<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-Q

[X]  QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

For the quarterly period ended March 31, 2000


[ ]  TRANSITION REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

For the transition period from ______________ to _____________


Commission file number 0-19028

                              CCFNB BANCORP, INC.
               (Name of small business Issuer in its charter)

PENNSYLVANIA                                            23-2254643
(State or other jurisdiction of                         (I.R.S. Employer
incorporation or organization)                          Identification Number)

232 East Street, Bloomsburg, PA                         17815
(Address of principal executive offices)                (Zip Code)

Issuer's telephone number, including area code:  (570) 784-4400


          Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the
issuer was required to file such reports), and (2) has been subject to
such filing requirings for the past 90 days.

Yes [X]  No [ ]


          Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable date.
1,360,770 shares of $1.25 (par) common stock were outstanding as of May
1, 2000.
<PAGE>   2
                       CCFNB BANCORP, INC. AND SUBSIDIARY

                                 MARCH 31, 2000

                                   INDEX 10-Q

<TABLE>
<CAPTION>
EXHIBIT 27 - FINANCIAL DATA SCHEDULE                                     NO PAGE
                                                                            #
<S>                                                                      <C>
PART I  - FINANCIAL INFORMATION:


        - Consolidated Balance Sheets                                       1


        - Consolidated Statements of Income                                 2


        - Consolidated Statements of Cash Flows                             3


        - Notes to Consolidated Financial Statements                      4 - 10


        - Report of Independent Certified Public Accountants               11


        - Management's Discussion and Analysis of Consolidated
          Financial Condition and Results of Operations                  12 - 18


PART II - OTHER INFORMATION                                                19


SIGNATURES                                                                 20
</TABLE>
<PAGE>   3
CCFNB BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
UNAUDITED

<TABLE>
<CAPTION>
                                                                   MARCH      DECEMBER
                                                                  31, 2000    31, 1999
                                                                  --------    --------
<S>                                                               <C>         <C>
ASSETS
Cash and due from banks.......................................    $  4,139    $  5,855
Interest-bearing deposits with other banks....................         221         217
Investment securities:
  Securities Available-for-Sale...............................      47,845      48,904
  Securities to be Held-to-Maturity (estimated
    fair value 1999, $200)....................................           0         200
Loans, net of unearned income.................................     133,020     134,423
Allowance for loan losses.....................................       1,006         985
                                                                  --------    --------
  Net loans...................................................    $132,014    $133,438
Premises and equipment........................................       5,182       5,274
Accrued interest receivable...................................       1,008       1,002
Other assets..................................................       1,470       1,232
                                                                  --------    --------
     TOTAL ASSETS.............................................    $191,879    $196,122
                                                                  ========    ========
LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES
Deposits:
  Non-interest bearing........................................    $ 13,015    $ 13,672
  Interest bearing............................................     126,060     124,934
                                                                  --------    --------
     Total Deposits...........................................    $139,075    $138,606
Short-term borrowings.........................................      21,052      30,881
Long-term borrowings..........................................       7,342       2,343
Accrued interest and other expenses...........................       1,198       1,231
Other liabilities.............................................          20          14
                                                                  --------    --------
     TOTAL LIABILITIES........................................    $168,687    $173,075
                                                                  --------    --------

STOCKHOLDERS' EQUITY
Common stock, par value $1.25 per share; authorized 5,000,000 shares;
  issued 1,366,770 shares in 2000 and

  1,367,651 shares in 1999....................................    $  1,708    $  1,710
Surplus.......................................................       5,469       5,483
Retained earnings.............................................      17,287      17,014
Accumulated other comprehensive income (loss).................      (1,272)     (1,160)
                                                                  --------    --------
     TOTAL STOCKHOLDERS' EQUITY...............................    $ 23,192    $ 23,047
                                                                  --------    --------
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY...............    $191,879    $196,122
                                                                  ========    ========
</TABLE>

See accompanying notes to Consolidated Financial Statements.


                                          -1-
<PAGE>   4
CCFNB BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS EXCEPT PER SHARE DATA)
UNAUDITED

<TABLE>
<CAPTION>
                                                                        FOR THE THREE
                                                                        MONTHS ENDING
                                                                          MARCH 31,
                                                                          ---------
                                                                       2000       1999
                                                                       ----       ----
<S>                                                                <C>        <C>
INTEREST INCOME
Interest and fees on loans:
  Taxable........................................................  $   2,559  $   2,295
  Tax-exempt.....................................................         31         30
Interest and dividends on investment securities:

  Taxable interest...............................................        502        475
  Tax-exempt interest............................................        182        172
  Dividends......................................................         21         20
Interest on federal funds sold...................................          0         14
Interest on deposits in other banks..............................          3         55
                                                                   ---------  ---------
     TOTAL INTEREST INCOME.......................................  $   3,298  $   3,061
                                                                   ---------  ---------
INTEREST EXPENSE
Interest on deposits.............................................  $   1,246  $   1,224
Interest on short-term borrowings................................        311        236
Interest on long-term borrowings.................................         84         32
                                                                   ---------  ---------
     TOTAL INTEREST EXPENSE......................................  $   1,641  $   1,492
                                                                   ---------  ---------

Net interest income..............................................  $   1,657  $   1,569
Provision for loan losses........................................         20         20
                                                                   ---------  ---------
  NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES............  $   1,637  $   1,549
                                                                   ---------  ---------

NON-INTEREST INCOME
Service charges and fees.........................................  $     148  $     134
Trust department income..........................................         33         33
Securities gains - net...........................................          0         31
Other income.....................................................         44         51
                                                                   ---------  ---------
     TOTAL NON-INTEREST INCOME...................................  $     225  $     249
                                                                   ---------  ---------

NON-INTEREST EXPENSES
Salaries and wages...............................................  $     498  $     463
Pensions and other employee benefits.............................        167        160
Occupancy expense, net...........................................         87         88
Furniture and equipment expense..................................        156        140
Other operating expenses.........................................        339        355
                                                                   ---------  ---------
     TOTAL NON-INTEREST EXPENSES.................................  $   1,247  $   1,206
                                                                   ---------  ---------

Income before income taxes.......................................  $     615  $     592
Income tax expense...............................................        150        141
                                                                   ---------  ---------
    NET INCOME...................................................  $     465  $     451
                                                                   =========  =========

PER SHARE DATA
Net income.......................................................  $     .34  $     .33
Cash dividends...................................................  $     .14  $    .116
Weighted average shares outstanding..............................  1,367,268  1,375,768
</TABLE>

See accompanying notes to Consolidated Financial Statements.

