Citizens Holding is a one-bank holding company that owns Citizens Bank, a community bank headquartered in Philadelphia, Mississippi, with roughly $1.4B in total assets. Founded in 1908, Citizens Bank originally served a rural market in central Mississippi and has since expanded into larger Mississippi cities including Jackson, Gulfport, Hattiesburg, Biloxi, and Meridian. Citizens Bank offers standard commercial and personal banking services, including deposits, lending, trust services, and treasury management products. Lending is the core earnings driver, contributing over half of gross revenues, with the loan portfolio heavily concentrated in real estate (~83% of loans). Citizens Bank earns money by paying depositors a lower interest rate than it earns on loans and investment securities, capturing the spread as its primary income source. Profitability is driven by loan volume and mix, the interest rate environment, credit quality, and deposit funding costs. Citizens Bank sells through its branch network and digital banking platforms. Notable: Citizens Holding delisted from Nasdaq in December 2023, moved to the OTCQX Market, and suspended its SEC reporting obligations after filing this annual report.