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Market Month: November 2024

Stocks posted strong gains for November, which saw the S&P and the Dow have their best months of the year. The gains likely reflected investor optimism that a second Trump administration will favor businesses, with the hope that the President-elect will take a more moderate stance on trade tariffs. All 11 market sectors ended November higher, led by consumer discretionary and financials. Year to date, financials and information technology increased by more than 36.0%.

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Inherited IRA Rules That Can Surprise and Trap Heirs

Inherited IRAs are accompanied by a host of little-known rules that are traps for the unwary, and that’s before considering the end of the Stretch IRA and the creation of the 10-year rule that were enacted in the Setting Every Community Up for Retirement Enhancement Act in 2019 and the accompany regulations that were finalized in 2024.

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Market Month: October 2024

10/31/2024
Stocks closed lower in October as Wall Street couldn't maintain the momentum from September's strong showing after the Fed lowered interest rates. Equities began October on an upswing on the heels of a better-than-expected jobs report. In fact, during the first half of the month, the Dow and the S&P 500 reached record highs.

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CNB Gives Back $17,000 with 2024 Summer of Giving Campaign

10/31/2024
This year, we launched our Summer of Giving Campaign—a community-driven initiative designed to support local non-profit organizations that matter most to our customers. The campaign aimed to give back to our neighbors and strengthen the bonds that make each of our communities unique.

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How Investors Can Brace For Election Uncertainty by Forbes

After the 2020 election, a significant portion of the electorate questioned the legitimacy of results, leading to the January 6 attack on the Capitol. The peaceful transfer of power—a hallmark of American democracy—now seems less assured than in previous years, and the possibility of election-related unrest is real .

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How Financial Independence Transforms Women’s Lives by Forbes

Financial independence is a game-changer for women. It’s not just about having money - it’s about having the freedom, security, and power that come with financial control. When women achieve financial independence, they transform their lives, communities, and the generations that follow.

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Shawn Davis Elected to ICBA Federal Delegate Board, Advocates for Community Banks Nationwide

10/15/2024
The Independent Community Bankers of America (ICBA) today announced that Shawn Davis, Director of CNB Bank & Trust N.A. was re-elected to the ICBA Federal Delegate Board. ICBA is the nation’s voice for community banks. In addition to helping shape and advocate ICBA’s national policy positions and programs, Davis’s duties include engaging in grassroots activities in Illinois and serving as a liaison between independent community bankers and ICBA staff and leadership in Washington, D.C. he will also work to recruit new members to ICBA.

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6 Financial Matters To Discuss With Older Family Members by Forbes

Discussing money, health, and mortality with loved ones can be incredibly difficult. Despite the discomfort you may feel, these discussions are critical to build trust and ensure the wellbeing of all the generations in your family. These are the six financial matters you should be discussing with your older family members.

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In-Service Withdrawals from 401(k) Plans

You may be familiar with the rules for putting money into a 401(k) plan. But are you familiar with the rules for taking your money out? Federal law limits the withdrawal options that a 401(k) plan can offer. But a 401(k) plan may offer fewer withdrawal options than the law allows, and may even provide that you can't take any money out at all until you leave employment. However, many 401(k) plans are more flexible.

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Quarterly Market Review: July-September 2024

Wall Street got off to a good start to begin the third quarter of 2024 and continued to rally for much of the quarter. Investors spent the quarter watching inflation and economic data, trying to gauge whether the Federal Reserve might lower interest rates.

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Here's What The Interest Rate Cut Means For Retirees

If you’re retired or soon-to-be retired, how could the recent cut in interest rates by the Federal Reserve affect your finances? Unfortunately, there’s not a simple answer, because it depends on your financial circumstances, investments, and sources of retirement income. And if you’re like many retirees, there could be both positive and negative effects on your finances.

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Market Month: August 2024

Stocks closed mostly higher in August, buoyed by a strong close to the month. Favorable inflation data and economic reports helped drive stocks higher toward the end of the month as investors took heed of Federal Reserve Chair Jerome Powell's statement that it is approaching time to lower interest rates.

