Citizens State Bank

Getting the job done!

Group Photo The PPP crew included Lynne, Martha, David, Kami, Perry, Bruce and Jason.

Citizens State Bank worked hard to personally help businesses through the process of applying for a PPP loan. The bank made a difference in our community and provided critical funding to our local businesses in 2020-2021.

In round two of the PPP, Citizens helped 412 businesses with 1053 employees receive $10.3 million in PPP loans over the course of 121 days!

In both rounds of the PPP, Citizens provided 624 forgivable loans totaling over $21 million. That made a difference during the pandemic.

By Perry Forst
Citizens State Bank President

Every bank talks about its service. That is just a fact. However, actions set some banks apart from the others.

In January of 2021 a team of employees at Citizens State Bank recognized an opportunity to create a tremendous impact for our local businesses, farmers, their employees, and the community. Legislation known as the Economic Aid Act was enacted on December 27, 2020. Among other things, the act re-authorized the Paycheck Protection Program (PPP) and created a “second round” of PPP loans.

Several employees spent the weekend and the following weeks reviewing hundreds of pages of new rules, definitions, procedures and applications as created by the act (as well as numerous revisions to all of the above). Citizens was again the local expert on the Paycheck Protection Program. We chose to dedicate time and effort in order to provide accurate advice when assisting customers.

Customers expressed relief and appreciation after learning they were not alone when trying to learn and navigate the process. Our team evaluated each customer’s specific situation, and on top of that, we provided one-on-one guidance completing the application forms. You see, we did not just direct people to an online application link the way most other banks did.

Citizens State Bank understands the value of local bankers that you can come in and talk with. We also equip our local experts with technology that offers customers security and convenience for those occasions when stopping by the bank to sign is difficult to fit into a busy schedule. For example, our customers can digitally sign loan documents safely from their electronic devices. In-person banking combined with useful technology is a recipe for a great experience with Citizens.

Our outreach efforts to alert local businesses and farmers to the availability of the PPP were not limited to existing customers. Citizens is committed to the community and we are willing to help customers and non-customers alike. Many friends of Citizens State Bank told their family members, neighbors, and colleagues to stop in or call Citizens for help and guidance. We are always humbled by and thankful for those recommendations.

I am proud to say our team of seven highly motivated bankers pulled together over an action-packed four months to produce tremendous results. They helped 412 businesses and farmers who had 1,053 employees on their payrolls. Citizens State Bank provided $10,300,388.45 in local economic stimulus to hard-working business people and farmers through PPP loans. Our team will be communicating with our customers to initiate the forgiveness process for the PPP loans in the coming months. We are very thankful for the opportunity to serve both existing and new customers, especially when the financial impact for the businesses, farmers and their employees is so great.

This is another clear example that Citizens State Bank continues to stand apart from its competitors.