Citizens Bank & Trust

What Citizens Bank & Trust does

Citizens Bank & Trust is a full-service community bank headquartered in Lake Wales, Florida, operating 14-17 branches across Polk, Hillsborough, and Pasco counties. Founded in 1920 as Citizens Bank of Frostproof by Latt Maxcy and six local businessmen with $25,000 in original capital, the bank is now in its third generation of Maxcy family ownership and is the oldest bank founded in Polk County still in existence. The institution serves consumers, small businesses, and commercial clients through five primary business lines: personal banking (checking, savings, credit cards, Mastercard debit/ATM cards), business banking (checking, savings, and business services), small business advantage lending (real estate loans, lines of credit, auto and equipment loans), consumer and residential lending (personal, student, and mortgage loans), and wealth management (private banking, trust and investments through the Citizens Financial Group sub-brand).

The bank's technology stack is built on a traditional community banking platform augmented with digital channels, including iOS and Android mobile apps (supporting Zelle peer-to-peer payments, mobile check deposit, bill pay, and account transfers), an online banking portal, and Interactive Teller Machines (ITMs) that provide extended-hours service with remote teller assistance — first deployed at the Mulberry location in 2024. The ITM, mobile deposit, and online bill-pay features are described as ease-of-use differentiators rather than technical innovations, positioning the bank as a digitally-enabled community institution rather than a technology-driven fintech.

Citizens Bank & Trust generates revenue primarily through net interest income on its deposit and lending franchises, with recurring fee income from wealth management, trust services, and merchant/ATM interchange (Mastercard-branded cards). The go-to-market motion is community-led, relying on physical branch density, local decision-making, and multi-generational family ownership relationships rather than digital acquisition channels. Pricing is not publicly disclosed; fee schedules are made available on request at local branches. The bank is FDIC-insured, privately held, and operates with no disclosed parent company, subsidiaries, institutional investors, or external funding rounds.

Name

Citizens Bank & Trust

Legal name

Citizens Bank & Trust

Website

https://citizens-bank.com

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

101–250 employees

Short description

Citizens Bank & Trust is a third-generation, family-owned community bank in central Florida serving consumers, small businesses, and commercial clients with deposit, lending, and wealth management products across 14-17 branches in Polk, Hillsborough, and Pasco counties.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Trusts, Estates, and Agency Accounts (52592)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Corporate & Institutional Trust Services (FSAAANAB), Affluent / Mass-Affluent Private Banking (FSABADAC), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• Consumer deposit accounts
• Commercial lending products
• Residential mortgage lending
• Wealth management services

Headquarters

HQ city

Auburndale

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Personal Banking: Personal checking, savings, credit cards, debit/ATM cards, and personal lending products including student loans. Services available through branch locations and digital channels.
2. Business Banking: Business checking, business savings, business services, and business lending including commercial loans. Small business advantage products including real estate loans, lines of credit, auto loans, and equipment loans.
3. Residential Lending: Home mortgage and residential lending products tailored to individual customer needs.
4. Wealth Management: Trust and investments, private banking, and comprehensive wealth management services delivered by experienced professionals.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Citizens Bank & Trust is a full-service community bank that provides deposit accounts, consumer and commercial loans, and wealth management services to individuals, small businesses, and high-net-worth clients across central Florida. Its product set spans personal checking, savings, credit cards, mortgages, personal and student loans, business checking and savings, commercial lending, small business real estate and equipment loans, and trust and private banking. Distribution is delivered through 14-17 branches, online and mobile banking, peer-to-peer payments via Zelle, and Interactive Teller Machines.