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Kids With Special Needs Deserve Benefits. A Trust Protects Them. By Barron's

When her mother wanted to leave Joel a $1 million inheritance, Bamburg made sure the gift wouldn’t compromise his Supplement Security Income and Medicaid benefits. The Jacksonville, Ark., financial advisor set up a trust that his sister, Elise, will manage for Joel after Bamburg dies; it is structured so that any remaining funds will stay in the family after Joel dies.

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Trust: A Financial Advisor's Most Important Asset By Investopedia

Investors increasingly seek investments with low costs and low fees. About 65% of advisors now recommend exchange-traded funds (ETFs) to their clients. But those clients still value high-quality advice on a range of issues related to investing and personal finance.

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Market Month: July 2024

Stocks closed mostly higher in July. Tech shares, including AI stocks, which had been a bellwether for much of the year, retreated in July, dragging the Nasdaq to its worst July performance since 2014.

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Market Volatility Can Upend Your Retirement Plans. How Do You Protect Yourself? By Investopedia

A recent survey from MetLife found that nearly 70% of defined contribution plan sponsors, who offer retirement plans such as 401(k)s, were concerned about participants’ (who were within 10 years or less from retirement) abilities to weather market volatility. 61% of sponsors were worried about participants’ who were already retired.

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Jack Tinberg Recognized as a Community Bank Leader and 40 Under 40 Recipient

06/07/2024
CNB Bank and Trust, N.A.’s Jack Tinberg, Commercial Loan Officer was recognized on Independent Community Bankers of America® (ICBA) sixth annual 40 Under 40 Community Bank Leaders for his dedication and attentiveness to providing exemplary customer service as a reliable source for commercial clients in the Oak Forest, IL community.

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As Americans live longer, many retirees struggle to care for elderly parents: ‘It makes childcare look inexpensive’ by Fortune

At a time when many have dreams of finally taking a long-awaited trip or dominating the pickleball court, a growing number of retirees are instead spending much of their time and money on caring for others—and risking their own financial security.

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Press Release: CNB Stockholders Hold Annual Meeting

05/15/2024
The stockholders of CNB Bank Shares, Inc. held their annual meeting on Tuesday, May 14th, at CNB’s corporate headquarters in Carlinville.  In addition to receiving a report on the past year’s performance, stockholders reelected the incumbent board of directors for the ensuing year.

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‘Pig Butchering’ Crypto Scams a Growing Concern by ICBA

A new form of investment scam has skyrocketed in recent years as criminal syndicates target consumers through online channels. Called “pig butchering,” this new scam is increasingly relevant, including among the consumers and communities that community banks serve.

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How Couples Are Thinking About Money and Retirement

When it comes to planning for retirement, couples generally agree on the big picture. It’s in the details, however, where differences often arise, says Nayan Ranchhod, Ameriprise Financial private wealth advisor and CEO of Silver Lining Wealth Advisors in Scottsdale, Ariz.

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6 Questions Married Women Should Answer About Retirement Income

Married women face a special retirement planning challenge that’s best addressed when they and their spouse transition into retirement. Here’s the problem: When one spouse passes away, the survivor’s retirement income usually drops much more than their living expenses do.

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How Inflation Impacts Your Financial Plan And What To Do About It

As of May 2024, the U.S. Bureau of Labor Statistics reported that inflation was 3.3%. This number is right in line with averages over the last 100 years. Assuming the trend continues, if your lifestyle expenses are $50,000 per year today, they will be closer to $130,000 in 30 years.

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2 Key Benefits Of Living Trusts by Forbes

With so many misconceptions around trusts, it's easy to understand the confusion about the benefits of a revocable living trust. A living trust (also called a revocable trust or revocable living trust) can be beneficial to a much broader group of Americans than most people expect.

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CNB Announces Promotion of Matt Cors to Chief Experience Officer

12/11/2023
As Chief Experience Officer, Cors will play a pivotal role in shaping and implementing a unified customer experience strategy across the Bank. His responsibilities include ensuring that the overall customer experience aligns seamlessly with the Bank’s strategic goals.

