Citizens Bancshares logoCitizens Bancshares Corporation is the bank holding company of Citizens Trust Bank (the Bank). The Company was organized to facilitate the Bank's ability to serve its customers' requirements for financial services. The Bank operates 10 branch offices located in Atlanta, East Point, Lithonia, Decatur, Stone Mountain and Columbus, Georgia, and Birmingham and Eutaw, Alabama. The Bank conducts a general commercial banking business that serves Fulton, DeKalb and Muscogee Counties, Georgia, as well as Jefferson and Greene Counties, Alabama. The bank was begun in the early 1900s to primarily serve the needs of black residents of Atlanta, especially those businessmen looking to own and operate their own companies. 

In early January 2009 it was announced that the bank would participate in the Treasury Department’s Capital Purchase Program, and would receive $7.3 million from Treasury in exchange for preferred stock. Because the bank is a Community Development Financial Institution, it is exempt form the requirement to also proved Treasury with a warrant for additional preferred shares.


Resources

Bank Bio Chart | Financial Documents | Federal contracts

Lobbying reports | Political Contributions | Related Articles


Bailout Bank Bio: Citizens Bancshares Corporation

 

Federal Equity Investment

$7.3 million

Total Revenue

$27.402 million

Net Income

$2.856 million

Number of Employees

126

Corporate Headquarters

Atlanta, Georgia

Business Sector

CDFI

Officers and Directors


Young, James, President, Chief Executive Officer, Director of the Company and the Bank

Other Officers and Directors
 

Corporate Website

https://www.ctbatlanta.com

Executive Compensation

Citizens Bancshares Corporation

  

►Financial Documents

2009-01-06 citizens bancshares 8k

2008-09-30 citizens bancshares 10q

2008 citizens bancshares proxy

2007 citizens bancshares annual report

2007 citizens bancshares 10K

Federal contracts

No federal contracts located.

Lobbying reports (if any)

Fourth Quarter 2008

No lobbying reports located.

Political Contributions

No political contributions located.

Related Articles

January 6, 2009 Citizens Bancshares lined up for TARP funds (Atlanta Business Chronicle)

 

Last Updated May 13, 2009

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