Press Room
Citizens Bank of West Virginia, the wholly owned subsidiary of Citizens Financial Corp. (OTCID: CIWV), is proud to announce its recognition by American Banker as one of the top-performing publicly traded banks under $2 billion in assets. Ranked No. 19 nationwide and the only West Virginia bank included on the list, this achievement highlights Citizens Bank’s consistent financial performance, disciplined growth, and commitment to exceptional service.
This marks Citizens Bank’s fifth appearance on American Banker’s Top Performing Banks list, but its first time reaching the Top 20 segment, reinforcing its reputation for consistently strong financial performance and its focus on building long-term value for shareholders.
Nathaniel S. Bonnell, President & CEO of Citizens Bank of West Virginia is pleased to announce the promotion of a two team members and the addition of two new officers, reinforcing the bank’s continued commitment to serving the financial needs of its communities.
William “Bill” Phillips has been promoted to Assistant Vice President & Commercial Lender. A member of the Citizens Bank team since 1998, Phillips brings nearly 30 years of banking experience to his role. He managed the Beverly Financial Center for eleven years before transitioning to Financial Center Manager & Commercial Lender, where he managed both the Elkins and Beverly Financial Centers. Earlier this year, he was promoted to Assistant Vice President.
In his new role, Phillips will leverage his extensive experience to support local businesses in achieving their financial goals through customized lending solutions.
Citizens Bank of West Virginia has announced the retirements of two valued team members at our Thomas Financial Center. Vice President & Financial Center Manager Shawn O. Nichols, will retire on Thursday, June 25, 2026, and IT Coordinator Jeffery W. Lipscomb, will retire on Tuesday, June 30, 2026. Both Nichols and Lipscomb devoted the majority of their banking careers to Miners & Merchants Bank prior to its acquisition by Citizens in March 2026 and continued their service through the transition.
Nichols began his banking career with Miners & Merchants Bank in 1994 as a Loan Officer. Over the course of his 32-year career, he advanced through a series of leadership roles, including Vice President & Cashier and President & CEO. Following the acquisition in March 2026, Nichols joined Citizens Bank of West Virginia as Vice President & Financial Center Manager, a position he held until his retirement.
