CITIZENS TRI-COUNTY BANK. A HISTORY OF SERVICE AND GROWTH
Citizens Tri-County Bank was organized in 1972 as Citizens Bank, and received its bank charter in June of that same year. The new bank opened for business in October, 1972, with $ 500,000 in capital, initially operating in a trailer at the bank's current Main Office location in downtown Dunlap, Tennessee.
Organizers of the bank were: Elmer Studer, H. Glenn Barker, W.L. Rogers, Flavius Barker, Dr. Charles Graves, and Preston Cates.
Henry Phillips from Waynesboro, Tennessee, was hired as the bank's first Manager and CEO, and in the Spring of 1973, the bank moved from its trailer to a new building, where an Open House was held in May of that year. In 1980, William Broyles was hired as Manager and CEO, and in 1980, the bank's total assets were $ 7 million.
On January 1, 1983, L.A, Broomfield became the bank's Manager and CEO, and in October of that year, H. Glenn Barker was hired as President, Chairman and CEO. At that time, the bank's assets had reached $ 10 million dollars.
On May 24, 1984, Citizens Bank bought Bledsoe County Bank in Pikeville, Tennessee, and ended 1984 year with assets of $15 million dollars. The bank then changed its name to Citizens Bank of Dunlap and Pikeville. In 1992, the bank acquired three Nations Bank Grundy County, Tennessee locations, in Tracy City, Altamont, and Palmer, and the bank's name was changed to Citizens Tri-County Bank. The year 1992 ended with the bank having $ 68 million in assets.
The bank's Dunlap Main Office was re-modeled in 1993, and its size tripled. Citizens Tri-County Bank branched into Marion County, Tennessee, in 1994, with a new office in Whitwell, and in 1995, with its purchase of an Amsouth Bank office in South Pittsburg. At the close of 1995, the bank had $113 million dollars in assets. Continuing to expand, a new office in Jasper, Tennessee was constructed and opened in 1999. Year 2000 saw the bank branch into Hamilton County, Tennessee, opening a new office in Signal Mountain, and ending that year with assets of $ 202 million dollars.
In 2001, Citizens Tri-County Bank began construction on the Depot Office Centre adjacent to its Dunlap Main Office, completing the construction in 2002. The Centre is fully occupied, and currently houses several businesses, as well as some bank operations. Two more banks were purchased in Grundy County in 2002, one in Monteagle, the other in Tracy City. At the end of 2002, the bank's assets had increased to $ 277 million dollars. The year 2004 saw the addition of another new Hamilton County office, located in Soddy Daisy, and the bank finished 2004 with assets of $ 307 million dollars.
Another milestone in the bank's history occurred...
