Cortland Banks is a full service, state chartered bank engaged in commercial
and retail banking. The Bank’s services include checking accounts, savings
accounts, time deposit accounts, commercial, mortgage and installment loans,
night depository, automated teller services, safe deposit boxes and other miscellaneous
services normally offered by commercial banks. Commercial lending includes commercial,
financial and agricultural loans, real estate construction and development loans,
commercial real estate loans, small business lending and trade financing. Consumer
lending includes residential real estate, home equity and installment lending.
Cortland Banks also offers a variety of Internet and mobile banking options.
Full service banking business is conducted at a total of thirteen offices,
seven of which are located in Trumbull County, Ohio. The remaining offices are
located throughout Portage, Ashtabula, and Mahoning Counties in Ohio. There
are also two financial service centers located in Beachwood, Ohio, Cuyahoga
County, and Fairlawn, Ohio, Summit County.
The Bank’s main administrative and banking office is located at 194 West
Main Street, Cortland, Ohio.
The Bank, as a state chartered banking organization and member of the Federal
Reserve, is subject to periodic examination and regulation by the Federal Reserve,
the State of Ohio Division of Financial Institutions (Ohio Division) and the
CFPB. These examinations, which include such areas as capital, liquidity, asset
quality, management practices and other aspects of the Bank’s operations,
are primarily for the protection of the Bank’s depositors. In addition
to these regular examinations, the Bank must furnish periodic reports to regulatory
authorities containing a full and accurate statement of its affairs. The Bank’s
deposits are insured by the Federal Deposit Insurance Corporation (FDIC).
The Bank provides brokerage and investment services through an arrangement with
Investment Professionals, Inc. Under this arrangement, financial advisors can
offer customers an extensive range of investment products and services, including
estate planning, qualified retirement plans, mutual funds, annuities, life insurance,
fixed income and equity securities and equity research and recommendations.
Through Investment Professionals, Inc., the Bank also offers asset management
services to customers. Beginning in 2016, the Bank partnered with LPL Financial
and the Ellsworth Group to offer brokerage and advisory services through the
brand Cortland Private Wealth Management.
CSB Mortgage Company, Inc. (CSB) was formed as an Ohio corporation in December
2011. It is a wholly-owned subsidiary of Cortland Banks and functioned as the
originator of wholesale mortgage loans and the seller of company-wide mortgage
loans in the secondary mortgage market.
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3.15% 