Citizens Financial Group#Charter One Financial

File:Former Citizens Savings Bank building in Canonicus Square.jpg, Rhode Island]]

Citizens was established in 1828 as the High Street Bank in Providence, Rhode Island.{{cite news| url=https://www.bostonglobe.com/business/2013/11/01/timeline-history-citizens-bank/WGKliLwtOgGbVatNsuv2lL/story.html| title=Timeline: A history of Citizens Bank| newspaper=The Boston Globe| date=November 2, 2013}}{{cite web

| url=http://investor.citizensbank.com/about-us/our-company/our-history.aspx| publisher=Citizens Bank| title=Our History| access-date=February 7, 2018}} 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 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 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.{{cite news|url=https://www.nytimes.com/1999/05/07/business/company-news-citizens-is-buying-state-street-s-retail-bank-business.html|title=Company News; Citizens Is Buying State Street's Retail Bank Business|agency=Reuters|date=May 7, 1999|work=The New York Times|access-date=December 11, 2019|issn=0362-4331}}

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 the second-largest bank in Pennsylvania, and a major bank in both Philadelphia and Pittsburgh.{{cite news| url=http://www.bizjournals.com/philadelphia/stories/2001/12/03/story1.html| title=Newcomer Citizens Bank promises return to PSFS roots| first=Andy| last=Gotlieb| newspaper=Philadelphia Business Journal| date=December 3, 2001|url-access=subscription }}

In July 2003, the bank purchased the naming rights to the new home field of the Philadelphia Phillies, which was named Citizens Bank Park.{{cite news| url=http://www.bizjournals.com/philadelphia/blog/jeff-blumenthal/2014/04/citizens-bank-enters-second-decade-as-phillies.html| title=Citizens Bank enters second decade as Phillies ball park name sponsor| first=Jeff| last=Blumenthal| newspaper=Philadelphia Business Journal| date=April 9, 2014}}

On January 17, 2003, Citizens Financial Group purchased Commonwealth Bancorp, the holding company for Commonwealth Bank, based in Norristown, Pennsylvania.{{cite press release| url=http://www.prnewswire.com/news-releases/citizens-bank-completes-acquisition-of-commonwealth-bancorp-inc-growth-and-momentum-continue-73901982.html| title=Citizens Bank Completes Acquisition of Commonwealth Bancorp, Inc.; Growth and Momentum Continue| publisher=Citizens Bank| via=PRNewswire| date=January 17, 2003}}

In 2004, RBS purchased the credit card division of Connecticut-based People's Bank.{{cite news| url=http://www.nhregister.com/article/NH/20040204/NEWS/302049953| title=People's sells credit card division| first=Steve| last=Higgins| newspaper=New Haven Register| date=February 4, 2004}}{{cite news| url=https://www.thetimes.com/business-money/companies/article/rbs-buys-us-credit-card-business-wlxs7dqvp6h| title=RBS buys US credit card business| newspaper=The Times| location=London| date=February 3, 2004|url-access=subscription }} 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.{{cite news |title=RBS profits rise on Citizens sale |url=https://www.bbc.co.uk/news/business-34674586 |access-date=October 30, 2015 |work=BBC News |date=October 30, 2015}}

Image:Charter One Bank Ypsilanti.JPG]]

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.{{cite news| url=https://www.nytimes.com/2004/05/05/business/citizens-financial-acquires-charter-one.html| title=Citizens Financial Acquires Charter One| first=Jonathan D. | last=Glater| newspaper=The New York Times| date=May 5, 2004}}{{cite press release| url=http://www.businesswire.com/news/home/20040831005781/en/Citizens-Financial-Group-Completes-Charter-Acquisition-Transaction| title=Citizens Financial Group Completes Charter One Acquisition; Transaction Makes Citizens One of the Top U.S. Bank Holding Companies| publisher=Citizens Bank| via=Business Wire| date=August 31, 2004}} Because Citizens Republic Bancorp of Flint, Michigan, already operated under 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 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.{{cite news| title=NexTier, Farmers & Merchants to merge, with $1B combined assets, by 1stQ 2014| url=http://triblive.com/business/headlines/3976904-74/nextier-bank-farmers#axzz3ACnFJSFy| last=Olsen| first=Thomas| date=May 7, 2013| work=Pittsburgh Tribune-Review| access-date=August 12, 2014}}

A new corporate logo designed to show Citizens Bank's connection to 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.{{cite web| publisher=Connecticut Department of Banking| url=http://www.ct.gov/dob/cwp/view.asp?a=2228&q=296976 |title=Bank Mergers and Acquisitions| date=June 26, 2014}}

