51-545: Citizens Financial Group, Inc. is an American bank holding company , headquartered in Providence, Rhode Island . The company owns the bank Citizens Bank, N.A. , which operates in the U.S. states of Connecticut , Delaware , Florida , Maryland , Massachusetts , Michigan , New Hampshire , New Jersey , New York , Ohio , Pennsylvania , Rhode Island , Vermont , and Virginia , as well as Washington, DC . Between 1988 and its 2014 initial public offering , Citizens
102-509: A mutual savings bank to a federal stock savings bank. Expansion into other states began with Massachusetts in 1986. In 1988, Royal Bank of Scotland Group acquired Citizens. Under RBS ownership, Citizens acquired several smaller banks in New England to become the second largest bank in the region. In 1996, in conjunction with the acquisition of First NH Bank , the Bank of Ireland gained
153-768: A 23.5% stake in Citizens, which RBS then acquired two years later to resume 100% ownership. In 1999, Citizens acquired the United States Trust Company of Boston and the retail banking business of State Street Corporation , significantly increasing its footprint in Massachusetts . Expansion outside New England began in 2001, when RBS purchased the retail banking division of Mellon Financial Corporation in Pennsylvania, New Jersey and Delaware for $ 2 billion. At one stroke, Citizens Bank became
204-531: A partial spinoff of Citizens through an initial public offering within the next two years. Then in October 2013, RBS announced it would sell its Chicago -area branches, which represented 6% of its U.S. deposits; Citizens later agreed to sell those branches to U.S. Bancorp on January 7, 2014. Finally in November 2013, RBS announced that it would divest all of Citizens Financial Group. The bank began trading on
255-474: A tax free basis, borrow money, acquire other banks and non-bank entities more easily, and issue stock with greater regulatory ease. It also has a greater legal authority to conduct share repurchases of its own stock. The downside includes responding to additional regulatory authorities, especially if there are more than 2,000 shareholders (note: prior to the Jobs Act or Jumpstart Our Business Startups Act ,
306-732: Is best known for designing his most famous work, the Brooklyn Bridge , but designed and built numerous bridges in Pittsburgh and other cities as well. At what is now known as Oil Creek, Butler County resident William Smith and Edwin Drake first proved oil could be tapped from underground for consistent supply. The Jeep was developed in Butler County by American Bantam in 1941. Famous politicians have lived in and traveled through Butler County. U.S. Senator Walter Lowrie ,
357-630: Is broadly defined as "any company that has control over a bank". All bank holding companies in the US are required to register with the Board of Governors of the Federal Reserve System . The Federal Reserve Board of Governors , under Regulation Y ( 12 CFR 225 ) has responsibility for regulating and supervising bank holding company activities, such as establishing capital standards , approving mergers and acquisitions and inspecting
408-644: Is full-service banking from 10 a.m. to 3 p.m. on Sundays; historically, USA banks were often closed on Sunday and even Saturdays. In September 2010, Giant Eagle announced a new agreement with Huntington Bank in which Huntington would open branches in several stores in Ohio and West Virginia and will replace existing branches of other banks when the store's agreements with those banks expire. On June 25, 2008, Citizens Bank announced would sell 18 branches in upstate New York as it prepared to open 57 branches downstate. Community Bank System Inc. of DeWitt, New York purchased
459-854: Is identified as part of the "Midlands" by Colin Woodard in his book American Nations: A History of the Eleven Rival Regional Cultures of North America . It is the location of Moraine State Park , with the 3,000-acre (12 km ) glacial lake, Lake Arthur. Lake Arthur is used for fishing and sailing , and the surrounding park is used for hiking and hunting . The county has a humid continental climate ( Dfa / Dfb ) and average monthly temperatures in Butler borough range from 27.7 °F in January to 72.1 °F in July. As of
510-495: Is part of the Greater Pittsburgh region of the state. Some famous inventions and discoveries were made in Butler County. Saxonburg was founded as a Prussian colony by John A. Roebling , a civil engineer, and his brother Carl. After farming for a time, Roebling returned to engineering, and invented his revolutionary "wire rope.", which he first produced at Saxonburg. He moved the operation to Trenton, New Jersey. He