                                 -2-
<PAGE>   5
CCFNB BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
UNAUDITED

<TABLE>
<CAPTION>
                                                                         FOR THE THREE MONTHS
                                                                           ENDING MARCH 31,
                                                                           ----------------
                                                                           2000       1999
                                                                           ----       ----
<S>                                                                      <C>        <C>
OPERATING ACTIVITIES
Net income.............................................................  $    465   $   451
Adjustments to reconcile net income to net cash provided by
 operating activities:
   Provision for loan losses...........................................        20        20
   Provision for depreciation and amortization.........................       135       133
   Premium amortization on investment securities.......................         9        26
   Discount accretion on investment securities.........................        (4)       (6)
   (Gain) on sales of investment securities Available-for-Sale.........         0       (31)
   Deferred income taxes...............................................         0         5
   (Gain) on sale of other real estate.................................         0        (2)
   (Increase) in accrued interest receivable and other assets..........      (183)     (287)
   (Decrease) in accrued interest, other expenses and other
     liabilities.......................................................       (27)      (26)
                                                                         --------   -------
     NET CASH PROVIDED BY OPERATING ACTIVITIES.........................  $    415   $   283
                                                                         --------   -------
INVESTING ACTIVITIES
Proceeds from sales, maturities and redemptions of investment
  securities Available-for-Sale........................................  $    881  $  5,882
Proceeds from maturities and redemptions of Held-to-Maturity
  investment securities................................................       200       200
Purchase of investment securities Available-for-Sale...................         0    (6,818)
Net (increase) decrease in loans.......................................     1,404      (311)
Purchases of premises and equipment....................................       (43)      (14)
Proceeds from sale of other real estate................................         0        26
                                                                         --------   -------
     NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES...............  $  2,442  $ (1,035)
                                                                         --------   -------
FINANCING ACTIVITIES
Net increase (decrease) in deposits....................................  $    469  $ (1,080)
Net increase (decrease) in short-term borrowings.......................    (9,829)      (56)
Net increase in long-term borrowings...................................     4,999        26
Proceeds from issuance of common stock.................................        45        38
Acquisition of treasury stock..........................................       (61)      (17)
Proceeds from sale of treasury stock...................................         0        13
Cash dividends paid....................................................      (192)     (160)
                                                                         --------   -------
     NET CASH PROVIDED BY FINANCING ACTIVITIES.........................  $ (4,569) $ (1,236)
                                                                         --------   -------
     INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS..................  $ (1,712) $ (1,988)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD.......................     6,072    12,486
                                                                         --------   -------
      CASH AND CASH EQUIVALENTS AT END OF PERIOD.......................  $  4,360  $ 10,498
                                                                         ========  ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the year for:
  Interest.............................................................  $  1,670  $  1,493
  Income taxes.........................................................  $     30  $     44
</TABLE>

See accompanying notes to Consolidated Financial Statements.


                                    -3-
<PAGE>   6
CCFNB BANCORP, INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2000


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        The accounting and reporting policies of CCFNB Bancorp, Inc. and
        Subsidiary (the "Corporation") are in accordance with generally
        accepted accounting principles and conform to common practices
        within the banking industry. The more significant policies follow:

        PRINCIPLES OF CONSOLIDATION

        The consolidated financial statements include the accounts of
        CCFNB Bancorp, Inc. and its wholly owned subsidiary, Columbia
        County Farmers National Bank (the "Bank"). All significant
        inter-company balances and transactions have been eliminated in
        consolidation.

        NATURE OF OPERATIONS & LINES OF BUSINESS

        The Corporation provides full banking services, including trust
        services, through the Bank, to individuals and corporate
        customers. The Bank has six offices covering an area of
        approximately 484 square miles in Northeastern Pennsylvania. The
        Corporation and its banking subsidiary are subject to regulation
        of the Office of the Comptroller of the Currency, the Federal
        Deposit Insurance Corporation and the Federal Reserve Bank of
        Philadelphia.

        Gathering deposits and making loans are the major lines of
        business. The deposits are mainly deposits of individuals and
        small businesses and the loans are mainly real estate loans
        covering primary residences and small business enterprises. The
        trust services, under the name of CCFNB and Co., include
        administration of various estates, pension plans, self-directed
        IRA's and other services. A third-party brokerage arrangement,
        Invest, is also resident in the main branch, namely Bloomsburg.
        This Invest Financial Service offers a full line of stocks, bonds
        and other non-insured financial services.

        USE OF ESTIMATES

        The preparation of these consolidated financial statements in
        conformity with generally accepted accounting principles requires
        management to make estimates and assumptions that affect the
        reported amounts of assets and liabilities and disclosure of
        contingent assets and liabilities at the date of these
        consolidated financial statements and the reported amounts of
        income and expenses during the reporting periods. Actual results
        could differ from those estimates.

        INVESTMENT SECURITIES

        The Corporation classifies its investment securities as either
        "Held-to- Maturity" or "Available-for-Sale" at the time of
        purchase. Debt securities are classified as Held-to-Maturity when
        the Corporation has the ability and positive intent to hold the
        securities to maturity. Investment securities Held-to-Maturity are
        carried at cost adjusted for amortization of premiums and
        accretion of discounts to maturity.

                                 -4-
<PAGE>   7
        Debt securities not classified as Held-to-Maturity and equity
        securities included in the Available-for-Sale category, are
        carried at fair value, and the amount of any unrealized gain or
        loss net of the effect of deferred income taxes is reported as a
        component of Stockholders' Equity. Management's decision to sell
        Available-for-Sale securities is based on changes in economic
        conditions controlling the sources and uses of funds, terms,
        availability of and yield of alternative investments, interest
        rate risk, and the need for liquidity.

        The cost of debt securities classified as Held-to-Maturity or
        Available-for-Sale is adjusted for amortization of premiums and
        accretion of discounts to maturity. Such amortization and
        accretion, as well as interest and dividends, is included in
        interest income from investments. Realized gains and losses are
        included in net investment securities gains. The cost of
        investment securities sold, redeemed or matured is based on the
        specific identification method.

        LOANS

        Loans are stated at their outstanding principal balances, net of
        deferred fees or costs, unearned income, and the allowance for
        loan losses. Interest on loans is accrued on the principal amount
        outstanding, primarily on an actual day basis. Non-refundable loan
        fees and certain direct costs are deferred and amortized over the
        life of the loans using the interest method. The amortization is
        reflected as an interest yield adjustment, and the deferred
        portion of the net fees and costs is reflected as a part of the
        loan balance.

