Citizens Bank Puts Phil Baldwin To Work On Growth

by George Waldon  on Monday, Dec. 9, 2013 12:00 am  

He did, and his family’s foundational support has remained a constant during the 60-years-and-counting history of Citizens Bank.

His integrated poultry business had grown to 800 employees when it was sold to Banquet Foods in 1969. Southerland, who died in 1981, served as president and later chairman of the board at Citizens.

Looking to Grow

Citizens Bank isn’t the first Batesville bank to look afield for growth opportunities.

First Community Bank, a 1997 de novo effort, made a geographic leap to enter southwest Missouri with the purchase of Goodman State Bank, a $13.2 million-asset lender.

That 2008 move into the Show-Me State helped First Community grow from total assets of $481 million at the time to $812 million today.

Citizens Bank and First Community are the dominant financial institutions in Batesville. Their deposit market shares in Independence County are 45 percent for Citizens and 34.5 percent for First Community.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Should the alcohol amendment remain on the ballot?