About Citizens Bank of Lafayette
Citizens Bank of Lafayette, Tennessee, was organized under state charter on April 10, 1909. M.S. Freeman was elected as the bank’s first president and W.J. Hirring was elected vice-president. The 83 original shareholders invested $12,000.
Citizens Bank opened for business on July 1, 1909. The Board of Directors met on November 24, 1909 and elected William Parker to serve as Cashier and Chief Executive Officer. Mr. Parker served as CEO from 1909 until 1960.
The bank continued to prosper and on October 17, 1931, a contract was signed for Citizens Bank to acquire the assets and liabilities of Farmers and Merchants Bank and Trust Company. This protected depositors from any loss during the Great Depression. During the bank’s early years, there were many who served as Chairman of the Board including M. S. Freeman, P. East, W. A. Smith, W. C. Gregory, W. J. Sullivan, and A. W. Jenkins…Continue reading about Citizens Bank of Lafayette here
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