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CNB Bank & Trust appoints Andrew Tinberg as CEO, succeeds retiring Shawn Davis

07/21/2023
Shawn Davis, President and CEO of CNB Bank & Trust, N.A. headquartered in Carlinville, has announced that he will be retiring fourth quarter 2023. Andrew E. Tinberg, Chief Banking Officer, will assume the role of President & Chief Executive Officer. Davis will continue to serve on CNB’s Board of Directors.

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Market Week: July 8, 2024

The stock market fared quite nicely during the Fourth of July week. Each of the benchmark indexes listed here posted gains, with the Nasdaq and the S&P 500 reaching record highs a few times during the week. Only the small caps of the Russell 2000 slid lower. The June jobs report (see below) gave investors encouragement that the Fed may be inclined to cut interest rates as early as September. Information technology, consumer discretionary, and communication services outperformed among the market sectors, while energy and health care lagged.

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Estate Planning: An Introduction

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives.

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Market Week: July 1, 2024

Stocks closed generally higher for the week, with the Russell 2000, the Nasdaq, and the Global Dow posting gains, while the large caps of the Dow and the S&P 500 declined. Ten-year Treasury yields rose as bond prices fell. Crude oil prices gained about $1.00 per barrel.

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Scholarship Contest Award Given to Local Student

06/01/2023
CNB Bank & Trust. N.A. is very pleased to announce that Aidan Gorman has been named the first place winner for CBAI Group 1; the Bank sponsored Gorman for the contest. He has been awarded a one‐time $1,000 award to be used for higher education beginning next fall.

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How to Keep Your Valuables Safe When You’re Away

12/28/2022
Traveling can be a wonderful experience, but it can also lead to unexpected surprises. Recently, a group of travelers returning from their trips were shocked to discover that their cars had been broken into while in long-term parking at the airport.

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Vice President and Computer Operations Supervisor Lisa Wolf Announces Retirement

10/27/2022
After more than four decades of dedicated service, Lisa Wolf is retiring from her position as Vice President and Computer Operations Supervisor at CNB Bank & Trust. Lisa has been a key member of our team since she joined the company in 1981, and her hard work and dedication have been instrumental in our success.

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Shawn Davis Announced as CBAI’s Outstanding Member of the Year

10/10/2022
The Community Bankers Association of Illinois (CBAI) has announced that Shawn Davis, President and CEO of CNB Bank & Trust, N.A., has been named the organization's 2022 Outstanding Member of the Year. This prestigious award is given annually to a member who has demonstrated an outstanding commitment to advancing the principles of community banking at an extraordinary level.

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CBAI Scholarship Awarded to Local Student

05/20/2022
CNB Bank & Trust. N.A. is very pleased to announce that Abbie Hasty has been named the first place winner for Group 9; the Bank sponsored Hasty for the contest. She has been awarded a one‐time $1,000 award to be used for higher education beginning next fall.

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CNB Goes Casual for a Cause

05/09/2022
CNB Bank & Trust employees participated in a “Casual for a Cause” jeans day on Thursday, April 28th. The fundraiser was organized by Vice President Computer Operations Supervisor, Lisa Wolf whose parents, Louis & Ruth, both passed away from Alzheimer’s in 2016. April 28th would have been Ruth’s 95th birthday.

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CNB Announces New Positions for Board of Directors, Senior Staff in Jacksonville

04/05/2022
CNB Bank Shares, Inc. is pleased to announce the election of Kyle Schumacher to the Bank’s board of directors. Additionally, CNB announced the promotion of Matt Cors to Senior Consumer Loan Operations Officer, effective immediately. Also announced as a new hire for CNB, is Jodee Nell, who will serve as Market President for CNB’s Jacksonville and Chapin branches.

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Community Banker Appointed to the Community BancService Corporation Board for the Community Bankers Association of Illinois

01/18/2022
Andrew Tinberg, Senior Executive Vice President and Chief Banking Officer at CNB Bank & Trust, N.A., Oak Forest branch, was recently appointed to the Community BancService Corporation Board for the Community Bankers Association of Illinois. He has been a community banker for more than 38 years. His recent community banking experience includes serving as president of Interstate Bank, Oak Forest, IL, from 1988–2008.

