Over the past 18 months, we’ve seen a historic rise in interest rates while the Federal Reserve has worked to curb inflation from post-pandemic challenges. The rising cost of capital has impacted borrowers across our community with interest rates that haven’t been seen since the early 2000’s. One of the tools that CNB and banks across NYS have used to help our customers is the participation in the NYS Linked Deposit Program.

Cash flow is the movement of money in and out of a business, representing the operating activities of a company. Examples of cash flow include receiving payables from clients for goods or services rendered, paying creditors or suppliers, disbursing wages and salaries to employees, investing in new equipment or property, taking out a loan, and receiving dividends from investments or interest earnings. A good gauge of cash flow is reflected in your monthly bank statements. You want to make sure to have enough money coming in to meet your existing financial obligations, as well as planning for the future.

The experts of this show featured Michael O'Donnell, Vice President, Business Banking Officer and Chad Zimmerman, Business Banking Officer.

The new frontier of U. S. Manufacturing is here! Advanced Manufacturing uses innovative technologies and methods to improve a company’s ability to be competitive in the manufacturing sector. It does this by optimizing all aspects of the value chain, from concept to end-of-life considerations.

Business Email Compromise (BEC) happens when cybercriminals gain access to an employee’s legitimate business email through social engineering or computer intrusion. The criminal then impersonates the employee—often a senior executive or someone who can authorize payments—and instructs others to transfer

The experts of this show featured Paul Hohensee, Vice President, Business Banking Officer, and John Savino, Vice President, Business Banking Officer.

March 2, 2009 - You cannot turn on the television or read the newspaper today without hearing more news about banks tightening their credit standards during these challenging economic times. One can argue that Rochester has faired far better than other parts of

Are you considering expanding, renovating, or constructing a new building for your business? Or are you an investor looking to build apartments, offices, or retail space for investment purposes? If so, a commercial construction loan may be the right banking loan for you.

For richer, for poorer, for better, for worse. If you own a small business, these familiar wedding vows might signify more than promises to a spouse. They might describe your relationship with your business as well. And with good reason if your personal financial well-being is closely tied to how well your business is doing. A strong cash flow is good for business and good for you. If your company’s cash flow isn’t as healthy as you’d like it to be, here are some things to consider.

While high technology crimes make headlines, good old-fashioned checks are the largest vehicle for payment fraud according to Associates for Financial Professionals (AFP) Payment Fraud Survey (www.afponline.org).

You have found the perfect piece of equipment or vehicle for your company and now have a number of decisions to make. Do you pay cash or finance the asset? If you finance it, do you take out a loan or a lease? For how long? Do you obtain a fixed interest rate or a variable interest rate? Let’s breakdown some of the key questions when it comes to financing new equipment for your business.

Working in the community and for our community has positioned CNB well to be nimble and make quick decisions that benefit our clients not just before, but most importantly, throughout the pandemic. Our Relationship Managers provided personalized service, working with each client to understand how the pandemic has affected them and their goals for the future. The opportunity to help in a time of need is one way in which we demonstrate our commitment to the customers and communities we serve.

The experts of this show featured Terry Kelley, Vice President, Business Banking Officer, and John Savino, Vice President, Business Banking Officer.

What exactly is cash management? Simply put, it is the process of managing revenues and expenditures that flow into and out of any business. It takes many shapes and forms, for all different types and sizes of businesses.

In 2020 CNB successfully assisted over 4,100 local businesses secure funding through the Paycheck Protection Program (PPP). The Program strives to provide funding to primarily small businesses experiencing financial challenges as a result of the pandemic. CNB can assist with first and second draw applications, even if the initial PPP funding was from another financial institution. The deadline to submit PPP loan applications to CNB has been extended to May 31, 2021. All applications must then be verified by CNB and submitted to the SBA by June 30, 2021.