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CNB Supporting Local Businesses During COVID-19 Pandemic

5/29/2020

ALTON, IL – May 6, 2020 . . . CNB Bank & Trust, N.A. has been helping small and local businesses during this unprecedented time. As part of the C.A.R.E.S. Act, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) allowing small businesses to apply for a special loan that helps keep their workforce employed during the COVID-19 crisis. To date, CNB has processed 836 loans totaling more than $75 million for small businesses within its communities.

In addition to helping local businesses with the PPP loan, each CNB Bank & Trust branch is helping the Bank’s communities in other meaningful ways.

Support Small Businesses and Nonprofit Organizations with COVID-19 Relief Grant Program

Funds have been allocated for the member and associate member institutions of the Federal Home Loan Bank of Chicago (FHLBC), to receive up to $20,000 in COVID-19 Relief Grants. CNB Bank & Trust applied for and received the $20,000 grant from FHLBC, and decided to match the $20,000 grant with $20,000 of its own money. In total, $40,000 will be donated to food shelters in the 17 branch communities the bank now serves, with each food shelter receiving at least $2,000.The grant offer, along with matching funds, emphasizes the consistent support that CNB offers to customers, local businesses and communities.

Tony Heitzig, a Regional President at CNB, commented: “CNB Bank & Trust is always happy to give back to the communities we serve.  We are fortunate to have the means available to help make a difference in the lives of those most in need during these uncertain times.”

CNB’s Regional President, Gary Graham, shared his experience regarding this unique opportunity: “CNB Bank & Trust is happy to partner with the Federal Home Loan bank of Chicago and give back to each of our communities by helping those hardest hit by the corona virus.”

The Bank is thrilled to be able to apply for and be awarded this grant, that will assist its communities during this most difficult time. Dan Walsh, Regional President of CNB’s Chicago area branches stated: “CNB Bank is proud to contribute to local food banks during these very trying times.”

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

The roots of CNB Bank & Trust, N.A. were firmly planted in 1854, and its dedication to customers, local businesses and communities has experienced strong and steady growth over the course of many decades. 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, the Bank has offered SBA assistance loans, skip-a-pay on existing loans, loan modifications and rate adjustments on loans.

CNB Bank & Trust has 19 locations to serve its customers: Alton; Brighton; Carlinville; Carrollton; Chapin; Clayton, MO; Hillsboro; Jacksonville (3); Jerseyville; Litchfield; Oak Forest; Palos Heights; Pittsfield; Shipman; Taylorville; Tinley Park; and Virden. In addition to a wide variety of traditional banking services, CNB also offers farm management, investment, and trust services. For more information about CNB and its unique community-centered approach to banking, visit www.cnbil.com.

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