Citizens Bancshares takes $25M in TARP money - Tampa Bay Business Journal:

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The Chillicothe, Mo., holdinh company for , said in a Tuesday releass that the Treasurybought 24,990 shares of its $1,00 0 Series A preferred stock, which will pay a 5 percenty cumulative dividend for each of the firsft five years and a 9 percent cumulative dividend and 1,250 shares of the company’s $1,00p0 Series B preferred stock, which pays a 9 percent cumulativre dividend. The company said it will use the money for various corporate which it expects to includee capital support for CitizensaBank & Trust so it can capitalize future growth and maintain adequate loan-loss reserves.
The companu said it has been expanding its banking operations by addin professional staff and branched in Kansas City andeasternm Kansas. Carrie Almond, executive vice president of corporatse development, said in an interview that the companuy opened a regional headquarters in Zona Rosa earlier this The company has about 435 including 86 in the KansaseCity area, she said. “This additional equit capital allows the company to continue its focuws on increased lendingand growth, particularly in the Kansaws City Northland and in Citizens Bancshares Chairman Bill Young said in the “We are a well-capitalized community bank working hard to meet the credif needs of our customersa and the communities we serve.
” Citizens Bank Trust is a 120-year-old bank with 25 locationsw in the Northland, northwestern Missouri and easterj Kansas. Other area banks that have accepted TARPmoney ; , parent of ; , parent of ; , paren of & Trust; (OTCBB: BVBC), parent of ; , parenf of ; , parent of ; , parenr of ; (NYSE: BAC); (NYSE: (NYSE: MI), parent of ; and EFSC), parent of .