In November 2008, Charter One sold its network of 65 branches in Indiana to Old National Bank which rebranded them under the Old National Bank banner.{{cite press release| url=https://globenewswire.com/news-release/2008/11/25/388990/155395/en/Old-National-Bancorp-to-Acquire-Charter-One-s-Retail-Branch-Banking-Network-in-Indiana.html| title=Old National Bancorp to Acquire Charter One's Retail Branch Banking Network in Indiana| publisher=Old National Bank| via=GlobeNewswire| date=November 25, 2008}}{{cite news | url=http://archive.courierpress.com/business/onb-acquiring-charter-one-branches-in-central-indiana-ep-447939301-324598831.html| title=ONB acquiring Charter One branches in Central Indiana | first=Bryan| last=Corbin| newspaper=Evansville Courier & Press| date=November 25, 2008}} The transaction closed in June 2010.

In 2014, Citizens sold 94 branches in metropolitan Chicago to U.S. Bancorp.{{cite press release| url=http://www.businesswire.com/news/home/20140107006040/en/U.S.-Bancorp-Acquires-Chicago-Branch-Banking-Operations| title=U.S. Bancorp Acquires Chicago Branch Banking Operations of RBS Citizens Financial Group| publisher=US Bancorp| via=Business Wire| date=January 7, 2014}}{{cite press release| url=http://www.businesswire.com/news/home/20140623005240/en/U.S.-Bank-Closes-Acquisition-Chicago-Area-Charter-Bank| title=U.S. Bank Closes on Acquisition of Chicago-Area Charter One Bank Franchise| publisher=US Bancorp| via=Business Wire| date=June 23, 2014}}

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.{{cite news| title=Judge blocks use of bank's 'Citizens' name| url=https://thefinancialbrand.com/311/judge-blocks-use-of-banks-citizens-name/| last=Pitcher| first=Jeffrey| journal=The Financial Brand| date=December 17, 2007| access-date=February 7, 2018}} FirstMerit Bank acquired Citizens Republic in 2013 and rebranded all branches as FirstMerit until 2016 when Huntington Bancshares acquired FirstMerit.{{cite press release| url=http://www.prnewswire.com/news-releases/firstmerit-completes-acquisition-of-citizens-republic-bancorp-202750891.html| title=FirstMerit Completes Acquisition of Citizens Republic Bancorp| publisher=FirstMerit Bank| via=PRNewswire| date=April 12, 2013}} 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 the name Charter One in Cleveland; the city in which it was founded.{{cite news| url=http://www.cleveland.com/business/index.ssf/2014/06/charter_one_is_changing_name_t.html| title=Charter One is changing name to Citizens Bank next year| first=Teresa Dixon | last=Murray| newspaper=The Plain Dealer| location=Cleveland| date=June 30, 2014}}{{cite news| url=http://www.crainscleveland.com/article/20150427/FREE/150429858/charter-one-name-change-to-citizens-bank-goes-into-effect| title=Charter One name change to Citizens Bank goes into effect| newspaper=Crain's Cleveland Business| date=April 27, 2015}}

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.{{cite web| first=Mark| last=Smith| title=Royal Bank under investigation over US sub-prime loans| url=http://www.theherald.co.uk/business/news/display.var.2263257.0.Royal_Bank_under_investigation_over_US_subprime_loans.php| newspaper=The Herald| date=May 12, 2008| location=Glasgow| access-date=August 12, 2014| archive-date=May 14, 2009| archive-url=https://web.archive.org/web/20090514040805/http://www.theherald.co.uk/business/news/display.var.2263257.0.Royal_Bank_under_investigation_over_US_subprime_loans.php| url-status=dead}} The SEC only investigated banks if suspected of involvement in the purchase and sale of subprime securities.{{cite news| url=https://www.telegraph.co.uk/finance/financetopics/recession/5025115/RBS-traders-hid-toxic-debt.html| archive-url=https://web.archive.org/web/20090322195948/http://www.telegraph.co.uk/finance/financetopics/recession/5025115/RBS-traders-hid-toxic-debt.html| url-status=dead| archive-date=March 22, 2009| work=The Daily Telegraph| location=London| title=RBS traders hid toxic debt| first=Robert| last=Winnett| date=March 20, 2009| access-date=August 12, 2014}}

