News Room

Cortland Bancorp Reports First Quarter 2009 Results
Story Highlights
- The Banks core operations are unchanged and have not been impacted by the investment losses.  
-  Earnings, excluding the investment losses are in line with budget expectations and prior year results.
-  Customer deposits are fully insured up to $250,000 under FDIC Insurance.  Under the FDIC Temporary transaction program, certain transaction accounts exceeding $250,000 are also insured through December 31, 2009.
-  Management and the Board of Directorate are proactively managing capital to ensure that the Bank and the Bancorp remain well capitalized.

Cortland Banks Supports Harvest for Hunger Campaign
Youngstown, OH (03/16/09) – The community is invited to drop off non-perishable food items at any Cortland Banks Branch in the Mahoning Valley during the month of March.  For a list of locations, please visit www.cortland-banks.com. 

Cortland Bancorp Reports 2008 Earnings and Announces 2009 First Quarter Stock Dividend
Cortland Bancorp ( the "Company;" OTCBB: CLDB ) today reported annual earnings for the year ended December 31, 2008.

GROWTH REPORT: 5-star Bank branches out, proves to be safe, sound
CORTLAND, OHIO – Cortland Banks recently completed a three-year branch renovation and expansion plan with the opening of its North Lima office located in southern Mahoning County. The branch located at 9001 Market Street in North Lima repositions an existing branch located two miles to the east. The new location, conveniently located at the intersection of state Route 7 and Western Reserve Road, was selected to attract a broader segment of customers living, working and operating businesses in the North Lima, Boardman, Poland and surrounding communities. The three-year branch renovation and expansion project included the construction of new branching facilities in Windham and Brookfield, and expansion into Geauga County with the opening of a Middlefield office.

Cortland Banks Staff Announcements; Bailey Joins As Newest Team Member
Peggy Bailey | Community Banking Manager/AVP
Cortland Banks recently announced the hiring of Peggy Bailey as an Assistant Vice President and Community Banking Manager for Cortland Banks’ Boardman Victor Hills Plaza and North Lima offices. Peggy was most recently a Vice President and Business Relationship Specialist at First Place Bank. She has 7 years of banking experience and has been with Cortland Banks since January 2, 2009.

Cortland Banks, Only Local Bank to Earn 5-Star Rating

CORTLAND, Ohio (12/19/08) - Cortland Banks has once again earned Bauer Financial's highest rating - 5-stars! This marks the 61st consecutive quarter that Cortland Banks has achieved this honor, a feat that less than 1000 of the United States' banks can claim to have accomplished. The Bauer rating is based upon the financial condition of each bank, including an evaluation of its capital strength, asset quality and profitability. According to Bauer, Cortland Banks is in the top 10.6% of all banks nationwide. Cortland Banks is the only local bank to achieve a 5-star rating and for 61 consecutive quarters.

Cortland Banks Holds Ribbon Cutting Ceremony
NORTH LIMA, Ohio (11/24/08) – Cortland Banks held its ribbon-cutting event Monday, November 24th at 10:30 a.m.., formally marking the ceremonial opening of its recently constructed North Lima office. The celebration took place with the Youngstown Area Regional Chamber of Commerce, Beaver Township Trustees, The Murphy Contracting Company, Jakubick/Sexton Architects, Cortland Banks Executive Management and North Lima branch staff. The North Lima office first opened its doors Monday, November 17, 2008.

Cortland Banks Announces North Lima Office Opening
NORTH LIMA, Ohio (11/7/08) – Cortland Banks announced today that it will open its newest branch, in North Lima, on Monday, November 17, 2008. The new full-service office, located at 9001 Market Street, is approximately 2,927 square feet. It features three drive-thru lanes that will open at 8 a.m. Monday through Saturday, a 24-hour drive-up ATM and a night depository drop box. Cortland Banks will be running grand opening promotions at its newest location between November 17th and December 17th.

Cortland Bancorp Reports Third Quarter Earnings
Cortland Bancorp reported, today, that the Company earned $1.078 million or $0.25 per share during the third quarter of 2008 compared with earnings of $1.075 million or $0.24 per share for the same quarter a year ago. The Company’s third quarter earnings exceed earnings of $1.034 million, or $0.23 per share, and $805 thousand, or $0.19 per share, reported for the previous two quarters ended March 31, 2008 and June 30, 2008, respectively. Quarterly cash dividends were $0.22 per share and remained unchanged from the three previous quarterly dividend periods.

Security Team Warns of Spoof E-mails
CORTLAND, Ohio (10/22/08) – Cortland Banks has become aware of a spoof e-mail purportedly sent by the bank security department regarding "Internet Banking Security." Cortland Banks did not originate this e-mail, nor will the Bank notify customers of a problem in this manner and ask customers to click on or use a link provided in an unsolicited e-mail. As a security measure, Cortland Banks would like to inform the public of these spoof e-mails.

2008 Consolidated Statements of Condition and Income
To view, please click "download file" to download the 2008 Consolidated Statements of Condition and Income PDF.

Cortland Banks launches new and improved website
Cortland Banks has officially launched the newly redesigned cortland-banks.com website! The site is user friendly, with quick links to learn all about the bank’s business and personal account products. Cortland Banks continues to offer its customers free online banking. You can pay your bills, check your balance, make transfers and more! Cortland-banks.com gives its customers access to their personal checking benefits, allows them to order checks and gift cards, view current deposit and consumer rates, and login to Merchant Capture....

