BATESVILLE – September 25, 2012 – The Citizens Bank has the twelfth largest Trust Department in Arkansas, according to a just-published Arkansas Business list, which was based on bank trust assets as of Dec. 31, 2011. Citizens Bank jumped up three spots from its No. 15 ranking the previous year.
All of the state’s institutions with trust assets larger than Citizens Bank serve multiple markets that are much larger than the communities served by Citizens Bank.
Arkansas Business reported that Citizens Bank leaped over Bank of Arkansas in Fayetteville, First Arkansas Bank & Trust in Jacksonville and Iberia Bank in Little Rock from the previous year’s list.
Citizens Bank’s trust assets totaled less than $20 million in 1994, when the bank turned over its Trust Department’s management to Robin Brock, who is now Senior Vice President and Chief Trust Officer.
The bank’s trust assets were listed at nearly $88.9 million at year-end 2011 byArkansas Business. Today, however, Brock reports her department’s assets exceed $135 million, which represents a nearly 600 percent increase in less than 20 years.
Citizens Bank was listed at 86 corporate trust accounts with more than $244.4 million in outstanding principal, a 32 percent increase from the $184.6 million in principal from 67 accounts reported by Arkansas Business at year-end 2010.
“Our progress reflects the confidence our customers have had in our department, which results from the stability and professionalism of our associates,” Brock said. “I am excited, too, by the fact that the current leadership of our bank understands the significance of trust services to the community and the importance of serving as a key partner on critical issues that directly impact the economic development of our area.”
“I am confident that so many governmental, corporate entities and individuals have come to Citizens Bank for their Trust needs because of the unmatched skills and abilities of Robin and her team,” said John Dews, President and Chief Executive Officer. “Our Trust Department boasts more than 70 years of combined Trust experience and well over 100 years total in banking. This adds value to our bank’s overall performance and provides financial security and services that our customers cannot get anywhere else.”
About The Citizens Bank
Citizens Bank of Batesville was established in 1953 by a group of local businessmen who shared a vision of creating a bank that would be committed to serving the working people of Batesville and Independence County. Today, Citizens Bank is Independence County’s largest financial institution by market share, and has expanded its service area to include Lawrence, Randolph, Sharp and Stone counties with 10 fully staffed financial centers.