Citizens Federal Savings Bank: Difference between revisions
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'''Citizens Federal Savings Bank''' was a privately-held bank founded in [[1956]] by [[A. G. Gaston]]. | '''Citizens Federal Savings Bank''' (formerly '''Citizens Federal Savings & Loan''') was a privately-held bank founded in [[1956]] by [[A. G. Gaston]] and chartered under the Federal Home Loan Bank System. It was launched with capital of $350,000, but by [[1967]] Gaston reported holdings over $9 million in assets and 13,000 shareholders. That year the association paid out $2,108,604 in dividends. | ||
In [[1968]] Gaston bought and renovated the former [[ | In [[1968]] Gaston was still president and chairman. [[Arthur Shores]] was vice-president and general counsel. [[John Drew]], [[Afton Lee]], [[B. M. Montgomery]] and [[John Nixon]] were also vice-presidents, and [[Louis Willie]] was secretary and treasurer. That year, Gaston bought and renovated the former [[The Parisian|Calder Building]] at [[3rd Avenue North]] and [[17th Street North|17th Street]] to serve as the bank's headquarters office. | ||
[[Bunny Stokes | The bank also had branches on [[Bessemer Road]] and in Eutaw (Greene County). | ||
[[Bunny Stokes]] was appointed chairman and CEO by Gaston in [[1990]]. In [[2001]] the bank reported assets of $108 million. | |||
In May [[2002]] Ciizens Federal was acquired by Atlanta, Georgia's [[Citizens Trust Bank]] for $10 million in cash. Stokes became president of the combined bank's Alabama division until his retirement in [[2004]]. | In May [[2002]] Ciizens Federal was acquired by Atlanta, Georgia's [[Citizens Trust Bank]] for $10 million in cash. Stokes became president of the combined bank's Alabama division until his retirement in [[2004]]. | ||
== References == | == References == | ||
* Zganjar, Leslie (May 31, 2002) "Atlanta bank buying Citizens Federal." | * Beiman, Irving (January 4, 1968) "[http://bplonline.cdmhost.com/cdm/ref/collection/p4017coll2/id/1556 Gaston acquires Calder building]" {{BN}} - via [[Birmingham Public Library]] Digital Collections | ||
* Zganjar, Leslie (May 31, 2002) "Atlanta bank buying Citizens Federal." {{BBJ}} | |||
[[Category:Defunct banks]] | [[Category:Defunct banks]] | ||
[[Category: | [[Category:17th Street North]] | ||
[[Category:3rd Avenue North]] | [[Category:3rd Avenue North]] | ||
[[Category:A. G. Gaston businesses]] | |||
[[Category:1956 establishments]] | |||
[[Category:2003 disestablishments]] | |||
[[Category:Parisian Building]] | |||
Latest revision as of 17:12, 21 November 2021
Citizens Federal Savings Bank (formerly Citizens Federal Savings & Loan) was a privately-held bank founded in 1956 by A. G. Gaston and chartered under the Federal Home Loan Bank System. It was launched with capital of $350,000, but by 1967 Gaston reported holdings over $9 million in assets and 13,000 shareholders. That year the association paid out $2,108,604 in dividends.
In 1968 Gaston was still president and chairman. Arthur Shores was vice-president and general counsel. John Drew, Afton Lee, B. M. Montgomery and John Nixon were also vice-presidents, and Louis Willie was secretary and treasurer. That year, Gaston bought and renovated the former Calder Building at 3rd Avenue North and 17th Street to serve as the bank's headquarters office.
The bank also had branches on Bessemer Road and in Eutaw (Greene County).
Bunny Stokes was appointed chairman and CEO by Gaston in 1990. In 2001 the bank reported assets of $108 million.
In May 2002 Ciizens Federal was acquired by Atlanta, Georgia's Citizens Trust Bank for $10 million in cash. Stokes became president of the combined bank's Alabama division until his retirement in 2004.
References
- Beiman, Irving (January 4, 1968) "Gaston acquires Calder building" The Birmingham News - via Birmingham Public Library Digital Collections
- Zganjar, Leslie (May 31, 2002) "Atlanta bank buying Citizens Federal." Birmingham Business Journal