In 2008, the company lost $929 million and anticipated writing off $2 billion in bad loans.{{cite news| url=http://archive.boston.com/business/articles/2009/02/26/citizens_loses_929m_as_bad_loans_proliferate/| title=Citizens loses $929m as bad loans proliferate| first=Ross| last=Kerber| newspaper=The Boston Globe| date=February 26, 2009}} Royal Bank of Scotland posted the biggest loss in British corporate history and announced cost-cutting measures at Citizens.{{cite news| url=http://www.bizjournals.com/buffalo/stories/2009/02/23/daily42.html| title=Royal Bank: Changes coming at Citizens| first=Thomas| last=Hartley| newspaper=Buffalo Business First| date=February 26, 2009|url-access=subscription }}

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."{{cite news| last=Mastrull| first=Diane| url=http://www.philly.com/philly/business/20100622_Lawyers_for_Brian_O_Neill__Citizens_Bank_square_off_in_court.html| title=Lawyers for Brian O'Neill, Citizens Bank square off in court

| work=The Philadelphia Inquirer| date=June 22, 2010 |access-date=February 7, 2018}}

Following 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, the latter of which already had an existing U.S. branch network that overlapped with the existing Citizen footprint east of the Appalachian Mountains.{{cite news| title=RBS, U.K. Wrestle Over Fate of Citizens| url=https://www.wsj.com/news/articles/SB10001424052970203400604578070303436735238| last1=Colchester| first1=Max| last2=Enrich| first2=David| work=The Wall Street Journal| date=October 21, 2012| access-date=August 12, 2014}} The Bank of Montreal, with its existing U.S. presence, was also mentioned as a possible buyer.{{cite news| url=http://www.bizjournals.com/pittsburgh/news/2012/10/24/citizens-sale-would-impact-pittsburgh.html?page=all | title=Citizens Bank sale would impact Pittsburgh| last=Tascarella| first=Patty| work=Pittsburgh Business Times| date=October 24, 2012| access-date=August 12, 2014}} U.S. banks mentioned as potential Citizens buyers included JPMorgan Chase, Wells Fargo, U.S. Bancorp, PNC Financial Services, and Fifth Third Bank.{{cite news| title=Ailing parent RBS insists Citizens Bank not for sale| url=https://www.bostonglobe.com/business/2012/08/10/despite-rumors-rbs-says-citizens-bank-remains-key-part-its-future/A9nqFtOvcmiQncRTXYDEwK/story.html| last=Wallack| first=Todd| work=The Boston Globe| date=August 11, 2012| access-date=August 12, 2014}}

In February 2013, RBS confirmed at least 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;{{cite news| url=http://www.post-gazette.com/stories/local/region/30-years-pnc-eats-up-market-share-boosts-downtown-building-707402/| work=Pittsburgh Post-Gazette| first=Patricia| last=Sabatini| title=30 Years: PNC eats up market share, boosts Downtown building| date=October 13, 2013| access-date=October 17, 2013| archive-date=October 17, 2013| archive-url=https://web.archive.org/web/20131017225217/http://www.post-gazette.com/stories/local/region/30-years-pnc-eats-up-market-share-boosts-downtown-building-707402/| url-status=dead}} Citizens later agreed to sell those branches to U.S. Bancorp on January 7, 2014.{{cite news| url=https://dealbook.nytimes.com/2014/01/07/citizens-financial-to-sell-chicago-area-branches-to-u-s-bancorp/ | work=The New York Times| first=Chad| last=Bray| title=Citizens Financial to Sell Chicago-Area Branches to U.S. Bancorp| date=January 7, 2014}} Finally in November 2013, RBS announced that it would divest all of Citizens Financial Group.{{cite press release| title=RBS announces plans to accelerate partial IPO for RBS Citizens Financial Group and fully divest Citizens by 2016| url=http://www.charterone.com/about-us/news/shared/2013/11_1_13_ipo.aspx| date=November 1, 2013| publisher=Citizens Financial Group| access-date=August 12, 2014| archive-url=https://web.archive.org/web/20140813101800/http://www.charterone.com/about-us/news/shared/2013/11_1_13_ipo.aspx| archive-date=August 13, 2014| url-status=dead}}

