Citizens Trust Bank Announces Departure of Principal Officer.ATLANTA -- Citizens Bancshares Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CZBS), parent company of Citizens Trust Bank (CTB CTB Council Tax Benefit (UK) CTB Coopération Technique Belge (French: Belgian Technical Cooperation) CTB Commonwealth Transportation Board (Virginia Department of Transportation) ) announced today that Willard "Chuck" Lewis, the Company's Senior Executive Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. resigned to accept the position of President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of a community bank being established in the Atlanta area. Mr. Lewis joined CTB in early 1998 as part of the management team acquired in Citizens Bancshares' merger with First Southern Bank of Lithonia, Georgia Lithonia is a city in DeKalb County, Georgia, United States. The population was 2,187 at the 2000 census. "Lithonia" means "City of Stone." Lithonia is also home to New Birth Missionary Baptist Church. . James E. Young, Citizens Bancshares' President and CEO, said that Mr. Lewis came to the Company in 1998 at the start of its dramatic turn-around. "Since then, we have seen many changes including an increase in net income from the $84,000 that we reported in 1997 to $2.3 million in 2004. Our assets have grown by 157 percent and we have greatly expanded our operations in Georgia and Alabama. Our large investment in state-of-the art technology now gives our customers 24 hour banking access," Mr. Young said. Mr. Young continued, "While we deeply regret Mr. Lewis' leaving, we wish him well in his new position. Since 1998, we have built a very strong management team with the depth and experience that will collectively handle the COO duties. This will allow a smooth transition until a suitable replacement is found." About Citizens Bancshares Corporation Citizens Bancshares Corporation is the parent company of Citizens Trust Bank (CTB). With 84 years of history, CTB has assets of more than $330 million and nine offices throughout metropolitan Atlanta and Columbus, Georgia Columbus is a city in Muscogee County, Georgia, United States. It is the primary city of the Columbus, Georgia Metropolitan Statistical Area, an MSA which encompasses all of Columbus, Georgia, Chattahoochee, Harris, Marion, and Muscogee counties, Georgia, and Russell County, , a branch in Birmingham, and Eutaw, Alabama. As a leader in the financial services industry, Citizens Trust Bank prides itself on offering a full range of quality banking products and services. Since 1921, the Bank has continued to fulfill its mission to promote financial stability and business development, stress the principles of thrift, and make home ownership a reality. Today, CTB remains dedicated to neighborhood and small business growth, development and advancement through community reinvestment. Citizens Bancshares Corporation, offers its common stock over-the-counter to the general public under the trading symbol Trading symbol See: Ticker symbol CZBS. For more information please visit Citizens Trust Bank on the web at http://www.CTBconnect.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion