CNB Continues to Support Local Businesses with Targeted Impact Fund

CNB Bank & Trust, N.A. continues to assist small and local businesses throughout the COVID-19 pandemic. The Federal Home Loan Bank of Chicago (FHLB Chicago) has approved matching funds to CNB in response to its application for the Targeted Impact Fund.

FHLB Chicago Targeted Impact Fund provides members with grants to support relief efforts for populations hardest-hit by COVID-19 as well as to promote equity and opportunity for communities of color. The Targeted Impact Fund opened on Monday, August 17, with funding available through Wednesday, September 30.

Through their partnership with FHLB Chicago, CNB is providing $5,000 to select organizations to continue to meet the needs of populations hardest hit by the COVID-19 crisis in local branch areas. Shawn Davis, CNB President & CEO, commented, “We are committed to supporting our local community organizations especially during this time, so that they can to continue to provide much needed services for the populations that need extra assistance.”

The mission of the FHLB Chicago is to provide competitively priced funding to its member institutions, in support of community-based investment activities. Active in Illinois and Wisconsin, FHLB Chicago is one of the eleven Federal Home Loan Banks in the nation that was chartered by Congress to promote homeownership.

Established in 1854, CNB Bank & Trust, N.A. has experienced strong and steady growth over the course of many decades, bringing our customers thoughtfully designed personal banking services to full-service, leading-edge commercial banking solutions. With branches in 17 communities, spanning from Central Illinois to Chicago and St. Louis, Missouri, CNB continues to support the communities it serves, by offering innovative products, excellence in customer service and financial assistance to its communities. Recently, in response to the pandemic, CNB has offered a variety of different hardship solutions including SBA Paycheck Protection loans, payment relief on existing loans and other loan modifications to ease the burden of COVID-19.