CITIZENS BANKSHARES INC history

In recognition of the need for a solid financial institution to serve local customers and businesses, founders organized Farmers and Mechanics Bank in West Point, Virginia on January 28, 1927.

Citizens Bank was charted in January, 1949 and officially opened its doors for business on July 25, 1949.

Forest Sartain was President of Citizens Bank until 1959.

In 1960, Alvin Wylie became President of Citizens Bank and would serve in this capacity for the following ten years.

In July, 1968, Citizens State opened a new drive-thru window facility.

In 1972, the bank name changed from Citizens State Bank and Trust Company to Citizens Bank.

In 1973, the bank moved into its new banking facility at 301 E. Main Street, Kilgore, Texas.

In 1975, the bank became a member of Allied Bancshares, Inc., a Houston-based multi-bank holding company.

In February of 1978, with assets totaling $37 million, the Bank established its first branch on 14th Street in West Point and began offering drive-through service to customers.

In 1983, Wibur F. Yates became Chairman of the Board and was still active as President.

In 1986, a group of local investors reached an agreement with Allied Bancshares, Inc. of Houston to purchase 100 percent of the outstanding shares of Allied Citizens Bank.

In 1987, the bank was purchased by local investors and the name of the bank was changed to Citizens Bank.

Citizens had three acquisitions in different decades that helped shape the momentum of the Company prior to a period of rapid growth which began in 1988, the year Citizens Financial Group, Inc. was acquired by The Royal Bank of Scotland Group.

In 1989, Citizens Bank established an oil and gas lending department and the bank became the only oil and gas bank between Dallas and Shreveport.

In August of 1990, Citizens Bank acquired the deposits and certain assets of the First National Bank of Levelland and established a banking center in that location.

In January of 1993, Citizens Bank acquired two First City banks located in Kountze and Sour Lake, Texas and established banking centers in each of those locations.

Shareholders also approved a major reorganization by creating a one-bank holding company, C&F Financial Corporation, officially formed on March 8, 1994.

In the fall of 1995, the Bank formed C&F Mortgage Corporation and assumed the leadership of five mortgage origination offices with 60 employees.

Soon after the successful launch of its mortgage business, in 1997 the Bank sold its part-ownership of Virginia Title Center in Roanoke and instead began offering title insurance services through its own C&F Title Insurance Agency, Inc., located within the headquarters of C&F Mortgage Corporation.

The Bank celebrated its 50th anniversary in July of 1999.

In August 2004, Sammy D. York was named President and CEO of Citizens Bank.

In early 2006, Citizens Bank opened a new loan production office in The Woodlands, Texas.

On July 25th, 2009, Citizens Bank held a 60th birthday party in each of its banking center locations.

In April, 2014, Citizens Bank officially opened a new permanent Bryan/College Station Banking Center in Bryan, Texas.

Thomas F. Cherry became the bank’s fourth President in January of 2015, and today also serves as Chief Executive Officer of C&F Financial Corporation and C&F Bank.

In May, 2016, Citizens Bank Kilgore received the Cornerstone Award from the Texas Bankers Association for the Habitat Home Build.

Growth continued in 2017 with the opening of a commercial and branch location along the downtown mall in Charlottesville.

In April 2020, C&F Bank converted all systems and signage for the recently acquired Peoples Community Bank in the Northern Neck of Virginia.