When The Citizens Bank began operations in Olanta more than seven decades ago, it had only two employees and $25,000 in capital stock.
Opened March 4, 1943, the bank operated from a building leased for only $15 per month at Main and Magnolia streets.
The bank prospered, and in 1947 moved into its new building adjacent to Olanta Hardwhere, where it remained until 1980. At that time a free-standing building was constructed at 124 E. Main St., complete with drive-thru teller service.
Entirely renovated in 2004, this location now houses The Citizens Bank’s corporate offices, as well as its Olanta branch.
The bank has experienced steady growth throughout the years, with an emphasis on customer service being its main mission. Its second branch was opened in 1957 in Turbeville. The 1960s and 70s were a time of establishing roots while growing the bank’s customer base.
During the 1980s, the bank purchased the assets of other financial institutions and opened branches in Lake City and Lynchburg. In 1988, its holding Company, Citizens Bancshares Corporation, was formed.
The 1990s brought growth in terms of assets, deposits, loans and profits. Offices were opened in Sumter, Pawleys Island and Scranton. By 2000, numerous ATMs were installed, the Timmonsville branch opened, and a secondary Mortgage Department began operating from the Sumter location.
Core operations were moved in 2001 from Olanta to a free-standing operations center in Turbeville.
By 2007, two branches had opened in Florence, while one opened in St. George. That year, The Citizens Bank merged with Johnsonville State Bank and Pamplico Bank and Trust. Three years later, a Loan Production Office opened in Kingstree for additional growth potential.
In August 2011, a branch opened in Georgetown, and in April 2013, the Kingstree Loan Production Office converted and moved into a full-service branch.
Though many banks felt the economic decline of 2009, The Citizens Bank has remained profitable. The bank now employs more than 128 employees at 15 branches and has numerous ATMs and its operations center.
Maintaining the customer service emphasis upon which it was founded, the bank offers a full array of the latest financial products and services, promoting its company slogan: “Solid Traditions. Smart Solutions.”
