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, President and Chairman
William R. Hartman, CEO |
| Industry | Finance |
| Products | Financial Services |
| Employees | 2,735 (as of March 31, 2007) |
| Website | citizensbanking.com |
Citizens Republic Bancorp known as Citizens Bank (NASDAQ: CRBC) is an American bank headquartered in Flint, Michigan, and operates in the states of Michigan, Ohio, Indiana, Wisconsin and Iowa.
Citizens is the largest bank holding company headquartered in Michigan with assets of $13.3 billion. It is the 45th largest bank holding company based in the United States. A network of 241 bank offices, private banking and financial center locations and approximately 269 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.
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[edit] Early history
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.
[edit] Acquisitions
Citizens Bank formed a holding company, Citizens Banking Corporation, in 1981 to acquire additional banks. Banks acquired were Grayling State Bank and State Bank of Standish in 1984, Second National Bank of Saginaw and Second National Bank of Bay City in 1985, Commercial National Bank of Berwyn, Illinois in 1987, the National Bank of Royal Oak in 1993, the former East Lansing State bank and three other Michigan banks owned by Bank One in 1995, F&M Bank in Wisconsin, Minnesota and Iowa in 1999 and Republic Bank in 2006. The merger of Republic Bank's Ann Arbor--based parent Republic Bancorp led to the formation of a new holding company, Citizens Republic Bancorp. In order for the Federal Reserve Bank to approve the merger with Republic Bank, Citizens sold seven local Republic Bank branches to First Place Financial to operate as Franklin Bank.
[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 not a change at all
When the colors come and go, means there's rain or snow.
[edit] External links
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