Citizens State Bank Of Somerville Has Its Sixth Branch After Acquiring Burton State Bank

Photo courtesy of Citizens State Bank of Somerville of its new branch in Burton.
Photo courtesy of Citizens State Bank of Somerville of its new branch in Burton.

Somerville based Citizens State Bank (CSB) has opened its sixth branch location.

CSB officials announced completing the acquisition of Burton State Bank.

Burton joins CSB branch locations in Navasota, Brenham, Caldwell, Snook, and Deanville.

News release from Citizens State Bank of Somervile:

Citizens State Bank today announced the completion of its acquisition of Burton State Bank, effective December 3, 2021.

At 5:03 pm Friday, Citizens State Bank received all the necessary approvals from the FDIC, Texas Department of Banking, and the Federal Reserve to complete the acquisition of Burton State Bank.

Under the agreement dated August 12, 2021, all Burton State Bank employees remain employed by Citizens State Bank effective immediately.

“We are pleased to complete our acquisition of Burton State Bank and welcome their customers and employees to Citizens State Bank,” said Aaron Flencher, President and Chief Executive Officer. “Our two organizations share a commitment to exceptional customer service and dedication to our local communities that can now be amplified.”

The Burton location of Citizens State Bank opened its doors for operation today, Monday December 6th, 2021, with the same friendly faces customers and the community have come to know and trust.

Matt Stolz and Linda Blacklock will lead the Burton CSB location as Branch President and Branch Manager, respectively.

With the addition of Burton State Bank, Citizens State Bank has total assets of approximately $960 million.

Citizens State Bank received financial advisory services from Brent Standefer with Fenimore Kay & Harrison. Burton State Bank received financial advisory services from Sam Hays with Beard Kultgen Brophy Bostwick & Dickson, PLLC.

Cautionary Note Regarding Forward-Looking Statements This release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations, estimates and projections about Citizens State Bank’s and Burton State Bank’s businesses, beliefs of Citizens State Bank’s and Burton State Bank’s management and assumptions made by Citizens State Bank’s and Burton State Bank’s management. Any statement that does not describe historical or current facts is a forward-looking statement, including statements regarding the expected timing, completion and effects of the proposed transactions and Citizens State Bank’s and Burton State Bank’s expected financial results, prospects, targets, goals and outlook. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could,” or “may,” or by variations of such words or by similar expressions. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions (“Future Factors”) which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.