Citizens Expands Through Tough Times

Aging bank explores acquisitions in attempt to rebound from falling revenue

August, Citizens Bancshares, which began offering common stock in early 1999, also announced that over the next 24 months, it plans to buy back 260,000 shares of its common stock. Currently, the company has 2,178,213 shares of common stock outstanding. All repurchased shares will become treasury shares, and will be used for general-corporate purposes, including stock options, and also to fund employee and management stock plans.

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