Business
TD Bank invests $5 million in Citizens Trust Bank, a minority-owned financial institution serving the Atlanta region for over 100 years
TD Bank invests $5 million in Citizens Trust Bank, a minority-owned financial institution serving the Atlanta region for over 100 years.
About this update from Citizens Bancshares Corp.
[{"type":"text","content":"\n\n\n\nTD Bank invests $5 million in Citizens Trust Bank, a minority-owned financial institution serving the Atlanta region for over 100 years\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nTD Bank invests $5 million in Citizens Trust Bank, a minority-owned financial institution serving the Atlanta region for over 100 years\nPR Newswire\nATLANTA, Nov. 30, 2022\n\n\n\nThe investment closely aligns with TD's purpose to enrich the lives of the customers and communities that it serves\nATLANTA, Nov. 30, 2022 /PRNewswire/ -- The Commercial Bank of TD Bank, America's Most Convenient Bank®, announced today that it has made a $5 million equity investment in Citizens Trust Bank in Atlanta, Ga., to help expand opportunities for minority-owned businesses as it eyes further expansion into the region. \n\n \n \n \n \n \n \n\n \nThis investment closely aligns with TD's purpose to enrich the lives of the customers and communities it serves.Citizens Trust Bank is a black-owned Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI) founded in 1921, with physical locations in the Atlanta and Alabama markets and a nationwide digital footprint. The investment was made for $5 million in preferred shares via TD Community Development Corporation, a wholly owned subsidiary of TD Bank. The investment represents one of TD's first MDI investments in the country.\nTD's U.S. Commercial Bank is actively lending in the Atlanta region via its Middle Market, Municipal, Institutional Commercial Real Estate, TD Equipment Finance and Healthcare business lines. This move will enable minority-owned businesses greater access to capital, while allowing Citizens Trust to provide broad financial services in communities that are often underserved. \n\"This investment is a natural next step in TD's Commercial Bank presence in the region, as we look to expand our reach, with like-minded organizations like Citizens Trust Bank, to help support all businesses,\" said Chris Giamo, Head of Commercial Banking for TD Bank. \"It al...