CNB News & Events

CONWAY NATIONAL BANK PROVIDES OUTLET FOR PROPER AMERICAN FLAG RETIREMENT | e-STATEMENTS NOW AVAILABLE | 1ST QUARTER '17 SHAREHOLDER LETTER | TEACH CHILDREN TO SAVE | EMPLOYEE RECOGNITION

CONWAY NATIONAL BANK PROVIDES OUTLET FOR PROPER AMERICAN FLAG RETIREMENT

Conway, SC - As a tribute to our wonderful nation, Conway National Bank is proud to serve as a drop-off location for those individuals wishing to retire their American flag. When the flag becomes worn, torn, faded or badly soiled, it is time to replace it with a new one, and the old one should be retired with all the dignity and respect befitting our nation's flag.

The U.S. Flag Code states, "The flag, when it is in such condition that it is no longer a fitting emblem for display, should be destroyed in a dignified way, preferably by burning."

CNB delivers the flags to the Boy Scouts of America to ensure proper retirement is carried out. They are one of a select few service organizations permitted to actually retire a flag.

While the ceremony for flag retirement varies by organization, the Boy Scouts offer a carefully choreographed ceremony. These emotional ceremonies, also known as 'final honors', are performed with precision and care. The organization takes this civic duty very seriously and performs the ceremonies under the watchful eye of Scoutmasters and District Executives.

"It is both an honor and privilege to have a hand in something as sacred to our country as retiring the American flag," says Jennings Duncan, President and CEO of CNB. "We have offered the service of being a drop-off location for years, and it is something we will continue to offer for years to come."

Flags can be dropped off at any of CNB's fifteen (15) locations, Monday-Thursday, 9 am - 5 pm, and Friday, 9 am - 6 pm. For physical addresses for each of CNB's locations, please visit our Locations page.


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e-STATEMENTS NOW AVAILABLE

CNB e-Statements are online bank statements that look exactly like your mailed paper statements. They are a safe, convenient way to view, print, or download your account statements from our Online Banking website. We can alert you when your statements are ready and it's FREE. To find out how you can sign up for this service, visit one of our 15 offices today.


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TO OUR SHAREHOLDERS AND FRIENDS:

Economic releases continue to indicate a stimulated economy with acceptable levels of inflation and unemployment. The U.S. national economy experienced moderate continued growth in the first quarter of 2017. According to the Bureau of Economic Analysis, a division of the U.S. Department of Commerce, the U.S. national real gross domestic product (GDP) grew at an annual rate of 0.7% during the first quarter of 2017, in its advance estimate. Growth in real GDP for the first quarter of 2017 primarily reflects increases in nonresidential fixed investment, exports, residential fixed investment, and personal consumption expenditures, partly offset by decreases in private inventory investment, state and local government spending, and federal government spending. Locally, total real estate transactions increased 15.3% for the first three months of 2017, at 3,989, as compared to the first three months of 2016, at 3,460.

The Company's net income for the three months ended March 31, 2017 totaled $2,218,000, up 5.2% from $2,109,000 for the first three months of 2016, for a return on average assets of .82% and a return on average equity of 8.37% as compared to .81% and 8.13%, respectively, for the first three months of 2016. On a per share basis, earnings increased 6.2% to $1.37 for the first three months of 2017, as compared to $1.29 for the first three months of 2016.

Total assets increased to $1,102.4 million at March 31, 2017, an increase of 6.1% from $1,038.7 million at March 31, 2016; and capital stood at $106.6 million at March 31, 2017, compared to $103.6 million at March 31, 2016, up 2.9%. Total deposits were $908.1 million at March 31, 2017, an increase of 6.6% from $851.5 million at March 31, 2016. Repurchase agreements increased to $82.9 million at March 31, 2017, an increase of 4.1% from $79.6 million at March 31, 2016. Loans totaled $464.0 million at March 31, 2017, an increase of 0.3% from March 31, 2016; and investment securities were $541.5 million, an increase of 13.2% from March 31, 2016.

Net income for the three months ended March 31, 2017 of $2,218,000 is primarily the result of the Bank's net interest income. Net interest income increased 3.1% to $7,745,000 for the first three months of 2017 from $7,515,000 for the first three months of 2016. Other factors which affect earnings include the provision for loan losses, noninterest expense, and noninterest income. No provision for loan losses was required for the three month periods ended March 31, 2017 or 2016. The allowance for loan losses, as a percentage of net loans, stood at 1.61% at March 31, 2017 as compared to 1.73% at March 31, 2016. Noninterest expense increased 4.7% for the first three months of 2017 to $6,482,000 as compared to $6,190,000 for the first three months of 2016; and noninterest income increased 12.0% to $2,078,000 from $1,855,000 for the first three months of 2017 and 2016, respectively. The increase in noninterest expense was primarily due to an increase in salaries and employee benefits, substantially attributable to an increase in the cost of medical insurance coverage and partly offset by decreased FDIC insurance premiums. Noninterest income increased due to increased other operating income, primarily credit card merchant fee income and debit card fee income.

