October 27, 2010
Citizens Bancorp announced operating results for the third quarter of 2010. ... read more |
|
August 5, 2010
Citizens Bancorp announced operating results for the second quarter of 2010. ... read more |
|
June 7, 2010
Citizens Bancorp announced today that Reynold “Rey” C. Johnson, III, of Pacific Land Enterprises, and Kenneth “Ken” J. Meyers, of R.W. Baird & Co. were appointed directors. ... read more |
|
April 22, 2010
Citizens Bancorp announced operating results before provision for loss, real estate owned expenses, and taxes for the three month period ended March 31, 2010 of $1.0 million. ... read more |
|
February 18, 2010
Citizens Bank has expanded its Central Operations Center, making room for it to lay the early groundwork for establishing a SBA Lending Division ... read more |
|
February 17, 2010
24-year banking veteran Kevin Rappleye has joined the Bank as Senior Vice President and SBA Government Guaranteed Business Development Officer. ... read more |
|
February 16, 2010
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced operating results for the three month period ended December 31, 2009, and for the twelve month period ended December 31, 2009. ... read more |
|
October 21, 2009
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced net income for the quarter ended September 30, 2009 of $363 thousand, compared to net income of $176 thousand for the same period in 2008, an increase of $187 thousand, or 106%. ... read more |
|
October 20, 2009
Michael Behn and Phillip Campbell have been promoted to Executive Vice Presidents. ... read more |
|
September 10, 2009
Citizens Bank of Northern California announced financial results for the second quarter 2009, and restated financial results for the three months ended March 31, 2009 and twelve months ended December 31, 2008. ... read more |
|
July 31, 2009
36-year banking veteran Gary Gall has been named President / Chief Executive Officer of Citizens Bancorp and subsidiary, Citizens Bank of Northern California. ... read more |
|
July 14, 2009
Citizens Bank of Northern California announced today that the Bank will honor State of California Registered Warrants, or “IOU’s” for its customers. ... read more |
|
June 17, 2009
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced it will restate its December 31, 2008 audited consolidated financial statements ... read more |
|
May 18, 2009
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the three month period ended March 31, 2009. read more |
|
March 6, 2009
Citizens Bancorp Reports Solid Loan and Deposit Growth with 4th Quarter and Year End Financial Results. read more |
|
December 23, 2008
Citizens Bancorp Receives $10.4 Million Investment from the U.S. Treasury’s Capital Purchase Program. read more |
|
December 12, 2008
Citizens Bank provides peace of mind to its customers by committing to the FDIC’s Transaction Account Guarantee Program. read more |
|
November 19, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the three and nine months ended September 30, 2008. read more |
|
October 6, 2008
Citizens Bank announced today that Josh McGovern has been promoted to Vice President and Branch Manager of the Olympia Park branch. read more |
|
August 12, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the three and six months ended June 30, 2008. read more |
|
May 19, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced that its Board of Directors approved the declaration of a 5% stock dividend. read more |
|
April 30, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the quarter ended March 31, 2008. read more |
|
March 6, 2008
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the twelve month period ended December 31, 2007. read more |
|
November 1, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the quarter ended September 30, 2007. read more |
|
August 1, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the quarter ended June 30, 2007. read more |
|
May 8, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, today announced that its Board of Directors approved the declaration of a 5% stock dividend. read more |
|
April 26, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced financial results for the three month period ended March 31, 2007. read more |
|
March 12, 2007
Citizens Bancorp, the holding company of Citizens Bank of Northern California, announced record earnings for the twelve month period ended December 31, 2006. read more |
|
March 8, 2007
Citizens Bank of Northern California announced the hiring of Julie Frenzel as Vice President, Relationship Officer for its Penn Valley Branch. read more |
|
January 10, 2007
Citizens Bank Enhances Its Online Banking Service With a Multi-Factor Authentication Security System. read more |
|
January 2, 2007
Citizens Bank to Open Downtown Auburn Branch on January 9, 2007. read more |
|
October 31, 2006
Citizens Bancorp Announces 3rd Quarter and YTD Earnings. read more |
|
August 24, 2006
Citizens Bank to Open Truckee Branch Soon. read more |
|
July 28, 2006
Citizens Bancorp Announces 2nd Quarter Earnings. read more |
|
July 7, 2006
Citizens Bancorp Announces New Capital for Citizens Bank. read more |
|
May 15, 2006
Citizens Bancorp Announces Stock Dividend . read more |
|
May 9, 2006
