Citizens Savings Bank and Trust Appoints New Board Members

Paul Luter, left and Jim Schmitz

NASHVILLE, TN — Citizens Savings Bank and Trust, the oldest continuously operating minority-owned bank in the United States, has appointed two new directors to its board.  Paul Luter and Jim Schmitz have joined both the board of the bank and the holding company.

Mr. Luter is an accomplished accounting executive, most recently serving as Director-Interal Audit for LKQ Corporation.  Mr. Schmitz recently retired from his position as president of Regions Bank’s Middle Tennessee area.  Both are excited about the future of Citizens.  Mr. Luter observed, “I have been particularly impressed with CEO Sergio Ora, the current bank leadership team, and the improvement they have brought to the bank in the last several months.”  For his part, Mr. Schmitz notes that the bank is CDFI certified, meaning that its mission is to expand economic opportunity for individuals and businesses in economically disadvantaged areas.  He sees the bank’s potential, saying, “Citizens is uniquely positioned to work with businesses and other banks to help bridge the income equity gap in the Nashville community by helping all citizens reap benefit from our strong local economy.”

Chairman of Citizens’ board attorney Richard Manson is enthusiastic, “Paul and Jim bring expertise and leadership that broadens the strength of our board, the institution, and its leadership.  We have a bright future.”

Citizens Saving Bank and Trust, headquartered in North Nashville, is a certified CDFI financial institution dedicated to expanding economic opportunity to economically disadvantaged people, businesses, and communities by providing access to products, services, and investments.  CDFI certification, administered by the U.S. Treasury Department’s CDFI Fund, indicates the bank has devoted at least 60% of its total lending, services, and other activities to benefit low income communities.

As a CDFI Citizens Savings Bank & Trust Co. puts the community first and values local, economic growth.  Citizens Bank – Committed to Excellence & Execution

Citizens Savings Bank and Trust Company provides friendly and personal service to individuals and businesses. We’re an equal opportunity employer with 30 +full-time employees, five convenient offices and over $100 million in total assets. Citizens Savings Bank and Trust Company is a privately owned company, and has more than 200 stockholders.

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