Citizens Holding Company Completes Merger with Charter Bank
Citizens Holding Company (“Citizens”) (Nasdaq: CIZN), the parent company of The Citizens Bank of Philadelphia (“Citizens Bank”) announced today that it has completed its merger with Charter Bank (“Charter”), effective October 1, 2019. The combined company now has approximately $1.2 billion in total assets with 28 offices spread throughout Mississippi.
“We are excited to have completed our merger with Charter Bank. This merger expands our presence on the Mississippi Gulf Coast and we also believe this merger will benefit both Charter’s and our existing clients with expanded locations, services and products. We look forward to building an even stronger community bank with Charter being a part of the Citizens Bank family,” commented Gregory L. McKee, President & Chief Executive Officer of Citizens.
Founded in 2008, Charter has 4 locations throughout the Mississippi Gulf Coast region. As of June 30, 2019, Charter had approximately $154 million in total assets, approximately $104 million in loans and $128 million in total deposits.