Press Releases

MANSFIELD, PA - Randall E. Black, CEO & President of Citizens Financial Services, Inc. and First Citizens Community Bank, was recently named as a Class A Director of the Federal Reserve Bank of Philadelphia.  

As a Class A Director, Black will aid the board as they oversee the Philadelphia Federal Reserve Bank’s operations, offer observations on economic conditions, and establish the Bank’s discount rate. Additionally, the directors are a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. The Federal Reserve Bank of Philadelphia supervises state member banks, bank holding companies, and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System.

Black joined the First Citizens organization in 1993 and prior to being named CEO & President, he served as controller, Senior Vice President of Finance, and Chief Financial Officer.  When Black assumed leadership of First Citizens in 2004, the bank’s asset size was $469 million and they operated just 15 offices in 3 counties in the northern tier of Pennsylvania.  Today, First Citizens asset size is $1.9 billion and they now operate 31 offices in 14 counties in PA, NY, and DE.  For the past 13 years, the bank has been ranked one of the top-performing community banks in the nation and is now one of the leading Agricultural lenders.

“It is a privilege to serve as a director for the Federal Reserve Bank of Philadelphia,” said Black. “I am hopeful that my years of experience in the financial services industry will assist them in accomplishing their vital mission of shaping monetary policy and promoting fair access to credit.”   

For 28 years, Black has dedicated his efforts to more than the progression of First Citizens, but to the overall advancement of the financial services sector and Agricultural banking.  He is actively involved in many professional and community organizations, including the board positions he holds with Penn State University, the PA Bankers Association (serving as past chairman for Group 4), the Betterment Organization of Mansfield, and the Fund for Northern Tier Development, to name a few.

Black received a Master of Banking degree from the Graduate School of Banking at Louisiana State University and earned his BS, Cum Laude, from Bloomsburg University. Black is also a graduate of the American Bankers Association School of Bank Investment and Financial Management.

First Citizens Community Bank (FCCB) offers a strong line of mortgage and real estate loans, high-interest rewards checking, trust and investment services, and cash management services that help businesses save time and money. They are headquartered in Mansfield, Pennsylvania, and currently operate 31 offices throughout Tioga, Bradford, Potter, Clinton, Centre, Union, Lebanon, Lancaster, Schuylkill, Berks, and Chester counties in Pennsylvania, Allegany County, New York, and New Castle, and Kent Counties in Delaware. For more information about First Citizens, call (800) 326-9486, visit www.myfccb.com or find them on Facebook and LinkedIn.