Cnb Bancorp Inc [Va] (CNBV)

CNB Bancorp, Inc. was incorporated as a Virginia corporation on November 12, 2001, to serve as a bank holding company that holds all of the outstanding capital stock of Citizens National Bank (the Bank). The Company closed its public offering on December 31, 2002. The Bank makes and holds real estate-related loans, consisting mainly of mortgage loans, home equity lines of credit and non-farm, non-residential loans secured by real estate (typically owner-occupied commercial buildings). The Bank's commercial lending is directed mainly toward small to medium-size businesses whose demands for funds fall within the legal lending limits of the Bank. The Bank's commercial loans are made to individual, partnership or corporate borrowers, and are obtained for a variety of business purposes. The Bank makes consumer loans, consisting mainly of installment loans to individuals for personal, family and household purposes, including loans for automobiles, home improvements and investments. In addition to its loan operations, the Bank makes other investments mainly in obligations of the United States or obligations guaranteed as to main and interest by the United States and other taxable securities such as corporate bonds. The Bank's core deposits include checking accounts, money market accounts, a variety of certificates of deposit and IRA accounts. In addition to its lending and deposit products and services, the Bank offers internet banking, commercial cash management, bill pay, commercial deposit capture, mortgage brokering, debit cards, travelers' checks, notary public services, wire services, safe deposit box rental, ATM services, On-Call telephone banking, and other traditional bank services to its customers. The Company's main service area consists of the 15-mile radius surrounding its main office location in the Town of Windsor, Virginia. This area includes all of the County of Isle of Wight, the Cities of Franklin and Suffolk, and portions of Southampton, Surry and Sussex Counties. Both the Company and the Bank are subject to extensive state and federal banking laws and regulations that impose restrictions on and provide general regulatory oversight of their operations.