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Does Your Child Need a Checking Account?

student-go-anywhere-checkingOpen a Student Checking or Go Anywhere Checking by the end of June for a Chance to Win!

Whether your child just has extra birthday money you’d like to save or they’re heading to college in the fall, it’s a smart move to open an account specifically for them that they can begin to learn money management skills. For those ages 14-17, we offer a Student Checking. This free account requires an adult co-signer and allows access to the account through online or mobile banking. A lower limit debit card is provided as well for everyday purchases and ATM access. If your child is 18 or older, we recommend the Go Anywhere Checking Account, which offers FREE unlimited ATM access so they don’t have to worry about ATM fees when trying to access their account when away from home. The minimum balance requirement is waived for those ages 18-23 and the account comes with online and mobile banking, as well as a Visa debit card and the ability to apply for a Visa credit card which is helpful for larger purchases.

Now through the end of June anyone who opens a Student or Go Anywhere account will be automatically entered to win one of two $50 iTunes or Google Play gift cards. Stop by any CNB office today to get started!

– See more at: www.cnbohio.com/AboutUs/CNBNews/family-financial-news/default.aspx

Have you ever wondered: “Am I really saving enough for retirement?”

Do you wonder how your retirement savings compare with others your age?

The average person in their twenties has around $16,000 in retirement savings.
The average person in their thirties has saved about $45,000.
Americans in their forties have median retirement savings of around $63,000.
Americans in their fifties have median retirement savings of about $117,000.
Americans in their sixties have median retirement savings of approximately $172,000.

Senior couple relaxing outsideYou may have saved much more – but have you really saved enough?

You may need to save more for retirement than you realize. It is very common for people to underestimate their retirement savings and retirement income needs. Whether you are 5 years or 35 years away from retiring, you need to be confident that you are doing the right things for your financial future – saving enough, investing what you save in a way that is appropriate for you, and managing risks to your savings.

Now is a great time to check and see if you are on track toward your retirement savings goal. Ask about setting an appointment with one of our Citizens Wealth Management financial advisors at any of our CNB offices so that we may quickly review how you are doing so far. If anything about your retirement saving or investing strategy needs adjusting, it is better to plan those adjustments now than to regret not making them later. Call 419-358-8060 ext. 153 or email cwmg@lpl.com to make an appointment.

Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Citizens National Bank of Bluffton deposits and are not FDIC insured. These products are not obligations of Citizens National Bank of Bluffton and are not endorsed, recommended or guaranteed by Citizens National Bank of Bluffton or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

– See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx

Ask The Lender – Bridge Loans

Brent Kohn

Brent Kohn VP Loan Originator NMLS #554361

Spring is upon us and so is the search for that new home.

  • Are you tired of finding the perfect home for you and your family only to see it slip away at the last second because you need to sell your current home first?
  • Perhaps you are just dreaming about upgrading or even downsizing your current home but don’t think it is possible to buy a new home without selling your current home first?

If so, I want to let you know that your dreams can come true here at Citizens National Bank by taking advantage of a bridge loan. A bridge loan is a temporary note taken out against the equity in your current home. You are able to convert your home’s equity into cash to use for the down payment and closing costs of the new home you are trying to purchase.

Typically the bridge loan is written for a short period of time, usually 10-12 months. It is designed to “bridge” the gap between buying your new home and selling your current home. Often times you are required to pay interest only on the bridge loan on a monthly basis. Once your existing home sells, the bridge loan is paid off and any remaining proceeds from the sale are distributed to you. You can even use the bridge loan to pay off your existing first mortgage loan to get rid of that higher monthly obligation. This would allow you to temporarily keep your monthly obligations as low as possible on your current home while taking out a traditional mortgage and principal and interest payments on the new home.

Factors to consider when looking into a bridge loan are:

  • Are you willing to take on the additional monthly obligation on both homes? Even though the payment is just interest only and is relatively small in comparison to a traditional loan, are you willing to make those payments on both homes?
  • Can you qualify to make both payments on both homes with your current income?
  • Do you have enough equity in your current home to take out a bridge loan? Typically lenders want to see that you have at least 20-25% equity left after you take out a bridge loan.
  • Are you willing to pay the costs of an appraisal, title search, recording fee, etc for a temporary bridge loan? How important is it to you to not lose out on the purchase of the new home?
  • How quickly are homes selling in your area? You don’t want to take out a temporary bridge loan and not have your home sell in 10 months. If this happens then you are faced with the additional cost of “renewing” your bridge loan for an additional term.

