Deal Spotlight: Citizens Bancshares, Inc. Agrees to be Acquired by CSB Financial Holdings Inc.

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Press Release | less than 1 min read

Feb 3, 2022

Hinshaw congratulates firm client, Citizens Bancshares, Inc, the parent company of Citizens First State Bank, on its recent agreement to be acquired by CSB Financial Holdings Inc., the holding company for Community State Bank. Terms of the transaction were not disclosed. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to close in the third quarter of 2022.

After the transaction is finalized, Community State Bank will operate offices in Galva, Neponset, Kewanee, Franklin and Walnut, Illinois.

Read the official deal announcement

Hinshaw's legal team, which served as transactional counsel to Citizens Bancshares on the deal, was led by partner Timothy Sullivan.

Hinshaw & Culbertson LLP is a U.S.-based law firm with offices nationwide. The firm's national reputation spans the insurance industry, the financial services sector, professional services, and other highly regulated industries. Hinshaw provides holistic legal solutions—from litigation and dispute resolution, and business advisory and transactional services, to regulatory compliance—for clients of all sizes. Visit www.hinshawlaw.com for more information and follow @Hinshaw on LinkedIn and X.