Citizens Trust Bank Acquires the Peoples Bank Full Service Branch in Lithonia, Georgia

/PRNewswire / -- Citizens Trust Bank, the banking subsidiary of Citizens Bancshares Corporation, is pleased to announce that it has completed the purchase of the Peoples Bank branch in Lithonia, Georgia. The acquisition of the Lithonia branch of Peoples Bank will provide Citizens Trust Bank with an estimated $50 million in additional deposits and a projected $400 million in total assets.

Under the leadership of President and CEO, James E. Young, Citizens Trust Bank is living up to its commitment to its shareholders and customers by continuing to grow while maintaining a strong and solid foundation. "We believe the purchase of this branch will add significantly to our already strong presence in DeKalb County. We welcome our new Lithonia associates to our family and are looking forward to working with them," stated Young. "Together, we are able to offer the customers personalized service with a familiar face and a more convenient banking experience."

The addition of the new location will increase Citizens Trust Bank's financial centers from 10 to 11, throughout Georgia and Alabama. Our new customers of Lithonia can look forward to the convenience of having more locations to do their banking. Citizens Trust Bank has completed several successful mergers and acquisitions; therefore we believe the transition for our customers from Peoples Bank to Citizens Trust Bank will be seamless.

Citizens Bancshares Corporation is a holding company that provides a full range of commercial and personal banking services to individual and corporate customers. Citizens Trust Bank, formed in 1921, is committed to enabling their customers and the community to realize dreams of economic empowerment. As a leader in the financial services industry, Citizens Trust Bank operates under a state charter and currently serves Georgia and Alabama with eleven financial centers. As of September 30, 2008, Citizens Bancshares Corporation had total consolidated assets of approximately $335 million, net loans of approximately $212 million, total deposits of approximately $287 million, and shareholders' equity of approximately $33 million. For more information on Citizens Trust Bank please visit www.CTBconnect.com.

Sandler O'Neill + Partners L.P. served as financial advisor to Citizens Trust Bank in the acquisition and Hunton & Williams LLP served as legal advisor to Citizens Trust Bank.

Statements concerning future performance, events, expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties that might cause actual results to differ materially from stated expectations. Specific factors include, but are not limited to, the ability to continue to grow Citizens Trust Bank and the services it provides, the ability to successfully integrate new business lines and expand into new markets, competition in the marketplace and general economic conditions. The information contained in this release should be read in conjunction with the consolidated financial statements and notes included in Citizens Bancshares Corporation's most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Results of operations for the most recent quarter are not necessarily indicative of operating results for any future periods. Any projections in this release are based on limited information currently available to management, which is subject to change. Although any such projections and the factors influencing them will likely change, the bank will not necessarily update the information, since management will only provide guidance at certain points during the year. Such information speaks only as of the date of this release. Additional information on these and other factors that could affect our financial results are included in filings by Citizens Bancshares Corporation with the Securities and Exchange Commission.

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Citizens Trust Bank Announces Purchase Agreement for a Full Service Branch in Lithonia, Georgia

/PRNewswire-FirstCall/ -- Citizens Trust Bank, the banking subsidiary of Citizens Bancshares Corporation, is pleased to announce the signing of a definitive agreement for its purchase of The Peoples Bank branch in Lithonia, Georgia. The agreement with The Peoples Bank provides for Citizens Trust Bank's purchase of approximately $51.5 million in deposits. Upon consummation of the purchase, which is subject to regulatory approvals, the Lithonia branch will become Citizens Trust Bank's 11th financial center and will be located at 3065 Stone Mountain Street. The acquisition of the branch is expected to be completed in the first half of 2009.

"We are looking forward to expanding our full banking services in the Lithonia market and welcome the opportunity to service the customers, who are currently banking at that location," stated James E. Young, President and CEO of Citizens Trust Bank. "We believe the purchase of this branch will add significantly to our already strong presence in DeKalb County."

