Citizens Bancshares Corp. (CZBS)

[norweger1979]

New 13g filing for a substantial new shareholder (6.1%), filed 3/3/2016


Name of Person Filing:

This statement is being filed by Context BH Capital Management, LP (“Context BH Capital Management”) with respect to 116,768 shares of Common Stock directly owned by Context BH Partners LP (the “Fund”), of which the General Partner is CCP BH III, LP, and 9,571 shares of Common Stock directly owned by private investment funds to which Context BH Capital Management acts as sub-adviser to the adviser to such private investment funds (the “Sub-Advised Funds”).

Context BH Capital Management is the investment manager of the Fund and thereby exercises investment discretion over its accounts and accordingly may be deemed to have beneficial ownership over the shares of Common Stock directly owned by the Fund. Context BH Capital Management is the sub-adviser to the Sub-Advised Funds and thereby exercises investment discretion over its accounts and accordingly may be deemed to have beneficial ownership over the shares of Common Stock directly owned by the Sub-Advised Funds.



The principal business office address of Context BH Capital Management is:

401 City Avenue, Suite 815
Bala Cynwyd, Pennsylvania 19004


The new share postion of 126,338 shares (6.1%) represents VERY close the TOTAL trading volume from 2/23/2016 to 3/2/2016.