The Bank is presently in the process of issuing Europay, MasterCard, and Visa (EMV) plastics chip technology for debit card customers. As well, the Bank's credit cards have been redesigned with a new and updated look and will be reissued as EMV cards in the early third quarter of this year.

Conway National continues to grow, maintains a substantial financial position, and is experiencing much improved profitability, all of which compare favorably to local markets. Conway National remains dedicated to its conservative banking practices; and, as always, we are very appreciative of your continued support. We look forward to the future and continuing to build your bank steeped in our traditions of exceptional customer service, trust, and dedication to all of the communities we serve.

W. Jennings Duncan, President
CNB Corporation and The Conway National Bank


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CNB Educates Children on the Value of Saving

Our current economic times serve as a great reminder of how important it is to teach our young children the value of saving. Conway National Bank is proud, once again, to partner with the American Bankers Association by participating in their annual Teach Children To Save Day. This event brings students and bankers together to increase savings education. Since it was started by the ABA Education Foundation in 1997, more than 60,000 bankers have reached some 2.8 million young people.

CNB has participated in this event several years and has had the privilege of reaching thousands of second graders throughout their service area in Horry County and the Waccamaw Neck area of Georgetown County. While the national program focuses on children of all ages, CNB felt if you could teach them early enough, it would become a lifelong lesson. "CNB firmly believes that teaching children about money and savings is a crucial part of providing our youth with a superior education," says Jennings Duncan, President and CEO of CNB. "Children are typically fascinated by money and enjoy spending. That's why CNB has joined the nationwide effort to help educate children on these issues."

While this year's Teach Children to Save Day was April 21, CNB will implement its program May-June to accommodate the school system's academic calendar and statewide testing. Spreading it over two months rather than just one day also allows the Bank to reach a lot more children. The 45-minute program is conducted by several bank representatives and includes games and activities allowing students to apply the concepts of saving money. "Financial literacy is critical to personal and professional success. Money is not just a resource that you work for; it is a resource that should work for you. CNB has taken a leadership role in helping educate children about financial responsibility. It is just another example that shows they are invested in our children and in our community for the long haul." says Teal Britton, Horry County Public Information Officer. At the end of the program, each student receives a CNB piggy bank and a $5.00 savings certificate, which they can deposit in their previously opened or new CNB savings account. "These children are our future. Everything we do for them today helps secure a better tomorrow," says Duncan. "We are pleased to offer this program, and are encouraged by the enormous support we receive from our community educators. Without their support, none of this would be possible."

Plans are already underway for this year's program, and schedules are being set with the schools. If you have not participated in the past, but would like a visit from CNB, call Marcie Shannon, Banking Service Representative, at 488-8310.

In addition to the Teach Children to Save program, CNB works with high school students in the Fall with a Get Smart About Credit program.


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EMPLOYEE RECOGNITION:

Conway National Bank Honors Frances Carroll
Conway, SC - The Conway National Bank has recognized Frances Carroll for fifteen years of continued services to the bank, CNB officials have announced.

A native of Conway, she is a graduate of Conway High School and is a savings clerk at the Operations and Administration Center in Conway. She lives in Conway with her husband, Sammy, and has two sons, Atlas and Cameron.


Conway National Bank Honors Alison Faulk
Conway, SC - The Conway National Bank has recognized Alison Faulk for fifteen years of continued service to the bank, CNB officials have announced.

A native of Georgetown, S.C., and a graduate of Horry-Georgetown Technical College, and The American Institute of Banking. She is a Loan Processor at the Conway Banking Office. She lives in Conway with her husband, Willie, and has two children, Keara and Brandon.


Conway National Bank Honors Melanie Green
Conway, SC - The Conway National Bank has recognized Melanie Green for ten years of continued service to the bank, CNB officials have announced.

A native of Atlanta, GA., she is a graduate of Waccamaw High Schol and Georgia Tech. She is a customer service representative at the Red Hill Office. She lives in Myrtle Beach with her husband, Royce, and has a son, Will. She is a member of the Grand Strand Masters Swim Team and the Pawleys Island Flute Choir.


Conway National Bank Honors James Samaha
Conway, SC - The Conway National Bank has recognized James Samaha for five years of continued service to the bank, CNB officials have announced.

A native of Little River, SC, he is a Network Specialist I at the Operations and Administration Center in Conway. He is a graduate of Thomas Edison State University in Trenton, NJ. He lived in Longs with his wife, Ellen, and son, Asher. He is a board member of Adaptive Surf Project and keyboard player at Seacoast Vineyard Church.


Conway National Bank Honors Gloria Major
Conway, SC - The Conway National Bank has recognized Gloria Major for ten years of continued service to the bank, CNB officials have announced.

A native of Horry County, she is a teller at the North Myrtle Beach Office. She is a graduate of North Myrtle Beach High School and is currently attending Miller-Motte Technical College. She lives in Loris with her husband, Desmond, and has five children, Amber, Anthony, Daraius, Terrell, and Mason.


