CITIZENS STATE BANK COMPLETES ACQUISITION OF BURTON STATE BANK
(courtesy Citizens State Bank)
Citizens State Bank has completed the acquisition of Burton State Bank.
On Friday, Citizens State Bank received all of the necessary approvals from the Federal Deposit Insurance Corporation (FDIC), Texas Department of Banking and the Federal Reserve to complete the acquisition. The Burton location of Citizens State Bank opened its doors for operation today (Monday) as Citizen State Bank’s seventh branch.
Under the agreement dated August 12th, all Burton State Bank employees remain employed by Citizens State Bank.
Citizens State Bank President and CEO Aaron Flencher said the bank is pleased to complete the acquisition and welcomes Burton State Bank’s customers and employees. He said the two organizations “share a commitment” to customer service and dedication to local communities.
Matt Stolz and Linda Blacklock will lead the Burton location as branch president and branch manager, respectively.
With the addition of Burton State Bank, Citizens State Bank has total assets of approximately $960 million.
Citizens State Bank received financial advisory services from Brent Standefer with Fenimore Kay & Harrison. Burton State Bank received financial advisory services from Sam Hays with Beard Kultgen Brophy Bostwick & Dickson, PLLC.