0001104659-12-032482.txt : 20120503 0001104659-12-032482.hdr.sgml : 20120503 20120503125146 ACCESSION NUMBER: 0001104659-12-032482 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120503 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120503 DATE AS OF CHANGE: 20120503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIZENS BANCSHARES CORP /GA/ CENTRAL INDEX KEY: 0000813640 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 581631302 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14913 FILM NUMBER: 12808620 BUSINESS ADDRESS: STREET 1: 75 PIEDMONT AVENUE NE STREET 2: P O BOX 4485 CITY: ATLANTA STATE: GA ZIP: 30302 BUSINESS PHONE: 4046595959 MAIL ADDRESS: STREET 1: P O BOX 4485 CITY: ATLANTA STATE: GA ZIP: 30303 8-K 1 a12-11190_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) May 3, 2012

 

Citizens Bancshares Corporation

(Exact name of registrant as specified in its charter)

 

Georgia

 

333-38509

 

58-1631302

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

75 Piedmont Avenue, NE, Atlanta, Georgia, USA

 

30303

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (404) 659-5959

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 8.01  Other Events

 

On May 3, 2012, Citizens Bancshares Corporation (the “Registrant”) issued a press release announcing its annual dividend payment for 2012.  A copy of the press release issued by the Registrant is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01  Financial Statements, Pro Forma Information, and Exhibits

 

Exhibit 99.1

 

Press Release of Registrant, dated May 3, 2012, announcing annual dividend payment for 2012.

 

Signature

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

CITIZENS BANCSHARES CORPORATION

 

 

 

 

By:

/s/ Cynthia N. Day

 

 

Cynthia N. Day

 

 

President and CEO

 

 

 

Dated:

May 3, 2012

 

 

 

 

2

 EX-99.1 2 a12-11190_1ex99d1.htm EX-99.1

Exhibit 99.1

 

FOR IMMEDIATE RELEASE
May 3, 2012

 

Citizens Bancshares Corporation Announces 2012 Dividend Payment

 

ATLANTA, May 3, 2012 /PRNewswire—FirstCall/ — Citizens Bancshares Corporation (OTC Bulletin Board: CZBS) (the “Company”), the parent company of Citizens Trust Bank (CTB), announced today it has received approval to pay its annual dividend on common stock of $0.08 per share, payable on May 10, 2012 to shareholders of record as of the close of business on April 13, 2012.

 

Cynthia N. Day, President and Chief Executive Officer, stated “We are pleased that we can continue to provide this return on investment to our shareholders and show appreciation for their continued support. The Company and its wholly-owned subsidiary Citizens Trust Bank remain well-capitalized and continue to be positioned to seize on future opportunities.”

 

Citizens Trust Bank prides itself on offering a full range of quality products and services throughout metropolitan Atlanta and Columbus, Georgia, and in Birmingham and Eutaw, Alabama.  Since its inception, the Bank has remained dedicated to the growth and development of communities through superior products and extraordinary service.  Through its parent company, Citizens Bancshares Corporation, the Bank offers its common stock over-the-counter to the general public under the trading symbol CZBS and can be found on the web at www.CTBconnect.com.

 

Certain statements in this news release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, such as a downturn in the economy, greater than expected noninterest expenses, volatile credit and financial markets, potential deterioration in real estate values, regulatory changes and excessive loan losses, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Contact:

 

Citizens Bancshares Corporation

Samuel J. Cox, Chief Financial Officer
(404) 575-8306

 

SOURCE: Citizens Bancshares Corporation