The Canandaigua National Bank and Trust Company

Overview / Commentary
72 South Main Street
Canandaigua, NY 14424

The Canandaigua National Bank and Trust Company is headquartered in CANANDAIGUA and is the 23rd largest bank in the state of New York. It is also the 281st largest bank in the nation. It was established in 1887 and as of September of 2023, it had grown to 640 employees at 26 locations. The Canandaigua National Bank and Trust Company has a B+ health rating.

Reviews (4)

Focused Personal Service

After moving to Upstate New York, I heard about this bank everywhere, but didn't think I'd move my accounts there because, as a small business owner, I didn't keep the minimum balanced required for fee-free banking. Only after moving my personal accounts to CNB did I discover -- thanks to one of many one-on-one conversations with a banker -- that the fees associated with lower-balance business banking were low and totally worth paying in exchange for the overall customer experience. I've moved between cities several times and have thus worked with several banks. CNB has surprised me at every turn with their personal focus, variety of options, and willingness to provide a degree of consulting that empowers me to make better financial decisions. Did I mention that their online banking interface is awesome? I would recommend this bank to anyone.

A Small Bank That Makes A Difference

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Canandaigua National Bank is active in upstate New York, especially in the Rochester and Finger Lakes area. They have been in business since 1887, and have developed a reputation for individualized service and a broad range of offerings for individuals and businesses. They have 23 locations, and are active in a number of charitable organizations in the area within which they work. I have been banking with CN Bank for more than ten years now. They handle my checking and savings accounts, I have had loans with them as well as CDs. I would imagine that they offer just about any banking service that is required, but what makes them really stand out, for me, is the people. When I go to a branch for any reason, the tellers and other bank personnel are always courteous and polite. I was once a bank teller myself (not for them) and it can be a stressful job, but it's clear that the folks at CN Bank love what they do. They also get points for making banking easy to understand. Their monthly statements are easy to read and understand, and online banking is so simple with them that I almost enjoy paying bills. Almost. Although I can't vouch for the technical end of this, they seem to do everything in their power to make the online banking experience a secure and safe one, and I trust them. I've done my banking at large, impersonal corporate banks before and I much prefer the experience of working with a small bank in my hometown. If you reside in this area, I urge you to give them a try--you won't be sorry.

Happy with free checking, wish transactions processed faster.

I have had a checking account and a savings account with Canandaigua National Bank for about 4 years. I have been very happy with the checking account because there is no account fees as long as I have a direct deposit paycheck going in. When I switched to this bank, I also qualified for a Line of Credit which is linked to my checking account to protect me if I overdraw my account. I like the savings account just fine, it is a basic savings account which earns a few cents of interest per year. The online app is usable, but not the best banking app I have ever seen. I cannot deposit checks through the app, which is inconvenient. The ATM's used to only have envelope deposits but in the past year or so they have switched over to having no-envelope deposit which is much more convenient. The only thing I am truly not happy about with this bank is that everyday transactions and deposits can sometimes take days to show up on your account. My boyfriend does his banking with a different local bank and his transactions show up instantaneously on his account, even if it is the weekend or a holiday. I am happy with these accounts for now, but may switch to another bank in the next few years.

New Online Banking

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CNB Launched a new online-banking system in November of 2011. Given the array of systems out there, I can't imagine where or who designed this cumbersome, slow and graceless system. My biggest complaint is the speed - because of my husband's work, we have Roadrunner Extreme - but with this site I have plenty of time to tap my fingers as I wait for a page to load - assuming it will. Like all "changeovers" there seem to have been some bumps, but most distressing is the missing data - like statements, check images, etc. 

So, it's slow and missing data, but if that isn't enough, there's the look of it: this site has all the grace and beauty of "early PC." It brings to mind a home-made data base for managing video store VHS tapes. It doesn't dovetail with the commericial end of the bank's website at all. In short, it's a clunker to look at. Then when you pull up past statments, the images are so small they're hard to read and there's no mechanism to increase the size - or to print or download them! 

I understand the bank was under the wire to secure their old site after a cyber-hacking bilked the town pf Pittsford out of more than $100,000 but surely there were other experts they could have approached - call Bank of America, M&T, Citibank, HSBC, any other bank! Find out who built their sites and hire them! 

It looks as unprofessional as it feels. Perhaps it's as strong as Fort Knox, but the speed and other issues will send me to a compeitor and I doubt I'm the only one who feels this way.


Health Grade Components

FDIC Certificate #6985
Year Established1887
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.98%
Return on Equity - YTD13.46%
Annual Interest Income$161MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$4.92B$4.72B
LoansQ3 2023vs Q3 2022$3.68B$3.42B
DepositsQ3 2023vs Q3 2022$3.66B$3.77B
Equity CapitalQ3 2023vs Q3 2022$356.6MM$331MM
Loan Loss AllowanceQ3 2023vs Q3 2022$34MM$37.1MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$9MM$14.7MM
Real Estate OwnedQ3 2023vs Q3 2022$221K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Canandaigua National Bank and Trust Company Money Market Rates

0.75%*$500k*$100kOptimum Money Market Account
OTHER TIERS: 0.05% $2.5k - $50k | 0.25% $50k - $100k | 0.50% $100k - $500k

The Canandaigua National Bank and Trust Company CD Rates

5.00%$50k-9 Months CD Special - New Money
4.50%$500-8 Month CD Special With Optimum Checking Account
4.50%$10k-5 Months CD Special - New Money
4.50%$50k-14 Months CD Special - New Money
4.50%$10k-4 Month CD Special - New Money
4.40%$500-8 Month CD Special With Other/No Checking Account
4.00%$500-13 Month CD Special With Optimum Checking Account
3.90%$500-13 Month CD Special With Other/No Checking Account
3.50%$500-31 Month CD Special With Optimum Checking Account
3.40%$500-31 Month CD Special With Other/No Checking Account


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