LITTLE ROCK - Central National Bank of Canajoharie, N.Y., has signed a five-year extension of its outsourcing relationship with Systematics Financial Services.
Systematics will handle processing for deposits, loans, and general ledger accounts. It will also provide reconciliation, profitability analysis, and collection services to the bank.
Central National has assets of $470 million and is the subsidiary of CNB Financial Corp. The bank has 17 branches spread across six counties in upstate New York.
"The bank's objective over the next few years is to grow via acquisition, and this new agreement will allow for a significant increase in our account volumes without incurring additional data processing expense," said Don Brass, president and chief executive of Central National.