Citizens Bancshares Corporation is a holding company that provides a full range of commercial and personal banking services to individual and corporate customers. Citizens Trust Bank, formed in 1921, is committed to enabling their customers and the community to realize dreams of economic empowerment. As a leader in the financial services industry, Citizens Trust Bank operates under a state charter and currently serves Georgia and Alabama with ten financial centers. As of September 30, 2008, Citizens Bancshares Corporation had total consolidated assets of approximately $335 million, net loans of approximately $212 million, total deposits of approximately $287 million, and shareholders' equity of approximately $33 million. For more information on Citizens Trust Bank please visit www.CTBconnect.com.

Sandler O'Neill + Partners L.P. served as financial advisor to Citizens Trust Bank in the acquisition and Hunton & Williams LLP served as legal advisor to Citizens Trust Bank.

Statements concerning future performance, events, expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties that might cause actual results to differ materially from stated expectations. Specific factors include, but are not limited to, the ability to continue to grow Citizens Trust Bank and the services it provides, the ability to successfully integrate new business lines and expand into new markets, competition in the marketplace and general economic conditions. The information contained in this release should be read in conjunction with the consolidated financial statements and notes included in Citizens Bancshares Corporation's most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Results of operations for the most recent quarter are not necessarily indicative of operating results for any future periods. Any projections in this release are based on limited information currently available to management, which is subject to change. Although any such projections and the factors influencing them will likely change, the bank will not necessarily update the information, since management will only provide guidance at certain points during the year. Such information speaks only as of the date of this release. Additional information on these and other factors that could affect our financial results are included in filings by Citizens Bancshares Corporation with the Securities and Exchange Commission.

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Acuity Brands Announces Offer to Purchase for Cash Any and All of Its Outstanding $160,000,000 6% Notes Due 2009

(BUSINESS WIRE)--Acuity Brands, Inc. (NYSE: AYI) (the “Company”) today announced that it has commenced a cash tender offer to purchase any and all of its outstanding 6% Notes due 2009 (CUSIP No. 00508YAA0) (the “Notes”). The tender offer is being made pursuant to an Offer to Purchase dated today (the “Offer to Purchase”) and related Letter of Transmittal, which more fully set forth the terms and conditions of the tender offer. As of December 1, 2008, the aggregate principal amount of Notes outstanding was $160 million.

The tender offer is scheduled to expire at 5:00 p.m., New York City time, on December 9, 2008, unless extended or earlier terminated. The Company expects to pay for Notes validly tendered and not withdrawn in the tender offer promptly following the expiration of the tender offer.

The purchase price being offered for the Notes is $990.00 per $1,000.00 principal amount of Notes validly tendered and accepted for purchase, plus the accrued and unpaid interest to but excluding the applicable settlement date. The settlement date will be the first business day following the date on which the tender offer expires, or as soon thereafter as practicable.

Except as set forth in the Offer to Purchase or as required by applicable law, Notes tendered may be withdrawn only on or before the expiration of the tender offer, and tendered Notes may not be withdrawn after the expiration of the tender offer.

The tender offer is subject to certain customary conditions but is not conditioned on the tender of a minimum principal amount of the Notes. The Company is not soliciting consents from holders of Notes in connection with the tender offer.

The Company has retained Citi to serve as the dealer manager for the tender offer and has retained Global Bondholder Services Corporation to serve as the depositary and information agent for the tender offer. Requests for copies of the Offer to Purchase and related Letter of Transmittal may be directed to Global Bondholder Services Corporation by telephone at 212-430-3774 or 866-540-1500, or in writing at 65 Broadway – Suite 723, New York, NY, 10006, Attention: Corporate Actions. Questions regarding the tender offer may be directed to Citi at 800-558-3745 or 212-723-6106.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The tender offer is made only by and pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal. None of the Company, the dealer manager or the depositary and information agent makes any recommendations as to whether holders should tender their Notes pursuant to the tender offer. Holders must make their own decisions as to whether to tender Notes and, if so, the principal amount of Notes to tender.

Acuity Brands, Inc. owns and operates Acuity Brands Lighting, Inc. and Acuity Brands Technology Services, Inc. With fiscal year 2008 net sales of over $2.0 billion, Acuity Brands Lighting and Acuity Brands Technology Services combined are one of the world's leading providers of lighting fixtures and related products and services and include brands such as Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lighting™, Hydrel®, American Electric Lighting®, Gotham®, Carandini®, SpecLight®, MetalOptics®, Antique Street Lamps™, Synergy® Lighting Controls, SAERIS™, and ROAM®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,300 associates and has operations throughout North America and in Europe and Asia.

