Citizens Bank Forms Asset-Based Lending Group
08 Mayo 2006 - 10:46AM
PR Newswire (US)
FLINT, Mich., May 8 /PRNewswire-FirstCall/ -- Citizens Bank is
pleased to announce that it has formed Citizens Bank Business
Finance, an asset-based lending unit. The unit operates from
offices located at Seven Mile Crossing, Suite 290, 38701 Seven Mile
Road, Livonia, Michigan, 48152. William R. Hartman, President,
Chairman and CEO announced, "The formation of Citizens Bank
Business Finance is part of our overall strategy to expand our
commercial loan portfolio, augment our commercial lending product
set, and enhance our ability to deliver customized financial
solutions to commercial clients and the marketplace." Citizens Bank
Business Finance targets middle-market companies located throughout
the Midwest with revenues ranging from $20 - $150 million. Citizens
Bank Business Finance focuses on providing asset-based financing
solutions to businesses facing a transition event such as growth,
ownership change or restructuring. Products include working capital
revolving credits, machinery and equipment and real estate term
financing and DIP facilities ranging from $3 - $20 million. The
unit will also participate in larger asset-based transactions.
Citizens Bank Business Finance team consists of seasoned
asset-based lending professionals with over 100 years of combined
experience in structuring financial solutions to fit middle-market
borrowers' specific needs. For more information, contact: Mark
Widawski, President, at 248-324-8643 or Ray Green, Executive Vice
President, at 248-324-8642 or Brian Banning, First Vice President,
at 248-324-8646 or Tim Hanchett, Senior Vice President, at
248-324-8640 or Chuck Stephenson, Senior Vice President, at
248-324-8644 or Jaime Vartanian, Vice President, at 248-324-8645 or
Tim McLaughlin, Senior Vice President, at 248-324-8641 or Citizens
Banking Corporation (NASDAQ:CBCF) is a diversified financial
services company providing a wide range of commercial, consumer,
mortgage, trust, and financial planning services to a broad client
base. Citizens Banking Corporation serves markets through Citizens
Bank offices in Michigan and Wisconsin, and through F&M Bank
offices in Iowa. Citizens Banking Corporation has roots going back
to 1871 in Flint, Mich., and is the second- largest bank holding
company headquartered in Michigan. Citizens is the 64th largest
bank holding company in the United States. More information about
Citizens Banking Corporation is available at
http://www.citizensonline.com/ . (Logo:
http://www.newscom.com/cgi-bin/prnh/20050421/CBCFLOGO )
http://www.newscom.com/cgi-bin/prnh/20050421/CBCFLOGO
http://photoarchive.ap.org/ DATASOURCE: Citizens Bank CONTACT:
Perashina LaMotte of Citizens Bank, +1-810-766-7757 Web site:
http://www.citizensonline.com/
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