561-669: The 2000 census , there were 174,083 people, 65,862 households, and 46,827 families residing in the county. The population density was 221 inhabitants per square mile (85/km ). There were 69,868 housing units at an average density of 89 units per square mile (34/km ). The racial/ethnic makeup of the county is 96.5% White, 0.9% Black or African American, 0.09% Native American, 0.8% Asian, 0.03% Pacific Islander, 0.17% from other races, 0.7% from two or more races; and 0.9% Hispanic or Latino of any race. 39.0% German , 20.8% Irish , 13.1% Italian , 8.6% English , and 7.8% Polish . There were 65,862 households, out of which 32.90% had children under
SECTION 10
#1732787012999612-490: The 2004 United States presidential election . Donald Trump , while president, campaigned at the Butler County Airport in 2020. On July 13, 2024, Butler County was the site of an assassination attempt of former President Donald Trump as he spoke at a campaign rally. Trump was shot in the ear and one spectator was killed. The shooter was also killed. The next day, authorities named Thomas Matthew Crooks as
663-605: The Federal Reserve 's credit facilities. Butler County, Pennsylvania Butler County is a county in the Commonwealth of Pennsylvania . As of the 2020 census , the population was 193,763. Its county seat is Butler . Butler County was created on March 12, 1800, from part of Allegheny County and named in honor of General Richard Butler , a hero of the American Revolution . The county
714-566: The Fortune 500 for the first time. In August 2015, the Consumer Financial Protection Bureau (CFPB) and other federal regulators levied nearly $ 35 million in penalties against Citizens Bank "for failing to credit to customers’ accounts the full amount of their deposits". The regulators declared that, from 2008 to 2013, "The bank’s actions resulted in consumers being shorted millions of dollars". Joint action by
765-604: The French and Indian War . In 1923, the funeral train of President Warren G. Harding passed through Butler County on its way to Washington D.C. John F. Kennedy spoke in front of the Butler County Courthouse during the 1960 United States presidential election . Hubert Humphrey also campaigned in Butler. In 2004, Vice President Dick Cheney spoke in Saxonburg to campaign for President George W. Bush in
816-478: The U.S. Census Bureau for the purposes of compiling demographic data. They are not actual jurisdictions under Pennsylvania law. Other unincorporated communities, such as villages, may be listed here as well. Several of these communities, most notably Renfrew, Lyndora, Herman, Sarver, Cabot, Boyers, and Forestville, have post offices and zip codes, but aren't officially incorporated under Pennsylvania law, and exist entirely within townships. The population ranking of
867-677: The CFPB, the FDIC , and the Comptroller of the Currency determined that Citizens Bank had engaged in "deceptive practices" by "fail[ing] to give customers their full deposits at times when the size of the deposit didn’t match the number written on deposit slips", despite promising to correct such discrepancies, instead pocketing the difference. The bank was required to reimburse its customers for lost funds as well as pay roughly $ 20 million in fines to
918-663: The Citizens Bank banner on seven branches in Butler County, Pennsylvania . This rebranding resolved a 3½-year-old name dispute with Butler -based Citizens National Bank. By mid 2005, Citizens National and Citizens Financial agreed to a compromise. Citizens National Bank changed its name to NexTier Bank , while the Citizens Financial Group branches reverted to the "Citizens Bank" name. A new corporate logo designed to show Citizens Bank's connection to
969-605: The Citizens Bank name in most of Charter One's territory, Citizens Financial elected to keep the Charter One name in Charter One's Midwestern footprint. However, it re-branded the New York and Vermont branches as Citizens Bank. This purchase made Citizens Financial the 12th largest bank in the United States with over $ 131 billion in assets and 1,530 branches across 13 states. In early 2005, the Charter One name replaced
1020-737: The High Street Bank in Providence, Rhode Island. In 1871, the Rhode Island legislature gave a second charter to establish the Citizens Savings Bank which eventually acquired its parent group to form Citizens Trust Company. The bank then expanded through Rhode Island, opening a total of 29 branches in that state. It established Citizens Financial Group as a holding company when the bank acquired The Greenville Trust Company in 1954. In 1985, Citizens changed status from
