CNB Financial in Clearfield, Pennsylvania, is betting big on women in business.
The $5.3 billion-asset CNB plans to launch Impressia Bank early next year to offer specialized services such as Small Business Administration loans, grant advisory, treasury management, wealth management and private banking to women entrepreneurs and business leaders.
CNB is searching for a president to lead Impressia. The division will at first work in concert with CNB's bankers across Pennsylvania, Ohio, New York and Virginia. But executives plan to expand Impressia to other markets over time via digital banking services and products.
"This is a perfect opportunity to deepen relationships and support the already high, yet growing, number of women-owned businesses," Angela Wilcoxson, CNB's chief commercial banking officer, said in a press release on Monday. "A prioritization of women-owned businesses would complement other divisional growth activities and allow the bank to provide even better banking options for more businesses in our communities."
In addition to traditional banking services, Impressia clients will have access to resources related to business development strategies. The division also plans to build a community of women business leaders who support each other with guidance and advice. CNB said Impressia will connect clients with financial experts and other resources to help cultivate and support women business owners.
"We're looking to move beyond the scope of offering traditional banking services. Our goal is to provide an entire banking and financial support network for current and prospective women leaders," Michael Peduzzi, CNB's president and chief executive, said in the release.
"We recognize that access to capital remains the largest barrier to market entry and success for female founders and women-owned businesses," Peduzzi added. Impressia "will strive to propose solutions pertaining to credit access, financial literacy, and business development to promote and encourage the small business spirit and career development of women."
