- A comprehensive evaluation of Citizens First's branch network that resulted in the decision to close its Franklin North and Glasgow Downtown branch locations effective January 29, 2010. Customers at both locations will continue to be serviced at Citizens' eight other full service branch locations that are strategically placed to service its customer base.
- The relocation of the corporate headquarters within the Company's existing facility and the downsizing of administrative services to improve efficiency and reduce overhead expense.
- The evaluation and subsequent reduction of staff levels in both the branch network and administrative services area which reduced the number of full time equivalent employees from 107 as of September 30 to 90 as of November 30.
Citizens First Corporation Announces Progress In Implementing Profitability Initiatives; Comments On Withdrawn Tender Offer
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