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Date
Nov 13, 2019
A Tax Tune-Up for Your Non-Retirement Account
Retirement accounts such as an IRA, a 401(k), a 403(b) or a 457 plan are a tax-efficient group of investment vehicles, in as much as the taxation of all income and capital gains generated by these accounts is deferred until funds are actually withdrawn. At that point, and provided the individual is old enough to make withdrawals without penalty (generally after age 59 and a half), all distributions are taxed at the individual’s ordinary income tax rate. Income paid and capital gains realized in a non-retirement account, however, are taxed in the year the income is received, or the year in which the gains are realized. In light of these very different tax treatments, there are ways that investors, particularly those in higher marginal tax brackets, can minimize their year-end tax liability outside of their more traditional retirement accounts.
Nov 13, 2019
Nov 06, 2019
The Salvation Army and CNB Kick-Off Red Kettle Season
The Salvation Army of Canandaigua is once again partnering with Canandaigua National Bank & Trust (CNB) for its annual Red Kettle Christmas fund raising campaign and bell ringing, which begins Friday, November 29th.
Nov 06, 2019
Oct 31, 2019
CNB Partners with Hillside Special Santas
Hillside Family of Agencies and Canandaigua National Bank & Trust (CNB) are teaming up again to support the Hillside Special Santa holiday giving program.Hillside Special Santa benefits thousands of youth and families served by Hillside Family of Agencies throughout western
Oct 31, 2019
Oct 31, 2019
CNB Announces Management for Upcoming Brockport Community Office
Canandaigua National Bank & Trust (CNB) has announced plans to open its 24th community branch office in Brockport, NY. The new office will be located near the intersection of Routes 19 & 31, in the Wegmans Plaza. This full service office will offer sit-down tellers and a complimentary coffee station stocked with local coffee company products. Michelle Hill, Assistant Vice President, former Manager of the Mendon Community Office, and Brockport resident, is assuming the role of Community Office Manager at the new location in Brockport.
Oct 31, 2019
Oct 24, 2019
Environmental Impact of the 2019 Fall Community Shred Days
Canandaigua National Bank & Trust (CNB) hosted a series of three (3) Community Shred Days at their Irondequoit, Brighton, and Manchester Shortsville Offices.CNB partnered with Eco Green Park, a Rochester based company, to securely collect, shred, and recycle all documents
Oct 24, 2019
Oct 21, 2019
CNB selected as 2019 Best of the Finger Lakes
Canandaigua National Bank and Trust (CNB) has been named 2019 Best of the Finger Lakes by readers of the Messenger Post Newspapers. CNB was recognized in two (2) categories Services, Bank I Credit Union as well as Wealth Management.
Oct 21, 2019
Oct 16, 2019
Quantifying the Need for a Business Line of Credit
Whether in good economic times or in bad, most businesses have the need for a short-term source of capital, particularly if they’re extending credit to their customers (i.e. giving them time to pay) or manufacturing a tangible product. This capital often comes in the form of a business line of credit, whereby a business can borrow money to purchase raw material inventory and carry other expenses associated with the production and sale of a finished good, only to pay it back a short time later, once a sale is made and the proceeds of the sale are actually collected. In the business vernacular, this is referred to as a business’s cash conversion cycle or, simply, how long it takes to convert one dollar invested in the business today into one dollar of cash revenue collected at some point in the future.
Oct 16, 2019
Oct 01, 2019
CNB Recognized as a MVP Workplace Well-Being Award Winner
Canandaigua National Bank & Trust (CNB) has been selected as a Gold Level Award winner by MVP Health Care for its inaugural class of honorees. The Workplace Well-Being Awards recognize companies and organizations that have demonstrated a strong commitment to improving the health and well-being of their employees through workplace wellness programs.
Oct 01, 2019
Sep 25, 2019
Rochester Business Journal Announces 2019 Forty Under 40 Honorees
Rochester Business Journal has selected Vince Yacuzzo, CPA, Executive Vice President and Chief Financial Officer, Canandaigua National Bank & Trust (CNB), as a 2019 Forty Under 40 honoree.
Sep 25, 2019
Sep 18, 2019
Ask the Experts September 28
The annual Medicare open enrollment is fast approaching. Join Denise Kelly Dohse from CNB Wealth Management and Jane Ahrens, from Ahrens Benefits Company, to learn about the choices you may be facing. Listen to Ask the Experts, Saturday,
Sep 18, 2019
Sep 05, 2019
Canandaigua National Bank & Trust Announces 2018 Arthur S. Hamlin Recipient
Canandaigua National Corporation (CNC) awards Diana Wright with the Employee of the Year Award, known to those at CNC as the Arthur S. Hamlin (ASH) Award, named for Canandaigua National Bank & Trust’s past President, CEO, and Chairman. This honor is awarded each year in June at CNC’s annual Employee Celebration event.
Sep 05, 2019
Aug 23, 2019
Security Alert
CNB has been made aware of a nationwide phone scam targeting bank customers. Please make sure you are aware of who you are talking to. The scammers are disguising themselves as CNB employees and are asking for your
Aug 23, 2019
Aug 05, 2019
A Peculiar Time for Additional Stimulus
In hindsight, it seems that last December might have been a reasonable time to consider additional economic stimulus in the form of a Federal Reserve Bank interest rate cut. By Christmas of 2018, the U.S. government was in the midst of a 35-day shutdown that lasted from December 22nd to January 25th. Our country had imposed tariffs of between 10 and 25% on $250 billion of Chinese imports, and China had responded by imposing retaliatory tariffs on $50 billion of U.S. exports to China. Fears over additional tariffs, slowing global growth, slowing corporate profits in the U.S. and a Federal Reserve Bank bent on raising interest rates three times in 2019 (for a total of 12 rate hikes since 2015) and two additional times in 2020 had spooked investors. As a result, and on an intra-day basis, the Dow Jones Industrial average fell almost 17.5% from November 8th to December 26th and approximately 19.5% over the entire fourth quarter of 2018. Market pullbacks of 20% or more have typically been associated with recession but, as we know, the Fed chose not to take any action at that time and the current U.S. expansion has yet to end in recession.
Aug 05, 2019
Jul 17, 2019
CNB Plans for 2020 Opening of Brockport Community Office
Canandaigua National Bank & Trust (CNB) has announced plans to open its 25th community branch office in Brockport, NY. The new office will be located near the intersection of Routes 19 & 31, in the Wegmans Plaza.
Jul 17, 2019
Jun 13, 2019
Economic Column by Steve Rossi June 10
The idea of environmental, social and governance-friendly (ESG) investing has been around for quite a while now; long enough, in fact, that many financial institutions (including ours) are now offering customized ESG portfolios to their clients. Our standard ESG growth portfolio boasts internal fund expenses of only 0.44%, for an account with 78% stock and 22% bonds/cash, and this particular portfolio has only a 3.71% allocation to energy. But what do you do when a client wants a portfolio with absolutely ZERO energy exposure, because energy is synonymous with fossil fuels and fossil fuels are destroying the planet? You find a solution that meets the client’s needs!
Jun 13, 2019
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