The bank began trading on the New York Stock Exchange under the ticker symbol CFG on September 24, 2014, raising $3 billion.{{cite news| url=https://www.bloomberg.com/news/articles/2014-09-23/citizens-raises-3-billion-in-ipo-pricing-below-marketed-range| title=Citizens Financial Climbs After $3 Billion IPO| first1=Elizabeth| last1=Dexheimer| first2=Leslie| last2=Picke| publisher=Bloomberg L.P.| date=September 24, 2014}} By April 2015, RBS Group's shareholding in the bank had dropped to 45.6%.{{cite web| url=https://www.nytimes.com/2015/03/27/business/dealbook/rbs-sells-3-2-billion-in-stock-of-citizens-financial-group.html| title=R.B.S. Sells $3.2 Billion in Stock of Citizens Financial Group| date=March 26, 2015| access-date=May 11, 2015| newspaper=The New York Times| last=Bray| first=Chad}} A further sale in July 2015 reduced RBS' stake to 23.4%.{{cite news| last1=Bray| first1=Chad| title=R.B.S. Sells $2.2 Billion in Shares of Citizens Financial Group| url=https://www.nytimes.com/2015/07/30/business/dealbook/rbs-sells-2-2-billion-in-shares-of-citizens-financial-group.html?_r=0| access-date=August 5, 2015| work=The New York Times| date=July 29, 2015}} RBS sold its remaining stake in the bank in October 2015.{{cite news| title=RBS profits rise on Citizens sale| url=https://www.bbc.co.uk/news/business-34674586| access-date=October 30, 2015| work=BBC News| date=October 30, 2015}} However, Citizens still uses the RBS "daisy wheel" logo.

In June 2016, it was announced that Citizens Financial Group had joined the Fortune 500 for the first time.{{cite journal |url=http://fortune.com/2016/06/06/fortune-500-companies-making-debuts/ |title=Here Are The 15 New Companies Joining The Fortune 500 |journal=Fortune |date=June 6, 2016 |access-date=June 7, 2016}}

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".{{cite news| url=https://www.wsj.com/articles/citizens-bank-fined-for-failing-to-credit-consumers-for-full-deposits-1439401509| title=Citizens Bank Fined for Failing to Credit Consumers for Full Deposits| first=AnnaMaria| last=Andriotis| date=August 12, 2015| newspaper=The Wall Street Journal|url-access=subscription }}{{cite press release

| url=https://www.cuinsight.com/press-release/prepared-remarks-of-richard-cordray-director-consumer-financial-protection-bureau| title=Prepared Remarks of Richard Cordray Director, Consumer Financial Protection Bureau: Citizens Bank Enforcement Action| publisher=Consumer Financial Protection Bureau| date=August 12, 2015}} Joint action by 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.{{cite news

| url=https://www.washingtonpost.com/news/get-there/wp/2015/08/12/citizens-bank-fined-at-least-34-5-million-for-pocketing-customers-cash/| title=Citizens Bank fined at least $34.5 million for pocketing customers' cash| first=Jonnelle| last=Marte| date=August 12, 2015| newspaper=The Washington Post}} The bank was required to reimburse its customers for lost funds as well as pay roughly $20 million in fines to 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".{{cite news

| url=https://www.nytimes.com/2015/08/17/opinion/citizens-bank-shortchanged-depositors.html?_r=0| title=Citizens Bank Shortchanged Depositors| author=The Editorial Board| date=August 17, 2015| newspaper=The New York Times}}

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 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.{{cite news| last1=Rothfeld| first1=Michael| last2=Maremont| first2=Mark| last3=Davis O'Brien| first3=Rebecca| title=Former Trump Adviser Paul Manafort's Bank Records Sought in Probe| url=https://www.wsj.com/articles/former-trump-adviser-paul-manaforts-bank-records-sought-in-probe-1494637248| access-date=May 18, 2017|work=The Wall Street Journal| date=May 12, 2017}}

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 was the "Lender B" cited as having lent 3.4 million dollars to the former campaign manager of President Trump.{{cite news|last1=Surane|first1=Jennifer|title=Citizens Financial Stock Drops Thanks to Manafort Indictment|url=https://www.bloomberg.com/news/articles/2018-02-26/citizens-falls-as-manafort-indictment-presents-regulatory-risk|newspaper=Bloomberg.com|date=February 26, 2018 |access-date=March 11, 2018}}

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.{{cite news |url=https://www.housingwire.com/articles/46360-citizens-bank-completes-acquisition-of-franklin-american-mortgage |title=Citizens Bank completes acquisition of Franklin American Mortgage |access-date=August 2, 2018}}

On May 26, 2021, Citizens entered into an agreement with HSBC Bank USA to purchase HSBC's retail operations on the East Coast. Under the agreement, Citizens would acquire approximately $9.0 billion in deposits and approximately $2.2 billion in loans.{{cite press release|url=https://www.about.us.hsbc.com/news-and-media/hsbc-exits-us-mass-market-retail-banking|title=HSBC exits US mass market retail banking|publisher=HSBC Bank USA|date=May 26, 2021|access-date=March 13, 2023|archive-date=May 27, 2021|archive-url=https://web.archive.org/web/20210527113846/https://www.about.us.hsbc.com/news-and-media/hsbc-exits-us-mass-market-retail-banking|url-status=dead}}{{cite news |last=Chin |first=Kimberly |date=May 26, 2021 |title=HSBC to Exit U.S. Retail Banking |url=https://www.wsj.com/articles/hsbc-to-exit-u-s-retail-banking-11622077164 |work=The Wall Street Journal |access-date=May 26, 2021}}

