8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

October 25, 2011

Date of Report (Date of earliest event reported)

CCFNB Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Pennsylvania	0-19028	23-2254643
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

232 East Street

Bloomsburg, PA  17815

(Address of principal executive offices)

570-784-4400

(Registrant’s telephone number, including area code)

N/A

(Former name or former address,

if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act  (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 25, 2011, CCFNB Bancorp, Inc. issued a press release titled “CCFNB Bancorp, Inc. Reports Third Quarter 2011 Earnings”, attached as Exhibit 99.1 to this Current Report of Form 8-K and incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits.  The exhibit listed in the Exhibit Index accompanying this form 8-K is furnished herewith.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:           October 25, 2011	CCFNB Bancorp, Inc.
	By:	/s/ Jeffrey T. Arnold
	Name:	Jeffrey T. Arnold, CPA, CIA
	Title:	Chief Financial Officer

EXHIBIT INDEX

Number	Description	Method of Filing
99.1	Press Release dated October 25, 2011	Furnished herewith.
	Titled “CCFNB Bancorp, Inc. Reports
	Third Quarter 2011 Earnings”

EX-99.1

Press Release – For Immediate Release

October 25, 2011

CCFNB Bancorp, Inc. Reports Third Quarter 2011 Earnings

Bloomsburg, PA – CCFNB Bancorp, Inc. (OTC: CCFN), parent company of First Columbia Bank & Trust Co., has released  its unaudited financial statements for the third quarter of 2011.

Net income, as reported under U.S. Generally Accepted Accounting Principles, for the nine months ended September 30, 2011 was $5,078,000 compared to $4,887,000 for the same period in 2010.  Earnings per share for the nine months ended September 30, 2011 and 2010 were $2.28 and $2.19, respectively.  Annualized return on average assets and return on average equity were 1.09% and 9.74% for the nine months ended September 30, 2011 as compared to 1.11% and 10.06% for the same period of 2010. The return on average assets and return on average equity were 1.03% and 9.35% for the year ended December 31, 2010.

The net interest margin, tax effected, on interest earning assets was 3.56% as of September 30, 2011 as compared to 3.72% as of September 30, 2010.

Total assets increased $11.5 million to $625.8 million at September 30, 2011 from $614.3 million at December 31, 2010.  The overall net increase in total assets was affected by the completed sale of the Hazleton branch office on June 24, 2011 pursuant to a previously announced Purchase and Assumption Agreement dated March 25, 2011.  Premises and equipment with a book value of $779 thousand and deposits amounting to $17.7 million were sold as part of the branch office sale.  Since the end of 2010, net loans increased $3.8 million, an increase of 1.1%.  No loans were sold as a result of the Hazleton branch office transaction.  Without the affect of the Hazleton branch office sale, total deposits increased $22.3 million while short term borrowings increased $4.4 million since the end of 2010.

When compared to December 31, 2010, Stockholders’ equity, excluding accumulated other comprehensive income, has increased $2.8 million to $68.5 million as of September 30, 2011. The current level of stockholders’ equity equated to a book value per share of $31.90 at September 30, 2011 as compared with $30.48 as of December 31, 2010.  During the nine months ended September 30, 2011 cash dividends of $0.93 per share were paid to stockholders compared to $0.88 for the same period of 2010. The current dividend represents an increase of 5.7 % as compared to 2010 amounts.  CCFNB Bancorp, Inc. remains well capitalized, with an equity-to assets ratio of 11.3 % as compared to 11.0 % as of December 31, 2010.

Note: This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Actual results and trends could differ materially from those set forth in such statements due to various factors.  These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

CCFNB Bancorp, Inc.

Consolidated Balance Sheets

	(Unaudited)
	September 30,			December 31,
(In Thousands)	2011			2010
ASSETS
Cash and due from banks	$	12,082		$	7,263
Interest-bearing deposits in other banks		32,120			18,683
Federal funds sold		369			1,649
Total cash and cash equivalents		44,571			27,595
Investment securities, available for sale, at fair value		199,280			207,173
Restricted securities, at cost		2,769			3,012
Loans, net of unearned income		344,595			340,453
Less: Allowance for loan losses		5,158			4,801
Loans, net		339,437			335,652
Premises and equipment, net		11,179			11,992
Accrued interest receivable		1,493			1,632
Cash surrender value of bank-owned life insurance		12,317			11,942
Investment in limited partnerships		1,493			1,607
Intangible Assets:
Core deposit		1,764			2,192
Goodwill		7,937			7,937
Prepaid FDIC assessment		1,216			1,490
Other assets		2,333			2,075
TOTAL ASSETS	$	625,789		$	614,299
LIABILITIES
Interest-bearing deposits	$	399,837		$	410,915
Noninterest-bearing deposits		78,549			62,877
Total deposits		478,386			473,792
Short-term borrowings		63,198			58,759
Long-term borrowings		6,119			6,123
Junior subordinate debentures		4,640			4,640
Accrued interest payable		550			652
Other liabilities		2,003			2,479
TOTAL LIABILITIES		554,896			546,445
STOCKHOLDERS' EQUITY
Common stock, par value $1.25 per share; authorized
15,000,000 shares, issued 2,297,765 shares in 2011;
authorized 5,000,000 shares, issued 2,286,931 shares in 2010		2,872			2,859
Surplus		28,312			27,964
Retained earnings		39,406			36,397
Accumulated other comprehensive income		2,395			2,221
Treasury stock, at cost; 75,400 shares in 2011 and 61,000
shares in 2010		(2,092	)		(1,587	)
TOTAL STOCKHOLDERS' EQUITY		70,893			67,854
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	625,789		$	614,299

CCFNB Bancorp, Inc.

