Centreville National Bank, now CNB, will close the High Street branch in mid-August, according to CNB President Win Trice.
“We are going to close the downtown branch and transfer the accounts into our Washington Avenue branch,” Trice said. “The Washington Avenue branch was built with the recognition that customers everywhere were voting with their feet…they prefer drive-through windows, drive up ATMs, and ready access to parking.”
“As a result, the Washington Avenue branch has grown beautifully and the High Street branch, at best, has held its own,” Trice said. “At some point and time you need to recognize what customers are telling you.”
Trice also said the decision was not a cost-cutting measure and the employees are secure in their jobs.
“CNB generally is not in a cost cutting mode. All we’ve done is simply recognize, by watching transaction volumes and account openings and closings, customers increasingly migrate to Washington Avenue,” Trice said. “No employee will lose their job, and everyone is being offered comparable positions everywhere else.”
The branch manager, Shannon Piasecki, said ”it made the most sense to merge the two branches at Washington Avenue, often we have customers open a new account downtown, but then they do most of their business at Washington Avenue.”
Piasecki said CNB intends to sell the High Street property after the branch is closed, but CNB is more focused now on efforts to keep the customers informed and transition them smoothly to Washington Avenue.
“As of the end of April and early May, we have sent notices to all of our customers about merging of the two branches,” Piasecki said.
Piasecki will become the manager of the Grasonville branch on Kent Island, and the employees are in the process of making their transfer requests.
CNB merged with old Kent Savings and Loan in 1997.
CNB is an affiliate of Shore Bancshares, Inc., which “is the largest independent financial holding company located on the Eastern Shore of Maryland,” according to its website https://www.shbi.net/ , “As of December 31, 2010, the Company had assets of $1.1 billion, loans of $895 million, and deposits of $980 million.
Keith Thompson says
This seems to make economic sense for CNB and at least in this case its a downtown vacancy that isn’t a result of a struggling business and doesn’t mean a loss of jobs. This move also illustrates that the dynamics of the town is changing in that residents are finding it easier to frequent businesses along the Rt. 213 corridor. This also illustrates the need to have some sort of economic draw (marina/riverfront?) to bring people downtown, especially since the downtown seems to be increasingly isolated from the main travel route through the town.
Joanne Ghio says
What disappointing news! We live in Crestview, across from the Washington Avenue branch, but more often use the downtown branch. For us, it is very convenient to pop in there to make deposits on our way to Sam’s for our afternoon coffee or stuff our pockets with cash before we head over to the farmer’s market. We enjoy Connie, Ronnie, and Jessica and wish them all the best in their new positions. We’ll miss you!
Marge says
This is disappointing. We (living about a mile away) do not live within easy walking distance, but I’d rather go downtown to this branch than contribute to and deal with Rt. 213 traffic. Our business at CNB (generally not practical at a drive-up window) often also involves a stop at Peoples Bank, easy to do on foot downtown with the two banks less than a block apart, with any other stops en route or nearby also easily made. Now more gas $$$, time, and hassle will be involved.
jenifer says
I’m relieved to know that our friends at the branch won’t be losing their jobs, but it’s a disappointment nonetheless. From what I’ve observed, many of the downtown merchants use this branch – especially on Saturday mornings – and that cash machine always looks busy to me. It’s a sad signal that another door is closing downtown.
jenifer says
P.S. ….. not to mention the annoying need for a car to get to the branch up on Washington Avenue.
Keith Thompson says
@Jenifer,
Look at the big picture. The Farmer’s Market is successful in getting people downtown on Saturday mornings. What can the town do to get people downtown Monday through Friday? Answer that question and it will go a long way to into filling empty downtown storefronts.
Jim Landskroener says
We were Kent S & L customers long before CNB took them over, and I loved having a downtown bank almost as much as I love our downtown in general. I was really pleased with the way CNB made the transition and never for a moment considered going in another direction after the merger. I was on a first name basis with the KS&L people and quickly became so with Connie, et al. When the new facility opened north of town, I took it as a sign that the downtown branch may soon become obsolete. I also took it as a sign of good small bank that was able to grow when so many others were imploding. As I would expect, CNB is doing all the right things by their customers and staff alike. (Take note PNC account holders.) The Washington Avenue branch is a welcoming facility and the people there are a pleasure to work with. I’m even learning some of their names!
Frank Ogens says
Sad to see it go! I got a mortgage for my house on Kent Island in 1978 from the Kent Savings and Loan…..
Vicky says
The personal service given by the Manager and tellers at the downtown branch have been exceptional. I sincerely hope that the Washington Ave. branch follows suit.
I will miss stopping in……met some very nice people that work at the downtown branch! They made me feel like they cared about me and not just an account!
John Hutchison says
Although I understand the reasoning and business sense of closing the High Street branch, I think it is a shame to do so. I have my own personal reasons for thinking so (I live one block away, across from the park, and work 2 blocks away on Church Alley), but I also think that closing the High Street branch, is yet another knife in the side for the downtown economy. I respect CNB’s decision; it may very well be the right decision for the company. I worry though, whether downtown Chestertown will ever see the light of day, with respect to economic stability.