Citizens Bank & Trust Holds Highest Deposit Market Share for Second Year
10/16/2020
By: Kasey Culbert
In a market previously dominated by major chain banks, Citizens Bank & Trust continues to hold the highest deposit market share in Marshall County, Alabama for the second year running, based on the annual FDIC Summary of Deposits (SOD).
On September 18, 2020, the Federal Deposit Insurance Corporation (FDIC) released results of its report of branch office deposits for all FDIC-insured institutions as of June 30, 2020.
“We are truly excited and thankful to celebrate this accomplishment as a community bank for the second year in a row.” president and CEO Charlie Williams, said. "It’s no secret that 2020 has presented many challenges and the banking world has experienced its fair share of those challenges. So, the fact that we maintained this position in a year like no other in banking history, and still without any acquisitions, is a testament to the hard work of the Citizens team. We are especially honored by the confidence our customers have placed in our bank."
The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 86,000 domestic offices operated by more than 5,000 FDIC-insured commercial and savings banks, savings associations, and the U.S. branches of foreign banks.
ABOUT THE COMPANY
Citizens Bank & Trust opened for business on March 3, 2003, and is headquartered in Guntersville, Alabama. It is the largest community bank based in Marshall County and has eight full-service offices located in Albertville, Arab, Cullman, Elkmont, Guntersville, Hazel Green, New Hope, and Rogersville, a wealth management division, and a mortgage division. Citizens Bank & Trust is insured by the FDIC and is an equal housing lender. For more information visit www.citizensbanktrust.com or find Citizens Bank & Trust on Facebook, Twitter, Instagram, or YouTube.