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APEX Bank invests $1 million in nation’s oldest minority bank
April 22, 2021

KNOXVILLE – Apex Bank, a Tennessee Banking corporation, invested $1 million into Citizens Savings Bank and Trust Company, located in Nashville, Tennessee. Citizens Savings Bank and Trust Company is the oldest, continuously operating minority-owned bank in the nation and the first minority-owned bank in Tennessee. This investment will aid Citizens Savings Bank and Trust in fulfilling their mission of serving minority and underserved communities within Tennessee.

“Apex Bank and Citizens Savings Bank and Trust have similar corporate standards,” said Matt Daniels, CEO of Apex Bank. “Both organizations place value in supporting communities and value relationships that promote local, economic growth.”

Citizens Savings Bank and Trust began operating in 1904 as One Cent Savings Bank and Trust. Today, Citizens Savings Bank and Trust Company is a privately owned company with approximately $100 million in assets, dedicated to expanding economic opportunity to economically disadvantaged individuals and underserved communities.

“This partnership is a great opportunity to share strategies and efforts to reach areas underserved by the traditional banking sector,” continued Mr. Daniels. “We believe in Citizens’ vision of supporting affordable housing, small business and community facilities, and providing technical financial assistance to customers.”

Apex Bank began operating in 1931 as the Bank of Camden and unified its brands under the Apex Bank umbrella in 2015. With over $935 million in assets, Apex Bank now operates 17 retail offices and a Knoxville-based national mortgage-servicing center.

Apex Bank is a member of the FDIC.

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