Consolidated Statements of Income

(Unaudited)

	For the Three Months Ended				For the Nine Months Ended
(In Thousands, Except Per Share Data)	September 30,				September 30,
	2011		2010		2011		2010
INTEREST AND DIVIDEND INCOME
Interest and fees on loans:
Taxable	$	4,363	$	4,648	$	13,227	$	14,081
Tax-exempt		288		251		853		694
Interest and dividends on investment securities:
Taxable		1,220		1,604		4,038		5,142
Tax-exempt		148		97		413		302
Dividend and other interest income		13		10		38		31
Federal funds sold		-		-		1		1
Deposits in other banks		22		14		49		27
TOTAL INTEREST AND DIVIDEND INCOME		6,054		6,624		18,619		20,278
INTEREST EXPENSE
Deposits		1,118		1,421		3,550		4,457
Short-term borrowings		75		105		233		310
Long-term borrowings		40		84		119		310
Junior subordinate debentures		28		27		76		74
TOTAL INTEREST EXPENSE		1,261		1,637		3,978		5,151
NET INTEREST INCOME		4,793		4,987		14,641		15,127
PROVISION FOR LOAN LOSSES		30		400		440		870
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		4,763		4,587		14,201		14,257
NON-INTEREST INCOME
Service charges and fees		419		455		1,272		1,328
Gain on sale of loans		188		454		555		758
Earnings on bank-owned life insurance		103		102		318		325
Brokerage		80		84		208		246
Trust		148		168		555		507
Investment security gains		-		-		3		-
Gain on sale of premises and equipment		-		-		489		-
Interchange fees		232		216		691		624
Other		250		304		746		686
TOTAL NON-INTEREST INCOME		1,420		1,783		4,837		4,474
NON-INTEREST EXPENSE
Salaries		1,606		1,627		4,879		4,791
Employee benefits		503		526		1,616		1,424
Occupancy		248		267		807		836
Furniture and equipment		327		356		955		1,002
State shares tax		151		142		445		418
Professional fees		160		173		464		467
Director's fees		88		71		221		203
FDIC assessments		51		163		305		460
Telecommunications		60		98		222		275
Amortization of core deposit intangible		125		140		428		442
Automated teller machine and interchange		173		144		488		412
Other		490		420		1,379		1,378
TOTAL NON-INTEREST EXPENSE		3,982		4,127		12,209		12,108
INCOM E BEFORE INCOM E TAX PROVISION		2,201		2,243		6,829		6,623
INCOM E TAX PROVISION		573		557		1,751		1,736
NET INCOME	$	1,628	$	1,686	$	5,078	$	4,887
EARNINGS PER SHARE	$	0.73	$	0.76	$	2.28	$	2.19
CASH DIVIDENDS PER SHARE	$	0.31	$	0.30	$	0.93	$	0.88
WEIGHTED AVERAGE SHARES OUTSTANDING		2,226,139		2,228,836		2,226,711		2,235,114

	Quarter Ended
(Dollars in Thousands, Except Per Share Data)	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
Operating Highlights
Net income	$	1,628		$	1,840		$	1,610		$	1,417		$	1,686
Net interest income		4,793			4,887			4,961			4,966			4,987
Provision for loan losses		30			330			80			685			400
Non-interest income		1,420			1,989			1,428			1,649			1,783
Non-interest expense		3,982			4,083			4,144			3,923			4,127
Financial Condition Data:
Total assets	$	625,789		$	599,546		$	620,106		$	614,299		$	615,788
Loans, net		339,437			340,748			338,523			335,652			335,733
Intangibles		9,701			9,826			10,002			10,129			10,263
Total deposits
Noninterest-bearing	$	78,549		$	65,028		$	65,574		$	62,877		$	62,133
Savings		67,062			67,976			67,983			65,549			64,601
NOW		75,374			72,212			69,902			70,953			68,265
Money Market		44,537			44,458			48,816			42,130			41,654
Time Deposits		212,864			214,731			230,192			232,283			234,270
Total interest-bearing deposits		399,837			399,377			416,893			410,915			408,790
Core deposits*		265,522			249,674			252,275			241,509			236,653
Selected Ratios
Net interest margin(YTD)		3.56	%		3.58	%		3.68	%		3.68	%		3.72	%
Annualized return on average assets		1.09	%		1.11	%		1.04	%		0.93	%		1.11	%
Annualized return on average equity		9.74	%		10.02	%		9.44	%		8.41	%		10.06	%
Capital Ratios
Total risk-based capital ratio		19.59	%		19.25	%		18.68	%		18.49	%		18.16	%
Tier 1 capital ratio		18.33	%		18.01	%		17.43	%		17.24	%		16.91	%
Leverage ratio		10.28	%		10.17	%		10.13	%		10.00	%		9.90	%
Asset Quality Ratios
Non-performing assets	$	3,933		$	3,510		$	3,435		$	4,148		$	4,104
Allowance for loan losses		5,158			5,211			4,859			4,801			4,574
Allowance for loan losses to total loans		1.50	%		1.51	%		1.42	%		1.41	%		1.34	%
Allowance for loan losses to
non-performing loans		131.13	%		148.45	%		141.43	%		115.75	%		111.45	%
Per Share Data
Earnings per share	$	0.73		$	0.83		$	0.72		$	0.63		$	0.76
Dividend declared per share		0.31			0.31			0.31			0.30			0.30
Book value		31.90			31.59			30.74			30.48			30.42
Common stock price:
Bid	$	32.60		$	34.00		$	30.75		$	28.00		$	26.30
Ask		38.00			36.55			34.00			31.00			29.50
Weighted average common shares		2,226,139			2,227,801			2,226,195			2,223,709			2,228,836

* Core deposits are defined as total deposits less time deposits