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Federal Home Loan Bank of Chicago Announces Chairperson of the Board

01/13/2022
The Federal Home Loan Bank of Chicago (FHLBank Chicago) welcomes our newly elected Chairpersons of the Board for 2022-2023. James T. Ashworth has been elected Chairperson of the Board, along with Joseph Fazio III to serve as Vice Chairperson of the Board and Michelle L. Gross to serve as Vice Chairperson – Elect. Mr. Ashworth has been a member of the FHLBank Chicago Board of Directors since 2013. Mr. Fazio has been a Board Director since 2017 and Ms. Gross has been a Board Director since 2015.

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CNB Employees Give Back | 2021

12/21/2021
CNB Bank & Trust continues to make the Holidays and New Year a little brighter for charitable organizations in our communities. See our contributions to charities n 2021.

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Local Community Banker is Named “Career Banker of the Year”

12/06/2021
The Career Development Division (CDD), a division of the Community Bankers Association of Illinois (CBAI), named Katie Ashworth, CRM Officer/ Training Coordinator, of CNB Bank & Trust, N.A., Carlinville, as their “2021 Banker of the Year.”

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CNB Donates 2,500 Pounds of Food Locally

11/24/2021
CNB announces the 22nd annual CNB Food Drive a success! 2,500 pounds of food was collected; 220 at CNB, 460 at Primary School, 250 at Intermediate School, and 1,580 at CMS and CHS, as well as monetary donations totaling $215. A huge thank you to the local schools, Carlinville Food Pantry volunteers, and M&M for the use of their scales. From left: Representatives from CNB include: Jim Ashworth, President & Vice Chairman; Katie Ashworth, CRM Officer & Training Coordinator; Volunteers for the Food Pantry: Kathleen O'Brien, Charles Baker, Wendy Frankford, Saylor Nicholson, John Henry, Becky Lowrance, Natalie Keith

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Community Banker Elected to the 2021 ICBA Federal Delegate Board

09/30/2021
Washington, D.C. (September 29, 2021) — The Independent Community Bankers of America (ICBA) today announced that community banker Shawn Davis, President & CEO of CNB Bank & Trust, NA, Carlinville, Illinois was elected to the ICBA Federal Delegate Board. Davis is one of two bankers from Illinois elected to this position. ICBA is the nation’s voice for community banks.

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CNB School Supply Drive 2021

08/04/2021
CNB Bank & Trust hosted a school supply drive in the Carlinville lobby during the month of July. Community members and bank employees collected over 800 items and monetary donations to give to the Carlinville School District.

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CNB Bank Shares has been named one of the "Top 200 Community Banks" by American Banker for 2021!

07/13/2021
As reported by American Banker, the nation’s top-performing community banks managed to boost profits and minimize loan losses despite the fallout from the coronavirus pandemic. The banking industry received considerable help from the federal government, including leniency with loan deferrals and fees from the Paycheck Protection Program. But the top performers were also able to increase revenue at nearly twice the rate of expenses.

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CNB Opens at New Location with Artistic Flair

06/10/2021
The newest CNB branch hosted an event celebrating its new location, 212 Evergreen Lane, Glen Carbon, featuring works by local artist Steve Hartman. In attendance were the newly elected officials of Edwardsville and Glen Carbon, and CNB’s 14-member staff of banking and wealth management professionals.

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Katie Ashworth Named to ICBA Independent Banker's 40 under 40

06/09/2021
Carlinville, IL (June 1, 2021)—Independent Banker magazine, the award-winning monthly publication of the Independent Community Bankers of America (ICBA), today unveiled its annual 40 Under 40: Emerging Community Bank Leaders list. The award recognizes the nation’s up-and-coming community bank innovators and influencers who represent the future of the industry. Katie Ashworth, CRM Officer / Training Coordinator at CNB Bank & Trust, N.A. is named to the list.

