Independent Banker - February 2019 - 48

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cleaners and convenience stores, mechanics shops-the
businesses that the big banks don't look at anymore. "
As Bates and others have seen, the development in
Nashville has benefi ted surrounding communities,
too. " We see great growth, " says William S. Stuard, Jr.,
chairman, president and CEO of $1.1 billion-asset F&M
Bank. " There are a tremendous number of people, and they
get more bang for the buck outside of downtown. The cost
of living is lower in the surrounding markets. In Wilson
and Sumner counties, and others that we serve, we see a lot
of opportunity. "
It is not just newcomers to the region providing that
opportunity. Because Stuard has been in banking in
the region for his entire career, he's now lending to the
grandkids of his customers from 40 years ago. The biggest
struggle, he says, is hiring to fi ll vacant positions to keep
Sergio Ora came out of retirement
for his current gig. Ora joined
$101.3 million-asset Citizens Savings
Bank and Trust Co. in April 2018,
and in June, became president and
CEO, with a goal of turning around
the troubled institution. He'd worked
at First Tennessee Bank and BBVA
Compass Bank before retirement,
so while he describes himself as a
relative " newcomer " to community
banking, Citizens and the Nashville
market, he's a financial services pro.
Citizens Savings off icials believe
it is the oldest continuously
operating minority-owned bank
in the country, and Ora, with his
team of CFO Anne Sams and CCO
Corey Hammonds, plan to keep the
115-year-old community bank going
for the next century.
Hammonds started as a
bookkeeper at Citizens Savings
in 2003 and has worked his way
up. He left to become one of the
youngest African-American general
certified appraisers in the area, and
returned with plentiful real estate
expertise. Additionally, Ora and
Sams bring in experience from a
Sergio Ora of Citizens Savings Bank and Trust Co. eyes Broadway from Acme Feed and Seed.
wide cross-section of businesses
and banks.
" I was naïve, " admits Ora, who
took the helm after the bank closed
out 2017 with a $2.8 million loss.
" I thought it would be easier at a
smaller bank, but in a lot of ways, it
is more challenging. It is an entirely
diff erent environment and culture,
but it has created a lot of excitement
on my part. We have 26 employees,
and we're able to get to know
everyone and their personalities and
work to meet our goals. "
Citizens Savings is heavily
48 Q ICBA Independent Banker Q February 2019
focused on faith-based lending,
with a large percentage of its
portfolio devoted to commercial
real estate lending to churches.
Once the bank is on sound financial
footing, the team will be confident
about the future.
" One of the challenges is how do
you compete with the big boys; it
is a matter of diff erentiation, " Ora
says. " That's the good thing about
Citizens, its distinctiveness. We
have a sense of urgency here to
create a solid financial foundation
and live up to our mission. "
Photo: Abigail Bobo
Independent Banker - February 2019

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