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Citizens Holding Co. completes acquisition of Charter Bank

In Mississippi, Citizens Holding Co., the parent company of Citizens Bank of Philadelphia, has completed its acquisition of Charter Bank, effective Oct. 1.

The combined company has about $1.2 billion in total assets with 28 offices spread throughout Mississippi.

As of June 30, Charter had about $154 million in total assets, roughly $104 million in loans and $128 million in total deposits.

In connection with the deal's completion, former Charter Bank President and CEO Gregory Cronin was appointed to the board of Citizens Holding and the banking unit as a class I director, effective Oct. 1.