1071-543: The New York Stock Exchange under the ticker symbol CFG on September 24, 2014, raising $ 3 billion. By April 2015, RBS Group's shareholding in the bank had dropped to 45.6%. A further sale in July 2015 reduced RBS' stake to 23.4%. RBS sold its remaining stake in the bank in October 2015. However, Citizens still uses the RBS "daisy wheel" logo. In June 2016, it was announced that Citizens Financial Group had joined
SECTION 20
#17327870129991122-1008: The Old National Bank banner. The transaction closed in June 2010. In 2014, Citizens sold 94 branches in metropolitan Chicago to U.S. Bancorp . Citizens Republic Bancorp was founded in Flint, Michigan, in 1871 and merged with Republic Bank in 2006. In 2007, Citizens Republic prevailed in a case to prevent Citizens Financial from using the similar name in Michigan and Ohio. FirstMerit Bank acquired Citizens Republic in 2013 and rebranded all branches as FirstMerit until 2016 when Huntington Bancshares acquired FirstMerit. With conflicting names no longer an issue, Citizens Bank announced June 30, 2014, that Charter One branches in Michigan and Ohio would be rebranded as Citizens Bank. The name change officially took place on April 27, 2015, bringing to an end
1173-553: The Royal Bank of Scotland debuted on April 26, 2005. In July 2006, Citizens Bank eliminated the mortgage department in Michigan and terminated over 100 employees. On September 1, 2007, the individual banks under Citizens Financial Group, excluding Citizens Bank of Pennsylvania, merged into RBS Citizens, N.A. In November 2008, Charter One sold its network of 65 branches in Indiana to Old National Bank which rebranded them under
1224-426: The age of 18 living with them, 59.80% were married couples living together, 8.10% had a female householder with no husband present, and 28.90% were non-families. 24.20% of all households were made up of individuals, and 10.40% had someone living alone who was 65 years of age or older. The average household size was 2.55 and the average family size was 3.04. In the county, the population was spread out, with 24.60% under
1275-429: The age of 18, 8.80% from 18 to 24, 29.40% from 25 to 44, 23.00% from 45 to 64, and 14.30% who were 65 years of age or older. The median age was 38 years. For every 100 females, there were 95.40 males. For every 100 females age 18 and over, there were 91.80 males. Butler County has long been one of the most consistently Republican counties in Pennsylvania and the nation. The last Democratic presidential candidate to win it
1326-527: The agreement, Citizens would acquire approximately $ 9.0 billion in deposits and approximately $ 2.2 billion in loans. In April 2022, Citizens completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida. In July 2021, Citizens announced plans to acquire New Jersey–based bank holding company Investors Bancorp for $ 3.5 billion. Citizens took over more than 150 branches with
1377-423: The article, the request was related to the investigation into alleged Russian interference in the 2016 United States elections . Manafort reportedly secured a 2.7 million-dollar loan from Citizens in 2016. On February 26, 2018, Bloomberg News reported that Citizens' stock price dropped 4.1 percent after U.S. Special Counsel Robert Mueller ’s indictment of Manafort was released, appearing to indicate that Citizens
1428-543: The bank's services. Bank holding company A bank holding company is a company that controls one or more banks , but does not necessarily engage in banking itself. The compound bancorp ( banc / bank + corp[oration] ) or bancorporation is often used to refer to these companies as well. In the United States, a bank holding company , as provided by the Bank Holding Company Act of 1956 ( 12 U.S.C. § 1841 et seq. ),
1479-607: The branches in Ausable Forks, Champlain, Fort Covington, Indian Lake, Lake Placid, Lyons Falls, Long Lake, Malone, Newcomb, North Creek, Plattsburgh, Saranac Lake, Ticonderoga, Tupper Lake and Whitehall. The sale completed on November 7, 2008. In October 2009, Citizens Bank opened a full-service branch inside a Dunkin' Donuts in Bellingham, Massachusetts . The branch offers teller windows, a full-service automated teller machine (ATM) and Dunkin' Donuts promotions for using
1530-490: The county as being politically conservative. Chart of Voter Registration As of September 30, 2024, there are 142,305 registered voters in Butler County. K-12 school districts include: As of 2024, several area school districts, as a tradition, gave school holidays when the deer hunting season began. The Butler County Federated Library System (additionally known as the Library System of Butler County) includes
1581-495: The county was carried by Republican John McCain 's 63% to Democrat Barack Obama 's 35%. Since 2008, Butler County has continually given Republican nominees support in the mid-60s, with both Mitt Romney and Donald Trump receiving around 66% of the vote in 2012 , 2016 , and 2020 . In 2024, by political party, almost 80,000 residents registered as Republican, almost 40,000 registered as Democratic, and about 20,000 are not Democratic nor Republican. The New York Times described
