First Citizens Community Bank: Operating With a Community-First Mindset Since 1872
In this Spotlight on Community Banks article, we spoke with Randy Black, President and Chief Executive Officer of First Citizens Community Bank. Black discusses takeaways from almost one year as a publicly traded company and the importance of putting the communities the bank serves at the forefront of its decisions.
Citizens Financial Services, Inc. is currently a $2.3 billion bank headquartered in Mansfield, Pennsylvania, and is the parent company of First Citizens Community Bank (FCCB). FCCB currently operates 33 offices in Pennsylvania, Allegany County, New York, New Castle and Kent Counties in Delaware. FCCB is the parent company of the First Citizens Insurance Agency, Inc. First Citizens Community Bank has been listed on Nasdaq since 2022 trading under the symbol “CZFS.”
How has your mission evolved over the last 150 years?
For over 150 years, we’ve built our reputation on being there for our customers and our communities, in good times and in bad. That has created tremendous customer loyalty, which in turn provides the financial stability to expand into new markets, offer an extensive line of services for consumers and businesses and implement the technology necessary to remain efficient and relevant. All of our past experiences shape the values we choose to live by every day. Our successes are a testament to our values, our ability to execute a well-defined strategic plan and our incredibly hard-working team.
How important is community involvement for a regional bank? What are some of the ways you’re working to better the communities you serve?
We’ve always operated with a community-first mindset and believe continuing to put the communities we serve at the forefront of our decisions is vital for continued success. We are proud of our ongoing major partnership with Central PA Foodbank and the Delaware Foodbank, which supports our commitment to agriculture and the end of food insecurity. Our major gifts toward this area of impact totaled more than $85,000 over the last few years.
Additionally, through our partnership and support of Home4Good, over 18 different projects were awarded funds totaling nearly $1.4 million to help those in need across Delaware and Pennsylvania. Home4Good helps those who are homeless or at risk of homelessness by channeling dollars to local service organizations that know how to help. We were a lead investor by providing $100,000 to support the HDC MidAtlantic’s College Avenue Affordable Housing Project, which will provide affordable housing in Lancaster City, PA. And we contributed $50,000 to support the WEPA Tec Centro workforce development project in Lebanon City, PA, a center that will provide workforce training and education to low and moderate-income individuals that reside within the city. $93,000 of our contributions were provided to CRA Community Development specific initiatives and our employees volunteered over 2,600 hours to organizations benefiting low and moderate-income areas in 2022.
We are also committed to inclusivity receiving the Bank On Certification in 2022, a certification promoted by the CFE fund that is nationally awarded to banks that meet account criteria which ensures everyone has access to a safe, affordable transactional banking account. FCCB has a history of being recognized for the value we place on social responsibility and good citizenship. These efforts resulted in FCCB being ranked one of the top five banks in PA for their customer service efforts during the Pandemic. And in 2021, FCCB was recognized as a runner up for the Corporate Philanthropy Award, which recognizes a corporation or corporate foundation that demonstrates outstanding commitment through financial support and volunteerism, and one who encourages and motivates others to take philanthropic leadership roles in the community.
What’s been the biggest surprise during your first year as a publicly traded company?
We were honored to be included in the ABAQ index just six months after our up-listing on Nasdaq. Our company experienced significant financial milestones in 2022, and this recognition seemed fitting at the close of our 150th anniversary year! Furthermore, in 2022 we experienced one of the best years for financial performance in our history, which could not have happened without a unified, dedicated and incredibly loyal team of FCCB employees. Our employees continually impress me with their determination to achieve, they are up for any challenge and I know that really makes us different.
Equally impressive was the increased interest in our stock (CZFS) as a result of our up-listing. Nasdaq provided greater visibility and credibility to our community banking brand, which showed investors our propensity for growth. Our transparent financial reporting assures investors of our financial health and sound management practices.
Who is the ideal Citizens Financial Services, Inc. customer? How do you build customer loyalty?
At FCCB we pride ourselves on being a bank large enough to offer competitive products and services, but small enough to make every customer feel valued. Our organizational structure is built to encourage collaboration and provide the services and expertise that allow the best customer service experience in community banking. Customers feel the difference when they choose FCCB as their financial partner. Local decision making and a bank-wide focus on the customer experience are ingrained in our culture. We believe there is no customer that we couldn’t become a financial partner to!
Connect with First Citizens Community Bank:
About Randy Black:
Randy Black is Vice Chairman of the Boards of Citizens Financial Services, Inc., and First Citizens Community Bank. He has been Chief Executive Officer and President of First Citizens Community Bank since 2004. Black is a Class A Federal Reserve Bank Director, a Pennsylvania State University Board of Trustees member, the Second Vice Chair of the Pennsylvania Bankers Association Board of Directors, and is a Bloomsburg University Zeigler College of Business Executive Advisory Board member.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Michael Spector
Nasdaq
Michael is responsible for managing relationships with Nasdaq listed companies in the South Central and South Western U.S.
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