The Citizens National Bank of Somerset history

1922: On February 20th, Bank moved to the Duncan Hotel, which also housed the Colored YMCA at Fourth Avenue and Cedar Street (now Charlotte Avenue).

Williams became president, he began to acquire stock in the bank and by the late 1940’s had managed to obtain majority interest.

1946: Citizens Bank reached $1 million in capital and deposits.

1969: Citizens Bank reached the $5 million asset mark.

Davis arrived, the bank began construction of a new main office building which was occupied in November 1974.

After this structure was completed, plans were made for the construction of the Burnside Branch which opened for business in October of 1976.

1979: Bank branch opened on Jefferson Street after buying property from First American.

In keeping with this commitment to provide superior service to its customers, a new branch location was opened in October 1981 in the Somerset Mall.

In April 1984, a new branch facility was opened on South Highway 27.

Also in 1986, the former United Department Store was purchased to provide room for a much-needed expansion program.

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 the 1990’s the bank established full service ATM’s at all locations and 16 cash dispensing machines throughout the county.

In 1993, the bank reached a milestone in attaining $200,000,000 in assets, and $20,000,000 in capital with this growth occurring the last twenty years.

In December 1997, Advisory Boards for each branch were established.

On December 7, 1998, the new Waitsboro Branch opened.

On December 1, 1999, the bank opened the Nancy Branch.

In April 2001, a new branch was opened in Science Hill, giving the Bank 8 locations to help serve Pulaski County and our customers.

2006: Bank opened Memphis Branch located at 7444 Winchester Road.

In 2009, a Loan Production Office, the bank’s first office outside Pulaski County, opened in Monticello, Kentucky.

2014: The Bank reached its goal of $100 million in assets.

In November 2015, Citizens Financial Group (NYSE: CFG) became a fully independent publicly-traded company, just over a year after the successful completion of the largest commercial bank initial public offering (IPO) in United States history.

2017: Attorney Richard Manson elected as Citizens Bank’s Chairman of the Board.

2018: Sergio Ora appointed President and Chief Executive Officer.