The recent shutdown of two banks by the FDIC and state regulators has dominated the news cycles over the past several days.  We’ve been diligently working to understand the facts surrounding the situation and the events leading up to those closures.

Regardless of what happened to the two banks, here is what we know for sure.  At CNB Bank, we have a long history of managing our balance sheet in a conservative fashion, following regulatory guidance, adhering to commonly accepted conservative principles, and implementing the recommendations of our professional audit teams.  This philosophy carries over to managing customer and industry concentrations, as well as a balanced approach with our securities portfolio through a thorough and extensive risk management approach.  

• We’re right here; we collect local deposits and make local loans while properly managing our risks to remain safe and sound in any environment;
• We have a deeply rooted and experienced management team and Board of Directors with a comprehensive knowledge base of our local markets;
• We have solid regulatory and risk management systems that work effectively as well as consistently, providing proper mitigants for business decisions;
• We effectively manage customer and industry concentrations;
• We have zero direct exposure to the risks of unproven, high tech startup companies, like those common in the Silicon Valley of California; and,
• We take pride in our relationship-based model which is focused on building long-term trust with our customers.  

Many questions have surfaced around the complexities of the FDIC coverage.  We encourage you to visit www.FDIC.gov and navigate to the Deposit Insurance Frequently Asked Questions (FAQ’s) in the Resources tab.  Additionally, CNB Bank offers various options including our exclusive Citadel solution if you feel you need increased FDIC insurance coverage. 

We’re right here; we live in your community, and your success is our success.  You have direct access to our team of experienced bankers who stand ready to help in any way.

We’re right here, as we have been for nearly ninety years.

                                 Mark Harrell
                                 President/CEO
                                 CNB Bank