Joe Bruce, President & CEO of Citizens Bank of Blount County, declared a cash dividend for 2008 totaling $1,263,308, which was paid to the bank’s shareholders on Dec.1. “While 2008 earnings will be lower then 2007’s record-breaking earnings, CBBC continues our historical practice of profitably and following sound banking principles,” Bruce states. “The bank more than doubles the regulatory requirement for capital, with strong net worth in excess of $52.5 million.”
According to the 2008 Tennessee Bank Performance Report, CBBC ranked 3rd out of 181 Tennessean banks. A local bank since 1973, CBBC recently opened its Heritage Branch located on Lamar Alexander Pkwy., 2 miles east of Blount Memorial Hospital. The branch is CBBC’s ninth location in Blount County.