Latest news with #CitizensBank
Yahoo
16-06-2025
- Business
- Yahoo
Citizens Bank of West Virginia Receives FHLBank Pittsburgh's 2025 Annual Member Award
BRIDGEPORT, W. Va., June 16, 2025--(BUSINESS WIRE)--The Federal Home Loan Bank of Pittsburgh (FHLBank) announced Citizens Bank of West Virginia (Citizens Bank) as a 2025 winner of its Pillars of the Community Awards, and conferred the award today. This award is presented to member financial institutions that have demonstrated an outstanding commitment to community development. Awardees have also demonstrated exemplary efforts and effective use of FHLBank's community products. This award is FHLBank's highest organizational honor and is presented annually to select FHLBank members in recognition of their commitment to community revitalization. This year's other winner is First Citizens Community Bank in Mansfield, Pennsylvania. Citizens Bank is a locally owned community bank and primarily serves West Virginians with a comprehensive line of banking, trust and investment products. In 2024, Citizens Bank utilized FHLBank's Home4Good program to support local affordable housing needs, as well as FHLBank's Banking On Business program to help Siler Cycle and Automotive, which specializes in car repairs, including steering, brakes and alignment. The capital helped with purchases, such as computer equipment and tire inventory, as well as routine items, including payroll and office supplies. Citizens Bank's use of FHLBank programs has benefited their stakeholders and contributed to their selection as a 2025 Pillars of the Community Award winner. Click here to learn more about Citizens Bank, the 2025 Pillars of the Community Award recognition, and their incredible community work. About Citizens Bank of West Virginia Citizens Bank of West Virginia, with $678 million in assets, provides integrated financial services including retail and commercial banking, wealth management, and mortgage services from six offices in Elkins, Parsons, Beverly, Snowshoe, Buckhannon and New Martinsville. The bank is a wholly owned subsidiary of Citizens Financial Corp. (OTC: CIWV). Citizens Bank was recognized for the fourth consecutive year by American Banker magazine in the Top Performing Publicly Trading Community Banks Under $2 Billion of Assets in the Nation, ranking 25th on the prestigious Top 100 list and 1st among WV banks. Citizens is also named to Newsweek's America's Best Banks list as the Best Small Bank in WV, ranked 16th as one of the Best Banks to Work for in the Country by American Banker, Best of West Virginia Corporate Citizen by WV Living, The Inter-Mountain's People's Choice Best Bank, Mortgage Lender, Customer Service & Employer, SBA WV Community Lender of the Year, and ranked the nation's no. 9 top lender by Independent Community Bankers of America (ICBA) in the consumer/mortgage category for banks $300M - $1B in assets and No. 1 as the consumer/mortgage lender in West Virginia in this class. More information is available online at About FHLBank Pittsburgh FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting View source version on Contacts Eric M. Slomer, FHLBank Pittsburgh, 412-288-7694, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-06-2025
- Business
- Business Wire
Citizens Bank of West Virginia Receives FHLBank Pittsburgh's 2025 Annual Member Award
BRIDGEPORT, W. Va.--(BUSINESS WIRE)--The Federal Home Loan Bank of Pittsburgh (FHLBank) announced Citizens Bank of West Virginia (Citizens Bank) as a 2025 winner of its Pillars of the Community Awards, and conferred the award today. This award is presented to member financial institutions that have demonstrated an outstanding commitment to community development. Awardees have also demonstrated exemplary efforts and effective use of FHLBank's community products. This award is FHLBank's highest organizational honor and is presented annually to select FHLBank members in recognition of their commitment to community revitalization. This year's other winner is First Citizens Community Bank in Mansfield, Pennsylvania. Citizens Bank is a locally owned community bank and primarily serves West Virginians with a comprehensive line of banking, trust and investment products. In 2024, Citizens Bank utilized FHLBank's Home4Good program to support local affordable housing needs, as well as FHLBank's Banking On Business program to help Siler Cycle and Automotive, which specializes in car repairs, including steering, brakes and alignment. The capital helped with purchases, such as computer equipment and tire inventory, as well as routine items, including payroll and office supplies. Citizens Bank's use of FHLBank programs has benefited their stakeholders and contributed to their selection as a 2025 Pillars of the Community Award winner. Click here to learn more about Citizens Bank, the 2025 Pillars of the Community Award recognition, and their incredible community work. About Citizens Bank of West Virginia Citizens Bank of West Virginia, with $678 million in assets, provides integrated financial services including retail and commercial banking, wealth management, and mortgage services from six offices in Elkins, Parsons, Beverly, Snowshoe, Buckhannon and New Martinsville. The bank is a wholly owned subsidiary of Citizens Financial Corp. (OTC: CIWV). Citizens Bank was recognized for the fourth consecutive