Bailout Bank Bio: Citizens South Banking Corporation

Dec 15, 2008 | 2 min read | Print Article

Citizens South Banking Corporation is the holding company for Citizens South Bank. Citizens South Bank has 14 full-service branch offices in the North Carolina Counties of Gaston, Union, Rowan, and Iredell. The company is headquartered in Gastonia, North Carolina. As part of the Treasury Department’s Capitol Purchase Program, Citizens South will issue $20.5 million of senior preferred stock to the government, along with warrants to purchase $3.1 million in common stock.

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Bailout Bank Bio: Citizens South Banking Corp


Federal Equity Investment	$20.5 million
Total Revenue	$53.37 million (2007)
Net Income	$5.67 million (2007)
Number of Employees	133
Corporate Headquarters	Gastonia, North Carolina
Business Sector	Financial
Officers and Directors	David W. Hoyle, Chairman of the Board Kim Stuart Price, President, Chief Executive Officer, Director of the Company and Bank Ben Richard Rudisill II, Vice Chairman of the Board Gary Foster Hoskins, Chief Financial Officer, Executive Vice President, Treasurer of the Company and Bank
Corporate Website	http://www.citizenssouth.com
Executive Compensation	Citizens South Banking Corporation