ATLANTA, Aug. 8, 2005 (PRIMEZONE) -- Citizens Bancshares Corporation (OTCBB:CZBS), parent company of Citizens Trust Bank (CTB), announced today that Cynthia Day has been named Senior Executive Vice President and Chief Operating Officer. Ms. Day was Chief Operating Officer for Citizens Federal Savings Bank of Birmingham, Alabama and joined Citizens Trust Bank as Executive Vice President, Director of Management Services after Citizens Trust Bank acquired Citizens Federal Savings Bank in 2003. This appointment makes Ms. Day the first female Chief Operating Officer for Citizens Trust Bank in its 84 year history.
Ms. Day will lead the company's efforts with business development in an effort to grow both loans and deposits in CTB's marketing area. As chief operating officer, Ms. Day will also be responsible for CTB's financial accounting, consumer banking, marketing, compliance, human resources and bank operations.
"Ms. Day's record of achievement in community banking will help Citizens Trust Bank achieve its strategic goal of broadly expanding its business across Georgia and Alabama," commented James E. Young, Citizens Bancshares' President and CEO. "I am extremely pleased Ms. Day accepted this position as Chief Operating Officer and look forward to working with her in this new and exciting role."
According to Ms. Day, "Citizens Trust Bank is a community bank poised for growth with competitive products and service offerings supported by capable, energetic and hardworking people who want to succeed. With the right people and the right products, we can make a tremendous impact in the community and increase shareholder value. I am excited about the opportunity and look forward to our team not only exceeding CTB's current position as the largest African-American owned and managed financial institution in Georgia, but being the BEST community bank in the Southeast."
Ms. Day is a native of Fayette, Alabama and a graduate of the University of Alabama where she received a B.S. in Business Administration and Accounting. She began her professional career with KPMG and rapidly rose through the ranks to the position of audit manager. It was during her tenure at KPMG that Ms. Day earned her certificate as a Certified Professional Accountant (CPA). In 1993, Ms. Day joined Citizens Federal Savings Bank as controller and was quickly promoted to the role of Chief Operating Officer where she provided primary guidance and direction of key elements of the bank's operations. Ms. Day is married to James E. Day with one daughter, Cydney (2) and currently resides in Smyrna, Georgia.
About Citizens Bancshares Corporation
Citizens Bancshares Corporation is the parent company of Citizens Trust Bank (CTB). With 84 years of history, CTB has assets of more than $330 million, nine offices throughout metropolitan Atlanta and Columbus, Georgia as well as one branch in Birmingham, and Eutaw, Alabama. As a leader in the financial services industry, Citizens Trust Bank prides itself on offering a full range of quality banking products and services. Since 1921, the Bank has continued to fulfill its mission to promote financial stability and business development, stress the principles of thrift, and make home ownership a reality. Today, CTB remains dedicated to neighborhood and small business growth, development and advancement through community reinvestment. Citizens Bancshares Corporation, offers its common stock over-the-counter to the general public under the trading symbol CZBS. For more information please visit Citizens Trust Bank on the web at http://www.CTBconnect.com