Citizens Purchases White Oak State Bank

Brad Tidwell, President and CEO of Citizens National Bank (CNB), is pleased to announce that the bank has entered into a definitive agreement to purchase White Oak State Bank (WOSB), from First White Oak Banc Shares, Inc. in White Oak, Texas.   WOSB’s main bank is located at 1101 S. White Oak Road, with a full service branch located at 800 Gilmer Road in Longview. This transaction was approved by the boards of both banks and the sale will be complete prior to year end 2012, pending regulatory approval.

Recently celebrating 40 years, White Oak State Bank opened June 5, 1972, and was the ninth banking institution in Gregg County. It serves White Oak, Longview, Gladewater, Gilmer and the surrounding areas and was initially at the intersection of White Oak Road and Old U.S. 80 in a 3,350-square foot building.  In May 1980, a new 16,000 square foot two-story building was constructed at 1101 S. White Oak Road and in 2005 underwent a major remodel.  It still serves as their corporate headquarters and main bank.  Their Longview branch was opened in 1995.

Citizens National Bank is a locally owned, independent, community bank headquartered in Henderson, Texas and has been serving the families and businesses of East Texas since 1930.  The two White Oak State Bank branches will be CNB’s 20th and 21st branches.

Gina Moody Burton, Chairperson of White Oak State Bank said, “In an attempt to honor my Dad’s wishes, the Board sought out community banks that mirrored the values that he preached at White Oak State Bank for 30 plus years.  We believe in partnering with CNB we will be able to carry on his legacy.”  Burton also commented, “White Oak State Bank is looking forward to becoming a part of Citizens National Bank.  CNB will definitely be a positive force in the White Oak community just as White Oak State Bank has been the last 40 years.  We look forward to being a part of such a long standing, well respected Texas bank.”

Brad Tidwell, President and CEO of Citizens National Bank stated, “This is a very exciting time for Citizens National Bank and we are proud to have the opportunity to acquire such an outstanding bank.  Our plan is to continue with the excellent service the officers and employees of White Oak State Bank have offered for the last 40 years.”  Tidwell also said, “This acquisition gives CNB a tremendous opportunity to continue to expand our presence in Gregg County.  With the recently announced opening of our new 20,000 square foot branch in downtown Longview, CNB will now have six full service Gregg County locations to better serve this dynamic community.” 

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