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.
SOURCE Republic Bancorp Inc.; Citizens Banking Corporation
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Related links:
http://www.republicbancorp.com
http://www.citizensonline.com
CONTACT:
Donald Hoffman, Public Relations of Citizens
Banking Corporation, +1-810-237-4986, Donald.Hoffman@cbcf-net.com
; or Kristine D. Brenner, Investor Relations of Republic Bancorp
Inc., +1-989-725-7337, kbrenner@republicbancorp.com
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