CITIZENS STATE BANK ANNOUNCES NEW MANAGEMENT FOR BURTON LOCATION
Citizens State Bank (CSB) has announced new management in Burton as it completes its acquisition of Burton State Bank.
(courtesy Citizens State Bank)
Matthew Stolz will represent CSB in Burton as the branch president. Linda Blacklock, Burton State Bank’s current president, will stay on as the branch manager.
In August, a merger between the two entities was approved by their respective boards of directors. On October 15th, Burton State Bank shareholders approved the sale of the bank.
In a release, CSB said the rest of the employees will continue to work for CSB after the purchase.
CSB President and CEO Aaron Flencher said the acquisition “will be a great addition to the CSB footprint with the local service you know and trust.”
CSB said it has received all of the necessary approvals from the Federal Deposit Insurance Corporation (FDIC), Texas Department of Banking and the Federal Reserve to move forward with the acquisition of Burton State Bank.
The conversion date is set for Friday, December 3rd. The bank will reopen its doors as Citizens State Bank, Burton on Monday, December 6th.