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Canandaigua National Bank shows resilience amid financial challenges in banking industry

  • / Updated:
  • Staff Report 

Despite recent challenges faced by some financial institutions, Canandaigua National Bank & Trust (CNB) remains well-capitalized and well-prepared to serve its customers and the community. CNB, an insured member of the Federal Deposit Insurance Corporation (FDIC), ensures the protection of its deposits.

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CNB President and CEO Frank H. Hamlin III emphasized the bank’s commitment to local communities. “As a community bank, we reinvest our deposits back into the communities we serve,” he said.

He added that CNB’s diversified approach to deposits, lending, and funding sources reduces the risk of impacts from a single industry or investment, and that local decision-making allows the bank to prioritize the region’s economic health and wellbeing.


Hamlin also pointed out the economic stability of the Rochester region, noting its lack of saturation with venture capital and start-ups, as seen in areas like Silicon Valley. This characteristic shields the region from the volatility experienced by start-up companies unable to withstand adverse economic conditions.

Established in 1887, Canandaigua National Bank & Trust is the only local, full-service, community-owned financial institution in the region. With 25 branches across Ontario and Monroe counties and three Financial Services Offices, CNB offers a comprehensive range of financial services for individuals, businesses, municipalities, and not-for-profit organizations.

In an FAQ, CNB assured customers that their deposits are safe, with up to $250,000 protected by FDIC. The federal government has also extended protections for deposits over $250,000 for banks facing difficulties. CNB’s long history of success through various economic challenges and its diversified, balanced loan portfolios contribute to its resilience in the face of industry-wide obstacles.