        NON-ACCRUAL LOANS - Generally, a loan is classified as
        non-accrual, with the accrual of interest on such a loan
        discontinued when the contractual payment of principal or interest
        has become 90 days past due or management has serious doubts about
        further collectibility of principal or interest, even though the
        loan currently is performing. A loan may remain on accrual status
        if it is in the process of collection and is either guaranteed or
        well secured. When a loan is placed on non-accrual status, unpaid
        interest credited to income in the current year is reversed, and
        unpaid interest accrued in prior years is charged against the
        allowance for credit losses. Certain non-accrual loans may
        continue to perform, that is, payments are still being received
        with those payments generally applied to principal. Non-accrual
        loans remain under constant scrutiny and if performance continues,
        interest income may be recorded on a cash basis based on
        management's judgement as to collectibility of principal.

        ALLOWANCE FOR LOAN LOSSES - The allowance for loan losses is
        established through provisions for loan losses charged against
        income. Loans deemed to be uncollectible are charged against the
        allowance for loan losses, and subsequent recoveries, if any, are
        credited to the allowance.

        A factor in estimating the allowance for loan losses is the
        measurement of impaired loans. A loan is considered impaired when,
        based on current information and events, it is probable that the
        Corporation will be unable to collect all amounts due according to
        the contractual terms of the loan agreement. Under current
        accounting standards, the allowance for loan losses related to
        impaired loans is based on discounted cash flows using the loan's
        effective interest rate or the fair value of the collateral for
        certain collateral dependent loans.

                                                -5-
<PAGE>   8
        The allowance for loan losses is maintained at a level established
        by management to be adequate to absorb estimated potential loan
        losses. Management's periodic evaluation of the adequacy of the
        allowance for loan losses is based on the Corporation's past loan
        loss experience, known and inherent risks in the portfolio,
        adverse situations that may affect the borrower's ability to repay
        (including the timing of future payments), the estimated value of
        any underlying collateral, composition of the loan portfolio,
        current economic conditions, and other relevant factors. This
        evaluation is inherently subjective as it requires material
        estimates, including the amounts and timing of future cash flows
        expected to be received on impaired loans that may be susceptible
        to significant change.

        PREMISES AND EQUIPMENT

        Premises and equipment are stated at cost less accumulated
        depreciation computed principally on the straight-line method over
        the estimated useful lives of the assets. Maintenance and minor
        repairs are charged to operations as incurred. The cost and
        accumulated depreciation of the premises and equipment retired or
        sold are eliminated from the property accounts at the time of
        retirement or sale, and the resulting gain or loss is reflected in
        current operations.

        OTHER REAL ESTATE OWNED

        Other real estate owned is comprised of property acquired through
        a foreclosure proceeding or acceptance of a deed-in-lieu of
        foreclosure and loans classified as in-substance foreclosure. In
        accordance with Statement of Financial Accounting Standards (SFAS)
        No. 114, a loan is classified as in-substance foreclosure when the
        Corporation has taken possession of the collateral regardless of
        whether formal foreclosure proceedings take place. Other real
        estate owned is recorded at fair value at the date of foreclosure,
        establishing a new cost basis. After foreclosure, valuations are
        periodically performed by management, and the real estate is
        carried at the lower of (1) cost or (2) fair value minus estimated
        costs to sell. Income and expenses from operations of other real
        estate owned and changes in the valuation allowance are included
        in loss on other real estate owned.

        INCOME TAXES

        The provision for income taxes is based on the results of
        operations, adjusted primarily for tax-exempt income. Certain
        items of income and expense are reported in different periods for
        financial reporting and tax return purposes. Deferred tax assets
        and liabilities are determined based on the differences between
        the consolidated financial statement and income tax bases of
        assets and liabilities measured by using the enacted tax rates and
        laws expected to be in effect when the timing differences are
        expected to reverse. Deferred tax expense or benefit is based on
        the difference between deferred tax asset or liability from period
        to period.

        PER SHARE DATA

        Statement of Financial Accounting Standards (SFAS) No. 128,
        "Earnings Per Share", requires dual presentation of basic and
        diluted earnings per share. Basic earnings per share is calculated
        by dividing net income by the weighted average number of shares of
        common stock outstanding at the end of each period. Diluted
        earnings per share is calculated by increasing the denominator for
        the assumed conversion of all potentially dilutive securities. The
        Corporation does not have any securities which have or will have a
        dilutive effect, accordingly, basic and diluted per share data is
        the same.

                                       -6-
<PAGE>   9
        CASH FLOW INFORMATION

        For purposes of reporting consolidated cash flows, cash and cash
        equivalents include cash on hand and due from banks,
        interest-bearing deposits in other banks and federal funds sold.
        The Corporation considers cash classified as interest-bearing
        deposits with other banks as a cash equivalent because they are
        represented by cash accounts essentially on a demand basis.
        Federal funds are also included as a cash equivalent because they
        are generally purchased and sold for one-day periods.

        TRUST ASSETS AND INCOME

        Property held by the Corporation in a fiduciary or agency capacity
        for its customers is not included in the accompanying consolidated
        financial statements because such items are not assets of the
        Corporation. Trust Department income is recognized on a cash basis
        and is not materially different than if it was reported on an
        accrual basis.

        RECENT ACCOUNTING PRONOUNCEMENTS

        Statement of Financial Accounting Standards (SFAS) No. 133 (as
        amended by SFAS No. 137), "Accounting for Derivative Instruments
        and Hedging Activities", becomes effective for financial reporting
        periods beginning after June 15, 2000. SFAS No. 133 requires fair
        value accounting for all stand-alone derivatives and many
        derivatives embedded in other instruments and contracts. Since the
        Corporation does not enter into transactions involving derivatives
        described in the standard and does not engage in hedging
        activities, the standard is not expected to have a significant
        impact on the Corporation's consolidated financial condition or
        results of operations.

NOTE 2 - ALLOWANCE FOR LOAN LOSSES

        Changes in the allowance for loan losses for the periods ended
        March 31, 2000 and March 31, 1999 were as follows:

<TABLE>
<CAPTION>
                                                             (Amounts in Thousands)
                                                             ----------------------
                                                                2000        1999
                                                                ----        ----
<S>                                                           <C>         <C>
        Balance, beginning of year.........................   $    985    $    954
        Provision charged to operations....................         20          20
        Loans charged-off..................................        (15)        (12)
        Recoveries.........................................         16           6
                                                              --------    --------
        Balance, March 31..................................   $  1,006    $    985
                                                              ========    ========
</TABLE>

        At March 31, 2000 the recorded investment in loans that are
        considered to be impaired as defined by SFAS No. 114 was $14,883.
        No additional charge to operations was required to provide for the
        impaired loans since the total allowance for loan losses is
        estimated by management to be adequate to provide for the loan
        loss allowance required by SFAS No. 114 along with any other
        potential losses.

        At March 31, 2000, there were no significant commitments to lend
        additional funds with respect to non-accrual and restructured
        loans.

