Jeff Teague named chairman and CEO of Citizens Bancshares after sale of auto dealerships to NBA legend Karl Malone

by Talk Business & Politics staff ([email protected]) 2,125 views 

Jeff Teague has been appointed Citizens Bancshares chairman and CEO. Citizens Bancshares of Batesville, Inc. is the holding company for Citizens Bank of Batesville.

In his role with the holding company, Teague will help guide the policies of Citizens Bank, which recently announced leadership changes with Adam Mitchell stepping into the bank’s CEO role in April 2021.

“Our shared ‘People First’ mindset is exactly why Citizens Bank is where I want to spend my time,” said Teague. “I am proud to be part of its progressive leadership team and work with the bank’s CEO, Adam Mitchell, as the bank continues to serve Arkansans with excellence.”

On Wednesday, (June 23) Teague finalized the sale of his El Dorado-based auto dealership company, Teague Auto Group, to former NBA legend Karl Malone.

Teague’s involvement in Citizens Bank goes beyond the official position. The bank was founded by the grandfather of his wife, Sarah, more than 60 years ago.

“Jeff has been a dedicated teammate for years. We look forward to his increased attention to our community-focused bank,” said Adam Mitchell, CEO of Citizens Bank. “He is a trusted community partner and committed to enhancing our ‘Beyond Banking’ solutions.”

Jeff Teague.

Teague is a graduate of Dumas High School and went on to earn a degree in math from Ouachita Baptist University in 1978.

According to a biography provided by the National Automobile Dealers Association, he worked in auto sales and for Arkansas Power & Light Co. until 1981, when he and his father bought a Chevrolet-Oldsmobile dealership in Walnut Ridge.

Teague was named Time magazine’s national Dealer of the Year for 2014. Teague has served the community in many capacities through various organizations including Rotary International, chairman of the South Arkansas Regional Airport Commission, El Dorado Economic Development Board, member of the Arkansas State Police Commission, and two local chambers of commerce.