Cortland Banks receives Bauer Financial's highest rating
Cortland Banks has earned Bauer Financial’s highest rating – 5-stars! This marks the 59th consecutive quarter that Cortland Banks has achieved this honor, a feat less than 1000 of the United States’ 8,492 banks can claim to have accomplished. This statistic puts Cortland Banks in the top 12% of all banks nationwide. The Bauer rating is based upon the financial condition of the bank, including the capital as quality and the profitability of the institution.

Cortland Banks opens brand-new office in Brookfield
Cortland Banks held its gala ribbon-cutting event Tuesday, June 24th at 5 p.m., formally marking the ceremonial opening of its recently constructed Brookfield office.  The celebration took place with the Youngstown Area Regional Chamber of Commerce and the Shenango Valley Chamber of Commerce in attendance during an Open House event held from 5 to 7 p.m. at the new office located at 7202 Warren-Sharon Road.

Cortland Banks to build new office in North Lima
Cortland Banks held its ground-breaking ceremony on Monday, June 23rd at 11 a.m. formally marking commencement of the renovation and construction of its newest branch.  Over the next several months, Cortland Banks will be constructing this brand new North Lima branch location.

Cortland Banks Promotes Carrie Cmil to AVP
Cortland Banks recently announced the promotion of Carrie Cmil to Assistant Vice President. Carrie previously held the title of Commercial Loan Officer at the Boardman branch of Cortland Banks. She has 7 years of banking experience and has been with Cortland Banks since November.

Cortland Banks: The 116 year-old new kid in town
Cortland Banks held its ribbon-cutting ceremony Thursday, May 15th at 5 p.m., formally marking the commencement of renovations made on its brand new Middlefield branch.  The ceremony took place with the Middlefield Chamber of Commerce during an Open House event from 5 to 7 p.m. at the new office, which is located at 15561 West High Street in Harrington Square Plaza.

Cortland Bancorp Reports 3.8% Increase in Quarterly Earnings; Asset Quality Improves; Growth in Net Loans Tops 9% in 2007
Cortland Bancorp reported, today, that it earned $1.116 million or $0.25 per share for the fourth quarter ending December 31, 2007 compared with earnings of $1.075 million or $0.24 per share for the quarter ended September 30, 2007 and $1.182 million or $0.26 per share in the same quarter last year.

Cortland Banks to build new office in Brookfield
Cortland Banks held its ground-breaking ceremony on Monday, January 28th at 11 a.m. formally marking commencement of construction on a brand new, stand-alone branch.  Construction is scheduled to be completed by June 2008.  VendRick Construction Incorporated has been selected as the general contractor.

Chairman K. Ray Mahan announced that at the November 27, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular quarterly dividend of $0.22 per share and a 1% stock dividend were declared.
Chairman K. Ray Mahan announced that at the November 27, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular quarterly dividend of $0.22 per share and a 1% stock dividend were declared. Both dividends are payable to shareholders of record as of December 14, 2007.  Payment and distribution to shareholders will occur on January 1, 2008 and January 2, 2008 for the stock dividend and cash dividend, respectively.

Lawrence A. Fantauzzi, President and Chief Executive Officer of Cortland Bancorp, reported that for the nine month period ended September 30, 2007, the Company's earnings were $3.234 million.
Lawrence A. Fantauzzi, President and Chief Executive Officer of Cortland Bancorp, reported that for the nine month period ended September 30, 2007, the Company's earnings were $3.234 million.  The Company earned $3.394 million during the same nine month period a year ago.  For the quarter ended September 30, 2007, the Company earned $1.075 million as compared to $1.057 million for the previous quarter, and $1.143 million for the same quarter of the previous year.

Chairman K. Ray Mahan announced that at the May 22, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular dividend of $0.22 per share was declared.

Chairman K. Ray Mahan announced that at the May 22, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular dividend of $0.22 per share was declared.  The dividend is payable to shareholders of record as of June 15, 2007.  Payment and distribution to shareholders will occur on July 2, 2007.

Chairman K. Ray Mahan announced that at the February 27, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular quarterly dividend of $0.22 per share was declared.
Chairman K. Ray Mahan announced that at the February 27, 2007 meeting of the Board of Directors of Cortland Bancorp (the “Company”) a regular quarterly dividend of $0.22 per share was declared. The dividend is payable to shareholders of record as of March 16, 2007.  Payment and distribution to shareholders will occur on April 2, 2007.

Cortland Bancorp reported, today, that it earned $1.182 million, or $0.26 per share, in the fourth quarter ended December 31, 2006, as compared to earnings of $1.093 million, or $0.25 per share, in the similar quarter of last year.
Cortland Bancorp reported, today, that it earned $1.182 million, or $0.26 per share, in the fourth quarter ended December 31, 2006, as compared to earnings of $1.093 million, or $0.25 per share, in the similar quarter of last year.   Lawrence A. Fantauzzi, President and Chief Executive Officer, also announced that the Company earned $4.576 million, or $1.02 per share, for all of 2006 as compared with $4.334 million, or $0.98 per share, in 2005.