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.{{cite web |title=HSBC Branches Transitioning to Citizens |url=https://www.citizensbank.com/HSBC/branches.aspx |access-date=April 13, 2022 |website=Citizens Bank}}

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 the deal.{{cite news|last=Kellaher|first=Orla McCaffrey and Colin|date=July 28, 2021|title=Citizens Financial to Buy Investors Bancorp in $3.5 Billion Deal|work=Wall Street Journal|url=https://www.wsj.com/articles/citizens-financial-to-buy-investors-bancorp-in-3-5-billion-deal-11627480082|access-date=July 29, 2021|issn=0099-9660}}{{cite web|first=Jon|last=Chesto |date=July 28, 2021|title=Citizens Financial Group makes its first big bank acquisition in nearly two decades - The Boston Globe|url=https://www.bostonglobe.com/2021/07/28/business/citizens-financial-group-makes-its-first-big-bank-acquisition-nearly-two-decades/|access-date=July 29, 2021|website=BostonGlobe.com}}{{cite news|date=July 28, 2021|title=Citizens Financial to buy Investors Bancorp in $3.5 billion deal|work=Reuters|url=https://www.reuters.com/article/us-investors-bancorp-m-a-citizen-financi-idUSKBN2EY19K|access-date=July 29, 2021}} As of February 2023, all Investors locations were rebranded as Citizens Bank. https://tbrnewsmedia.com/north-shore-residents-will-see-local-investors-bank-branch-closure/

File:Citizens Financial.png

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 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.{{cite news |newspaper=The New York Times |url=https://www.nytimes.com/1973/11/19/archives/new-math-at-banks-add-hours-get-more-depositors-banks-are-adding.html |title=New Math at Banks: Add Hours, Get More Depositors |date=November 19, 1973}}{{cite news |newspaper=The New York Times |url=http://www.nytimes.com/1977/11/23/archives/hanover-bank-units-to-open-saturdays.html |title=Hanover Bank Units To Open Saturdays |date=November 23, 1977}}{{cite news |newspaper=The New York Times |url=https://www.nytimes.com/1989/04/08/business/the-new-look-to-bankers-hours.html |title=The New Look to Bankers' Hours |date=April 8, 1989}}

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.{{cite news| title=Huntington Bank, Giant Eagle ink 15-year deal| url=http://www.businessweek.com/ap/financialnews/D9IHL0VO2.htm| archive-url=https://web.archive.org/web/20150923231448/http://www.businessweek.com/ap/financialnews/D9IHL0VO2.htm| url-status=dead| archive-date=September 23, 2015| work=Bloomberg BusinessWeek| date=September 29, 2012| agency=Associated Press| access-date=August 12, 2014}}

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 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.{{cite news| title=Community Bank buying Citizens Bank branches| date=June 25, 2008| url=http://www.pressrepublican.com/0100_news/x155085688/Community-Bank-buying-Citizens-Bank-branches/print| last=Heath| first=Dan| work=Press-Republican| location=Plattsburgh, New York| access-date=August 12, 2014}} 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 the bank's services.{{cite news |last=Abelson| first=Jenn |title=Pastries and finance: a match made in Bellingham |url=http://www.boston.com/business/articles/2009/10/21/pastries_and_finance_a_match_made_in_bellingham/ |work=The Boston Globe |date=October 21, 2009| access-date=August 12, 2014}}

{{Portal|Banks}}

• Citizens Bank Park

{{refs}}

{{commonscat|Citizens Financial Group}}

• {{official website|https://www.citizensbank.com}}
• [http://investor.citizensbank.com/about-us.aspx Corporate website]
• [https://files.consumerfinance.gov/f/201408_cfpb_consent-order-rbs-citizens.pdf Consent decree regarding misappropriation of depositor funds]

{{Finance links

| name = Citizens Financial Group, Inc.

| symbol = CFG

| sec_cik = 759944

| yahoo = CFG

| google = CFG:NYSE

}}

{{Royal Bank of Scotland Group}}

{{Authority control}}

Category:Banks based in Rhode Island

Category:Companies based in Providence, Rhode Island

Category:Royal Bank of Scotland

Category:Banks established in 1828

Category:1988 mergers and acquisitions

Category:1828 establishments in Rhode Island

Category:Companies listed on the New York Stock Exchange

Category:2014 initial public offerings