BankIPO.com Client Approaches Capitalization Goals

BankIPO.com announced today that its Pennsylvania client, CNB Community Bank (In Organization), expects to raise approximately half of their $9 million capital requirement by Friday, which puts them on track to complete the offering by mid-November. This announcement follows a meeting between a group of Clarion County business and civic leaders for an update on the offering, and a review of the bank's offering circular.

The 100 plus people in attendance, who represent both the Chairman's Circle and Advisory Founders Groups, had the opportunity to speak to the proposed management team and Board of Directors regarding the proposed Bank's business plans, and the investment opportunity it presents. By week's end over $1 million of stock had been purchased, not including those purchases made through IRA roll-overs, which will be finalized in the next few weeks.

"The attendance at Monday's meeting and the resulting stock purchases tell us that the community is really excited about the new bank, and they don't want to miss the opportunity to be involved in it," said Bill Hager, proposed Chairman of the Board of Directors of CNB Community Bank (IO). "We were pleasantly surprised by the turnout, which indicates that there is a high level of anticipation from the community."

CNB Community Bank (IO), which received permission to begin their public offering from the Pennsylvania State Department of Banking on July 7, 2003, is completing their capital acquisition campaign with the help of Bankmark, a consulting firm that specializes in opening new community banks. Bankmark, whose proven method of completing the capital acquisition campaign through investments from the community has helped open over 130 institutions across the country, anticipates CNB Community Bank (IO) will be open by the first of the year.

"We could not have come this far without Bankmark's assistance," said Hager. "They have a sound method for driving the stock-sale, which has proven to be fruitful. The number of investors and the amount they are investing continues to increase, so we know our project has been well-received in the community."

CNB Community Bank (IO), which will be headquartered at 333 Main Street in Clarion with a full-service branch at 306 Broad Street in New Bethlehem, will deliver customer-focused services to individuals, professionals, and business clients in the Clarion/New Bethlehem areas. The Bank will also offer a full line of deposit and loan products, mortgage lending services, community education programs, and the choice between technological or personalized, relationship banking. CNB Community Bank (IO) intends to go beyond the traditional boundaries of customer service by developing more than merely a deposit-loan relationship with its customers, and by serving as both a financial and information center for the community. By employing officers and tellers from these communities, CNB Community Bank (IO) will provide customers with access to bankers who are empowered to solve problems at their point of origin.

For more information about CNB Community Bank (IO), or to inquire about their offering, please visit www.cnbcb.com. Investments into CNB Community Bank (IO) can be made only by obtaining a printed copy of the Offering Circular by contacting the bank or its representatives, or downloading it from this site and following the investment guidelines stated therein. CNB Community Bank (IO) reserves the right to refuse investments they feel would remove control of the bank from the hands of the community it is chartered in.

Forward-Looking Information - This press release contains forward-looking statements. It should be reviewed in conjunction with the CNB Community Bank (IO) offering circular, copies of which are available from CNB Community Bank (IO) upon request. Such publicly available information provides additional information regarding risks and uncertainties related to CNB Community Bank (IO) business that should be considered in evaluating "forward-looking statements."

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