year by American Banker magazine in the Top Performing Publicly Trading Community Banks Under $2 Billion of Assets in the Nation, ranking 25th on the prestigious Top 100 list and 1st among WV banks. Citizens is also named to Newsweek's America's Best Banks list as the Best Small Bank in WV, ranked 16th as one of the Best Banks to Work for in the Country by American Banker, Best of West Virginia Corporate Citizen by WV Living, The Inter-Mountain's People's Choice Best Bank, Mortgage Lender, Customer Service & Employer, SBA WV Community Lender of the Year, and ranked the nation's no. 9 top lender by Independent Community Bankers of America (ICBA) in the consumer/mortgage category for banks $300M - $1B in assets and No. 1 as the consumer/mortgage lender in West Virginia in this class. More information is available online at About FHLBank Pittsburgh FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting
Yahoo
14-06-2025
- Business
- Yahoo
Women Are About To Inherit $30 Trillion in ‘Great Wealth Transfer' — How To Prepare for Your Windfall
American women are poised to inherit $30 trillion in wealth in the next 10 years in what experts are calling the Great Wealth Transfer, already in progress. Much of this money will be passed generationally, and a significant amount will move from men to their wives, according to The Rising Wealth of Women, a Bank of America Institute report published last year. Although this transfer is narrowing wealth disparities between women and men, the study found that women are still less confident in their ability to manage a financial windfall. Watch Out: Read Next: A recent survey from Citizens Bank found 66% of Gen Z women and 50% of millennial women said they'd delayed actively managing their wealth because they lacked confidence or didn't know how to do it, and just 16% felt completely confident in their ability to manage an inheritance. Keep reading to learn how to take control of your money and prepare for your eventual windfall. The vast majority of women who've already inherited money from their parents or their husbands felt unprepared. Global wealth manager UBS noted in its May Own Your Worth report that 40% of women who inherited from their parents had done so with no wealth-transfer or estate plan in place. Widowed women faced similar predicaments, with 25% not even knowing where their husbands' wealth was. At the very least, know what assets your family has, where they're held and how they'll pass on to you. Tax planning is also important, according to 87% of the inheritance recipients surveyed by UBS. Discover More: Defining your short-term and long-term goals in writing gives you a blueprint to guide your financial decisions now and after you've received your inheritance. These priorities might include: Building an emergency fund Saving for retirement Paying off debt Starting a business Saving for your kids' education Buying a home Planning your own estate It's never too early to start working toward your financial goals. A budget is the best way to do it. In addition to eliminating waste, it gets you in the habit of spending mindfully and deliberately. That accountability is the key to financial health, and it'll give you more choices when it comes time to decide how to use your inherited funds. A high percentage of women have never had their own investment account — and those who do invest do so more conservatively compared to men. Bank of America found that they allocate smaller percentages of their portfolios to stocks, for example, and are less likely to invest in risky assets like cryptocurrency. That's not a bad thing if it aligns with your risk tolerance. But if you're staying out of the market or investing conservatively because you don't feel competent enough to take more risk, make financial education a priority. Many resources are available online. You can find continuing/community ed courses through local colleges and universities. A certified financial planner (CFP) can help advise you on the best approach to meet your financial goals and help you figure out how your inheritance fits into that plan — and into your own estate plan as well. When the time comes, they can also advise you about the benefits of working with an attorney, tax accountant and/or insurance agent to protect your expanding assets. It's not unusual to have mixed feelings about planning for an inheritance. After all, it forces you to acknowledge your family members' and your own mortality. But laying the groundwork now can put everyone's minds at ease knowing that you're ready to receive this transfer of wealth and prepare the next generation to receive theirs. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Clever Ways To Save Money That Actually Work in 2025 I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on Women Are About To Inherit $30 Trillion in 'Great Wealth Transfer' — How To Prepare for Your Windfall
Yahoo
13-06-2025
- Business
- Yahoo
Women Are About To Inherit $30 Trillion in ‘Great Wealth Transfer' — How To Prepare for Your Windfall