Citizens Financial Group - Misplaced Pages Continue
1632-681: The credit card division of Connecticut-based People's Bank. This purchase allowed Citizens to issue and market its own credit cards. In October 2015, RBS sold its remaining stake in Citizens Financial Group, having progressively reduced its stake through an initial public offering (IPO) started in 2014. In August 2004, Citizens Financial acquired Cleveland -based Charter One Financial, parent company of Charter One Bank, with branches in Illinois , Ohio , Indiana , Michigan , upstate New York , and Vermont for $ 10.5 billion. Because Citizens Republic Bancorp of Flint, Michigan , already operated under
1683-670: The deal. As of February 2023, all Investors locations were rebranded as Citizens Bank. Like several other banks, Citizens has agreements with several supermarket chains to locate bank branches in the stores. The greatest number of these are in Pittsburgh -based Giant Eagle stores, most of which were acquired in the acquisition of Mellon Financial Corporation 's retail banking division. Citizens also operates branches inside many Stop & Shop and Shaw's stores in New England. One unique aspect at Citizens branches inside supermarkets
1734-450: The edge of the drainage divide. Eventually Lake Pouty spilled over and rushed to the south, carving Slippery Rock Creek Gorge. Lakes Watts and Edmund drained into the gorge, digging it deeper and making Slippery Rock and Muddy creeks flow south. Areas of the 400-foot (120 m) deep Slippery Rock Gorge may be seen at nearby McConnells Mill State Park . The glacier created a landscape of rolling hills topped with hardwood trees and swamps in
1785-528: The effective nationalization of RBS in 2008, speculation arose as to whether RBS would retain Citizens Bank. In 2012, public pressure in the United Kingdom grew for RBS to focus on its home market and sell foreign assets, including Citizens Bank, in order for UK taxpayers to earn their money back. Substantial interest in Citizens Bank had been rumored from other foreign banks such as Brazil -based Itaú Unibanco and Canada -based Toronto-Dominion Bank ,
1836-484: The following table is based on the 2010 census of Butler County. † county seat Butler County has often been used as a setting for films shot in the North Pittsburgh area. Such films include: Films set in Butler County, but not necessarily filmed there. Novels set in Butler County. Benjamin's Field , a trilogy by local author J. J. Knights The Pennsic War , an annual medieval camping event by
1887-526: The latter of which already had an existing U.S. branch network that overlapped with the existing Citizen footprint east of the Appalachian Mountains . The Bank of Montreal , with its existing U.S. presence , was also mentioned as a possible buyer. U.S. banks mentioned as potential Citizens buyers included JPMorgan Chase , Wells Fargo , U.S. Bancorp , PNC Financial Services , and Fifth Third Bank . In February 2013, RBS confirmed at least
1938-527: The name Charter One in Cleveland ; the city in which it was founded. In May 2008, Citizens Financial Group failed to publicly announce that it was under investigation by the Securities and Exchange Commission (SEC) for its involvement in the sub-prime mortgage crisis that devastated the U.S. housing market and bond investors around the world. The SEC only investigated banks if suspected of involvement in
1989-583: The only senator from Butler, built a home in 1828 that still stands behind the Butler County Courthouse. The house has been adapted for use by the Butler County Historical Society. Butler's highest-ranked federal official is William J. Perry , Secretary of Defense under President Bill Clinton from 1994 to 1997. He graduated from Butler High School in 1945. George Washington passed through this area during
2040-609: The operations of such companies. This authority applies even though a bank owned by a holding company may be under the primary supervision of the Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation . Becoming a bank holding company makes it easier for the firm to raise capital than as a traditional bank. The holding company can assume debt of shareholders on
2091-493: The perpetrator. Bret Michaels , lead singer of the rock band Poison , was born here in 1963. According to the U.S. Census Bureau , the county has a total area of 795 square miles (2,060 km ), of which 789 square miles (2,040 km ) is land and 6.1 square miles (16 km ) (0.8%) is water. Butler County is one of the 423 counties served by the Appalachian Regional Commission , and it
