August 16: The doors of Citizens Trust Company were opened on Sweet Auburn Avenue with $500,000 in capital stock. The goals of the new bank were threefold: to promote financial stability and business development, to stress the principles of thrift and to make home ownership possible to a larger number of African-American people.

The early years at Citizens Trust were ones of excitement, pride and joy. Customers eagerly lined up to make deposits of their hard-earned money into a bank which they could call their own. As a new bank, Citizens Trust had to overcome many obstacles, which were inherent in serving an economically disadvantaged community with limited to no access to financial services. An even greater challenge to overcome was the severe economic depression of the late 1920s and early 1930s. Citizens Trust Company, blessed with strong management, survived.