A historical overview of Citizens 1st Bank
Citizens 1st Bank was chartered in Rusk on April 6, 1920. During the past 80+ years, the bank has had only three presidents—B.
B. Perkins, E. R. Gregg, and the current President, James I. Perkins. Our current President has served since 1971 providing
stability and leadership for the bank.Throughout the years, Citizens 1st Bank has grown steadily, sometimes spectacularly,
but always with strength. When the bank completed its first day of business in 1920, it had deposits of $105,000 with capital
of $50,000. As of December 31, 2006, the assets of the bank were $604,595,843 with capital of $92,703,599, making
Citizens 1st Bank one of the safest banks in the United States.* Because of Citizens 1st Bank's conservative philosophy
and strong leadership, it was able to expand from its strong foundation in 1990 and 1991 with the purchase of four savings
and loan associations, giving it locations in Tyler (now it's home office), Nacogdoches and Jacksonville, along with the
original office in Rusk. Throughout the years Citizens 1st Bank has used the core principles of good customer service and
conservative business practices to become the bank it is today. Citizens 1st Bank is one of the highest rated banks in the
Nation by Sheshunoff Rating Services, Weiss Ratings, Inc., Bauer Financial Reports and Veribank Bank Rating Company. We are
proud of the communities we serve and welcome the opportunity to continue to serve today and into the future. * Weiss
Ratings, Inc., 2006 rating A+ Excellent for Safety, rated the safest large bank in Texas. |
