Citizens Bank Completes Acquisition of Bank One Branches.FLINT flint, mineral flint, variety of quartz that commonly occurs in rounded nodules and whose crystal structure is not visible to the naked eye. Flint is dark gray, smoky brown, or black in color; pale gray flint is called chert. , Mich.--(BUSINESS WIRE)--Oct. 11, 1999-- Citizens Banking Corporation (Nasdaq:CBCF CBCF Canadian Breast Cancer Foundation CBCF Congressional Black Caucus Foundation CBCF Community Based Corrections Facilities CBCF Commander, Base Communications Facility ) has completed the acquisition of seventeen former Bank One offices located in the counties of Alpena, Oscoda, Wexford, Osceola and Missuakee. This transaction resulted in the addition of $425 million in deposits and approximately $90 million in loans. "The acquisition of these branches represents an opportunity for Citizens to strengthen its northern Michigan This article is about the region; for the university, see Northern Michigan University Northern Michigan - or more properly Northern Lower Michigan - is a region of the U.S. state of Michigan, popular as a tourist destination. presence," commented Robert J. Vitito, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "and effectively execute our community banking strategy." The branches, which are a part of Citizens' north region, have been organized into two community banks known as Citizens Bank-Cadillac and Citizens Bank-Alpena. Jack Werner, Manager of the north region has announced the management structure for these community banks. Mr. Gary Dawley has been named president for Citizens Bank-Alpena. Gary is the former city executive and district manager for the Alpena region. He joined NBD NBD Next Business Day NBD National Bank of Dubai (United Arab Emirates) NBD No Big Deal NBD Network Block Device (Linux) NBD Nucleotide Binding Domain NBD New Business Development in 1970 and was with the organization through its merger with First Chicago and the acquisition by Bank One. Mr. Dennis Werner will become vice president and commercial business manager for Citizens Bank-Alpena. Dennis started with the former People's Bank Peo´ple's bank 1. A form of coöperative bank, such as those of Germany; - a term loosely used for various forms of coöperative financial institutions. & Trust in 1977 and has been with the organization through several acquisitions. Mr. James Petersen was named bank president in Cadillac. Jim began his career in banking in 1971 with the Cadillac State Bank and has been with the NBD-Bank One organization for the past 28 years. Mr. Keith Williams Keith Williams (born 21 April 1958) is a British architect. Education and career He studied architecture at Kingston and Greenwich Schools of Architecture before co-founding Pawson Williams Architects in 1987. will be senior vice president and commercial business manager for Citizens Bank-Cadillac. Keith, who formerly served as vice president and city executive for the Cadillac region, began his career in banking with NBD in 1981. "The Cadillac and Alpena management staffs are very experienced and have served their communities well over a long period of time. They are ideally suited to deliver our community banking philosophy of local decision making and strong community involvement," commented Jack Werner. The offices opened today as Citizens Bank branches with all systems successfully converted. Citizens Banking Corporation, the parent of Citizens Bank, is the third largest bank holding company headquartered in Michigan, with assets of $5 billion. Citizens provides a full range of commercial, consumer, mortgage banking, trust and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services to a broad client base through 140 branch, private banking, and financial center locations throughout Michigan and in suburban Chicago, Illinois. Visit our Website at http://www.cbclientsfirst.com |
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