Together, Michael Peduzzi, President and CEO of CNB Bank, and
Angela Wilcoxson, EVP/Chief Commercial Banking Officer, have
announced plans to launch a new bank division, Impressia Bank.
Designed for women by women, Impressia Bank will be a full-service
banking division of CNB Bank dedicated to the professional and
financial development and advancement of women business owners and
women leaders.
With plans to launch in early 2023, Impressia Bank
will be the sixth bank division of CNB Bank. This women-focused
commercial bank will begin within the existing geographic footprint
of each of CNB Bank’s five other divisions, then strategically
expand beyond those borders utilizing an online presence. Impressia
Bank’s online approach will be complemented by regional
relationship managers and support managers, as well as specialized
services such as SBA and grant advisory services, treasury
management, wealth management, and private banking.
“This is a perfect opportunity to deepen
relationships and support the already high, yet growing, number of
women-owned businesses,” said Wilcoxson. “A prioritization of
women-owned businesses would complement other divisional growth
activities and allow the Bank to provide even better banking
options for more businesses in our communities.”
Extending beyond traditional business banking
offerings, Impressia Bank clients will have access to resources
related to accelerating their business, developing appropriate
business strategies, and establishing a community of women who
support one another. The Bank will connect financial and other
identified resources to cultivate and support the business acumen
of women business owners.
“We’re looking to move beyond the scope of offering
traditional banking services. Our goal is to provide an entire
banking and financial support network for current and prospective
women leaders,” said Mr. Peduzzi. “We recognize that access to
capital remains the largest barrier to market entry and success for
female founders and women-owned businesses. Impressia Bank will
strive to propose solutions pertaining to credit access, financial
literacy, and business development to promote and encourage the
small business spirit and career development of women.”
CNB Bank recently launched a search for the
position of Division President for Impressia Bank.
Based on strong, traditional values, CNB Bank is
dedicated to being the premier financial services provider in the
area, focused on the changing needs of people and business in our
communities by providing the highest quality service.
About CNB Financial
Corporation
CNB Financial Corporation is a financial holding
company with consolidated assets of approximately $5.3 billion. CNB
Financial Corporation conducts business primarily through its
principal subsidiary, CNB Bank. CNB Bank is a full-service bank
engaging in a full range of banking activities and services,
including trust and wealth management services, for individual,
business, governmental, and institutional customers. CNB Bank
operations include a private banking division, three loan
production offices, one drive-up office, one mobile office and 47
full-service offices in Pennsylvania, Ohio, New York and Virginia.
CNB Bank’s divisions include ERIEBANK, based in Erie, Pennsylvania,
with offices in Northwest Pennsylvania and Northeast Ohio; FCBank,
based in Worthington, Ohio, with offices in Central Ohio;
BankOnBuffalo, based in Buffalo, New York, with offices in Western
New York; and Ridge View Bank, with loan production offices in the
Southwest Virginia region. CNB Bank is headquartered in Clearfield,
Pennsylvania, with offices in Central and North Central
Pennsylvania. Additional information about CNB Financial
Corporation may be found at www.CNBBank.bank.
Forward-Looking Statements
This press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, with respect to CNB’s financial condition,
liquidity, results of operations, future performance and business.
These forward-looking statements are intended to be covered by the
safe harbor for “forward-looking statements” provided by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are those that are not historical facts. Forward-looking
statements include statements with respect to beliefs, plans,
objectives, goals, expectations, anticipations, estimates and
intentions that are subject to significant risks and uncertainties
and are subject to change based on various factors (some of which
are beyond CNB’s control). Forward-looking statements often include
the words “believes,” “expects,” “anticipates,” “estimates,”
“forecasts,” “intends,” “plans,” “targets,” “potentially,”
“probably,” “projects,” “outlook” or similar expressions or future
conditional verbs such as “may,” “will,” “should,” “would” and
“could.” CNB’s actual results may differ materially from those
contemplated by the forward-looking statements, which are neither
statements of historical fact nor guarantees or assurances of
future performance. Such known and unknown risks, uncertainties and
other factors that could cause the actual results to differ
materially from the statements, include, but are not limited to,
(i) adverse changes or conditions in capital and financial markets;
(ii) changes in interest rates; (iii) the duration and scope of the
COVID-19 pandemic and the local, national and global impact of
COVID-19; (iv) actions governments, businesses and individuals take
in response to the pandemic; (v) the speed and effectiveness of
vaccine and treatment developments and deployment; (vi) variations
of COVID-19, such as the Delta and Omicron variants, and the
response thereto, (vii) the pace of recovery when the COVID-19
pandemic subsides; (vii) changes in general business, industry or
economic conditions or competition; (ix) changes in any applicable
law, rule, regulation, policy, guideline or practice governing or
affecting financial holding companies and their subsidiaries or
with respect to tax or accounting principles or otherwise; (x)
higher than expected costs or other difficulties related to
integration of combined or merged businesses; (xi) the effects of
business combinations and other acquisition transactions, including
the inability to realize our loan and investment portfolios; (xii)
changes in the quality or composition of our loan and investment
portfolios; (xiii) adequacy of loan loss reserves; (xiv) increased
competition; (xv) loss of certain key officers; (xvi) deposit
attrition; (xvii) rapidly changing technology; (xviii)
unanticipated regulatory or judicial proceedings and liabilities
and other costs; (xix) changes in the cost of funds, demand for
loan products or demand for financial services; and (xx) other
economic, competitive, governmental or technological factors
affecting our operations, markets, products, services and prices.
Such developments could have an adverse impact on CNB's financial
position and results of operations. For more information about
factors that could cause actual results to differ from those
discussed in the forward-looking statements, please refer to the
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of and the
forward-looking statement disclaimers in CNB’s annual and quarterly
reports filed with the Securities and Exchange Commission.
The forward-looking statements are based upon
management’s beliefs and assumptions and are made as of the date of
this press release. CNB undertakes no obligation to publicly update
or revise any forward-looking statements included in this press
release or to update the reasons why actual results could differ
from those contained in such statements, whether as a result of new
information, future events or otherwise, except to the extent
required by law. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed in this press
release might not occur and you should not put undue reliance on
any forward-looking statements.
Contact: Emily Fisher
Community Outreach and Public Relations Officer
Emily.Fisher@CNBBank.bank
Mobile: 614-312-6868
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