Chief Financial Officer Named at Citizens Banking Corporation.

Business Editors

FLINT, Mich.--(BUSINESS WIRE)--Aug. 12, 2002

Charles D. Christy has been named chief financial officer and executive vice president of Citizens Banking Corporation, (Nasdaq:CBCF) a $7.5 billion bank holding company, operating Citizens Bank in Michigan and Illinois and F&M Bank in Wisconsin and Iowa.

Christy, whose appointment will be effective September 3, will replace John W. Ennest, vice chairman, chief financial officer and treasurer of Citizens Banking Corporation. Ennest announced in late June that he planned to retire from the company when a successor was named.

Ennest has been with the organization for over 19 years, originally serving as Citizens Bank's CFO. He was named president and CEO of the bank in 1987 and in 1991 became vice chairman of the board of directors of Citizens Banking Corporation and COO of the corporation. Ennest became CFO and treasurer of the corporation in 1994.

Commenting on his new position, Christy said, "The Citizens franchise has great earnings potential and I look forward to helping the company become the very best that it can be. Some of the priorities I have established include accelerating the integration of accounting and finance into all of the corporation's lines of business and enhancing the profitability and pricing models used by these lines of business."

From early 1991 until accepting the position with Citizens, Christy was with Bank One Corporation serving with several Bank One units and in various financial capacities. Most recently, he was director of strategy and acquisitions for the corporation's investment management group. As such, Christy was responsible for the expansion of the company's investment management line of business through target acquisitions and strategic initiatives.

From 2000 through 2001, Christy served as treasurer of Bank One's retail line of business where he focused on asset liability management and loan securitizations, as well as being directly responsible for the strategy, negotiations and implementation team that packaged and sold Bank One's finance company. He also served, from 1997 until mid-1999, as executive vice president and CFO of Bank One's consumer financial services division, which included five business units focusing on subprime financing, mortgage, student, tax related and indirect home equity lending.

Christy's Bank One career included CFO positions with Bank One, Kentucky, NA and Bank One, Lexington, NA. Prior to joining Bank One he was a senior manager with Deloitte & Touche in Cincinnati, Ohio where he specialized in strategic financial planning for the healthcare industry.

Christy is a 1979 graduate of Ohio University with a B.B.A. degree in accounting and finance. In 1997, he earned an honors position at the American Bankers Association Stonier Graduate School of Banking.

Citizens Banking Corporation is a diversified financial services company, providing a wide range of commercial, consumer, mortgage banking, trust investment and financial planning services to a broad client base. Citizens Banking Corporation serves markets through Citizens Bank offices in Michigan, suburban Chicago, Illinois, and through F&M Bank offices in Wisconsin, and Iowa with 198 banking offices and 237 ATMs.