Citizens Bancorp Stock Now Listed on the OTCBB . read more |
|
April 21, 2006
Citizens Bancorp Announces Record 1st Quarter Earnings . read more |
|
April 20, 2006
Citizens Bank of Nevada County Announces Name Change . read more |
|
February 9, 2006
Citizens Bancorp Announces Record 4th Quarter Earnings . read more |
|
January 27, 2006
Citizens Bank Announces Plan for New Truckee Branch . read more |
|
December 2, 2005
Citizens Bank Announces Plan for New Downtown Auburn Branch . read more |
|
November 8, 2005
Citizens Bank Names New Directors . read more |
|
October 20, 2005
Citizens Bancorp Announces Record 3rd Quarter Earnings . read more |
|
August 31, 2005
Citizens Bancorp Announces Capital Plans . read more |
|
May 16, 2005
Citizens Bancorp Announces Stock Dividend . read more |
|
|
|
February 18, 2010
Citizens Bank of Northern California / Citizens Bancorp Raises Capital, Expands Departments and Enters into Agreement
Nevada City, California, February 18, 2010. Gary D. Gall, President & CEO of Citizens Bank of Northern California (“Citizens Bank” or “Bank”), announced today that the Bank has expanded its Central Operations Center and moved it to downtown Grass Valley making room for the Bank to lay the early groundwork for establishing a Small Business Administration (“SBA”) Lending Division at their Nevada City Loan Operations Center. These moves are part of several strategies the Bank has put into motion to position the Bank for the future. These strategies will enable the Bank to provide continued excellent service, enhance its menu of financial products offered, increase efficiency and improve financial performance.
“We are known for our stellar customer service and we’re convinced that our customers who visit us via telephone or internet will be even more pleased with our services once the expansion is complete.” said Gary Gall. He added “When you call our Bank, you reach a live person, right here in your community. The Bank provides both telephone support locally as well as full E-Service including on-line banking, cash management, remote deposit and mobile banking services. The Bank’s core deposit growth has been excellent.”
The Bank’s move to broaden its SBA lending and seek “Preferred Lender” status is part of a long-term strategy in providing loans to small business, both real estate and non-real estate related, under a government guaranteed program. Gall notes: “We’ve been an SBA lender since the very beginning in 1995 and we anticipate a faster approval process inherent with the “Preferred” status. We are pleased to have the expertise of Kevin Rappleye who is heading the division with a focus on increasing our loan support to owners of small businesses.”
During December, 2009, Citizens Bancorp (OTCBB: CZNB) raised nearly $1.6 million in capital from a private placement stock sale in order to strengthen the bank’s balance sheet and capital position. A majority of the funds were raised from directors, officers and other charter members of the Board. Citizens Bancorp will implement a shareholder rights offering this April to raise a minimum of $6 million in new capital.
CZNB and the Bank also announced that they have voluntarily entered into formal agreements with their respective regulators arising out of issues identified during the Bank’s routine examinations in May 2009. These agreements, otherwise known as “Consent Orders,” provide that the Bank and CZNB will continue to take actions to strengthen and restore the Bank’s financial condition and operations.
The agreements commit the Bank and CZNB to continue with their efforts to increase capital levels, improve asset quality, and enhance compliance oversight and training. Gall stated, “The Board of Directors and new Senior Management team have been proactively implementing policies, procedures, and strategies to address the issues noted in the examinations to assure compliance with the provisions of the agreements. Gall further noted, “The decline in real estate valuations have taken a toll on banks and investors not only in our market area but nationwide. We look forward to raising new capital in the Spring of 2010 in order to comply with the consent agreements, position the Bank for growth, and to prepare for the future repayment of TARP funds.”
Citizens Bank, founded in 1995, is celebrating its 15th anniversary and is pleased to recognize those employees who have been with the bank since opening day. Citizens Bank is headquartered in Nevada City and has seven locations located in Nevada and Placer Counties.
This release may contain certain forward-looking statements that are based on management’s current expectations regarding economic, legislative, and regulatory issues that may impact the Company’s earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe”, “expect”, “intend”, “estimate” or words of similar meaning, or future or conditional verbs such as “will”, “would”, “should”, “could” or “may”. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank’s operations, pricing, products and services. These and other important factors are detailed in various Federal Deposit Insurance Corporation filings made periodically by the Bank, copies of which are available from the Bank without charge. The Company or the Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. |
