The Citizens Bank of Philadelphia Agrees to Purchase Union Planters Branches

The Citizens Bank of Philadelphia Agrees to Purchase Union Planters Branches

Business Editors


The Citizens Bank of Philadelphia, a subsidiary of Citizens Holding Company (AMEX:CIZ), today announced that they have agreed to purchase the Forest and Decatur Branches of Union Planters Bank. This transaction, which is subject to regulatory approval, would increase the assets of The Citizens Bank to over $414 million, an increase of approximately $32 million.

Steve Webb, Chairman, President and Chief Executive Officer of Citizens Holding Company said, “We are excited about the opportunity to expand our presence in these two counties. Forest and Decatur are very similar to the areas we already serve and we feel that these are logical acquisitions for us to make to continue expanding our company.”

Citizens Holding Company is a one-bank holding company and the parent company of The Citizens Bank of Philadelphia, both headquartered in Philadelphia, Mississippi. The Bank has fourteen full service banking locations in seven counties in East Central Mississippi. In addition to full service commercial banking, the Company offers mortgage loans, title insurance services through its subsidiary, Title Services, LLC and a full range of Internet banking services including online banking, bill pay and cash management services for businesses. Internet services are available at the Bank web-site, Citizens Holding Company stock is listed on the American Stock Exchange and is traded under the symbol CIZ. The Company’s transfer agent is American Stock Transfer & Trust Company.

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