                                       -7-
<PAGE>   10
     NOTE 3 - SHORT-TERM BORROWINGS

        Federal funds purchased, securities sold under agreements to
        repurchase, and Federal Home Loan Bank advances generally
        represented overnight or less than 30-day borrowings. U.S.
        Treasury tax and loan notes for collections made by the Bank were
        payable on demand.

     NOTE 4 - LONG-TERM BORROWINGS

        Long-term borrowings are comprised of advances from the Federal
        Home Loan Bank.

     NOTE 5 - STOCKHOLDERS' EQUITY

        Changes in stockholders' equity for the period ended March 31,
        2000 were as follows:

<TABLE>
<CAPTION>
                                                      (AMOUNTS IN THOUSANDS, EXCEPT COMMON SHARE DATA)
                                                      ------------------------------------------------
                                                                                          ACCUMULATED
                                                                                             OTHER
                                                                       COMP-                 COMP-
                                                                    REHENSIVE              REHENSIVE
                                       COMMON    COMMON               INCOME    RETAINED    INCOME     TREASURY
                                       SHARES     STOCK    SURPLUS    (LOSS)    EARNINGS    (LOSS)      STOCK     TOTAL
                                       ------     -----    -------    ------    --------    ------      -----     -----
<S>                                  <C>         <C>       <C>      <C>         <C>       <C>          <C>       <C>
Balance at January 1, 2000.........  1,367,651   $ 1,710   $ 5,483   $     0    $17,014    $(1,160)    $    0    $23,047
Comprehensive Income:
 Net income........................          0         0         0       465        465          0          0        465
 Change in unrealized gain (loss)
  on investment securities
  available-for-sale net of
  reclassification adjustment
  and tax effects..................          0         0         0      (112)         0       (112)         0       (112)
                                                                     -------
         TOTAL COMPREHENSIVE INCOME                                  $   353
Issuance of 2,619 shares of common                                   =======
  stock under dividend reinvestment
  and stock purchase plans.........      2,619         3        42                    0          0          0         45
Purchase of 3,500 shares of
  treasury stock...................          0         0         0                    0          0        (61)       (61)
Retirement of 3,500 shares of
  treasury stock...................     (3,500)       (5)      (56)                   0          0         61          0
Cash dividends $.14 per share......          0         0         0                 (192)         0          0       (192)
                                     ---------   -------   -------              -------    -------     ------    -------
Balance at March 31, 2000..........  1,366,770   $ 1,708   $ 5,469              $17,287    $(1,272)    $    0    $23,192
                                     =========   =======   =======              =======    =======     ======    =======
</TABLE>

                                                -8-
<PAGE>   11
NOTE 6 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK AND CONCENTRATIONS
         OF CREDIT RISK

         The Corporation is a party to financial instruments with
         off-balance sheet risk in the normal course of business to meet
         the financing needs of its customers. These financial instruments
         include commitments to extend credit, standby letters of credit
         and commercial letters of credit. Those instruments involve, to
         varying degrees, elements of credit and interest rate risk in
         excess of the amount recognized in the consolidated balance
         sheets. The contract or notional amounts of those instruments
         reflect the extent of involvement the Corporation has in
         particular classes of financial instruments. The Corporation does
         not engage in trading activities with respect to any of its
         financial instruments with off-balance sheet risk.

         The Corporation may require collateral or other security to
         support financial instruments with off-balance sheet credit risk.
         The contract or notional amounts at March 31, 2000 and December
         31, 1999 were as follows:

<TABLE>
<CAPTION>
                                                                (Amounts in Thousands)
                                                                ----------------------
                                                                  March     December
                                                                 31, 2000   31, 1999
                                                                 --------   --------
<S>                                                              <C>        <C>
         Financial instruments whose contract amounts
          represent credit risk:
           Commitments to extend credit........................  $ 10,602   $ 10,342
           Financial standby letters of credit.................       604        639
           Performance standby letters of credit...............        11         11
           Dealer floor plans..................................     1,603        991
</TABLE>

         Commitments to extend credit are agreements to lend to a customer
         as long as there is no violation of any condition established in
         the contract. Commitments generally have fixed expiration dates or
         other termination clauses and may require payment of a fee.
         Because many of the commitments are expected to expire without
         being drawn upon, the total commitment amounts do not necessarily
         represent future cash requirements. The Corporation evaluates each
         customer's creditworthiness on a case-by-case basis. The amount of
         collateral obtained, if deemed necessary by the Corporation upon
         extension of credit, is based on management's credit evaluation of
         the counter-party. Collateral held varies but may include accounts
         receivable, inventory, property, plant, equipment and
         income-producing commercial properties.

         Standby letters of credit and commercial letters of credit are
         conditional commitments issued by the Corporation to guarantee the
         performance of a customer to a third party. The credit risk
         involved in issuing letters of credit is essentially the same as
         that involved in extending loan facilities to customers. The
         Corporation holds collateral supporting those commitments for
         which collateral is deemed necessary.

         The Corporation's exposure to credit loss in the event of
         nonperformance by the other party to the financial instrument for
         commitments to extend credit and letters of credit is represented
         by the contractual notional amount of those instruments. The
         Corporation uses the same credit policies in making commitments
         and conditional obligations, as it does for on-balance sheet
         instruments.

                                  -9-
<PAGE>   12
         The Corporation granted commercial, consumer and residential loans
         to customers within Pennsylvania. Of the total loan portfolio at
         March 31, 2000 77.3% was for real estate loans, principally
         residential. It was the opinion of management that the high
         concentration did not pose an adverse credit risk. Further, it was
         management's opinion that the remainder of the loan portfolio was
         balanced and diversified to the extent necessary to avoid any
         significant concentration of credit.

NOTE 7 - MANAGEMENT'S ASSERTIONS AND COMMENTS REQUIRED TO BE PROVIDED WITH FORM
         10Q FILING

         In management's opinion, the consolidated interim financial
         statements reflect a fair presentation of the consolidated
         financial position of CCFNB Bancorp, Inc. and Subsidiary, and the
         results of their operations and their cash flows for the interim
         periods presented. Further, the consolidated interim financial
         statements reflect all adjustments, which are in the opinion of
         management, necessary to present fairly the consolidated financial
         condition and consolidated results of operations and cash flows
         for the interim period presented and that all such adjustments to
         the consolidated financial statements are of a normal recurring
         nature.

         The results of operations for the three-month period ended March
         31, 2000 are not necessarily indicative of the results to be
         expected for the full year.

         These consolidated interim financial statements have been prepared
         in accordance with requirements of Form 10Q and therefore do not
         include all disclosures normally required by generally accepted
         accounting principles applicable to financial institutions as
         included with consolidated financial statements included in the
         Corporation's annual Form 10K filing. The reader of these
         consolidated interim financial statements may wish to refer to the
         Corporation's annual report or Form 10K for the period ended
         December 31, 1999, filed with the Securities and Exchange
         Commission.

