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Bank says even with change, all deposits are safe

POSTED: February 21, 2011 8:16 p.m.
Photo by Calli Arnold/

Notices on the doors of the Citizens Bank of Effingham branches inform customers of the changes taking place.

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Business for Citizens Bank of Effingham customers will continue close to usual, after the state’s Department of Banking and Finance closed the financial institution Friday.

The state appointed the Federal Deposit Insurance Corporation as receiver and the FDIC, to protect the bank’s depositors, entered into a purchase and assumption agreement with Albany’s HeritageBank of the South to assume all of the deposits of Citizens Bank.

All employees of Citizens Bank have become employees of HeritageBank of the South and positions are being evaluated. Workers are expected to begin placing temporary signs at the branches today, but permanent signs won’t be installed for several weeks.

For the complete story, see Tuesday's edition of the Effingham Herald.

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