Message From The President - July 2020Posted on 6/29/2020 3:58:28 PM
As you read this Executive Newsletter you will notice a theme - COVID-19. It has consumed us and forced us to change the way we go about our daily lives and run our businesses. Social distancing, masks, sanitation, and personal safety have become a new normal for Citizens National Bank and many of our business clients. The question remains, how long will these new preventative health measures last? For many businesses, this may be the new normal.
Paycheck Protection Program UpdatePosted on 6/29/2020 3:57:50 PM
If you took advantage of the Paycheck Protection Program (PPP) through the Small Business Administration (SBA), you're probably wondering at this point about the forgiveness process. There have already been two versions released of the original loan forgiveness application, and recently they introduced a separate EZ application form which requires less calculation and documentation for borrowers.
Alternative Loan Opportunities for COVID-19 Relief for Business OwnersPosted on 6/29/2020 3:56:52 PM
As businesses continue to deal with the financial implications of COVID-19, there are still lending options to aid them. The Small Business Administration (SBA) recently re-opened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.
Sisters Bridal in Van WertPosted on 6/29/2020 3:51:34 PM
Jenna Dailey realized her dream and is now helping future brides make their dreams come true when visiting her store, Sisters Bridal Boutique in Van Wert.
Need Farm Financing? Contact a CNB Lender Today!Posted on 2/24/2020 2:51:44 PM
Citizens National Bank is one of the largest ag lenders in the state of Ohio.
The Projected Costs of Production and an Ag Tax UpdatePosted on 2/24/2020 2:41:53 PM
According to Barry Ward, Leader, Production Business Management for OSU Extension programs, farm production costs for Ohio should remain about level or even a little below 2019.
How is the Trade War with China Affecting the US?Posted on 2/24/2020 2:26:27 PM
"There's a broad-based slowdown of the global economy attributed to lower industrial production, a decrease in international trade and of course, the trade war," states Dr. Ian Sheldon of The Ohio State University Department of Agricultural, Environmental and Development Economics.
Ag Outlook 2020Posted on 2/24/2020 1:57:34 PM
"2019 was a unique year," states Jason Williamson of Williamson Insurance. "It was a record-breaking year for prevent plant, while still providing some good yields in those fields that did get planted."
Let CNB Handle Your Payroll for You!Posted on 2/24/2020 12:57:12 PM
One of the biggest stresses we hear from our business customers is the time it takes to manage their employees' payroll and their concerns about making sure taxes are paid correctly and on time. In fact, according to the IRS, 40% of medium and small-sized businesses are fined for failing to deposit withholdings, miscalculating taxes or submitting incorrect filings annually.
Be Positively Sure You're Doing All You Can to Prevent FraudPosted on 2/24/2020 12:42:03 PM
While Check Positive Pay is something Citizens National Bank has offered for a few years now, customers who make a lot of electronic payments were also concerned about the potential for fraud. Enter ACH Positive Pay.
Outlook 2020Posted on 2/24/2020 12:30:57 PM
Economically speaking 2019 was a remarkable year, with almost all indexes showing a double digit return. Even the bond market did better than expected due to the Fed's rate cuts. So as we turn our focus to 2020, many of us are wondering if the strength of the economy can be sustained.
Message From The President - March 2020Posted on 2/24/2020 12:20:11 PM
At the end of 2019, some economic pundits were forecasting a recession as early as this year, but at this point that seems like a stretch as the U.S. economy continues to fire on all cylinders.
Making Banking EZPosted on 10/21/2019 1:51:18 PM
For more than 25 years, the Henson family has relied on CNB's services for various business endeavors.
Getting Started with Facebook AdsPosted on 10/21/2019 1:50:43 PM
As a small business, one of the most inexpensive ways you can market to your customers and potential customers is through Facebook Ads. According to a survey by Kleiner Perkins, 78% of American consumers say they've discovered products on Facebook and 58% of consumers say that social media influences their shopping.
Message From The President - October 2019Posted on 10/21/2019 1:48:25 PM
So far, 2019 has been a year of challenges. Local and national businesses have been challenged to adapt to a tight labor market, cybersecurity threats, the impact of tariffs and many other obstacles.
Where is 2019 taking us?Posted on 10/21/2019 1:47:45 PM
As we move into the last quarter of 2019, Debbie Boisselle, VP Investments for Citizens Wealth Management Group, presented her take on where the economy currently sits and items investors should consider as they gear up for year-end.
Tax Changes - How Will They Affect You?Posted on 1/9/2019 11:24:31 AM
The Tax Cuts and Jobs Act that was passed this past year represents the biggest change to tax code since 1986, and the second biggest change since 1913. While the goal was to simplify taxes for the majority, there are several changes that may affect your personal and business finances beginning in 2019.
Duncan McGuffie, Prudential's Divisional Vice President, presented a workshop that outlined the tax changes and provided tips for looking at your portfolio through a tax efficiency lens to some of Citizens National Bank's customers.
Message From The President - January 2019Posted on 1/9/2019 11:13:23 AM
As we move into 2019, we are proud that we recorded yet another record year of profitability and growth while navigating a negative interest rate environment and increased competition. With the new tax laws becoming effective last year we saw increased competition from both credit union lenders and non-banks, requiring us to be more efficient. Our customers benefited from higher deposit rates and lower borrowing costs.
Economic Outlook 2019Posted on 1/9/2019 10:36:31 AM
As we begin a new year, it's important to examine the factors that are driving our economy and gain an understanding of the trends that may affect your business. Bob Morgan, economist with Austin Associates, shares his insight as to where we're headed in 2019.
