Sergio Ora

NASHVILLE, TN — Citizens Savings Bank and Trust Co. (Citizens Bank) announced today $5.85M in investment from four financial partners – Wells Fargo, Bank of America, First Horizon Bank, and Apex Bank. Citizens Bank has served the Nashville community since 1904 and is the oldest continuously operating African American-owned bank in the United States.

“For more than 117 years, Citizens Bank has played an important role in serving the Nashville community, including providing essential funding opportunities for underserved residents, investing in community revitalization projects, and supporting minority-owned businesses,” said Sergio Ora, President and CEO of Citizens Bank.

Earlier this year, Citizens Bank was selected by Wells Fargo as part of the financial institution’s $50 million capital investment in African American Minority Depository Institutions (MDIs). In addition, Citizens Bank was chosen by Bank of America as the recipient of one of seven equity investments, part of the company’s $1 billion, four-year commitment to advance racial equality and economic opportunity through the support of MDIs. MDIs play a key part in sustaining the long-term growth of minority-owned businesses and supporting the health and prosperity of small and underserved communities. And more recently, Citizens Bank received investments from Apex Bank and First Horizon Bank.

“The value of entities like Citizens Bank has been prominent in minority communities, for years,” continued Ora. “We appreciate increased interest along with the commitment and financial support from our banking partners throughout the country, especially as we work together to ensure the long-term health and prosperity of minority populations as we continue to serve our community.”  

Citizens Bank was founded in 1904 by three prominent African American Nashville citizens – R.H. Boyd, Preston Taylor, and J.C. Napier. The institution was originally named the One-Cent Savings Bank to emphasize the importance of every customer, no matter their financial worth. 

In 1904, the One-Cent Savings Bank, now Citizens Savings Bank and Trust Company, became the first minority-owned bank in Tennessee. Now, Citizens Bank is the oldest, continuously operating, African American-owned bank in the United States and has been insured by the FDIC since 1934. With its strong roots in the community, a storied past and an eye toward the future, Citizens Bank takes pride in building up the community, giving those largely underserved in the community access to the financial services and education they need to thrive. The Bank currently has assets of $118M, deposits of $105M and equity of approximately $12.5M. Citizens maintains its corporate headquarters along with two full-service branches located in Nashville and Memphis. For additional information, please visit bankcbn.com