ATLANTA, April 23 /PRNewswire/ -- Coca-Cola Enterprises Inc.
(NYSE: CCE) has signed an agreement with Citizens Trust Bank, the
largest minority-owned bank in the Southeast, and 24 other
minority-owned banks across the country to finance a revolving credit
facility of $26.5 million. According to James Young, Citizens Trust
Bank President and CEO, the agreement represents the first contract of
this magnitude with Citizens Trust Bank.
"Our new banking partners have worked diligently with us to create
a valuable new credit facility," says Vicki R. Palmer, senior vice
president, treasurer, and special assistant to the CEO of Coca-Cola
Enterprises. "We are pleased with this opportunity, and we expect that
the agreement will be advantageous both to our Company, our
communities, and the institutions that have made it possible."
Each bank is a member of the National Bankers Association (NBA),
founded in 1927 as the trade association for the nation's 103 minority
and women-owned banks. Member banks are owned by African-Americans,
Native-Americans, Hispanic-Americans, Asian-Americans, and women. An
NBA effort that began in 1980 has successfully established
relationships for members with treasury representatives of Fortune 500
corporations.
"Citizens Trust Bank is proud to have led this effort on behalf of
minority and women-owned banks that aim for increased visibility with
corporate America," said Young. "This opportunity speaks to each
bank's viability as a financial institution, and to the credibility of
the National Bankers Association as an organization whose mission is
being realized through the cooperation of forward-thinking companies
like Coca-Cola Enterprises."
The CCE agreement incorporates a diverse alliance. Participating
banks include: African-American owned banks - Citizens Trust Bank,
Atlanta, GA; Carver State Bank, Savannah, GA; Douglass National Bank,
Kansas City, KS; United Bank & Trust Company, New Orleans, LA; Boston
Bank of Commerce, Boston, MA; First America Bank, Jackson, MS;
Mechanics & Farmers Bank, Durham, NC; City National Bank of New
Jersey, Newark, NJ; South Carolina Community Bank, Columbia, SC;
Citizens Bank, Nashville, TN; Memphis First Community Bank, Memphis,
TN; Tri-State Bank of Memphis, Memphis, TN; Unity National Bank,
Houston, TX; Legacy Bank, Milwaukee, WI; and North Milwaukee State
Bank, Milwaukee, WI.
Participating Asian-American owned banks are General Bank, Los
Angeles, CA; International Bank of Chicago, Chicago, IL; and, Eastbank,
N.A., New York, NY.
Participating Hispanic American owned banks are Gulf Bank, Miami,
FL; United Americas Bank, Atlanta, GA; New York National Bank, Bronx,
NY; and, Falcon National Bank, Laredo, TX. Participating Native
American owned banks are American Bank of Baxter Springs, KS; First
National Bank & Trust Co., Shawnee, OK; and, First State Bank of
Porter, OK.
CTB currently has 11 branches in Fulton, DeKalb and Muscogee
Counties with a new location inside the new Mall at Stonecrest. With
$294 million in assets, CTB is the largest African-American-owned bank
in the Southeast and ranked third across the nation. Through its
parent company, Citizens Bancshares Corporation, CTB offers its common
stock over-the-counter to the general public under the trading symbol
CZBS. For more information please visit Citizens Trust Bank on the web
at
http://www.ctbconnect.com/ .
This news release contains forward-looking statements and comments
on market conditions and outlook. Any number of conditions may occur,
which would affect important factors that may materially change
expectations. These factors include, but are not limited to, customer
trading activity, changes in technology, shifts in competitive
patterns, decisions with regard to products and services, changes in
revenues and profits, and significant changes in the market
environment regionally or nationally.
Source: Citizens Trust Bank
Contact: Willard "Chuck" Lewis, +1-404-653-2815, or Erica Wright,
+1-404-653-2710, both of Citizens Trust Bank
Website:
http://www.ctbconnect.com/
###
