CNB Bank Shares, Inc.
Our company’s roots go back to 1854, the year a charter was approved for the bank in Carrollton which became Cornerstone Bank & Trust, N.A. Thirty-four years later a charter was awarded to the founders of Carlinville National Bank (CNB), which operated as a stand-alone institution until its shareholders formed a holding company originally named Carlinville National Bank Shares, Inc. (CNBS) in 1984. At that time, Charles H. Ashworth was president and CEO of the bank and was instrumental in promoting the holding company. Previously, the institution operated simply under the bank's charter. One limitation placed upon that form of organization is the inability for the bank to purchase and hold its own stock. Under a holding company structure, the parent company can create a market for its own shares, which it has done from time to time, thus enhancing liquidity for its shareholders.
James T. Ashworth, son of Charles, and great grandson of CNB’s principal founder (A.L. Hoblit), was named president of the holding company in 1989, and remains in that capacity today. The company became more proactive with its flexible structure through purchase of a branch in Hillsboro in 1996. The following year, CNBS purchased Palmer Bank in Taylorville, and in 1998 Citizens State Bank of Shipman and Brighton was acquired. In 2003, CNBS acquired Cornerstone Bank & Trust, N.A. which had branches in Carrollton, Alton, and Jerseyville. In 2009, Carlinville National Bank assumed the three offices of the former Corn Belt Bank in Pittsfield, Jacksonville, and Clayton, MO. Carlinville National Bank also opened a new location in Oak Forest in 2010. The four bank charters were consolidated into one in 2011, named CNB Bank & Trust, N.A. Now sporting fourteen full service locations in a ten county area, including the newest two established in Palos Heights in 2014, and one in Tinley Park in 2018, the company has evolved with the advent of expanded financial products and services, as well as new technologies. Our consolidation preserves CNB Bank & Trust, N.A. as the oldest continuously active bank charter in Illinois. The holding company was renamed CNB Bank Shares, Inc. in 2013.
On January 18, 2018, CNBS announced the purchase of Jacksonville Bancorp, Inc. and its subsidiary Jacksonville Savings Bank, with locations in four communities. The acquisition closed in June of 2018, with consolidation into CNB occurring in February, 2019. This expanded the bank to 19 locations.
Our company retained directors from the boards of all five of its original banks, ensuring that decisions are made by people who know and love the communities in which they reside. Yet, certain "economies of scale" are realized that are good for customers and shareholders alike. We trust that you will agree that the best bank is a Real Community Bank, and we encourage you to explore our Internet site regularly for enhanced services and community events.
On September 11, 2018, CNB Bank Shares, Inc. joined the OTCQX® Best Market and is now traded under the symbol “CNBN”. Current financial disclosures and Real-Time Level 2 quotes can be found at www.otcmarkets.com, or by clicking on the link below.
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