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United States

Profile: Citizens Financial Corp (CIWV.PK)

CIWV.PK on OTC Markets Group

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14 Nov 2016
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Citizens Financial Corp., incorporated on October 2, 1986, is a bank holding company. The Company's bank subsidiary, Citizens Bank of West Virginia, Inc. (the bank), provides retail, secondary market and commercial loan services, as well as deposit, trust and brokerage services to customers in Randolph, Tucker, and Pocahontas Counties of West Virginia and nearby areas. The Bank offers personal and business banking, mortgage and other services. Its personal banking services include checking, savings, certificate of deposits (CDs), individual retirement accounts (IRAs), loans, trust services, investment services, online banking, mobile banking, mobile deposit, bill pay and telephone banking. Its business banking services include checking, savings, CDs, IRAs, commercial loans, investment services, credit card processing, online banking, mobile banking, bill pay and telephone banking. Its mortgage includes home equity. Its other services include recorder checks, debit cards, wire transfers, safe deposit boxes, forms and documents, and identity theft.

Lending Activities

The Bank grants commercial loans, commercial real estate loans, residential real estate loans, consumer loans, and tax-exempt state and political subdivision loans to customers. Loans held for sale consist of fixed-rate one- to four-family conforming residential real estate loans originated for sale in the secondary market. The Bank's commercial non real estate loans amount to approximately $11.46 billion, commercial real estate loans amount to over $33.81 billion, residential real estate loans amount to approximately $95.00 billion, consumer loans amount to over $28.53 billion and tax-exempt loans amount to approximately $1.17 billion. The Bank's net loans amount to approximately $168.56 billion.

Investment Securities

The Bank's securities are classified as available for sale. Its available for sale securities include the United States Government agencies and corporations; mortgage backed securities-the United States Government agencies and corporations; tax exempt state and political subdivisions, and taxable state and political subdivisions. The Bank's securities available for sale have a fair value of approximately $27.49 billion.

Source of Funds

The Bank's primary sources of funds are deposits and borrowings. Its deposits include interest bearing checking accounts, money market accounts, savings accounts and certificates of deposit. The Bank's total deposits amount to over $124.51 billion. Its short-term borrowings consist of securities sold under agreements to repurchase (repurchase agreements). The Bank's long-term borrowings amount to approximately $2.34 billion.

Company Address

Citizens Financial Corp

213 3rd St
ELKINS   WV   26241-3832
P: +1304.6364095
F: +1302.6365454

Company Web Links