Dear Customers and Friends,
Although we continue shelter-in-place and social distancing practices to curb the spread of the Coronavirus, our team is hard at work serving the needs of our communities and customers. We appreciate your patience and support as we communicate and deliver banking services in new and creative ways. We are saddened by the illness and loss of so many to this invisible enemy. We are also concerned about the adverse economic impact this pandemic is causing for businesses and families. However, we are hopeful that this will pass soon, that the disciplines we are following will be effective, and that all of us will be diligent and consistent in these practices.
We are also honored to facilitate some relief for working families and small businesses. Since last Friday, we have received over 150 applications for loans under the SBA Paycheck Protection Program. These applications total almost $24 million. 136 of these applications, which total $22 million, are approved and we will begin funding these loans on Monday. These funds help to keep paychecks coming and businesses healthy for the future.
Our banking team has worked diligently over the past week, including last weekend, to achieve these results while many other banks have either chosen not to participate in this program or have not developed successful programs. I am grateful to our team members for their commitment to helping our communities and to the many customers who have trusted us to handle these applications. We are still accepting applications, and we encourage businesses to apply using the application package on our website at www.citizensga.com. Please let us know how we can assist you.
Thank you for allowing us to be your “Bank of Choice.”
G. Mike Odom, Jr.
Chief Executive Officer