American women are poised to inherit $30 trillion in wealth in the next 10 years in what experts are calling the Great Wealth Transfer, already in progress. Much of this money will be passed generationally, and a significant amount will move from men to their wives, according to The Rising Wealth of Women, a Bank of America Institute report published last year. Although this transfer is narrowing wealth disparities between women and men, the study found that women are still less confident in their ability to manage a financial windfall. Watch Out: Read Next: A recent survey from Citizens Bank found 66% of Gen Z women and 50% of millennial women said they'd delayed actively managing their wealth because they lacked confidence or didn't know how to do it, and just 16% felt completely confident in their ability to manage an inheritance. Keep reading to learn how to take control of your money and prepare for your eventual windfall. The vast majority of women who've already inherited money from their parents or their husbands felt unprepared. Global wealth manager UBS noted in its May Own Your Worth report that 40% of women who inherited from their parents had done so with no wealth-transfer or estate plan in place. Widowed women faced similar predicaments, with 25% not even knowing where their husbands' wealth was. At the very least, know what assets your family has, where they're held and how they'll pass on to you. Tax planning is also important, according to 87% of the inheritance recipients surveyed by UBS. Discover More: Defining your short-term and long-term goals in writing gives you a blueprint to guide your financial decisions now and after you've received your inheritance. These priorities might include: Building an emergency fund Saving for retirement Paying off debt Starting a business Saving for your kids' education Buying a home Planning your own estate It's never too early to start working toward your financial goals. A budget is the best way to do it. In addition to eliminating waste, it gets you in the habit of spending mindfully and deliberately. That accountability is the key to financial health, and it'll give you more choices when it comes time to decide how to use your inherited funds. A high percentage of women have never had their own investment account — and those who do invest do so more conservatively compared to men. Bank of America found that they allocate smaller percentages of their portfolios to stocks, for example, and are less likely to invest in risky assets like cryptocurrency. That's not a bad thing if it aligns with your risk tolerance. But if you're staying out of the market or investing conservatively because you don't feel competent enough to take more risk, make financial education a priority. Many resources are available online. You can find continuing/community ed courses through local colleges and universities. A certified financial planner (CFP) can help advise you on the best approach to meet your financial goals and help you figure out how your inheritance fits into that plan — and into your own estate plan as well. When the time comes, they can also advise you about the benefits of working with an attorney, tax accountant and/or insurance agent to protect your expanding assets. It's not unusual to have mixed feelings about planning for an inheritance. After all, it forces you to acknowledge your family members' and your own mortality. But laying the groundwork now can put everyone's minds at ease knowing that you're ready to receive this transfer of wealth and prepare the next generation to receive theirs. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard The 5 Car Brands Named the Least Reliable of 2025 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Women Are About To Inherit $30 Trillion in 'Great Wealth Transfer' — How To Prepare for Your Windfall Sign in to access your portfolio
Yahoo
07-06-2025
- Business
- Yahoo
Backblaze Secures Credit Line to Strengthen Financial Position
Backblaze, Inc. (NASDAQ:BLZE), a specialist in cloud storage solutions, has disclosed the $20 million senior secured revolving credit facility with Citizens Bank. With a market capitalization of $318.244 million and an impressive 22% revenue growth in the past year, the company's move is directed towards improving liquidity and strengthening growth initiatives. Completed as of March 31, 2025, the launched credit line enhances the company's financial flexibility, which matches the giant's liquidity position, standing at over $50 million in cash and marketable securities. The credit facility offers borrowing capacity at an interest rate that is either associated with the adjusted Secured Overnight Financing Rate (SOFR) and an additional 3.25% margin, or an alternate base rate with a 2.25% margin. While the initial term of the loan is two years, a one-year extension option is also on the table. A data center operator working on a rack of servers, emphasizing the company's cloud services. Management has expressed great optimism about this collaboration with the bank, highlighting that the terms support the company's financial footing while keeping costs relatively low. The deal includes typical terms like financial covenants, standard clauses, and usual fees. Backblaze, Inc. (NASDAQ:BLZE), headquartered in California and founded in 2007, is a storage cloud platform. The core offerings of the company include cloud services, Backblaze B2 Cloud Storage, and Internet of Things. From individuals to organizations, the cloud powerhouse serves a wide clientele. While we acknowledge the potential of BLZE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