NOTE 8 - AMENDMENT OF RULE 10-01 OF REGULATION S-X REQUIRING REVIEWED QUARTERLY
         FINANCIAL STATEMENTS

         In accordance with the new amendment effective for the period
         ended March 31, 2000 the accompanying consolidated financial
         statements have been reviewed by Independent Certified Public
         Accountants whose report is being submitted as an integral part of
         this Form 10Q filing.

                                          -10-
<PAGE>   13
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS



Board of Directors and Stockholders of CCFNB Bancorp, Inc.:


We have reviewed the accompanying consolidated balance sheet of CCFNB
Bancorp, Inc. and Subsidiary as of March 31, 2000, and the related
consolidated statements of income and cash flows for the three-month
period then ended. These consolidated financial statements are the
responsibility of the management of CCFNB Bancorp, Inc. and Subsidiary.

We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical
procedures to financial data and making inquiries of persons responsible
for financial and accounting matters. It is substantially less in scope
than an audit conducted in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole. Accordingly, we do
not express such an opinion.

Based on our review, we are not aware of any material modifications that
should be made to the March 31, 2000 financial statements for them to be
in conformity with generally accepted accounting principles.

The accompanying balance sheet of CCFNB Bancorp, Inc. and Subsidiary for
the year ended December 31, 1999, was audited by us as part of our audit
of the financial statements for the year ended December 31, 1999 taken as
a whole and we expressed an unqualified opinion on them in our report
dated January 18, 2000, but we have not performed any auditing procedures
since that date.

The accompanying statements of income and cash flows of CCFNB Bancorp,
Inc. and Subsidiary for the three-month period ended March 31, 2000 were
not audited by us and, accordingly, we do not express an opinion on them.


                                           /S/ J.H. Williams & Co., LLP
                                           -------------------------------------

J.H. Williams & Co., LLP
Kingston, Pennsylvania
May 5, 2000

                                      -11-
<PAGE>   14
                 CCFNB BANCORP, INC. AND SUBSIDIARY
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Consolidated Summary of Operations
(Dollars in Thousands, except for per share data)

<TABLE>
<CAPTION>
                                           AT AND FOR THE NINE MONTHS
                                                 ENDED MARCH 31,     ---------AT AND FOR THE YEARS ENDED DECEMBER 31,----------
                                                 ---------------     ----------------------------------------------------------
                                                2000        1999        1999        1998        1997        1996        1995
                                                ----        ----        ----        ----        ----        ----        ----
<S>                                          <C>         <C>         <C>         <C>         <C>         <C>         <C>
   Income and Expense:
     Interest income.......................  $    3,298  $    3,061  $   12,669  $   12,444  $   12,498  $   11,844  $   11,466
     Interest expense......................       1,641       1,492       6,099       6,072       5,976       5,588       5,557
                                             ----------  ----------  ----------  ----------  ----------  ----------  ----------
     Net interest income...................       1,657       1,569  $    6,570  $    6,372       6,522       6,256       5,909
     Loan loss provision...................          20          20          78          78          60          80          42
                                             ----------  ----------  ----------  ----------  ----------  ----------  ----------
     Net interest income after loan loss
       provision...........................       1,637       1,549       6,492       6,294       6,462       6,176       5,867
     Non-interest income...................         225         249       1,050         981         804         762         693
     Non-interest expense..................       1,247       1,206       4,818       4,739       4,492       4,450       4,374
                                             ----------  ----------  ----------  ----------  ----------  ----------  ----------
     Income before income taxes............         615         592       2,724       2,536       2,774       2,488       2,186
     Income taxes..........................         150         141         685         634         749         664         561
                                             ----------  ----------  ----------  ----------  ----------  ----------  ----------
     Net income............................         465         451       2,039       1,902       2,025       1,824       1,625
                                             ==========  ==========  ==========  ==========  ==========  ==========  ==========
   Per Share: (1)
     Net income............................  $      .34  $      .33  $     1.48  $     1.38  $     1.47  $     1.33  $     1.19
     Cash dividends paid...................         .14        .116         .51         .46         .46         .45         .45
     Average shares outstanding............   1,367,268   1,375,768   1,375,572   1,378,339   1,381,800   1,375,875   1,367,595

   Average Balance Sheet:
     Loans.................................  $  132,925  $  118,830  $  123,185  $  116,490  $  116,771  $  112,341  $  111,980
     Investments...........................      48,365      49,255      49,827      45,878      40,307      39,248      37,063
     Other earning assets..................         226       5,922       2,739       4,952       5,053       3,739       1,727
     Total assets..........................     191,545     183,506     186,597     177,643     171,159     164,512     157,957
     Deposits..............................     138,536     136,065     138,963     131,366     117,086     117,414     116,495
     Other interest-bearing liabilities....      24,009      22,679      22,874      22,660      20,198      14,860      11,766
     Stockholders' equity..................      22,793      23,303      22,874      22,264      20,690      19,512      18,067

   Balance Sheet Data:
     Loans.................................     133,020     118,863     134,423     118,558     119,045     115,590     111,831
     Investments...........................      47,854      48,249      49,104      48,151      43,862      37,407      40,384
     Other earning assets..................         221       5,666         217       6,105         582       6,856         385
     Total assets..........................     191,879     183,839     196,122     185,258     173,866     170,086     162,066
     Deposits..............................     139,075     136,599     138,606     137,679     127,719     131,400     128,985
     Other interest-bearing liabilities....      28,394      22,679      23,458      22,709      22,802      16,951      12,430
     Stockholders' equity..................      23,192      23,377      23,047      23,480      22,105      20,657      19,512

   Ratios: (2)
     Return on average assets..............        .97%        .98%       1.09%       1.07%       1.18%       1.11%       1.03%
     Return on average equity..............       8.16%       7.74%       8.91%       8.54%       9.79%       9.35%       8.99%
     Dividend payout ratio.................      41.08%      35.48%      34.09%      33.59%      31.65%      33.95%      34.35%
     Average equity to average assets ratio      11.90%      12.70%      11.75%      12.53%      12.71%      11.86%      11.44%
</TABLE>

(1)   Per share data has been calculated on the weighted average number of
      shares outstanding.

(2)   The ratios for the three month period ending March 31, 2000 are
      annualized.

                                      -12-
<PAGE>   15
The following discussion and analysis of the financial condition and
results of operations of the Corporation should be read in conjunction
with the consolidated financial statements of the Corporation. The
consolidated financial condition and results of operations of the
Corporation are essentially those of the Bank. Therefore, the discussion
and analysis that follows is directed primarily at the performance of the
Bank.

Overview

Total assets decreased 2.1% to $191.9 million at March 31, 2000 from
$196.1 million at December 31, 1999. Net income increased 3.1% through
March 31, 2000 to $465,000 or 34 cents per share, compared to $451,000 or
33 cents per share for the same three month period ended March 31, 1999.
Loans decreased in 2000 by 1% to $133.0 million at March 31, 2000 from
$134.4 million at December 31, 1999.

Results of Operations - For the Three Months Ended March 31, 2000 and
March 31, 1999.

Net income is affected by five major components: net interest income or
the difference between interest income earned on loans and investments and
interest expense paid on deposits and borrowed funds; the provision for
loan losses, which is the amount charged against net interest income and
added to the allowance for loan losses to provide a reserve for potential
future loan losses; other non-interest income, which is made up of certain
fees, gains and losses from the sale of investment securities, trust
department income and other items; and other non-interest expenses, which
consist primarily of salaries and benefits, general overhead expenses,
other operational expenses and income taxes. Each of these major
components is reviewed in more detail in the following discussion.

Net income for three months ended March 31, 2000 was $465,000 or 34 cents
per share, as compared to $451,000 or 33 cents per share, for the
comparable period in 1999. Interest income increased $237,000, interest
expense increased $149,000, non-interest expense including income taxes
increased $50,000 and non-interest income decreased $24,000, keeping in
mind that in 2000 there were no security gains as compared to a $31,000
gain in 1999, the combination thereof being the contributing factors for
the $14,000 increase in net income comparing March 31, 1999 to March 31,
2000.

Return on average assets and return on average equity were .97% and 8.16%,
respectively, for the three months ended March 31, 2000, as compared to
1.09% and 8.91%, respectively, for the comparable period in 1999.

Net Interest Income

For the three months ended March 31, 1999 and 2000, net interest income
was $1.5 and $1.6 million, respectively. The net interest margin reflected
an increase to 3.89% for the three months ended March 31, 2000 from 3.85%
for the comparable period in 1999. Average interest earning assets at
March 31, 2000 increased by 4.3% over March 30, 1999 to $181,516 from
$174,007.

Average loans outstanding increased from $118.8 million to $132.9 million
or 11.9% for the three months ended March 31, 2000, as compared to the
three months ended March 31, 1999.

The outstanding balance of loans at March 31, 2000 decreased from $134.4
million at December 31, 1999 to $133.0 million at March 31, 2000.

                                      -13-
<PAGE>   16
Shown below is a summary of past due and non-accrual loans:

<TABLE>
<CAPTION>
                                                             IN THOUSANDS OF DOLLARS
                                                             -----------------------
                                                                 MARCH    DECEMBER
                                                               31, 2000   31, 1999
                                                               --------   --------
<S>                                                            <C>        <C>
     Past due and non-accrual:
       Days 30 - 89.........................................   $  1,261   $    665
       Days 90 plus.........................................        175        173
       Non-accrual..........................................        199        199
                                                               --------   --------
                                                               $  1,635   $  1,037
                                                               ========   ========
</TABLE>

Past due and non-accrual loans increased to $1.6 million at March 31, 2000
from $1.0 million at December 31, 1999. These real estate delinquencies
mainly fall into the 60 day and below category. The increase specifically
was attributable entirely to real estate loans which become past due
during the three months which are fully secured by adequate real estate
collateral.

Any loans classified for regulatory purposes as loss, doubtful,
substandard, or special mention that have not been disclosed under
Industry Guide 3 do not (i) represent or result from trends or
uncertainties which management reasonably expects will materially impact
future operating results, liquidity, or capital resources, or (ii)
represent material credits about which management is aware of any
information which causes management to have serious doubts as to the
ability of such borrowers to comply with the loan repayment terms.

The Corporation adheres to principles provided by Financial Accounting
Standards Board Statement No. 114, "Accounting by Creditors for Impairment
of a Loan" - Refer to Note 2 above for other details.

The following analysis provides a schedule of loan maturities/interest
rate sensitivities. This schedule presents a repricing and maturity
analysis as required by the FFIEC:

<TABLE>
<CAPTION>
                                                                        IN THOUSANDS
                                                                         OF DOLLARS
                                                                         ----------
                                                                           MARCH
           MATURITY AND REPRICING DATA FOR LOANS AND LEASES              31, 2000
           ------------------------------------------------              --------
<S>                                                                      <C>
Closed-end loans secured by first liens on 1-4 family residential
 properties with a remaining maturity or repricing frequency of:
    (1) Three months or less...........................................   $  3,000
    (2) Over three months through 12 months............................     11,911
    (3) Over one year through three years..............................     29,724
    (4) Over three years through five years............................      4,190
    (5) Over five years through 15 years...............................      8,136
    (6) Over 15 years..................................................      1,984
All loans and leases other than closed-end loans secured by first
 liens on 1-4 family residential properties with a remaining maturity
 or repricing frequency of:
    (1) Three months or less...........................................     18,033
    (2) Over three months through 12 months............................     12,708
    (3) Over one year through three years..............................     16,339
    (4) Over three years through five years............................     10,182
    (5) Over five years through 15 years...............................     12,822
    (6) Over 15 years..................................................      4,369
                                                                          --------
       Sub-total.......................................................   $133,398
Add:  non-accrual loans not included above.............................        199
Less:  unearned income.................................................       (577)
                                                                          --------
       Total Loans and Leases..........................................   $133,020
                                                                          ========
</TABLE>

                                         -14-
<PAGE>   17
Interest income from investment securities reflects a 5.7% increase
comparing $705,000 for the three months ended March 31, 2000, and the
$667,000 for the comparable period of 1999. The average balance of
investment securities for the three months ended March 31, 2000 decreased
1.8% to $48.4 million, compared to the $49.3 million for the same period
of 1999.

Total interest expense increased $149,000 or 10.0% for the first three
months of 2000, as compared to the first three months of 1998.

Average short-term borrowings increased from $20.4 million at March 31,
1999 to $23.9 million at March 31, 2000. This 17.3% increase is the net
result of a decrease in depositor repurchase agreements from an average
$20.1 million at March 31, 1999 to $15.8 million at March 31, 2000 and
conversely, the fact that short-term borrowings from Federal Home Loan
Bank were $0 at March 31, 1999 and $7.7 million at March 31, 2000.

Long-term borrowings from Federal Home Loan Bank also increased from an
average $2.3 million at March 31, 1999 to $5.7 million at March 31, 2000,
a 147.8% increase.