Product overview

Citizens Bank & Trust is a full-service community bank offering a comprehensive suite of personal and business banking products. The bank's offerings include personal checking, savings, and credit cards; business checking, savings, and commercial lending; small business financing including real estate loans, lines of credit, and equipment loans; residential, personal, and student lending; and wealth management services comprising private banking, trust administration, and investment management. Digital banking is provided through mobile and online platforms with features including Zelle peer-to-peer payments, mobile check deposit, and bill pay. The bank operates traditional branch locations as well as Interactive Teller Machines for extended service hours.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking account offerings with features such as online banking with bill pay, available to individual consumers through branches and digital channels.
• Personal Savings Savings account products for individual customers to deposit and grow funds, complemented by online and mobile banking access.
• Credit Cards Credit card products providing purchasing power and rewards for personal banking customers.
• Mastercard Debit / ATM Card Debit and ATM card services powered by Mastercard for cash withdrawals and point-of-sale transactions, leveraging the global Mastercard payment network.
• Mobile Banking Mobile banking application providing 24/7 access to accounts via smartphone or tablet, enabling bill payment, balance checks, transfers, and mobile check deposit.
• Online Banking Internet banking platform offering account management, bill pay, and transaction monitoring through web browsers.
• Zelle Peer-to-Peer Payments Peer-to-peer payment service integrated with personal banking accounts for sending money to friends and family.
• Mobile Check Deposit Service allowing customers to deposit checks remotely by photographing them with a mobile device.
• Business Checking Commercial checking accounts designed for business banking needs with online banking access for business owners and commercial customers.
• Business Savings Savings accounts tailored for business customers to maintain reserves and earn interest.
• Business Services Additional banking services for commercial customers including operational financial tools.
• Business Lending Commercial loan products including term loans and credit facilities for business purposes.
• Small Business Real Estate Loans Financing options for small businesses to acquire, develop, or refinance commercial real estate.
• Small Business Line of Credit Revolving credit facility providing small businesses with flexible access to working capital.
• Small Business Auto Loans Vehicle financing for small business commercial vehicle needs.
• Small Business Equipment Loans Financing for purchasing business equipment and machinery.
• Personal Lending Individual loan products for personal financial needs including debt consolidation and major purchases.
• Residential Lending Mortgage and home equity loan products for purchasing or refinancing residential properties.
• Student Loans Education financing products for students and their families.
• Private Banking High-touch banking services for high-net-worth individuals with personalized financial guidance.
• Trust & Investments Trust services, investment management, and wealth planning for customers' long-term financial goals.
• Citizens Financial Group Wealth management division providing comprehensive financial advisory services.
• Interactive Teller Machine (ITM) Advanced teller machine technology allowing remote teller assistance for enhanced customer service and extended banking hours, available at locations such as the Mulberry branch.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• MastercardcoreTechnology or IntegrationCitizens Bank & Trust issues Mastercard-branded debit and ATM cards to its customers, providing access to the global Mastercard payment network for transactions at ATMs and merchants worldwide.
• FDIC (Federal Deposit Insurance Corporation)coreOthersThe bank is FDIC insured, protecting customer deposits up to the maximum allowed amount. The FDIC digital sign is prominently displayed on the bank's website indicating membership.
• Latt Maxcy CorporationcoreOthersThe bank traces its origins to the Latt Maxcy Corporation, formed May 1, 1963. The Maxcy family continues to own and operate the bank through subsequent generations.
• Tinsley CreativeminorGTM or Marketing PartnerProvides brand management services for Citizens Bank & Trust as noted in the website footer.
• American Bank & TrustcoreOthersCitizens Bank & Trust acquired American Bank & Trust in 2004, which included a trust department and prompted the name change from Citizens Bank to Citizens Bank & Trust.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Cadence Bank: Mid-sized regional bank with full commercial, retail, and wealth capabilities across the South. Operates a similar line-up of community-bank products but with substantially larger scale, broader treasury management, and corporate banking overlay.
• BankUnited: Florida-headquartered commercial and retail bank with a community-banking feel but significantly larger scale. Provides perspective on how a Florida-focused franchise matures and scales commercial and treasury-management capabilities.
• Truist Financial Corporation: Large super-regional bank with major Florida footprint covering essentially the same retail and commercial banking products as Citizens Bank. Sets the competitive benchmark for deposit pricing, digital investment, and branch productivity.

Direct peers

• United Community Banks: Regional community bank serving consumers and businesses across the Southeast. Comparable deposit-and-loan product mix and similar reliance on relationship banking make it an apt peer for unit economics benchmarking.
• Synovus Financial: Regional bank holding company with significant Florida and Southeast U.S. operations serving commercial, retail, and wealth customers. Comparable product breadth across commercial lending, deposit products, and wealth management though at materially larger scale.
• BayFirst Financial Corp: Florida-based community banking franchise offering consumer, commercial, and small-business lending. Comparable scale and Florida-centric footprint make it a particularly close direct peer for product-overlap analysis.
• Pinnacle Financial Partners: Multi-state community bank holding company delivering commercial, consumer, and wealth services in the Southeast and Mid-Atlantic. Provides a useful comparison on growth-via-acquisition and high-touch commercial banking economics similar to Citizens Bank's playbook.
• SouthState Bank Corporation: Southeastern regional community bank formed from Florida-area mergers, providing consumer and commercial banking products across the Carolinas, Georgia, Florida, Alabama, and Virginia. Highly comparable product mix and target customer profile.
• Seacoast Banking Corporation of Florida: Florida-headquartered community bank with a similarly long-standing retail and commercial banking franchise across the state, offering a comparable mix of deposit, lending, and wealth management products. Closest directly analogous peer given shared Florida regional focus and full-service community-banking model.
• FirstBank (Alabama): Southeastern U.S. community bank with presence across multiple states. Offers a similar mix of personal, business, and mortgage products to a community-banking customer base, providing a useful like-for-like geographic peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/citizens-bank-and-trust

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Citizens Bank & Trust