"Officers from Tri Counties Bank assisted in the opening of Citizens Bank branches Monday morning, as employees assured customers their accounts are safe and their checks will be honored."
"Tri Counties is in the process of buying Citizens after state and federal regulators determined last week Citizens could not raise enough capital to secure its loans. Tri Counties started taking over operations late Friday."
"'Everything they have done at (Citizens) Bank, it's completely the same,' said Tri Counties President and CEO Rick Smith. 'It's business as usual.'"
The rest of the article is here.
I was there no less than an hour ago making deposits. Everything was okey dokey.
Many of our friends worked at Citizens Bank, so this event cast a long shadow over our weekend. I saw a few of them around town this weekend, and we discussed the events of Friday. They confirmed what is generally known about the federal regulators. The feds come in on Friday night at closing and professionally make the change. They are very nice and create a merger atmosphere as opposed to a "take over," adversarial atmosphere.
On Saturday, one of our friends from Citizens Bank, in particular, was deeply distressed. You could just see it in this person's eyes, and I said a quick prayer for this person. Our community is truly saddened by the loss of our community bank, but Tri Counties will do a good job for us too, I am sure.
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