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Citizens Holding Company
Citizens Financial Group, Inc. is a publicly traded company listed on the New York Stock Exchange under the ticker symbol CFG. It is a regional bank holding company that operates in the Northeast region of the United States.
Here are some key facts about Citizens Financial Group:
* Headquarters: Providence, Rhode Island
* Assets: $128.2 billion (December 31, 2z019)
* Deposits: $84.3 billion (December 31, 2019)
* Loans: $90.9 billion (December 31, 2019)
* Net Income: $1,034 million (2020)
* Revenue: $5,678 million (2020)
Citizens Financial Group operates in three business segments:
* Consumer Banking: offers a range of banking products and services, including retail and commercial checking and savings accounts, home equity loans and lines of credit, personal loans, and credit cards.
* Commercial Banking: provides financial products and services to middle market and commercial clients, including lending and leasing, deposit and treasury services, and cash management.
* Wealth Management: offers a range of advisory, investment, and banking services, including investment management, wealth advisory services, and retirement services.
Citizens Financial Group has a strong presence in the Northeast region, with over 1,300 branches, primarily located in Rhode Island, Connecticut, Massachusetts, New Hampshire, Vermont, upstate New York, and Pennsylvania.
Earnings:
* 2020 net income: $1,034 million
* 2020 revenue: $5,678 million
* 2020 net interest income: $3,573 million
* 2020 efficiency ratio: 62.3%
Growth:
* Citizens Financial Group has been focused on digital transformation and expanding its customer base in recent years.
* In 2020, the company acquired the assets of the Connecticut-based retail banking business of TD Bank, expanding its branch network and customer base in the Northeast.
* Citizens Financial Group has also been investing in technology and digital capabilities, including the launch of a digital-only bank, Citizens Access, in 2020.
Key Executives:
* Bruce Van Saun, Chairman and Chief Executive Officer
* John F. Woods, Vice Chairman and Chief Financial Officer
* Thomas F. Shipp, Vice Chairman and Chief Risk Officer
* Brad L. Conner, Vice Chairman and Chief Administrative Officer
Recent Developments:
* On February 2, 2022, Citizens Financial Group, Inc. announced that it had entered into a definitive agreement to acquire the assets of Investors Bank, a New Jersey-based bank with approximately $16.5 billion in assets, 152 branches and $10.6 billion in deposits as of December 31, 2022. The acquisition is expected to close in the third quarter of 2023.
* On January 17, 2023, Citizens Financial Group announced that it had entered into a definitive agreement to acquire the asset management business of The PrivateBank and Trust Company, a Chicago-based bank with approximately $2.6 billion in assets under management. The acquisition is expected to close in the second quarter of 2023.
Please note that this is a summary of publicly available information and may not reflect recent developments or changes.