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Incorporated February 28, 1906 as
Citizens Bank and Savings Company.
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April 30, 1939, the offices of the Tennessee Valley Bank and Citizens
Bank and Savings Company were merged.
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Citizens Bank was the only bank in Russellville that remained
solvent during the depression of the 1930's
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The bank built new offices in Red Bay in 1980 and Hodges in 1981,
making Citizens Bank a "county-wide" bank
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In 1988, the bank formed a holding company called CBS Banc-Corp
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Opened a new subsidiary company of Citizens Bank called Citigroup
Financial Services, Inc. in 1989
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The first Citigroup office was established in Russellville in
1989 with three more offices added in Hamilton, Fayette and Muscle
Shoals, Alabama over the next few years
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Citizens Bank divested itself of its Citigroup Financial Services
subsidiary in Fall of 1996 by selling all assets to First Franklin
Financial
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May 1990, acquired the Russellville/Red Bay offices of Phenix
Federal Savings & Loan Company
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The bank had an opportunity to further expand in April 1993 by
acquisition of First State Bank of Franklin County with offices
on Highway 43 in Russellville and Phil Campbell
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Annuities, mutual funds, stocks and bonds could all be purchased
through a new bank subsidiary known as Franklin Investments, Inc.
in 1994 with the name being changed to Franklin Investments and
Insurance in 1996
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The bank's first Lawrence County office was established in Moulton,
Alabama in September 1995. The new bank was called CBS Bank
because of the existence of a bank already in Moulton named Citizens
Bank
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In 1998, a new 14,000 square foot Service Center was constructed
directly behind our Russellville Main Office
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Our eighth branch opened in Muscle Shoals in January 1999
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The ninth branch office opened in March of 1999 in Florence, Alabama,
in the former Colonial Bank building
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On September 30, 2000, Citizens Bank successfully assumed ownership
of the insured deposits of the Bank of Falkner in Falkner, Mississippi
with a main office in Falkner along with offices in Ripley, Walnut
and Corinth, Mississippi
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On May 2, 2003, Citizens Bank completed its acquisition of Community
Financial Services, Inc., thus extending our market area into the
state of Tennessee. As a result, the Bank of Bolivar, with
offices in Bolivar and Whiteville, Tennessee became a wholly owned
subsidiary of CBS Banc-Corp.
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On June 24, 2005, CB&S Bank successfully completed an acquisition
of seven of the Colonial Bank branches in Northwest Alabama and
Tennessee. These offices are located in Center Star, Cherokee,
Phil Campbell, and Town Creek, Alabama and Ardmore, Fayetteville,
and Pulaski, Tennessee. This acquisition further established
Citizens Bank as a leading community bank in Alabama and expands
its territory in Tennessee.
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On June 24, 2005, the Bank of Bolivar was successfully consolidated
into Citizens Bank.
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In February 2006, a branch location was opened in Decatur, Alabama.
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On April 29, 2006, Citizens Bank successfully completed an acquisition
of Farmers Bank with locations in Cornersville, and Lewisburg,
Tennessee.
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On January 29, 2007, Citizens Bank successfully completed an
acquisition of six offices in Mississippi from AmSouth Bank and
Regions Bank. These offices are located in Clarksdale, Greenwood,
Greenville, Eupora, Starkville, and Sturgis. In
conjunction with this acquisition, three additional offices were
also opened in Clarksdale, Greenville and Greenwood. This
accounted for a little over $300 million of growth.
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In February 2007, Citizens Bank made its way into Madison County,
Alabama by opening a branch in Huntsville.
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Citizens Bank opened its 35th
location in Middleton, Tennessee on October 1, 2007. This is
the bank's third location in Hardeman County with two other
locations in Bolivar and Whiteville, Tennessee.
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Citizens Bank opened its 36th location in Corinth, Mississippi on
November 5, 2007.
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On March 3, 2008, Citizens Bank and Savings Company officially
changed its name to CB&S Bank.