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Southwestern High School Student Wins CBAI Foundation for Community Banking Scholarship

05/24/2021
Anna Gallaher, a graduating senior at Southwestern High School, is the recent recipient of a $500 scholarship from Community Bankers Association of Illinois (CBAI). CNB Bank & Trust sponsored this state-wide scholarship competition which enabled Illinois high school seniors to compete in a statewide essay-writing contest.

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CNB Shareholders Hold Annual Meeting | April 28th 2021

05/21/2021
The shareholders of CNB Bank Shares, Inc. held their annual meeting on Wednesday, April 28, in CNB’s corporate headquarters in Carlinville. In addition to receiving a report on the past year’s performance, shareholders reelected the incumbent board of directors for the ensuing year.

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Causal for a Cause Jeans Day

05/03/2021
CNB Bank employees from 16 branches participated in a Casual for a Cause Jeans Day on April 28th to raise money for the Alzheimer’s Association. The fundraiser was organized by CNB employee, Lisa Wolf, who lost both her parents, Louis & Ruth Wolf, to the disease in the fall of 2016. The day of the fundraiser was held on what would have been Ruth’s 94th birthday.

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CNB Employees Give Back | 2020

12/22/2020
CNB Bank & Trust continues to make the Holidays and New Year a little brighter for charitable organizations in our communities. See our commitment to our communities in 2020.

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The Federal Home Loan Bank of Chicago (FHLBC) announces reelection of James Ashworth of CNB Bank & Trust

11/10/2020
The Federal Home Loan Bank of Chicago (FHLBC) has announced that incumbent directors, James Ashworth of CNB Bank & Trust, and Michelle Gross of State Bank of Bement, have been reelected to serve as member directors for additional four-year terms beginning 1/1/21 and ending 12/31/24.

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Local Bank Officers Join CNB Bank & Trust

10/16/2020
New to CNB Bank & Trust are three local banking officers: Brian Ury, Shannon Scheffel, and Bill Vogt. The three have spent their entire careers as community bankers, serving their local communities.

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Shawn Davis elected chairman of the Community Bankers Association of Illinois

10/01/2020
Shawn Davis, President & CEO of CNB Bank & Trust, was elected chairman of the Community Bankers Association of Illinois (CBAI) during the association’s annual business meeting held virtually on Friday, September 25, 2020. As chairman, Davis serves on the CBAI board of directors, handles the overall affairs of the association in conjunction with the first and second vice-chairman, and serves on its strategic planning and finance committees. He also serves on the Community BancService Corporation board.

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CNB Bank & Trust Wins Excellence and Innovation BKD Award

09/29/2020
Last summer, CNB Bank & Trust, N.A. offered a summer math program for students K-12. The bank worked with local schools to create packets to help students stay fresh with their math skills during the summer, as well as teach financial literacy. Students completing the program received a Visa gift card from the bank and gift certificates that helped promote and support local businesses.

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CNB Top Ag Bank 2020 ICBA Announcement

07/08/2020
CNB is pleased to announce its top spot on ICBA’s Agricultural lenders list for a bank size of $1 billion or more, awarded by ICBA for an exceptional performance last year. CNB is the top ranked Ag Bank in the State of Illinois and the number 6 ranked bank in the nation.

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CNB Supporting Local Businesses During COVID-19 Pandemic

05/29/2020
ALTON, IL – May 6, 2020 . . . CNB Bank & Trust, N.A. has been helping small and local businesses during this unprecedented time. As part of the C.A.R.E.S. Act, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) allowing small businesses to apply for a special loan that helps keep their workforce employed during the COVID-19 crisis.

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CNB Announces Promotion of Andrew Tinberg to Senior Executive Vice President and Chief Banking Officer

03/12/2020
CNB Bank & Trust, N.A. announces the promotion of Andrew Tinberg to Senior Executive Vice President and Chief Banking Officer, effective April 1, 2020. Mr. Tinberg has been in banking for 37 years and before being promoted, he held the position of Market President, and then was promoted to Regional President overseeing the management of CNB’s three Chicago-area branches.

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