Citizens Bancorp of Virginia Inc (CZBT)

Citizens Bancorp of Virginia, Inc. is a one-bank holding Company formed on December 18, 2003. The Company conducts the general business of a commercial bank. The Company's mainly trade areas are in the Virginia counties of Nottoway, Amelia, Prince Edward, Chesterfield, Mecklenburg and the City of Colonial Heights. The Company offers traditional lending and deposit products to businesses and individuals. The Company is the sole shareholder of its only subsidiary, Citizens Bank and Trust Company (Bank). In September 1995, the Bank became a member of the Federal Home Loan Bank of Atlanta. The Company's mainly activity is retail and commercial banking through its sole subsidiary - the Bank. Financial services include commercial and consumer demand and time deposit accounts, real estate, commercial and consumer loans, online internet banking, 24-hour ATM network, brokerage services, safe deposit boxes, wire transfer services and other miscellaneous services incidental to the operation of a commercial bank. The Bank also acts as an agent for Visa. The Bank offers a full range of short to medium term commercial and consumer loans. Commercial loans include both secured and unsecured loans for working capital, business expansion and purchase of equipment and machinery. Consumer loans might include secured and unsecured loans for financing automobiles, home improvements, education and personal investments. The Bank's residential mortgage loan portfolio consists of residential first and second mortgage loans, residential construction loans and home equity lines of credit and term loans secured by first and second mortgages on the residences of borrowers for home improvements, education and other personal expenditures. The Bank's consumer loans consist mainly of installment loans to individuals for personal, family and household purposes. The Bank competes for business with numerous other financial institutions including national and regional banks, credit unions, other community banks, mutual funds, brokerage firms and insurance companies offering deposit products. The Bank targets individual retail and small-to-medium size commercial customers. The Company is subject to regulation by the Board of Governors of the Federal Reserve System (Federal Reserve).