Atlanta, GA, July 22, 2025
News Summary
Atlanta recently commemorated the legacy of Citizens Trust Bank, established by five Black businessmen in 1921, with a historical marker. The ceremony, attended by Mayor Andre Dickens, recognized the bank’s vital role in fostering financial opportunities in the Black community during segregation. Located on Martin Luther King Jr. Drive, the marker highlights the bank’s mission of promoting economic empowerment. As Citizens Trust Bank currently ranks among the top-performing banks, its founders’ vision remains relevant in addressing ongoing challenges in financial inclusion for Atlanta residents.
Atlanta celebrated a significant milestone in its history this Wednesday with the dedication of a historical marker acknowledging Citizens Trust Bank, established in 1921 by five Black businessmen known as the “Fervent Five.” The ceremony was attended by Atlanta Mayor Andre Dickens and various city council members, highlighting the importance of the bank’s legacy in fostering financial opportunities within the Black community during a time of segregation.
The historical marker was positioned outside the bank’s first standalone branch, located on Martin Luther King Jr. Drive. The initiative recognizes the critical role of Citizens Trust Bank in promoting social and economic empowerment, a mission embodied by its founders, especially Herman E. Perry, whose personal experience of discrimination and humiliation inspired the bank’s creation. The bank’s founding vision was to combat systemic exclusion and provide access to financial resources for those in need.
The Georgia Historical Society erected the marker to honor the bank’s lasting impact on the community. This event comes at a time when Citizens Trust Bank continues to gain recognition, having been ranked 28th in S&P Global Market Intelligence’s top 100 best-performing banks under $3 billion in assets for 2023. The bank operates over-the-counter common stock on the Nasdaq market through its parent company, Citizens Bancshares Corporation.
Citizens Trust Bank opened its first standalone branch in 1955, preceding significant civil rights events such as Brown vs. Board of Education and the Birmingham boycotts—events that shaped American society. Throughout its history, the bank has provided vital financial support to civil rights leaders and movements, which contributed to advancing equality and inclusion in the financial sector.
Mayor Dickens emphasized the founders’ bold aspiration for economic inclusion and community enhancement for Black residents and businesses, recognizing their efforts in overcoming historical economic barriers. The event attendees were given a new pair of socks as a symbolic gesture linked to Perry’s story, reinforcing the mission of the bank.
Cynthia N. Day, the president and CEO of Citizens Trust Bank, reiterated the bank’s commitment to empowering the community financially and championing economic inclusivity. The bank has successfully weathered numerous economic challenges, including the Great Depression, World War II, the Civil Rights Movement, the Great Recession, and most recently, the COVID-19 pandemic.
As Citizens Trust Bank reflects on its rich history and ongoing purpose, it seeks to establish partnerships and secure investments from community stakeholders to fulfill its mission further. The historical marker serves as a vital reminder not only of past triumphs but also of the ongoing challenges in the quest for financial empowerment among Atlanta’s residents.
FAQ
What is Citizens Trust Bank?
Citizens Trust Bank is a financial institution established in 1921 aimed at serving Atlanta’s Black community, providing financial services and support crucial for economic empowerment.
Who founded Citizens Trust Bank?
The bank was founded by five Black businessmen referred to as the “Fervent Five,” with significant contributions from Herman E. Perry, who faced discrimination that inspired the bank’s establishment.
What are some milestones in the bank’s history?
Citizens Trust Bank opened its first standalone branch in 1955 and played an essential role in financing the Civil Rights Movement. It has survived numerous economic challenges and continues to advocate for financial inclusion.
Why was the historical marker dedicated?
The marker was dedicated to acknowledge the significant impact of Citizens Trust Bank in promoting financial opportunities and social equality within the Atlanta community.
Key Features
| Feature | Description |
|---|---|
| Founding Year | 1921 |
| Founders | Five Black businessmen known as the “Fervent Five” |
| First Standalone Branch Opening | 1955 |
| Ranking | 28th in S&P Global Market Intelligence’s top 100 best-performing banks under $3 billion in assets for 2023 |
| Role | Financed the Civil Rights Movement and supported civil rights leaders |
| Current Mission | Promote financial inclusion and empower the community |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Saporta Report
- Atlanta News First
- NerdWallet
- Business Insider
- Governing
- Wikipedia: Citizens Trust Bank
Author: STAFF HERE ATLANTA WRITER
ATLANTA STAFF WRITER The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
