposits/securities, safety and soundness, information reporting and corporate responsibility. 

Financial services professionals, working through the Institute of Certified Bankers, initiated the CRCM designation and eight others in order to establish meaningful standards of knowledge in specialty areas of the financial services industry.  ICB certifications formally recognize those who meet these standards and meet professional continuing education and development requirements.

Clearfield Bank and Trust Company, a wholly owned subsidiary of CBT Financial Corp, headquartered in Clearfield, PA, operates 12 community offices throughout Blair, Centre, Clearfield and Huntingdon Counties.  For consumers and businesses, the Bank provides a variety of deposit accounts, affordable loans, online banking and trust services.


2014 Bank News 

2013 Bank News