Howard says that growth plans include attracting new customers, adding new business accounts, and acquiring other companies that complement Powerlink’s portfolio. The company will continue to thrive because it is continuously examining and refining its processes and remains open to change, says Lena Rodriguez, chief marketing and development officer for the Urban Entrepreneurship Partnership Inc., a program of the Kauffman Foundation. Powerlink completed a rigorous assessment process and was accepted as a UEP Recommended Supplier in early 2010.
Citizens Bancshares Corp.
President and CEO: Cynthia N. Day
After being groomed to assume the helm, Cynthia Day is ready to navigate Citizens Bancshares Corp. into the future. Day was named president and CEO of the Atlanta-based bank holding company and its main subsidiary, Citizens Trust Bank, in February. With assets of $397.2 million in 2011, Citizens Trust ranks No. 6 on the BE Banks list.
Day, 47, became the bank’s skipper after the death of James E. Young, the bank’s president and CEO since 1998. Day started working with Young to succeed him in 2005 when she became executive vice president of management services. Under Young’s guidance, she worked on all aspects of the bank including new product development and an acquisition strategy.
Citizens Trust has 11 branches throughout metro Atlanta and Columbus, Georgia, as well as Birmingham and Eutaw, Alabama. The bank employs 107 and serves some 6,000 consumer and commercial customers. Day’s appointment came when the bank posted the results of what was a challenging 2011. Net income for the bank slipped to $32,000, down from $316,000 in 2010, and generated revenue of $21.5 million versus $23.7 million the prior year.
The bank’s strategy this year includes getting rid of about $21 million in non-performing assets. Moreover, Citizens Trust is redesigning its online banking platform to improve its ease of use for customers and is employing Facebook, Twitter, and other social media strategies to attract more young professional customers. Citizens Trust wants to expand its footprint and is looking for acquisition opportunities in Alabama, Georgia, and the Carolinas, says Day.
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