Financial leader Mary Kate Loftus tapped to lead bank inspired by women in business.
May 17, 2023 (Seven Hills, Ohio)
– Impressia Bank, a new, full-service banking division of CNB Bank, celebrated its market debut at a press conference today at the Seven Hills office of its sister division, ERIEBANK. The Bank is dedicated to the professional and financial development and advancement of women business owners and leaders. Built by a steering committee of women in business and banking, CNB Bank has tapped distinguished financial leader Mary Kate Loftus to lead the charge as the first President of Impressia Bank.
Focused on elevating women business owners and women in leadership, Impressia Bank will provide clients with innovative resources and unapologetically redefine the banker/client relationship. Those resources, which will continue to be introduced throughout the year, will include education, grant support, SBA support, private network access, a dedicated news feed, and more – all with the purpose of providing credit access, promoting financial literacy, and supporting business development for the women’s economy.
“Impressia Bank was founded to fill a void in banking and to serve the fast-growing women’s economy,” says Mary Kate Loftus, newly appointed President. “Despite growing at twice the rate of other businesses (and even faster for women of color), women-owned businesses book a lower number of loans, at shorter terms and higher interest rates. We are here to close that funding gap and invest in the success of women-owned businesses and the women who lead them by providing education and resources above and beyond what they may find at any other bank.”
Headquartered in Buffalo, New York, Impressia Bank is the sixth bank division of CNB Bank and will begin within the existing geographic footprint of ERIEBANK in the Erie, Pennsylvania, and Cleveland, Ohio communities. Impressia Bank will strategically expand to the remaining CNB markets, and then beyond those borders utilizing an online presence. Impressia Bank’s online approach will be complemented by regional relationship managers and support managers, as well as specialized services such as SBA and grant advisory services, treasury management, wealth management, and private banking. As part of the CNB Bank family of banks, Impressia Bank clients will have access to more than 47 full-service branches in Pennsylvania, Ohio, New York, and Virginia.
In her role as President of Impressia Bank, Ms. Loftus will be responsible for the customer experience, strategy, and operations of Impressia Bank and report to Angela Wilcoxson, Executive Vice President, Chief Commercial Banking Officer for CNB Bank.
“Impressia Bank is designed to break the glass ceiling for women business owners and women leaders. Mary Kate understands the importance of building a community that allows women to thrive,” said Ms. Wilcoxson. “Through Impressia Bank, we can empower and uplift one another, creating a strong network of women entrepreneurs who can drive innovation, growth, and success. When we invest in women, we invest in the future of our economy and society."
With nearly 25 years of Banking experience, Ms. Loftus brings her passion for supporting women as well as her expertise in customer experience, strategic growth, and community banking to her role as President of Impressia Bank. In this role, she will focus on developing leaders and successfully investing in women entrepreneurs to level the gender gap in funding.
Ms. Loftus served in leadership positions at Fortune 500 financial institutions with responsibility for transformational change, strategy, and customer engagement through Digital Banking, Branch Management, and Contact Centers. Among her career achievements, Ms. Loftus was identified by Forbes
as one of “6 Women Changing the Face of Leadership in Banking and Finance”.
Ms. Loftus is a graduate of Binghamton University and holds an MBA from Canisius College in Buffalo, New York, is a graduate of the Consumer Bankers Association Executive Banking School and was the Vice Chair of the CBA Digital Channels Committee. She recently received certification in Blockchain and Digital Assets from Wharton Executive Education.
In attendance at the press conference were representatives from ATHENA Akron and the Urban Land Institute (ULI) of Cleveland’s Women’s Leadership Initiative. Impressia Bank presented $1,000 donations to each organization and will continue to offer ongoing support to the community through local sponsorships, donations, and employee volunteer efforts.
To learn more about Impressia Bank, visit ImpressiaBank.bank
Women-owned business statistics
- Women own 39% of the small businesses operating across the U.S., yet only 27% of women seek financing for their business1
- Women-owned businesses employ an estimated 10.1 million workers2
- Women-owned businesses in the U.S. generate $1.8 trillion a year3
- In 2020, VISA reported that 66% of women still encounter significant challenges in securing the funding they need
About CNB Financial Corporation
CNB Financial Corporation is a financial holding company with consolidated assets of approximately $5.5 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, three loan production offices, one drive-up office, one mobile office and 47 full-service offices in Pennsylvania, Ohio, New York and Virginia. CNB Bank’s divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; and Ridge View Bank, with loan production offices in the Southwest Virginia region. CNB Bank is headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank