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Atlanta-based Citizens Trust closes First-Citizens branch deal


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Atlanta-based Citizens Trust closes First-Citizens branch deal

Atlanta-based Citizens Trust Bank has completed its acquisition of certain assets and the consumer and business deposit relationships of the First-Citizens Bank & Trust Co. branch on Lee Street, in Atlanta.

The acquisition did not include the physical branch, which was shuttered Aug. 4. Approximately 5,000 new customers were transferred with the deal.

Citizens Trust, a subsidiary of Citizens Bancshares Corp., had $407.0 million in assets as of June 30. Raleigh, N.C.-based First-Citizens, a First Citizens BancShares Inc. subsidiary, had $34.60 billion in assets.