Olanta, S.C.- The Citizens Bank today announced the signing of definitive agreements between The Citizens Bank and each of Johnsonville State Bank and Pamplico Bank and Trust Company to merge those institutions into The Citizens Bank. The merger will bring together three of the area's oldest community banks.
"This is a unique opportunity to unite these strong community banks," said Blake Gibbons, President of The Citizens Bank. "We look forward to continuing our tradition of personal service while competing effectively for our customers in a changing market."
The mergers are subject to regulatory approvals and other customary closing conditions and are expected to occur near the end of the second quarter of 2007.
Upon completion of the mergers, The Citizens Bank will have over $300 million in assets. The Citizens Bank will offer ATMs, debit cards, phone banking, internet banking, alternative investments, secondary mortgage loans as well as many additional products to the customers of Johnsonville State Bank and Pamplico Bank and Trust.
"We are excited about the opportunities that The Citizens Bank will present for our customers and our communities as a whole," said Al Munn, Chairman of Pamplico Bank and Trust and Johnsonville State Bank. "The mergers will reward our customers, maintaining the hometown feel they are accustomed to, while offering access to ATMs and a greater array of products at competitive rates."
"The Citizens Bank is known for its dedication to exceptional customer service, and upon completion of the mergers, that mission will remain the same," said Gibbons.
The Citizens Bank is headquartered in Olanta, S.C. Founded in 1943, The Citizens Bank has established itself as a leading community bank by delivering an old-fashioned style of service coupled with modern day financial products. Following the mergers, The Citizens Bank will have 12 branches located throughout the state of South Carolina: Olanta, Turbeville, St. George, Lake City, Scranton, Sumter, Pawleys Island, Timmonsville, Lynchburg, Florence, Pamplico and Johnsonville.