| Business Summary | | Citizens
Bancshares
Corp.
is
a
financial
holding
company
that
operates
Citizens
Trust
Bank
(the
Bank)
and
Citizens
Trust
Bank
Mortgage
Services,
Inc.
(Mortgage
Services).
The
Bank
operates
thirteen
branch
offices
located
in
Atlanta,
Lithonia,
Decatur,
Stone
Mountain
and
Columbus,
Georgia.
The
Bank
conducts
a
general
commercial
banking
business
that
serves
Fulton,
DeKalb
and
Muscogee
Counties,
acts
as
an
issuing
agent
for
U.S.
savings
bonds,
traveler's
checks
and
cashiers
checks,
and
offers
collection
teller
services.
The
Bank
has
no
subsidiaries.
Mortgage
Services
is
a
mortgage
company
licensed
by
the
State
of
Georgia
and
has
received
lender
approval
from
the
Department
of
Housing
and
Urban
Development,
FHA,
Fannie
Mae
and
the
Veterans
Administration. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CZBS
is
a
holding
company
that
provides
commercial
banking
and
mortgage
brokerage
services
to
individual
and
corporate
customers
in
Atlanta,
GA.
For
the
six
months
ended
6/30/01,
interest
income
rose
7%
to
$9.8
million.
Net
interest
income
after
loan
loss
prov.
fell
14%
to
$4.7
million.
Net
income
fell
14%
to
$1.2
million.
Net
interest
income
reflects
growth
in
loan
volume,
offset
by
higher
loan
loss
provision.
Net
income
reflects
an
increase
in
salaries
and
employee
benefits. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Herman Russell, 69 Chairman | -- | James Young, 50 Pres,
CEO, Director | $188K | Gregory Baranco, 51 Vice
Chairman | -- | Samuel Cox, 42 CFO,
Sr. VP | -- | Williard Lewis, 39 COO,
Sr. Exec. VP, Sec. | 129K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|