Guntersville, AL – Citizens B & T Holdings, Inc., the holding company for Citizens Bank & Trust, recently completed a 4.00%, $30.0 million private placement of subordinated notes to qualified institutional investors. Due to strong demand, the offering was upsized from $25.0 million. The proceeds from this transaction will be used to support future growth, repay extant debt and general corporate purposes.

Brean Capital, LLC served as the Company’s Exclusive Advisor and Sole Placement Agent in connection with this transaction.

The notes will initially bear an interest rate of 4.00% per annum from April 20, 2021 to May 1, 2026, with interest payable semi-annually in arrears. Thereafter, interest will accrue at a floating rate per annum equal to a benchmark rate, which is expected to be three-month term secured overnight financing rate, plus a spread of 304 basis points, payable quarterly in arrears.

“We could not be more pleased with the success of our subordinated note offering” stated Charlie Williams, President and CEO of Citizens Bank & Trust. “This capital is pivotal in executing our growth objectives while continuing to support our customers throughout Northern Alabama.”

Citizens B & T Holdings, Inc. is the holding company for Citizens Bank & Trust. Founded in 2003, the bank currently operates eight strategic branch locations in Northern Alabama. As of December 31, 2020, Citizens Bank & Trust had total assets of $720 million and is certified by the U.S. Treasury as a Community Financial Development Institution (CDFI). Additional information can be found at:

Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 40 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses.  Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction.  For more information, please visit:

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Managing Director
(212) 702-6614

Managing Director
(212) 655-4869

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