Citizens Banking Corporation and Republic Bancorp Inc. Announce Branch Consolidation
18 Diciembre 2006 - 8:02AM
PR Newswire (US)
FLINT, Mich. and ANN ARBOR, Mich., Dec. 18 /PRNewswire-FirstCall/
-- Citizens Banking Corporation ("Citizens") (NASDAQ:CBCF) and
Republic Bancorp Inc. ("Republic") (NASDAQ:RBNC) today announced
the branch offices that will be consolidated as a result of the
merger of the two companies. The locations, which are all in
Michigan, to be consolidated are: * Rochester: 439 Main Street,
Suite 120 will consolidate into 175 South Livernois Road * Auburn
Hills: 3271 Five Points Drive will consolidate into 3005 University
Drive * Clawson: 250 East 14 Mile Road will consolidate into 4710
Rochester Road in Royal Oak * Northville: 20550 Haggerty Road will
consolidate into 39901 West Eight Mile Road * Livonia: 32200
Schoolcraft Road will consolidate into 39901 West Eight Mile Road
in Northville * Flint: 460 South Saginaw Street will consolidate
into 328 South Saginaw Street * Flushing: 1559 East Pierson Road
will consolidate into G-6452 West Pierson Road * Flint Township:
1165 South Linden Road will consolidate into 1373 South Linden Road
* Fenton: 120 East Silver Lake Road will consolidate into 226 W.
Caroline * Jackson: 2229 Fourth Street will consolidate into 2030
Fourth Street * Jackson: 306 West Michigan Avenue will consolidate
into 100 East Michigan Avenue * Jackson: 2201 East Michigan Avenue
will consolidate into 1712 East Michigan Avenue * Jackson: 904
North Wisner Street will consolidate into 1111 W. North Street *
Okemos: 5100 Marsh Road, Building 1A will consolidate into 5050
Marsh Road, Suite 1 * East Lansing: 101 East Grand River will
consolidate into 1331 East Grand River * Ann Arbor: 900 Victors
Way, Suite 160 will consolidate into 2100 South Main Street, Suite
E * Traverse City: 534 East Front Street will consolidate into 1061
East Front Street * Alpena: 150 South Ripley Blvd. will consolidate
into 200 West Chisolm Street Citizens and Republic expect to
complete the merger transaction on December 29, 2006. The
consolidation of the branches is scheduled to be completed in the
second quarter of 2007. Clients who bank at these branch offices
will be notified by mail. The consolidation will not affect their
accounts, which will be transferred to other Citizens Bank
locations. About Citizens Banking Corporation Citizens Banking
Corporation is a diversified financial services company providing a
wide range of commercial, consumer, mortgage banking, 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, with 181 branch, private banking, and
financial center locations and 196 ATMs, is the 69th largest bank
holding company in the United States, with assets of $7.7 billion
as of Sept. 30, 2006. More information about Citizens Banking
Corporation is available at http://www.citizensonline.com/ . About
Republic Bancorp Inc. Republic Bancorp Inc., with $6.2 billion in
assets, is the third largest bank holding company headquartered in
Michigan and the 82nd largest bank holding company in the country.
Its subsidiary, Republic Bank, serves customers in Michigan, Ohio
and Indiana with 88 retail, commercial and mortgage banking offices
and 90 ATMs. Republic has consistently been the #1 Small Business
Administration bank lender based in Michigan and one of the
Midwest's top retail mortgage lenders. Republic was named the 17th
Best Company to Work For by FORTUNE magazine (marking the sixth
year on FORTUNE's "100 Best Companies to Work For" list) and named
to Working Mother magazine's list of "100 Best Companies for
Working Mothers" for the sixth year in a row. More information
about Republic Bancorp Inc. is available at
http://www.republicbancorp.com/ . Safe Harbor Statement Discussions
in this release that are not statements of historical fact
(including statements that include terms such as "will," "may,"
"should," "believe," "expect," "anticipate," "estimate," "intend,"
and "plan") are forward-looking statements that involve risks and
uncertainties. Any forward- looking statement is not a guarantee of
future performance and actual results could differ materially from
those contained in the forward-looking information. Such
forward-looking statements include, but are not limited to,
statements about the benefits of the business combination
transaction involving Citizens and Republic, including future
financial and operating results, the new company's plans,
objectives, expectations and intentions and other statements that
are not historical facts. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: the risk that the businesses will not
be integrated successfully; deposit attrition and disruption from
the transaction making it more difficult to maintain relationships
with customers, employees or suppliers; the risk that the cost
savings and any other synergies from the transaction may not be
fully realized or may take longer to realize than expected;
competition and its effect on pricing, spending, third-party
relationships and revenues; movements in market interest rates and
secondary market volatility; divestitures assumed and/or required;
potential conditions that may affect the tax-free status of the
Republic stock exchange for Citizens' common shares; and
unfavorable changes in economic and business conditions or the
regulatory environment. Additional factors that may affect future
results are contained in Citizens' and Republic's filings with the
SEC, which are available at the SEC's web site http://www.sec.gov/
. Citizens and Republic disclaim any obligation to update and
revise statements contained in these materials based on new
information or otherwise. DATASOURCE: Republic Bancorp Inc.;
Citizens Banking Corporation CONTACT: Donald Hoffman, Public
Relations of Citizens Banking Corporation, +1-810-237-4986, ; or
Kristine D. Brenner, Investor Relations of Republic Bancorp Inc.,
+1-989-725-7337, Web site: http://www.republicbancorp.com/
http://www.citizensonline.com/
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