conway national bank

Conway National Bank sets a standard in the community banking sector. As a full-service bank, this one never lets a client down. They have plenty of options for both personal and business banking.

Along with different branches, they want to reach their clients physically. They also have both mobile and online banking that helps to get savings, checking’s, CDs, and many other financial products.

This is the bank that showed why a community bank is important for the community. Now, they are tagged as “Five Star Bank”. It’s a great achievement for them but it’s not a story of the day.

We can talk more about their success in this review.

What is Conway National bank?

The story of Conway National bank begins in 1914 and they established their first branch in Conway, and now it’s their headquarters. Because of its financial growth and performance, it became the 3rd largest bank in the state of South Carolina and the 615th largest bank in the nation.

With an A health rating, this bank is doing its best for the client. In every sector like personal banking, business banking, online banking, and mobile banking, CNB performs flawlessly well.

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In this economic time, what can you get more than a safe, sound, secure bank like this one? Their savings, checking, Deposit account is the best in this region.

Picture: Homepage of (conway national bank) CNB
Picture: Homepage of CNB

What is The Overall Strength of CNB in the Financial Sector?

Already you know that CNB is one of the best community banks out there. That means, their financial parameters are also good.

We tried to figure out all the values related to CNB’s organizational and financial structure. Take a look at what we found below.

ParticularRemarks
FIDC Certificate2012
Year Established1914
Employees248
Primary RegulatorOCC
Return on Assets – YTD0.99%
Return on Equity – YTD11.99%
Annual Interest Income$30.1MM

Assets and Liabilities:

ParticularsQ3 2021Q3 2020
Assets$1.77B$1.45B
Loans$572.3MM$583.9MM
Deposits$1.46B$1.20B
Equity Capital$141.3MM$135.5MM
Loan Loss Allowance$7.1MM$7.3MM
Unbacked Noncurrent Loans$1.3MM$3.2MM
Real Estate Owned$59.00K$174.00K

What Types of Product CNB Offering To Us?

CNB is not only a good bank for service but also the best in offering a wide range of products. They classified their product in different categories like Personal, Business, Investment, Senior, etc. We’ve mentioned all these products and services below.

Personal Product:

  • Personal Checking
  • Personal Savings
  • Personal Loans
  • Online Banking
  • Mobile Banking
  • Safe Deposit Box
  • Banking Fees

Business Product:

  • Business Checking
  • Business Savings
  • Business Loans
  • Online Banking
  • Safe Deposit Box
  • Banking Fees
  • Merchant Service

Investments:

  • CDs
  • IRAs
  • SEP/Simple

Seniors:

  • Senior Checking
  • BankClub
  • CDs
  • Online Banking
  • Safe Deposit Box
  • Banking Fees
  • Reorder Checks
Picture: Community bank offers different financial services
Picture: Community bank offers different financial services

What Are the Rates of CNB’s Popular Financial Product?

A product becomes more attractive and useful to consumers when community banks impose a rate that is helpful to meet expectations. CNB cleverly did this thing.

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From their rate chart, people can easily understand how good or bad their rates are for the offered financial product and services.

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Account0.2% APY$5
Checking Account0.05% APY$500
Certificates of Deposit12 Months: 1.90% APY 24 Months: 2.00% APY 36 Months: 2.11% APY 48 Months: 2.21% APY 60 Months: 2.35% APY$500 for all terms
Money Market Accounts0.25% APY 0.25% APY$10000 $15000

See what we said about the rate. They are offering a better rate for their popular products like savings accounts, checking accounts, money market accounts, and CDs.

To manage money with better return, a consumer can easily choose the products we’ve mentioned earlier. Even their CD rate is fair enough to the national average.

Picture: National Average vs. conway national bank
Picture: National Average vs. Conway National

How Good is CNB’s Mobile Banking Facility?

Most of the community banks are trying to reach their customers in many ways and offer more accessible services.

Based on this purpose, CNB also offers both online and mobile banking. They have launched a mobile application that is available in both Google Play Store and App Store.

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Through this app, their consumers can easily log in with their ID and control the fund as well as the account. It’s not only contemporary but also easy and secure.

This mobile app of CNB offers different types of flexibility. Do you know what are they? Let’s find it out from below.

  • This mobile app is super easy to operate and it’s highly compatible with different Android and iOS devices.
  • Use your phone as well as the mobile app of CNB to find your nearest ATM location. Just activate the GPS service and get the direction to the ATM easily.
  • Through the mobile app, it’s easy to control and monitor everything in your account. Yes, it’s easy to check account balance, view history, and transfer money with a few clicks.
  • The security of the app is undoubtedly better. This app has a real-time alerts feature. All the time a consumer will get an account-related notification like account balances, withdrawals, and deposits.

CNB is offering a 128-bit SSL encryption method for security. Even a consumer can easily set a pin or password that is quite impossible to break. The coolest part about the security of this application is the time-out feature.

Picture: Mobile App
Picture: Mobile App

Conclusion:

Conway National Bank set its goal cleverly and achieved it faster than anything. Their only focus is all the consumers of the community.

This locally-owned bank ensures the best service, customer satisfaction, and 24 x 7 access. They are still growing and their economic growth is only happening because of the consumers.

Now the people of the community know what types of products and services are best. The management and staff are dedicated to the people who want a better, and hassle-free banking experience. For money management, you can’t find a better community bank except for CNB.

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