Citizens Trust Bank Celebrates 100 Years of Service

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Citizens Trust Bank, one of the largest Black-owned banks in the United States, is celebrating its 100th anniversary in 2021. Founded in 1921 by a group of African American businessmen in Atlanta, the bank has played a crucial role in supporting the local community, especially during critical times like the COVID-19 pandemic. Over the past century, Citizens Trust Bank has expanded its footprint, acquired other financial institutions, and seen pioneering leadership from trailblazing CEOs.

Why it matters

Citizens Trust Bank's 100-year legacy represents the resilience and determination of the Black community in Atlanta. As one of the few remaining Black-owned banks in the country, the institution has weathered economic storms and served as a financial anchor for generations. Its continued growth and community focus highlight the importance of diverse representation in the banking industry.

The details

Citizens Trust Bank was founded in 1921 by a group of five African American businessmen, known as the 'Fervent Five,' who pooled their resources to establish a bank that would primarily serve the Black community in Atlanta. The bank opened its doors on Sweet Auburn Avenue with $500,000 in capital stock. Over the decades, Citizens Trust Bank has achieved several milestones, including becoming the first Black-owned bank to join the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System. The bank has also played a crucial role during critical times, such as providing essential support to small businesses through the Paycheck Protection Program during the COVID-19 pandemic.

• Citizens Trust Bank opened its doors on August 16, 1921.
• In 1947, Citizens Trust Company became the first Black-owned bank to be a member of the Federal Reserve System.
• During the civil rights movement, Citizens Trust Bank opened its first branch, the Westside Branch, to support the local community.
• In 2023, Citizens Trust Bank completed the acquisition of the Peoples Bank branch in Lithonia, Georgia, expanding its footprint in the Atlanta region.
• In 2026, Cynthia N. Day was named the first woman to be the permanent sitting CEO of Citizens Bancshares Corporation and Citizens Trust Bank.

What’s next

Citizens Trust Bank plans to continue its growth and community-focused approach, with a focus on expanding its customer base and supporting small businesses in the Atlanta region.