Archive | Uncategorized RSS for this section

You Heard It Here First – New CNB Website!

NewWebsite_Header
We’re excited to announce that after months of hard work, the newly redesigned Citizens National Bank website is up and running! We have been working on a complete overhaul to make our site easier to navigate, more user friendly and compatible across all electronic devices. Be sure to check out the new website at www.cnbohio.com

Lima Citizens National Bank to Celebrate Customer Appreciation Day

Lima_CustomerAppDay

The Lima office of Citizens National Bank invites the public to join us for Customer Appreciation Day, which will be held on July 28, 2016 at its office located at 201 N. Main Street. From 11 am – 1 pm customers will be served free pulled pork or chicken sandwiches, macaroni & cheese, chips, and cookies as a thank you to its customers. Attendees may also register to win door prizes.

“We truly appreciate the longstanding relationships we hold with many of our customers and we use this day as a celebration of the success we’ve had in the Lima market,” states Lima City President, Ken Dysert. Beginning Monday, July 24 and running through August 4, the office will also be offering a special rate on a 12 month CD. See a customer service representative for details.

The Lima office is a full service financial center offering deposit accounts, mortgage and commercial lending as well as investments through Citizens Wealth Management Group. Visit us on the web at cnbohio.com to learn more.

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

Crop Insurance Update

A farmer holds seed corn in his calloused hands (sepia tint added).Here are a few crop insurance updates to note for 2017. Information provided by Williamson Insurance Agency. Learn more at www.cropcoverage.com.

Prevent Plant – Crop insurance will now pay you 55% of your Revenue Guarantee (instead of 60%) if you qualify for a corn prevent plant payment. Popcorn and soybeans remain at 60%.

Replant – The policy now states that you must try to replant the first planted crop through the late planting period. Previously you could replant a different crop prior to the late planting period and still have coverage. The late period for corn now runs through June 30 so you must replant corn through that date if that was your original crop.

Entity Changes – Any entity name changes (LLC, DBA, etc.) had to have been filed with the Farm Services Agency prior to June 1, 2016 to be eligible for premium support on their 2017 crop insurance policy.

It’s important to keep good separate records for all farms in order to maximize potential payments for actual production. Otherwise, an average of all your farms may be used when figuring payments and only 75% of that will be figured as your farm production average.

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

 

Ag Outlook 2017

Bryce Knorr

Bryce Knorr, Farm Futures Magazine

Yields Projected Up but Production Costs Also Rising

Bryce Knorr, senior analyst with Farm Futures Magazine, recently presented at an event Citizens National Bank co-hosted with Williamson Insurance Agency. Knorr pointed out 2017 is the first year since 1983 that farmers plan to plant more soybeans than corn and pointed to increased production costs as the reason for lower profit margins than the 1980’s. Expected acreage of corn planted is projected to be down 3.7% while soybeans are projected to be up 8.5%. According to Knorr the USDA estimates yields for corn will be on average 174.6 bushels/acre and bean yields will be 15% higher than 2016 at 52.1 bushels/acre.

He predicts net farm income will be down again in 2017 and noted that the debt to asset ratio is trending upward – “although nowhere near the level of the 1980’s,” he assures. He feels rising interest rates may dampen land prices, although he was optimistic that there’s interest by money managers and hedge funds in buying more ag contracts. Average cash rent in Ohio is $150 per acre, which is flat from 2015-2016, which also plays into the cost of land prices not increasing.

Knorr’s advice to farmers was to remain cautious. He notes many farmers have purchased land or new equipment over the past few years when prices were at all-time highs. The difference he notes from the 1980’s crisis however was that most of them used excess cash to make those purchases rather than leveraging everything through loans. “This puts current farms in much better positions than in the past,” he notes.

In addition to analyzing and writing about the commodity markets, Knorr is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports.

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

 

Recipe – Easy, Elegant Peach Cobbler

peach-cobblerYields 4-8 servings.

1 stick butter or margarine
1 cup white sugar
4 cups peaches, washed, pitted, peeled and sliced
1 cup self-rising flour
1 cup whole milk

Preheat oven to 375 degrees. Put the butter in a 9×6 baking dish and place in oven until melted. In a separate bowl, stir together flour and sugar. Add the milk all at once and stir to blend. Spread the melted butter evenly in the bottom of the baking dish. Pour half of the batter into the baking dish. Arrange prepared peaches on top of the batter. Add the remaining batter, spreading evenly over the peaches. Bake for 45 minutes or until lightly browned.

Note from the cook: This cobbler freezes well. Bake it in aluminum pie tins (the type with plastic lids), cover and wrap in aluminum foil. When ready to serve, remove the lid, thaw slightly and heat in the oven.

Recipe was submitted by Shelley K. from our “Cooking It Up with CNB” recipe contest.

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