Conway National Bank Honors Kim Price
Conway, SC - The Conway National Bank has recognized Kim Price for five years of continued service to the bank, CNB officials have announced.

A native of Manassas, Va., she is a graduate of Osbourn Park High School in Manassas. She is a customer service representative at the Surfside Office. She lives in Myrtle Beach with her husband, Doug, and has a daughter, Marisa.


Conway National Bank Honors Freeman Holmes
Conway, SC - The Conway National Bank has recognized Freeman Holmes for thirty years of continued service to the bank, CNB officials have announced.

He is a graduate of Loris High School, Coastal Carolina University, and The South Carolina Bankers School. He is a Banking Officer/Operations Analyst at the Operations and Administration Center in Conway. He is a Certified Fraud Examiner.


Conway National Bank Honors Jennifer Pruett
Conway, SC - The Conway National Bank has recognized Jennifer Pruett for twenty years of continued service to the bank, CNB officials have announced.

She is a graduate of Conway High School and lives in Conway with her husband, Quentin, and sons, Nicholas, Logan, and Dillon. She is a teller at the West Conway Office.


Conway National Bank Honors Vanessa Bagwell
Conway, SC - The Conway National Bank has recognized Vanessa Bagwell for ten years of continued service to the bank, CNB officials have announced.

She is a graduate of North Cobb High School in Acworth, Ga., and is a head teller at the Northside Office. She lives in North Myrtle Beach with her husband, Brad.


Conway National Bank Honors Stephen Wayne
Conway, SC - The Conway National Bank has recognized Stephen Wayne for ten years of continued service to the bank, CNB officials have announced.

He is an Auditor at the Operations and Administration Center in Conway. He attended Hillcrest High School and Liberty University. He lives in Conway with his wife, Brittany, and is an Elder and Treasurer at Grace Presbyterian Church.


P. Alex Clayton Jr. Promoted to Vice President
Conway, SC - The Conway National Bank has promoted Alex Clayton to the position of Vice President, CNB officials have announced.

A native of Conway, he is a graduate of Carolina Forest High School and Clemson University. He is the Vice President-Operations Management at the Operations and Administration Center in Conway. He lives in Myrtle Beach with his wife, Sarah, and has two children, Ayla and Philip.


Angela H. Hearl Promoted to Banking Officer
Conway, SC - The Conway National Bank has promoted Angela Hearl to the position of Banking Officer, CNB officials have announced.

A native of Conway, she is a graduate of Conway High School, The American Institute of Banking and Horry-Georgetown Technical College. She is a Senior Credit Analyst at the Operations and Administration Center in Conway. She lives in Conway with her husband, Kevin, and has two daughters, Courtney and Chelsea. She attends Free Welcome Freewill Baptist Church.


Christy H. Broughton Promoted to Banking Officer
Conway, SC - The Conway National Bank has promoted Christy Broughton to the position of Banking Officer, CNB officials have announced.

A native of Kershaw, SC, she is the Teller Trainer Coordinator at the Operations and Administration Center in Conway. She lives in Conway with her husband, Randy, and has three children, Brandon, Brentley, and Alicia.


Jackie S. Siratt Promoted to Banking Officer
Conway, SC - The Conway National Bank has promoted Jackie Siratt to the position of Banking Officer, CNB officials have announced.

A native of Horry County, she is a graduate of Green Sea High School and Horry-Georgetown Technical College. She is a Senior Loan Operations Specialist at the Operations and Administration Center in Conway. She lives in Bayboro with her husband, Tommy, and has two children, Julianna and Reed. She attends Bayboro Baptist Church.


James P. Jordan, III Promoted to Vice President
Conway, SC - The Conway National Bank has promoted James P. Jordan, III to the position of Vice President, CNB officials have announced.

A native of Myrtle Beach, he is a graduate of Socastee High School, Coastal Carolina University, South Carolina Bankers School and Graduate School of Banking at LSU. He is a Loan Officer at the Murrells Inlet Office. He lives in Murrells Inlet with his wife, Emeline, and has two daughters, Lainey and Mary Charlotte. He is a member of the Murrells Inlet Rotary Club and the Murrells Inlet 2020 Advisory board.


Joe Hunter Hyman Promoted to Assistant Vice President
Conway, SC - The Conway National Bank has promoted Joe Hunter Hyman to the position of Assistant Vice President, CNB officials have announced.

A native of Conway, he is a graduate of Conway High School, Coastal Carolina University, and South Carolina Bankers School. He is a Loan Officer at the Little River office. He lives in Conway with his wife, Mary Catherine, and children, Annie and Will. He is a member of First United Methodist Church in Conway. He is involved with Billy’s Boys, Coastal Carolina Chrysalis, and a coach with the Conway Recreation Department.


Marsha S. Jordan Promoted to Assistant Vice President
Conway, SC - The Conway National Bank has promoted Marsha Jordan to the position of Assistant Vice President, CNB officials have announced.

A native of Horry County, she is the Loan Operations Manager at the Operations and Administration Center in Conway. She is a graduate of Aynor High School and The American Institute of Banking. She lives in Conway and attends The Refuge Church.