Direct Deposit - Even If Your Employees Don't Have a Bank AccountPosted on 1/9/2019 9:24:31 AM
According to the National Federation of Independent Businesses (NFIB) there are many benefits to you as the employer to paying your employees via direct deposit including: cost savings, reduced risk of check fraud or stolen checks, greater control over payroll, timely payment of salary checks, even when employees are away, and reduced bookkeeping because of immediate payments into employee accounts (no delays in cashing). Direct deposit is easy to set up through Citizens National Bank's Online for Business product and makes paying your employees much simpler from an operations standpoint.
Mid-Year OutlookPosted on 9/13/2018 11:55:06 AM
As a financial advisor, Debbie Boisselle, VP Investments with Citizens National Bank, keeps a close eye on market trends and monitors the economic forecast closely. She recently shared her Mid-Year Outlook presentation with those interested in learning more about the current state of the economy and how she sees this year ending as people begin to plan for 2019.
Bonus Points Now and More Bonus Points Later with a New CNB Visa Credit Card!Posted on 9/13/2018 11:26:02 AM
With a Visa credit card from Citizens National Bank not only do you get a competitive interest rate, but also a robust points-based rewards program which allows you to purchase electronics, apparel, travel, concert tickets and even gift cards.
Message From The President - September 2018Posted on 9/13/2018 10:19:27 AM
This is the time of year when many businesses reflect on their purpose as they formulate a strategy for the upcoming year. Realizing where your strengths lie make it easier to know where your organization is headed and where you'll be successful.
CNB Introduces Payroll ServicesPosted on 9/13/2018 10:13:45 AM
If you're tired of the hassle of processing payroll every week for your employees and stressed out about staying on top of all the tax rules, consider letting Citizens National Bank do your payroll for you.
Do You Accept Credit Card Payments? Signature No Longer Required for EMV Enabled MerchantsPosted on 9/13/2018 9:52:10 AM
Visa is always looking to improve the point of sale experience for merchants and cardholders, by removing friction and other barriers to adoption or continued expansion of electronic payments.
Message From The President - April 2018Posted on 4/19/2018 10:37:58 AM
Citizens National bank ended 2017 on a high note with strong loan growth and record-breaking net income. As we push forward into 2018, this year again promises to be a year of growth for our bank.
On the Go? Get CNB's Business Mobile App!Posted on 4/19/2018 10:23:11 AM
If you haven't downloaded our business mobile app yet, now's the time. We've recently made some updates that make it even easier to bank on the go through your phone.
Economic Outlook 2018Posted on 4/19/2018 10:03:23 AM
As we end the first quarter of 2018, the year started out strong with huge gains in the stock market. Unfortunately, we've also had a few dips to date and it's this kind of volatility that Debbie Boisselle, VP Investments for Citizens National Bank, expects us to see throughout this year.
The Farm BillPosted on 4/18/2018 3:37:10 PM
Fact: 97% of US farms are still family-owned and 88% of those make less than $350,000 in gross cash income. What the government chooses to roll into a new Farm Bill will impact many Americans whose livelihood depends on agriculture. The current Farm Bill is set to expire in September of this year.
The 2018 Crop SeasonPosted on 4/17/2018 11:26:56 AM
Ask any farmer how their crops are doing and 90% of their response will probably depend on that day's weather - "It's too hot, it's too wet, it's too dry, etc..." While it's nearly impossible to predict hour to hour what the weather might do, there are trends that meteorologists study that can predict weather patterns and predictions for outcomes over a period of time.
Message From The President - August 2017Posted on 8/29/2017 2:51:30 PM
At Citizens we are large enough to offer all of the services our customers expect while being small enough to be able to assign responsibility to individual employees.
Two Choices for Depositing ChecksPosted on 8/25/2017 9:36:43 AM
Whether you receive one check every couple months or 100 checks every week, we have a solution for you that doesn't require you coming to the bank!
The EconomyPosted on 8/24/2017 4:09:11 PM
As we pass the halfway mark for 2017, the U.S. economy appears to be clipping along at a steady pace. Unemployment is under 5% and GDP is projected to hit 2.5% by year-end. Debbie Boisselle, VP of Investments for Citizens Wealth Management Group recently offered her take on the rest of the year and what she feels may be good areas to invest and things to take into consideration as you begin preparing for 2018.
What to Expect With The US Economy in 2017?Posted on 7/19/2017 4:45:44 PM
"We've seen more growth in the last 6 quarters than the last 4-5 years," stated Robert Morgan, an economist with Austin Associates, when he recently spoke to several of Citizens National Bank's business customers about the economic outlook for 2017. That statement speaks volumes about the direction Morgan feels our country is taking in regards to economic activity and the opportunity for businesses to expand over the next year..
Ag Outlook 2017Posted on 7/19/2017 4:41:46 PM
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.
Message From The PresidentPosted on 7/19/2017 4:31:36 PM
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.
Tax-Related Identity TheftPosted on 7/19/2017 4:24:33 PM
Tax-related identity theft occurs when an identity thief has used your social security number to get a tax refund or a job. Unfortunately, it may be several months later that you realize it has happened when you are notified by the IRS that you were paid by an employer you don't know or that more than one tax return was filed using your social security number.
Mobile BankingPosted on 7/19/2017 4:19:13 PM
If you are an Online for Business customer you're automatically enrolled in our easy-to-use mobile app. Simply download it from the App Store or Google Play and log in with the same credentials and token you currently use for online banking. The App is free.