The group felt that there was a potential risk the bank could be bought out by a corporate bank which would take local decision making away from our community. The decision by these eight members to purchase the stock was largely based on the desire for the bank to remain locally owned and operated. Bugg formed Citizens National Bancorp and purchased the bank, which at that time had grown to approximately $ 35 million in assets.
Since its inception, the bank has attempted to serve the needs of all citizens in Lebanon and Marion County and to serve each and every customer in a manner in which the honesty and integrity of the bank's owners and employees could never be questioned or challenged. Citizens National Bank was formed Mawhen its shareholders purchased the National Bank of Lebanon and located its operations in a portion of the same building that our present bank occupies.