The following table sets forth, for the periods indicated, information
regarding: (1) the total dollar amount of interest income from
interest-earning assets and the resultant average yields; (2) the total
dollar amount of interest expense on interest-bearing liabilities and the
resultant average cost; (3) net interest income; (4) net interest margin;
(5) tax equivalent net interest income; and (6) tax equivalent net
interest margin. Information is based on average daily balances during the
indicated periods.

<TABLE>
<CAPTION>
Average Balance Sheet and Rate Analysis
(Dollars in Thousands)
                                                       -----------MARCH 2000---------   -----------MARCH 1999---------
                                                                  ----------                       ----------
                                                                   INTEREST    AVERAGE               INTEREST    AVERAGE
                                                        AVERAGE     INCOME/     YIELD/    AVERAGE     INCOME/     YIELD/
                                                       BALANCE(1)  EXPENSE(2)    RATE    BALANCE(1)  EXPENSE(2)    RATE
                                                       ----------  ----------    ----    ----------  ----------    ----
<S>                                                    <C>         <C>         <C>       <C>         <C>          <C>
   ASSETS:
   Interest-bearing deposits with other financial
     institutions....................................   $    226    $      3     5.31%    $  4,695    $     55     4.69%
   Investment securities:
     U.S. government securities......................     32,642         502     6.15%      33,377         475     5.69%
     State and municipal obligations (3).............     14,583         182     7.56%      14,521         172     7.18%
     Other securities................................      1,140          21     7.37%       1,357          20     5.90%
                                                        --------    --------     ----     --------    --------     ----
   Total Investment Securities.......................   $ 48,365    $    705     5.83%    $ 49,255    $    667     5.42%
   Federal funds sold................................          0           0     0.00%       1,227          14     4.56%
   Consumer..........................................     12,439         249     8.01%       9,411         199     8.46%
   Dealer floor plan.................................      6,162         127     8.24%       2,304          45     7.81%
   Mortgage..........................................    102,635       1,969     7.67%      97,941       1,902     7.77%
   Commercial........................................      9,313         214     9.19%       6,832         149     8.72%
   Tax free (3)......................................      2,376          31     7.91%       2,342          30     7.76%
                                                        --------    --------     ----     --------    --------     ----
   Total loans.......................................   $132,925    $  2,590     7.79%    $118,830    $  2,325     7.83%
   Total interest earning assets.....................    181,516       3,298     7.27%     174,007       3,061     7.04%
                                                        --------    --------     ----     --------    --------     ----
   Reserve for loan losses...........................   $ (1,003)                         $   (965)
   Cash and due from banks...........................      1,886                             1,612
   Other assets......................................      9,146                             8,852
                                                        --------                          --------
   Total assets......................................   $191,545                          $183,506
                                                        ========                          ========
</TABLE>

                                                 -15-
<PAGE>   18
<TABLE>
<CAPTION>
                                                             -----------MARCH 2000---------   -----------MARCH 1999---------
                                                                        ----------                       ----------
                                                                         INTEREST    AVERAGE               INTEREST    AVERAGE
                                                              AVERAGE     INCOME/     YIELD/    AVERAGE     INCOME/     YIELD/
                                                             BALANCE(1)  EXPENSE(2)    RATE    BALANCE(1)  EXPENSE(2)    RATE
                                                             ----------  ----------    ----    ----------  ----------    ----
<S>                                                          <C>         <C>         <C>      <C>         <C>          <C>
         LIABILITIES AND CAPITAL:
         SUPER NOW deposits................................   $ 21,343    $     68     1.27%    $ 21,303    $     76     1.43%
         IRA's under $100,000..............................      8,342         103     4.94%       8,254         101     4.89%
         Money market deposits.............................      9,579          66     2.76%      11,306          77     2.72%
         Savings deposits..................................     21,637         138     2.55%      21,500         135     2.51%
         Time deposits including IRA's over $100,000.......     16,432         241     5.87%      12,495         181     5.79%
         Other time deposits under $100,000................     47,801         630     5.27%      49,015         654     5.34%
                                                              --------    --------     ----     --------    --------     ----
         Total interest-bearing deposits...................   $125,134    $  1,246     3.98%    $123,873    $  1,224     3.95%
                                                              --------    --------     ----     --------    --------     ----
         U.S. treasury short-term borrowings...............        423           7     6.62%         317           4     5.05%
         Short-term borrowings - other.....................      7,710         112     0.00%           0           0     0.00%
         Long-term borrowings..............................      5,695          84     5.90%       2,300          32     5.57%
         Repurchase agreements.............................     15,762         192     4.87%      20,062         232     4.63%
                                                              --------    --------     ----     --------    --------     ----
         Total interest-bearing liabilities................   $154,724    $  1,641     4.24%    $146,552    $  1,492     4.07%
                                                              --------    --------     ----     --------    --------     ----
         Demand deposits...................................   $ 12,812                          $ 12,192
         Other liabilities.................................      1,216                             1,459
         Stockholders' equity..............................     22,793                            23,303
                                                                ------                            ------
         Total liabilities and capital.....................   $191,545                          $183,506
                                                              ========                          ========
         NET INTEREST INCOME/NET INTEREST MARGIN (4)......                $  1,657     3.65%                $  1,569     3.61%
                                                 ==                       ========     ====                 ========     ====
         TAX EQUIVALENT NET INTEREST INCOME/
          NET INTEREST MARGIN (5)..........................               $  1,767     3.89%                $  1,673     3.85%
                                                                          ========     ====                 ========     ====
</TABLE>

      (1) Average volume information was computed using daily averages.

      (2) Interest on loans includes fee income.

      (3) Yield on tax-exempt obligations has been computed on a tax-equivalent
          basis.

      (4) Net interest margin is computed by dividing net interest income by
          total interest earning assets.

      (5) Interest and yield are presented on a tax-equivalent basis using 34%
          for 2000 and 1999.

      Provision for Loan Losses

      The provision for loan losses is based on management's evaluation of the
      allowance for loan losses in relation to the credit risk inherent in the
      loan portfolio. In establishing the amount of the provision required,
      management considers a variety of factors, including but not limited to,
      general economic conditions, volumes of various types of loans, collateral
      adequacy and potential losses from significant borrowers. On a monthly
      basis, the Board of Directors and the Credit Administration Committee
      review information regarding specific loans and the total loan portfolio
      in general in order to determine the amount to be charged to the provision
      for loan losses.

      For the three month period ending March 31, 2000 and 1999, the provision
      for loan losses was $20,000.

                                      -16-
<PAGE>   19
Non-Interest Income

The following table sets forth, for the periods indicated, the major
components of non-interest income:

<TABLE>
<CAPTION>
                                                                THREE MONTHS ENDED
                                                                    MARCH 31,
                                                                    ---------
                                                                2000        1999
                                                                ----        ----
                                                             (Dollars in Thousands)
<S>                                                           <C>         <C>
Service charges and fees..................................    $    148    $    134
Trust department income...................................          33          33
Investment securities gain - net..........................           0          31
Invest income.............................................          13          21
Other.....................................................          31          30
                                                              --------    --------
     Total................................................    $    225    $    249
                                                              ========    ========
</TABLE>

For the three months ended March 31, 2000, total non-interest income
decreased $24,000 to $225,000 compared with $249,000 for the three months
ended March 31, 1999. The decrease is the result of a gain on sale of
securities in 1999 of $31,000 compared to $0 in 2000, a 10.4% increase in
service charges and fees at $134,000 at March 31, 1999 to $148,000 at
March 31, 2000 and a decrease in invest income from $21,000 at March 31,
1999 to $13,000 at March 31, 2000.

Non-Interest Expenses

Generally, non-interest expense accounts for the cost of maintaining
facilities, providing salaries and necessary benefits to employees, and
general operating costs such as insurance, supplies, advertising, data
processing services, taxes and other related expenses. Some of the costs
and expenses are variable while others are fixed. To the extent possible,
the Company utilizes budgets and related measures to control variable
expenses. The following table sets forth, for the periods indicated, the
major components of non-interest expenses:

<TABLE>
<CAPTION>
                                                                THREE MONTHS ENDED
                                                                    MARCH 31,
                                                                    ---------
                                                                2000        1999
                                                                ----        ----
                                                             (Dollars in Thousands)
<S>                                                           <C>         <C>
Salaries and wages.......................................     $    498    $    463
Employee benefits........................................          167         160
Net occupancy expense....................................           87          88
Furniture and equipment expense..........................          156         140
FDIC insurance...........................................            7           5
State shares tax.........................................           54          46
Other expense............................................          278         304
                                                              --------    --------
     Total...............................................     $  1,247    $  1,206
                                                              ========    ========
</TABLE>

An increase of $41,000 occurred when comparing March 31, 2000 total
non-interest expense at $1,206 million to March 31, 1999 at $1,247
million. Salaries and wages increased from $463,000 at March 31, 1999 to
$498,000 at March 31, 2000, a 7.6% increase. This was a result of normal
merit increases and the addition of an Information Systems Administrator
to the management team.

                                      -17-
<PAGE>   20
The 4.4% increase in employee benefits was generally in the cost of health
insurance and FICA tax.

Other increases in non-interest expenses were: furniture and equipment
expense from $140,000 at March 31, 1999 to $156,000 at March 31, 2000. A
part of this increase was depreciation on Furniture and Fixtures of
$44,000 compared to $30,000 for the same period in 1999. Shares Tax
increased 17.4% from $46,000 at March 31, 1999 to $54,000 at March 31,
2000.

A decrease of 8.6% in other non-interest expense represents a decrease in
Director Fees of 7.7% from $28,700 at March 31, 1999 to $26,500 at March
31, 2000; Stationery and Supplies were $38,100 at March 31, 1999 compared
to $29,200 at March 31, 2000; a 23.4% decrease and Legal and Professional
expense decreased 23.0% from $42,600 at March 31, 1999 to $32,800 at March
31, 2000. Y2K expense of $6,000 at March 31, 1999 was, of course, not
needed in 2000 and thus was $0. Advertising expenses were down $4,000 from
$18,000 at March 31, 1999 to $14,000 at March 31, 2000.

Capital

A major strength of a financial institution is a strong capital position.
This capital is very critical as it must provide growth, payment to
stockholders, and absorption of unforeseen losses. The federal regulators
provide standards that must be met. These standards measure
"risk-adjusted" assets against different categories of capital. The
"risk-adjusted" assets reflect off balance sheet items, such as
commitments to make loans, and also place balance sheet assets on a "risk"
basis for collectibility. The adjusted assets are measured against Tier I
Capital and Total Qualifying Capital. Tier I Capital is common
stockholders' equity and Tier II Capital includes the allowance for loan
losses. Allowance for loan losses must be lower than or equal to common
stockholders' equity to be eligible for Total Qualifying Capital.

The Company exceeds all minimum capital requirements as reflected in the
following table:

<TABLE>
<CAPTION>
                                            MARCH 31, 2000      DECEMBER 31, 1999
                                            --------------      -----------------
                                                       MINIMUM                 MINIMUM
                                         CALCULATED    STANDARD  CALCULATED    STANDARD
                                           RATIOS       RATIOS     RATIOS       RATIOS
                                           ------       ------     ------       ------
<S>                                      <C>           <C>       <C>           <C>
Risk Based Ratios:
Tier I Capital to risk-weighted assets..   19.78%       4.00%      17.94%       4.00%
Total Qualifying Capital to
  risk-weighted assets..................   20.60%       8.00%      18.68%       8.00%
</TABLE>


Additionally, certain other ratios also provide capital analysis as
follows:

<TABLE>
<CAPTION>
                                                                  MARCH   DECEMBER
                                                                31, 2000  31, 1999
                                                                --------  --------
<S>                                                             <C>       <C>
Tier I Capital to average assets...........................      12.74%    12.94%
</TABLE>

Management believes that the Bank's current capital position and liquidity
positions are strong and that its capital position is adequate to support
its operations.

                                      -18-
<PAGE>   21
PART II - Other Information:

Item 1.  Legal Proceedings

Management and the Corporation's legal counsel are not aware of any
litigation that would have a material adverse effect on the consolidated
financial position of the Corporation. There are no proceedings pending
other than the ordinary routine litigation incident to the business of
the Corporation and its subsidiary, Columbia County Farmers National
Bank. In addition, no material proceedings are pending or are known to
be threatened or contemplated against the Corporation and the Bank by
government authorities.

Item 2.  Changes in Securities - Nothing to report.



Item 3.  Defaults Upon Senior Securities - Nothing to report.



Item 4. Submission of Matters to a Vote of Security Holders - Nothing to
report.

Item 5.  Other Information

On February 10, 2000 the Board of Directors voted to appoint Rodney B.
Keller as a member of the Board of Directors to fill the vacancy created
by the death of Stanley Barchik. The Oath of Office was administered to
Mr. Keller before the April 24, 2000 Board meeting.

Item 6. Exhibits and Reports on Form 8-K - Nothing to report.

                                      -19-
<PAGE>   22
                           SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                     CCFNB BANCORP, INC.
                                        (Registrant)




                                     By /s/ Paul E. Reichart
                                       ---------------------
                                        Paul E. Reichart
                                        President & CEO

                                     Date: May 12, 2000


                                     By /s/ Virginia D. Kocher
                                        ----------------------
                                        Virginia D. Kocher
                                        Treasurer

                                     Date: May 12, 2000

                              -20-