Citizens Holding completed merger with Charter Bank in a $20m deal.

Citizens Holding, the parent company of The Citizens Bank of Philadelphia has completed its merger with Charter Bank in a $20m deal. The combined company now has approximately $1.2bn in total assets with 28 offices spread throughout Mississippi. Financial terms were not disclosed. Charter has 4 locations throughout the Mississippi Gulf Coast region. Charter had approximately $154m in total assets, approximately $104m in loans and $128m in total deposits. “This merger expands our presence on the Mississippi Gulf Coast and we also believe this merger will benefit both Charter’s and our existing clients with expanded locations, services and products. We look forward to building an even stronger community bank with Charter being a part of the Citizens Bank family,” Gregory L. McKee, Citizens President & Chief Executive Officer.