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Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia

Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia (now operating as Essex Bank, a division of Bank of Essex) into the Bank of Essex Family


Community Bankers Trust Corporation (the “Company” or “CBTC”) (AMEX:BTC) is pleased to announce that Bank of Essex (BOE), a wholly-owned, Virginia state-chartered banking subsidiary of the Company, has entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC), as receiver for The Community Bank, Loganville, Georgia (TCB), providing for the assumption by BOE, effective 6:00 pm Friday, November 21, 2008, off all deposit liabilities and to purchase certain assets of TCB.

BOE is assuming approximately $600 million in deposits, approximately $250 million of which are deemed to be core deposits. BOE has agreed to pay the FDIC a premium of 1.36% on all deposits, excluding all brokered and Internet deposits. Other than loans fully secured by deposit accounts, BOE is not purchasing any loans at this time, but will be providing loan servicing to TCB’s existing loan customers. BOE has sixty days to evaluate and, at its sole option, purchase any of the TCB loans. All deposits have been fully assumed and all insured deposits maintain their current insurance coverage. The existing branches of TCB will open Monday morning as Essex Bank, a division of Bank of Essex. TCB operates four branches in the greater Atlanta, Georgia market, Loganville, Walton County, Georgia; Covington, Newton, County, Georgia; Grayson, Gwinnett County, Georgia; and Snellville, Gwinnett County, Georgia.

George M. Longest, Chief Executive Officer of CBTC and BOE said, ”Since 1926, Bank of Essex has had a proud history of operating as a core community bank, serving its local community though conservative lending and prudent balance sheet management. This year we continued this tradition with the addition of TransCommunity Bank, N.A., which was recently merged into BOE. Today, we stand solid with one of the strongest balance sheets in the industry, with capital levels well above our peers. TCB is a true community bank and has proudly served its community since 1946. It has been the premier community bank in the markets that it serves. We look forward to working with the employees of TCB in building an even stronger community banking team and serving the needs of our combined customers and the local communities in which we operate. We are excited about the opportunities that lay before us in the greater Atlanta market. Monday morning, customers of TCB, as customers of Essex Bank, will find it is business as usual with the same friendly staff and the same desire to provide full personal service and attention to our customers.”

Gary A. Simanson, Vice-Chairman of the Company, commented, “part of our strategic plan, in addition to operating a core community bank, has been to build a franchise through select acquisition opportunities and reach out to attractive markets beyond the Commonwealth of Virginia. We find the addition of TCB to our franchise to be such an opportunity. Not only are we teaming up with a true, long established community bank, in some of the highest growth markets in the Country, we are making a statement that we are open to looking at further opportunities should they arise in this market. We believe that we demonstrated the appropriate pricing discipline in approaching this transaction and anticipate that the transaction will be accretive to earnings within the first full quarter of combined operations. While there are always execution risks in any transaction, we feel that the long operating history of TCB in its local community helps limits these risks. The local culture of TCB is much like that of the Bank of Essex. Additionally, we are not taking on any credit risk in this transaction. These are interesting times in the banking industry and with our strong capital position and experienced banking team we look forward to continuing to build both a highly respected community banking franchise and long-term shareholder value. We appreciate the assistance of our regulators in consummating this transaction and will endeavor to work with them closely to see that the banking needs of the local communities will continue to be well served.”

About Community Bankers Trust Corporation.

CBTC is a well-capitalized, single-bank holding company headquartered in the greater Richmond, Virginia market, with approximately $1.3 billion in assets, $1.1 million in deposits, $500 million in loans, and $150 million in capital. It operates 13 full service banking facilities from Virginia’s Chesapeake Bay to the Shenandoah Valley under the Bank of Essex, Bank of Goochland, Bank of Powhatan, Bank of Louisa and Bank of Rockbridge brand names and four branches in the greater Atlanta, Georgia market under the Essex Bank brand name. Additional information is available on the Company’s website at www.cbtrustcorp.com. The shares of the Company are traded on the American Stock Exchange (AMEX) under the symbol “BTC”.

