Citizens Bancorp Investment, Inc. completed the acquisition of American Bancshares Corp. (Livingston, TN).

Citizens Bancorp Investment, Inc. entered into a definitive agreement to acquire American Bancshares Corp. (Livingston, TN) on July 9, 2020. On the close of the transaction, Marty Maynord will continue to serve as Chief Executive Officer of American Bank & Trust until its merger into Citizens Bank. Ryan Smith will continue to serve as President of American Bank & Trust until the bank merger. Following the merger of American Bank & Trust and Citizens Bank, Marty Maynord and Ryan Smith will each serve as Executive Vice Presidents of Citizens Bank. After the acquisition American Bank & Trust will become a part of Citizens Bank. American Bank & Trust’s offices in Livingston and Cookeville will continue to operate under their current name for a period of time. The transaction remains subject to customary closing conditions, including receipt of regulatory approvals and approval by American shareholders The boards of directors of Citizens Bank and American Bank & Trust have unanimously approved the transaction. The transaction has been approved by the Federal Reserve on October 8, 2020. The closing of the transaction is expected to occur in the fourth quarter of 2020. The merger is expected to occur in the second quarter of 2021. Stephens Inc. acted as a financial advisor and Butler Snow LLP served as a legal advisor for Citizens. LLC acted as a financial advisor and Bone McAllester Norton PLLC served as a legal advisor for American. Olsen Palmer LLC also issued a fairness opinion to American Bancshares Corp. (Livingston, TN). Citizens Bancorp Investment, Inc. completed the acquisition of American Bancshares Corp. (Livingston, TN) on December 1, 2020.