Suffolk News-Herald

Windsor’s newest bank is one step closer to its planned spring opening.

CNB Bancorp, Inc, the holding company for Citizens National Bank (in organization), has raised the necessary capital to open its new community bank in the Isle of Wight community, said Douglas A. Chesson, bank president and CEO.

Citizens National Bank is planning to open a temporary office at 11407 Windsor Blvd. Construction will begin shortly thereafter on a permanent building at the same location, Chesson said.

Stocks were sold right up until the Dec. 31 disclosing deadline, he said.

&uot;It took right up until the last day,&uot; Chesson said. &uot;But we are moving forward.&uot;

The community has proved supportive of plans to open Citizens National Bank, he added.

&uot;We have had a lot of positive feedback from people,&uot; Chesson said. &uot;A good percentage of our shareholders come from our market area (of Suffolk, Isle of Wight County and parts of Southampton County.)&uot;

Tentative plans call for the bank to open its second branch three years after opening its first office, Chesson said. No decision has been made on a location.

&uot;That will depend on what the market is doing a year from now,&uot; he said. &uot;We’re excited. I believe we are in a growth market right now.&uot;

Citizens is just one of the community banks planning to open in Suffolk. A second community bank, Suffolk First Bank, is also in organization.

Farmers Bank, also based in Windsor, has opened a branch office on Holland Road and has plans to open a permanent office on Godwin Boulevard.

Announcements of mergers by several local banks over the last couple of years spurred the decision to organize Citizens National Bank, said Stewart Tyler, chairman of the bank and holding company.

&uot;We recognized the need for a banking organization that offers a more personal touch to banking,&uot; Tyler said. &uot;We feel we can meet this need and help our community grow and prosper.&uot;