ATLANTA, April 14, 2015 /PRNewswire/ -- Citizens
Bancshares Corporation (OTCQB: CZBS) (the "Company"), the parent
company of Citizens Trust Bank (CTB), announced today its annual
dividend on common stock of $0.08 per
share, payable on April 30, 2015 to
shareholders of record as of the close of business on April 15, 2015.
Cynthia N. Day, President and
Chief Executive Officer, stated, "Through the focused and diligent
efforts of our team, 2014 was another successful year in our
continuing journey of delivering value to our shareholders. We are
pleased to report that the Company's operations, competitive
posture, and foundation for growth are all stronger today than a
year ago. We saw meaningful growth in key components of our balance
sheet and continued growth in earnings through improvement in asset
quality and prudent expense management. As a result, we are pleased
to be able to continue to provide our shareholders a return on
their investment through this dividend declaration. We thank
them for their continued support of Citizens Bancshares Corporation
and appreciate the trust they have placed in us."
Since its inception, the Citizens Trust Bank has remained
dedicated to the growth and development of communities by providing
quality financial solutions and extraordinary service. The Bank
takes pride in offering its financial solutions throughout
metropolitan Atlanta and
Columbus, Georgia, and
Birmingham and Eutaw, Alabama. Through its parent company,
Citizens Bancshares Corporation, the Bank offers its common stock
over-the-counter to the general public under the trading symbol
CZBS and can be found on the web at www.CTBconnect.com.
Certain statements in this news release may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, such as statements
relating to future plans and expectations, and are thus
prospective. Such forward-looking statements are subject to risks,
uncertainties, and other factors, such as a downturn in the
economy, greater than expected noninterest expenses, volatile
credit and financial markets, potential deterioration in real
estate values, regulatory changes and excessive loan losses, which
could cause actual results to differ materially from future results
expressed or implied by such forward-looking statements. Although
we believe that the assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could prove to be
inaccurate. Therefore, we can give no assurance that the results
contemplated in the forward-looking statements will be realized.
The inclusion of this forward-looking information should not be
construed as a representation by our company or any person that
future events, plans, or expectations contemplated by our company
will be achieved. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Citizens Bancshares Corporation