Forward-Looking Statement:

This release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Facts that may cause actual results to differ materially from those contemplated by such forward-looking statements include competitive pressures in the banking industry that may increase significantly; changes in the interest rate environment may reduce margins and/or the volumes and values of loans made or held as well as the value of other financial assets held; general economic conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, deterioration in credit quality and/or a reduced demand for credit or other services, changes in the legislative or regulatory environment, including changes in accounting standards, may adversely affect our business; costs or difficulties; related to the integration of the business and the businesses we have acquired may be greater than expected; expected cost savings associated with recently completed acquisitions may not be fully realized or realized within the expected time frame; our competitors may have greater financial resources and develop products that enable them to compete more successfully; changes in business conditions, changes in the securities market and changes in our local economy with regards to our market area. We assume no obligation to update information contained in this release.

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Colonial BancGroup Announces Status of the U.S. Treasury’s Capital Purchase Program Application

(BUSINESS WIRE)--The Colonial BancGroup, Inc. (NYSE: CNB) is making the following announcement in order to correct what it perceives to be misinformation in the market place. Colonial has, in fact, applied for participation in the TARP Capital Purchase Program. Its application was delivered to the FDIC in a timely manner. While assurances can not be given as to the outcome of the application, Colonial has been given no information that would lead it to doubt that its application is not being processed through the normal channels. At this time, it is not possible to project when we will receive an answer to the application.

Colonial BancGroup operates 344 branches in Florida, Alabama, Georgia, Nevada and Texas with over $26 billion in assets. The Company’s common stock is traded on the New York Stock Exchange under the symbol CNB and is located online at www.colonialbank.com. In some newspapers, the stock is listed as ColBgp.

This release includes “forward-looking statements” within the meaning of the federal securities laws. Words such as “believes,” “estimates,” “plans,” “expects,” “should,” “may,” “might,” “outlook,” “potential” and “anticipates,” the negative of these terms and similar expressions, as they relate to The Colonial BancGroup, Inc. (BancGroup) (including its subsidiaries or its management), are intended to identify forward-looking statements. The forward-looking statements in this release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. In addition to factors mentioned elsewhere in this release or previously disclosed in BancGroup’s SEC reports (accessible on the SEC’s website at www.sec.gov or on BancGroup’s website at www.colonialbank.com), the following factors, among others, could cause actual results to differ materially from forward-looking statements and future results could differ materially from historical performance. These factors are not exclusive:

* losses to our loan portfolio are greater than estimated or expected;
* an inability to raise additional capital on terms and conditions that are satisfactory;
* the impact of current economic conditions on our ability to borrow additional funds to meet our liquidity needs;
* economic conditions affecting real estate values and transactions in BancGroup’s market and/or general economic conditions, either nationally or regionally, that are less favorable then expected;
* changes in the interest rate environment which expand or reduce margins or adversely affect critical estimates as applied, projected returns on investments, and fair values of assets;
* deposit attrition, customer loss, or revenue loss in the ordinary course of business;
* increases in competitive pressure in the banking industry and from non-banks;
* costs or difficulties related to the integration of the businesses of BancGroup and institutions it acquires are greater than expected;
* the inability of BancGroup to realize elements of its strategic plans for 2008 and beyond;
* natural disasters in BancGroup’s primary market areas which result in prolonged business disruption or materially impair the value of collateral securing loans;
* management’s assumptions and estimates underlying critical accounting policies prove to be inadequate or materially incorrect or are not borne out by subsequent events;
* the impact of recent and future federal and state regulatory changes;
* current and future litigation, regulatory investigations, proceedings or inquiries;
* strategies to manage interest rate risk may yield results other than those anticipated;
* changes which may occur in the regulatory environment;
* a significant rate of inflation (deflation);
* unanticipated litigation or claims;
* acts of terrorism or war; and
* changes in the securities markets.

Many of these factors are beyond BancGroup’s control. The reader is cautioned not to place undue reliance on any forward looking statements made by or on behalf of BancGroup. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. BancGroup does not undertake any obligation to update or revise any forward-looking statements.

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