Citizens Financial Group - Misplaced Pages Continue
2142-628: The purchase and sale of subprime securities. In 2008, the company lost $ 929 million and anticipated writing off $ 2 billion in bad loans. Royal Bank of Scotland posted the biggest loss in British corporate history and announced cost-cutting measures at Citizens. A Philadelphia developer sued Citizens Bank January 27, 2010, for $ 8 billion, under a claim that the bank used sham accusations of default to recall loans in an effort to prop up its failing parent companies, Citizens Financial Group and "its ultimate parent, The Royal Bank of Scotland Group." Following
2193-558: The second-largest bank in Pennsylvania, and a major bank in both Philadelphia and Pittsburgh . In July 2003, the bank purchased the naming rights to the new home field of the Philadelphia Phillies , which was named Citizens Bank Park . On January 17, 2003, Citizens Financial Group purchased Commonwealth Bancorp, the holding company for Commonwealth Bank, based in Norristown, Pennsylvania . In 2004, RBS purchased
2244-498: The shareholder number was 300), at which point the bank holding company is forced to register with the Securities and Exchange Commission . There are also added expenses of operating with an extra layer of administration. As a result of the 2007–2008 financial crisis , many traditional investment banks and finance corporations such as Goldman Sachs , Morgan Stanley , American Express , CIT Group and GMAC (now Ally Financial ) converted to bank holding companies to gain access to
2295-562: The ten listed libraries. Each library is managed by its own Board of Directors. The majority of the funding for these libraries comes from state grants, user fines and donations with additional financial contributions from Butler County. The first Butler library originated in 1894 with the Literary Society of Butler in what is now known as the Little Red Schoolhouse. The Butler Area Public Library, built in 1921,
2346-669: The three agencies. The New York Times said that Citizens Bank's misconduct "is appalling precisely because it is so basic", demonstrating that "regulators like the Consumer Financial Protection Bureau are a necessary defense against a system prone to abuses". On May 12, 2017, The Wall Street Journal reported that the United States Department of Justice requested from numerous banks, including Citizens, Trump 2016 campaign manager Paul Manafort's transaction records. According to
2397-608: The valley bottoms. Moraines containing gravel, sand and clay were draped upon the landscape and silt was left on the extinct lake bottoms. Reference to: http://www.dcnr.state.pa.us/stateParks/parks/moraine/moraine_history.aspx Under Pennsylvania law, there are four types of incorporated municipalities: cities , boroughs , townships , and, in at most two cases, towns . The following cities, boroughs and townships are located in Butler County: Census-designated places are geographical areas designated by
2448-412: Was Lyndon B. Johnson in 1964 , when he won a national landslide and carried all but four counties in the state; indeed, Johnson is the only Democratic presidential candidate to carry this county in over a century. In 2000 , Republican George W. Bush received 62% of the vote, while Democrat Al Gore received 35%. In 2004 , the county was carried by Bush's 64% to Democrat John Kerry 's 35%. In 2008 ,
2499-450: Was a wholly owned subsidiary of Royal Bank of Scotland . The group sold its last 20.9% stake in the company in October 2015. Citizens operates 1,078 branches and 4 wealth centers as of August 31, 2023, and over 3,200 ATMs across 11 states under the Citizens Bank brand. Citizens ranks 18th on the List of largest banks in the United States as of Q3 2024. Citizens was established in 1828 as
2550-540: Was the "Lender B" cited as having lent 3.4 million dollars to the former campaign manager of President Trump. In August 2018, Citizens completed its acquisition of Franklin American Mortgage in a deal valued at $ 511 Million, expanding its presence into Tennessee and Texas. On May 26, 2021, Citizens entered into an agreement with HSBC Bank USA to purchase HSBC's retail operations on the East Coast. Under
2601-739: Was the last Carnegie library built in Pennsylvania . In the intervening 27 years the library was independently operated. From 1921 to 1941 the library quadrupled the number of patrons served. In 1987 the County Commissioners, through a resolution, founded the Butler County Federated Library System. There are two Pennsylvania state parks in Butler County. Before the glacier dam, Slippery Rock and Muddy creeks flowed north while extinct McConnells Run flowed south. The glacier dammed Lake Prouty on
SECTION 50
#1732787012999#998001