CSB Bancshares Inc. and Burton Bancshares Inc. recently announced that an agreement for the merger of Burton-based Burton State Bank into Sommerville-based Citizens State Bank was signed in mid-August by the boards of both entities. The transaction is expected to close before the end of the year. Upon completion, Burton State Bank will become the seventh branch of Citizens State Bank.
“The infrastructure and culture that has been built at Citizens State Bank will enable customers to access an expanded product offering and newer technology,” says Aaron Flencher, president and CEO of Citizens State Bank. “Customers will still receive the quality customer service and local decision-making they have become accustomed to at Burton State Bank.”
“I feel [that Burton State Bank’s] customer base is much like ours and our commitment to Burton will be beneficial to everyone in their market,” says Ben Flencher, chairman of Citizens State Bank. “Many positive things are happening in Burton, and we expect this banking merger to add to the list.”
Citizens State Bank was chartered in 1925 and has approximately $840 million in total assets, while Burton State Bank has been in business since 1906 and currently has $86 million in total assets.
“Joining the Citizens State Bank family will allow our staff the opportunity to spend more time focusing on the individual needs of our customers while also improving upon the products and services we currently offer,” says Linda Blacklock, president and CEO of Burton State Bank. “Our customers will still be able to work with the same people they have come to know and trust, but will also benefit from the flexibility of additional bank locations and services.”
“The banking industry has changed so much during these past years and it has become increasingly difficult for a bank of our size to comply with all of the regulatory, information technology and cybersecurity requirements,” says E.J. Muehlbrad, who currently serves as chairman of the board for Burton Bancshares Inc. and has been associated with Burton State Bank for more than 55 years. “The agreement with CSB Bancshares Inc. allows our employees to focus on providing customer service at the highest level.”