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Company Description

Contact Info

230 Peachtree Street, NW

Suite 2700

Atlanta, GA 30303

United States

Phone: 404-659-5959


Citizens Bancshares Corporation operates as the bank holding company for Citizens Trust Bank that provides a range of commercial banking services to individual and corporate customers. The company operates under a state charter and serves its customers through its home office and six full-service branches in metropolitan Atlanta; one full-service branch in Columbus, Georgia; one full-service branch in Birmingham, Alabama; and one full-service branch in Eutaw, Alabama. The company conducts a general commercial banking business that serves Fulton, DeKalb and Muscogee counties, Georgia, as well as Jefferson and Greene counties, Alabama; acts as an issuing agent for the U.S. savings bonds, travelers checks and cashiers checks; and offers collection teller services. Loan Portfolio The company engages in a complement of lending activities, including consumer/installment loans, mortgage loans, home equity lines of credit, construction loans, and commercial loans, with particular emphasis on small business loans. Consumer Loans: The company’s consumer loans consist primarily of installment loans to individuals for personal, family, and household purposes, including loans for automobiles, home improvements, and investments. This category of loans also includes loans secured by second mortgages on the residences of borrowers. Commercial Lending: Commercial lending is directed principally toward businesses whose demands for funds fall within the company’s legal lending limits and which are existing deposit customers of the company. This category of loans includes loans made to individual, partnership, or corporate borrowers and obtained for various business purposes. Investments The company invests primarily in obligations of the United States, obligations guaranteed as to principal and interest by the United States, government-sponsored enterprises securities, general obligation municipals and other taxable securities. Deposits The company offers a range of commercial and consumer deposit accounts, including non-interest bearing checking accounts, money market checking accounts (consumer and commercial), negotiable order of withdrawal accounts, individual retirement accounts, time certificates of deposit, sweep accounts, and regular savings accounts. Correspondent Banking The company purchases correspondent services offered by larger banks, including check collections, security safekeeping, investment services, wire transfer services, coin and currency supplies, overline and liquidity loan participation, and sales of loans to or participation with correspondent banks. Supervision and Regulation The company is a bank holding company under the federal Bank Holding Company Act of 1956. As a result, the company is primarily subject to the supervision, examination, and reporting requirements of the Bank Holding Company Act and the regulations of the Board of Governors of the Federal Reserve System. As a bank holding company located in Georgia, the Georgia Department of Banking and Finance also regulates and monitors all aspects of the company’s operations. The company’s common stock is registered under Section 12 of the Securities Act of 1934, as amended. To qualify to become a financial holding company, the bank and any other depository institution subsidiary of the company must be capitalized and managed, and must have a Community Reinvestment Act rating of at least ‘satisfactory’. The bank is primarily subject to the supervision, examination and reporting requirements of the Georgia Department of Banking and Finance, and the Federal Reserve Bank of Atlanta. The bank is a member of the Federal Reserve System. Additionally, the bank’s deposits are insured by the FDIC to the maximum extent provided by law. The bank’s deposits are insured by the Deposit Insurance Fund of the FDIC up to the maximum amount permitted by law. The bank is also subject to consumer laws and regulations intended to protect consumers in transactions with depository institutions, as well as other laws or regulations affecting customers of financial institutions generally. These laws and regulations include but are not limited to the federal Truth-In-Lending Act; the Home Mortgage Disclosure Act of 1975; the Equal Credit Opportunity Act; the Fair Credit Reporting Act of 1978; the Fair Debt Collection Act; National Flood Insurance Act and Flood Disaster Protection Act; Real Estate Settlement Procedures Act; Bank Secrecy Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001; Sections 22(g) and 22(h) of the Federal Reserve Act; Soldiers’ and Sailors’ Civil Relief Act of 1940, as amended; Talent Amendment in the 2007 Defense Authorization Act; the rules and regulations of the various federal agencies charged with the responsibility of implementing these federal laws; the Right to Financial Privacy Act; the Electronic Funds Transfer Act and Regulation E issued by the Federal Reserve to implement that act; Truth-In-Savings Act; and the rules and regulations of the various federal banking regulators charged with the responsibility of implementing these federal laws. The company and the bank are subject to the provisions of Section 23A and Section 23B of the Federal Reserve Act. History Citizens Bancshares Corporation was founded in 1921. The company was incorporated as a Georgia business corporation in 1972.


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Valuation CZBS Industry Range
Price/Earnings 8.3x
Price/Sales 1.0x
Price/Book 0.4x
Price/Cash Flow 6.9x
TEV/Sales NM Not Meaningful

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