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Both bankers agreed and
brought together a core group of investors, who shared the same belief,
in the summer of 2000. By October of that same year they formed a
partnership called Community First Group.
They then began the task of
selling stock to fund this project, apply for a state bank charter from
the West Virginia Division of Banking and for a Federal Deposit
Insurance certificate, as well as buying land, building a building,
hiring a competent and experienced staff and everything else necessary
to operate a quality financial institution.
The W.Va. Division of
Banking approved and issued a bank charter to Citizens First
on March 12, 2001
and FDIC soon after approved an insurance certificate to insure
customers’ deposits.
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After breaking ground on the corner of
Washington St.
and Ritchie in the winter of 2001, Citizens First completed construction
on their main office building and data center at
601 Washington St., Ravenswood and opened its doors
July 25, 2001
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CFB Ravenswood Location |
The original staff of nine
had combined banking experience of over 100 years.
In response to
overwhelming demand for hometown service in southern Jackson County
Citizens opened an office at
103 Miller Dr.in Ripley July of 2002, just one year after the bank’s inception.
After two years of operation, Citizens First has grown to $47 million in
asset size and now employs 20 local people in two offices thanks to the
support of Jackson County
area customers.
Operating their own data center provides many conveniences for
customers. Citizens keeps later lobby hours for customers’
convenience, making it possible to make deposits until
4:00 pm
each day, unlike the
2:00
cutoff at most other banks. Customers also receive monthly checking
account statements much quicker after a statement cycle, which
commercial customers appreciate. All customers can balance their
checkbook within a day of the end their statement cycle in most cases.
Safekeeping boxes that customers can get access to by themselves, debit
cards, credit cards, phone banking as well as internet banking are also
products and services available at Citizens First, but with hometown
personal service.
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