Citizens Republic Bancorp
From Wikipedia, the free encyclopedia
| Citizens Republic Bancorp | |
 |
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| Type | Public (NASDAQ: CRBC) |
|---|---|
| Founded | 1871 |
| Headquarters | Flint, MI |
| Key people | Jerry D. Campbell, Chairman
William R. Hartman, CEO Dana M. Cluckey, President and COO |
| Industry | Finance |
| Products | Financial Services |
| Employees | 2,123 (pre-merger) |
| Slogan | Let's make it happen. |
| Website | http://www.citizensonline.com |
Citizens Republic Bancorp (formerly Citizens Banking Corp.) (NASDAQ: CRBC) is an American bank headquartered in Flint, Michigan, and operates in the states of Michigan, Ohio, Indiana, Wisconsin and Iowa.
Citizens was first established in 1871 at the height of Flint's great lumber industry. Citizens Bank played a key role in the development of the auto industry in this country. One of the founders of General Motors, William C. Durant, has acknowledged that a loan he and his partner, J. Dallas Dort, received from Citizens Bank in 1886 enabled him to start his vehicle manufacturing career.
Citizens ranks as the second largest bank holding company headquartered in Michigan with assets of $7.752 billion at December 31, 2005. The announcement of Comerica moving its headquarters to Dallas, Texas will make Citizens the largest Michigan-based bank holding company.[1] A network of 183 bank offices, private banking and financial center locations and approximately 187 ATM's throughout Michigan, Wisconsin, and Iowa, provide banking convenience to the nearly 538,000 households. Citizens owns two banking subsidiaries including Citizens Bank, headquartered in Flint, Michigan and F&M Bank-Iowa, headquartered in Marshalltown, Iowa. Citizens owns indirectly four non-banking subsidiaries through its Michigan banking subsidiary. Citizens' banks are full service commercial banks offering a variety of financial services to corporate, commercial, correspondent and individual bank clients. These services include commercial, mortgage and consumer lending, demand and time deposits, safe deposit facilities and other financial products and services. Citizens offers through its trust bank, Citizens Bank Wealth Management, trust services, investment services, retirement planning and asset management services.
[edit] Weatherball
The symbol of the bank is the weatherball located atop its headquarters in downtown Flint and was built in 1956. The Weatherball poem is:
When the weatherball is red, higher temperatures ahead
When the weatherball is blue, lower temperatures are due
Yellow light in weatherball means there'll be no change at all
When colors blink in agitation, there's going to be precipitation
[edit] Merger with Republic Bancorp
On June 27, 2006, Citizens Banking Corp. and Ann Arbor, Michigan based Republic Bancorp announced a merger with Citizens buying Republic for $1.048 billion in stock and cash. The merged company will be called Citizens Republic Bancorp. [2] The merger has been approved by stockholders of both companies and the Federal Reserve System and the two banks formally merged on December 29, 2006 with the merged stock traded beginning January 3, 2007.[3] Eighteen overlapping branches were consolidated and seven branches sold to First Place Financial Corporation to operate as Franklin Bank.[4] Remaining Republic Bank branches will become Citizens Bank branches in the second quarter of 2007.[5]
[edit] External links
| Commercial banks in the United States |
|---|
| Apple Bank • Arvest Bank • Bank of America • Bank of the West • BB&T • Capital One Bank • Chase • Citibank • Citizens Bank (Rhode Island)/ Charter One • Citizens Bank (Michigan) • Comerica • Commerce Bank • Commerce National • Compass Bank • Fifth Third Bank • First Tennessee Bank • Harris Bank • HSBC • Huntington • Key Bank • LaSalle Bank/LaSalle Bank Midwest • M&T Bank • Marshall & Ilsley • National City • North Fork Bank • PNC Bank • RBC Centura • Regions Bank • Sovereign Bank • SunTrust Bank • TCF Bank • TD Banknorth • Union Bank of California • U.S. Bank • Wachovia • Washington Mutual • Wells Fargo • Zions Bancorp |
