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Midwest Charter One branches to be rebranded as Citizens Bank

Rochester Business Journal
July 1, 2014

The Rhode Island holding company of RBS Citizens N.A. in the Rochester market plans to rebrand its Charter One bank branches in the Midwest to Citizens Bank N.A. sometime next year, representatives announced Monday.

Charter One has some 200 branches in Michigan and Ohio.

Providence-based Citizens Financial Group Inc., the U.S. subsidiary of the Royal Bank of Scotland Group PLC, acquired Charter One Financial Inc. in 2004 for $10.5 billion. Charter One Bank FSB ranked fourth in deposits in the Rochester market then.

“The name Citizens has been a part of our heritage and culture as a company since 1871,” Chairman and CEO Bruce Van Saun said in a statement. “We want to leverage this strong brand to provide a consistent, high-quality banking experience to all of our customers, wherever we do business.

“We aspire for Citizens to become a top-performing regional bank, and this rebranding effort is part of our strategy to grow our business in the Midwest and beyond.”

The rebranding is part of Citizens’ plan to separate from RBS and establish itself as a stand-alone company, officials said. RBS plans to divest itself from its U.S. subsidiary by the end of 2016.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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