Women-Focused Bank Opens in State College

A full-service bank dedicated to women in business celebrated its debut in the State College market this week.

Impressia Bank, a division of CNB Bank, is located inside CNB’s office at 1960 Old Gatesburg Road.

Focused on “the professional and financial development and advancement of women business owners and leaders,” Impressia provides clients with education, grant support, Small Business Administration support, private network access and more. It aims to provide credit access, promote financial literacy, and support women’s business development.

“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,” Mary Kate Loftus, the first president of Impressia Bank, said in a news release. “We are here to close that funding gap and invest in the success of women-owned businesses and the women who lead them. CNB Bank’s commitment to women is not new. Expanding Impressia Bank to State College is another proof point of our belief that when women succeed, communities thrive.”

Impressia marked its launch in the State College market with a ribbon-cutting at the CNB office. Representatives of Teammates for Life, the Penn State women’s athletics initiative led by retired Nittany Lion field hockey coach Char Morett-Curtiss, were on hand to receive a $1,500 donation.

The bank will “continue to offer ongoing support to the community through local sponsorships, donations and employee volunteer efforts,” according to a news release.

Impressia launched in May as the sixth division of CNB. It has digital-centric approach “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.”

Clients have access to 51 full-service CNB branches in Pennsylvania, New York, Ohio and Virginia.

“With the arrival of Impressia Bank in the State College market, our efforts in State College are being elevated to new heights. This partnership will empower women, creating a strong network of pioneering entrepreneurs who ignite innovation and propel growth,” Dustin Minarchick, regional president of CNB Bank, said. “Mary Kate’s commitment to nurturing a flourishing community is undeniable. I am excited to offer my support to Mary Kate and her team as they strive to narrow the wealth disparity for women in State College.”