Charter Bank to be sold to Citizens Bank

One Mississippi bank is buying another for $20 million in stock.

Citizens Holding Co., the parent bank of the Citizens Bank of Philadelphia, announced today it’s buying Charter Bank of Biloxi. Charter has four branches on the Gulf Coast; Citizens has two branches in Biloxi. The company says this buyout will increase their market share in our area, increasing their assets from $161 million to $1.2 billion. The deal still needs to be approved, but the purchase is expected to be complete by the end of the year.

For more information visit https://www.citizensbank.com/HomePage.aspx