Citizens Bank & Trust to Be Acquired by CB&S Bank — Merger Expected to Close in Early 2026
TRENTON, Ga. — Citizens Bank & Trust, headquartered in Trenton, will soon become part of a multi-state banking organization. TAG Bancshares, Inc., the holding company for Citizens Bank & Trust, has announced it has entered into a definitive merger agreement to be acquired by CBS Banc-Corp., the holding company for CB&S Bank based in Russellville, Alabama.
The agreement was signed November 18, 2025, and the transaction is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals. Financial terms of the deal were not disclosed, though shareholders of TAG Bancshares will receive 100% cash consideration.
Citizens Bank & Trust, founded in 1988, currently operates three branches and holds $128.5 million in assets, according to Q3 2025 data from S&P Global. CB&S Bank, founded in 1906, operates 55 branches with total assets of approximately $2.83 billion across Alabama, Mississippi, Tennessee, and Georgia.
Once the merger is complete, the combined banking company will have roughly $3.0 billion in assets and continue to operate under the CB&S Bank brand.
Olsen Palmer LLC served as financial advisor to TAG Bancshares, Inc. The firm is ranked as one of the top three bank M&A advisors nationwide based on the number of transactions since 2020.
Below is the Press Release From Citizens Bank & Trust, Inc
PRESS RELEASE
FOR IMMEDIATE RELEASE
RUSSELLVILLE, AL and TRENTON, GA November 19, 2025
CBS Banc-Corp. (“CBS”), holding company for CB&S Bank, Inc. (“CB&S Bank”), headquartered in Russellville, Alabama,
and TAG Bancshares, Inc. (“TAG”), holding company for Citizens Bank & Trust, Inc.
(“Citizens”), headquartered in Trenton, Georgia, are jointly pleased to announce the signing of a
definitive merger agreement whereby TAG will merge with and into CBS. Shareholders of TAG
will receive cash for each share of the company’s common stock.
The merger of CBS and TAG will create a combined company with approximately $3.0 billion in
assets, serving Alabama, Georgia, Mississippi, and Tennessee. The transaction is expected to
close in the first quarter of 2026.
Citizens, a wholly owned subsidiary of TAG, was founded in 1988 and has established itself as a
reputable community bank with a long history of serving local families and businesses across
northwest Georgia and northeast Alabama. As of September 30, 2025, Citizens had total assets
exceeding $128 million.
This strategic acquisition marks a significant milestone for CBS’s growth strategy, as the
Chattanooga market, which Citizens has a strong presence in, creates a compelling opportunity
for bank acquisition due to its strategic location between the high-growth markets of Nashville
and Atlanta, supported by a regional workforce exceeding 295,000 and a strong pipeline of over
12,000 university students. Additionally, the area’s robust healthcare infrastructure and major
industrial investments signal sustained economic expansion and increased demand for financial
services. “This partnership represents a natural extension of our growth strategy and a shared commitment
towards finding ways to continuously support and strengthen our local communities” said Mike
Ross, President & CEO of CBS. “Citizens has built strong local relationships and a culture that
aligns closely with ours. Together, we’ll be able to expand their products, services, and lending
capacity to better serve our combined customers.”
Upon completion of the merger, the combined company will continue to operate under the
CB&S Bank brand. This acquisition further reinforces CBS’s ongoing commitment to growth
across the Southeast and to providing high quality financial services.
“We are excited about this partnership and the opportunities it will bring to our customers and
employees,” said Chris Powell, CEO of TAG. “Joining the CBS family provides us with
additional resources, technology, and scale to continue providing exceptional service across our
markets.”
Keefe, Bruyette, & Woods, A Stifel Company is serving as financial advisor to CBS and Jones
Walker, LLP as legal counsel. TAG is advised by Olsen Palmer LLC as financial advisor and
Troutman Pepper Locke LLP as legal counsel.
About CBS Banc-Corp.
CBS Banc-Corp. is a bank holding company headquartered in Russellville, Alabama. The
company’s banking subsidiary, CB&S Bank, Inc., Member FDIC, was founded in 1906 to focus
on the unmet needs of farmers and town merchants. As one of the largest community banks in
Alabama with over $2.8 billion in assets, CB&S Bank is proud to have since expanded its
presence with over 50 offices in Alabama, Georgia, Mississippi, and Tennessee. The company
offers a complete line of full-service banking products and other related financial services to
retail and commercial customers through its subsidiaries. Additional information about the bank
can be found at www.cbsbank.com.
About TAG Bancshares, Inc.
TAG Bancshares, Inc. is a bank holding company headquartered in Trenton, Georgia. Its banking
subsidiary, Citizens Bank & Trust, Inc., Member FDIC, was founded in 1988 and has a long
standing history of serving its communities with personalized financial services. The bank
operates 3 locations across Alabama and Georgia, offering a full suite of consumer and
commercial banking solutions. Additional information about the bank can be found
at www.trustcbt.com.
For more information contact:
Michael D. “Mike” Ross, CBS Banc-Corp., President & CEO
(256) 331-8657 or [email protected]
CBS Banc-Corp. To Acquire TAG Bancshares, Inc.