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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.
Dec 31, 2022 · We started as a small community bank back in 1828, since then we’ve evolved into the 12th largest retail bank. Learn more about our history.
Jun 30, 2024 · Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $219.9 billion in assets as of June 30th, 2024.
5 days ago · Citizens Financial Group on Tuesday marked the 10th anniversary of its initial public offering at the New York Stock Exchange. In late 2013, when Bruce Van Saun returned stateside after a four-year stint in London, where he was chief financial officer at the Royal Bank of Scotland, he faced a tall task.
- 19Th-Century Beginnings as High Street Bank and Citizens Savings Bank
- 1981–92: Emergence of Citizens as Unit of The Royal Bank of Scotland
- Doubling in Size Under Lawrence K. Fish: 1992–95
- 1996–2000: Accelerating The Pace of Growth
- 2001–03: Expanding Into The Mid-Atlantic Region Via Mellon Deal
- Into The Midwest Through Takeover of Charter One
- Principal Subsidiaries
- Principal Competitors
- Further Reading
High Street Bank, which was chartered as a commercial bank, was founded in 1828 in Providence, Rhode Island’s Hoyle Square, at the time one of the city’s busiest intersections for travelers from the nearby manufacturing towns and from the countryside. Hoyle Square was named after the Hoyle Tavern, a very popular locale in the city, while the bank t...
Also in 1981, George Graboys was named CEO of the bank. Graboys had practiced law before joining his family’s asset-based lending company, U.S. Finance Corp., in the mid-1960s. After Citizens acquired U.S. Finance in 1969, Graboys began working within the commercial bank unit, then was elected president of Citizens Savings in 1975. It was during Gr...
By 1992 Graboys had accomplished a quadrupling of the bank’s assets during little more than a decade of leadership, to $4 billion. That year, Lawrence K. Fish succeeded Graboys as chairman and CEO. A banking veteran, Fish was a former executive at Bank of Boston who received accolades for his efforts to revive the failing Bank of New England during...
In April 1996 Citizens Financial merged with First NH Bank. Based in Manchester, New Hampshire, First NH was the largest financial services firm in the state, and was owned by Bank of Ireland. The Royal Bank of Scotland paid $245 million in cash and notes to Bank of Ireland, which also gained a 23.5 percent stake in Citizens. The Royal Bank retaine...
This soon proved to be the case as Citizens Financial announced in July 2001 that it would purchase the retail banking operations of Pittsburgh-based Mellon Financial Corporation for about $2.1 billion. The deal, completed that December, was Citizens’ largest yet and also its first foray outside its New England base. Included in the purchase were 3...
The group remained on the prowl for acquisitions in 2004. Citizens began the year by completing a $136 million acquisition of Thistle Group Holdings Co., parent of Roxborough Manayunk Bank, which ran 15 branches in the Philadelphia area (including one in Delaware) and had assets of $914 million. In March Citizens acquired the Bridgeport, Connecticu...
Citizens Bank of Rhode Island; Citizens Bank of Massachusetts; Citizens Bank New Hampshire; Citizens Bank of Connecticut; Citizens Bank of Pennsylvania; Citizens Bank (Delaware); Citizens Bank, N.A.; Charter One Bank, N.A.; Citizens Automobile Finance, Inc.; Citizens Capital, Inc.; CCO Investment Services Corp.; CCO Mortgage Corp.; RBS Business Cap...
Bank of America Corporation; Sovereign Bancorp, Inc.; The PNC Financial Services Group, Inc.; JPMorgan Chase & Co.; KeyCorp; Fifth Third Bancorp; Huntington Bancshares Incorporated; Commerce Bancorp, Inc.; National City Corporation; Citigroup Inc.; HSBC USA Inc.; TD Banknorth Inc.; LaSalle Bank Corporation.
Arditi, Lynn, “Citizens Completes $350-Million Deal for State Street,” Providence Journal, May 7, 1999, p. F1. ———, “Citizens to Buy Grove,” Providence Journal-Bulletin, November 5, 1996, p. E1. Bailey, Douglas M., “Scot Bank to Buy Citizens Financial,” Boston Globe, April 29, 1988, p. 25. Barry, David G., “Citizens Bank Buys into the Bay State,” B...
Headquartered in Providence, Rhode Island, where its roots date back to 1828, Citizens offers retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.
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Our commitment to continual environmental, social and governance (ESG) progress is woven into the fabric of our business, as we work to create a thriving, sustainable, inclusive future for all of our stakeholders. Citizens Financial Group, Inc. is among the largest and oldest retail banks in the US. Join us in Celebrating our 10 Year IPO ...
