| Business Summary | | Citizens
Financial
Corp.
is
the
holding
company
for
its
wholly
owned
subsidiary,
Citizens
National
Bank
(the
Bank).
The
Bank
is
a
full-service
commercial
bank
with
operations
in
the
West
Virginia
counties
of
Randolph,
Tucker,
Grant
and
Pocahontas.
The
Bank
provides
retail
and
commercial
loans,
and
deposit,
trust
and
brokerage
services
to
customers
in
those
counties
and
nearby
areas.
During
the
year
ended
December
31,
2000,
Citizens
Financial
Corp.
established
Citizens
Financial
Services,
LLC,
a
wholly
owned
insurance
subsidiary,
for
the
purpose
of
investing
in
ProServ
Insurance
Agency,
LLC,
a
general
insurance
agency
selling
primarily
property
and
casualty
insurance.
The
Company's
ownership
in
ProServ
is
less
than
5%.
As
of
December
31,
2000,
the
Company
had
total
assets
of
$153.53
million,
total
deposits
of
$121.52
million
and
total
shareholders'
equity
of
$17.39
million. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Citizens
Financial
Corp.
is
a
bank
holding
company
of
its
wholly
owned
subsidiary,
Citizens
National
Bank.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
12%
to
$5.9
million.
Net
interest
income
after
loan
loss
prov.
rose
7%
to
$3.4
million.
Net
income
rose
1%
to
$908
thousand.
Results
reflect
increased
average
earning
assets,
partially
offset
by
higher
interest
expenses.
Net
income
was
partially
offset
by
increased
salaries
and
occupancy
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Max Armentrout, 62 Chairman | -- | Robert Schoonover, 60 Pres
and CEO of Citizens Financial Corp. & Citizens National Bank. & Direct | $98K | Thomas Derbyshire, 42 VP
and Treasurer of Company and VP and CFO of Citizens National Bank | -- | Raymond Fair, 72 VP,
Sec. | -- | 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
|
|