A bridge loan is a great product to use to help make your dreams come true, but it may not be for everybody. Consult with your Citizens National Bank loan officer to find out if a bridge loan is right for you.

CNB Online Banking is Now Better Than Ever!

Computer Screen showing Citizens National Bank Online BankingCNB Online Banking has a new look and feel. To check it out, simply log in with your current username and password. From the home screen you will immediately notice a simplified look, easier navigation and increased functionality. And depending upon what device you’re viewing the site on, whether mobile, tablet or desktop, everything will size accordingly to fit your screen. The new site is even touch-enabled for easier access with your phone or tablet.

Here’s a list of the improvements you’ll experience with the new CNB Online Banking:

  • Create custom nicknames, change the order of how you see your account and even hide accounts if you don’t wish to see them every time you log in.
  • View the last 10 transactions for each of your accounts right from the home screen. Click “more” to pull in older transactions to the list. View all your scheduled, pending and posted transactions in one list.
  • Initiate transfers between accounts from the home screen.
  • Bill Pay now opens within online banking, which will prevent online banking time-outs.
  • Updated log in – Enter username and password on the same page. The security challenge is on the next page. You’re now able to hide your username and security answers for extra security when accessing the site in public.

To see what the new CNB Online Banking looks like, check out our online demo. If you’re not currently enrolled in Online Banking, simply click the New User Signup link underneath the Online Banking Login button on our homepage, cnbohio.com.

– See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx

Message from the President

J. Michael Romey, President/CEO

J. Michael Romey, President/CEO

Year in Review

Despite a somewhat volatile political backdrop and continued slow economy, Citizens National Bank experienced an excellent year in 2016. We have continued to show consistent asset growth and increased earnings. While our net interest margin continued to be under pressure from low interest rates and a flattening yield curve, our focus on decreasing operating expenses and increased loan growth has once again produced a record year.

Our strategy of relationship banking combined with real-time digital delivery of services has shown profitable results and will remain our primary focus as a bank. Some of the new products we introduced to support that strategy in 2016 included adding an online credit card application to our website and the introduction of our new app for managing debit cards called CardValet. This free app allows our customers to turn their debit card on and off in seconds and monitor its use through alerts in order to safeguard against fraud. We also began offering Positive Pay, a product that allows business customers to review and approve all checks written prior to them being cashed. The program automatically reviews items such as check amount and payee and flags items it feels may need further review. This product has already saved some companies thousands of dollars in potential fraudulent check activity.

Looking ahead to 2017 we have several new initiatives in the works including improving our retail loan origination process and offering payroll processing as a service for small business customers. We will also be offering instant issue of debit cards and credit cards right from our branches. This will allow new accounts to walk out the door with an active debit card they can use that same day. It will also make it much easier to replace a lost or stolen card.

We’re excited to see what the new year holds in store for our bank and its customers. Thanks for banking with us!

– See more at: https://www.cnbohio.com/AboutUs/CNBNews/ExecutiveNewsletter/Default.aspx

Want to Know Your Balance in an Instant?

Instant BalanceInstant Balances Now Available through our Mobile App!

If you haven’t updated your CNB Mobile App recently you’re missing out on its newest feature, Instant Balances. This enhancement makes it possible for you to designate which accounts you’d like to to be able to view current balances of without even having to log in to the app. Setting it up is easy – update your app, log in, then click More in the bottom right corner. You’ll see a button for Instant Balances Settings on the left side. A list of all your accounts will show. Simply checkmark which accounts you’d like to include and Save. The next time you open your app, you’ll see a dollar sign in a circle in the upper right corner. Tap on that to view balances for the accounts you selected. You may choose up to 6 accounts to view in Instant Balance. View a demo to see how it works.

– See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx

Ask the Lender – Calculate the Costs

There are a lot of factors to consider when determining the costs of purchasing a home. Fortunately, our website, cnbohio.com, has a variety of mortgage calculators available for you to input different scenarios in order to understand what makes the most sense for you. These interactive calculators are easy to use and address many different questions you may have, such as “What’s the Maximum Mortgage I qualify For?”, “Should I Consider a 15 Year vs. a 30 Year Mortgage Term?” and “Should I Buy Points to Get a Smaller Monthly Payment?”. These calculators are a good starting point as you begin to look at your finances and work with your lender.

Here’s a list of all the Mortgage Calculators available on our site. Check them out:

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

-See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx