$CFG (Citizens Financial Group, Inc.)

$CFG {{ '2016-06-29T09:09:18+0000' | timeago}} • Announcement

Financial company $CFG said Citizens Commercial Banking is leading a $450MM asset-based revolving credit facility for $YRCW, a transportation provider. $YRCW will use the financing for corporate purposes and to support the issuance of Letters of Credit.

$CFG {{ '2017-07-17T14:13:05+0000' | timeago}} • Announcement

$CFG's subsidiary Citizens Bank has hired Joseph Giampetroni as Regional Executive for the Midwest with responsibility for corporate banking in the greater Chicago area, Michigan and Ohio. Most recently at U.S. Bank, he headed up the Midwest Corporate Banking Division.

$CFG {{ '2017-06-15T13:35:01+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, said it will partner with Bottomline Technologies to deploy a market-leading online and mobile banking platform for its Commercial and Business Banking clients. Current Citizens clients are scheduled to begin migrating to the new platform in 2H18.

$CFG {{ '2017-05-30T20:23:02+0000' | timeago}} • Announcement

$CFG appointed Brendan Coughlin, president of Consumer Lending, to the company’s Executive Committee, effective immediately.

$CFG {{ '2017-05-02T15:05:28+0000' | timeago}} • Announcement

$CFG announced the acquisition of Western Reserve Partners LLC, a Cleveland-based merger and acquisition advisory firm. The transaction follows the 2016 launch of Citizens Capital Markets, which added broker-dealer capabilities to the bank's capital markets platform. The transaction will be funded with cash.

$CFG {{ '2017-04-20T15:34:29+0000' | timeago}} • Webcast

$CFG said it is looking for opportunities to optimize and improve its funding on both consumer and commercial side of businesses. The company said it is seeing good control of deposit cost in the consumer side and it is looking for ways to better fund the balance sheet.

$CFG {{ '2017-04-20T11:22:39+0000' | timeago}} • Announcement

$CFG's BoD declared a 2Q17 cash dividend of $0.14 per common share. The dividend is payable on May 17, 2017 to shareholders of record on May 3, 2017.

$CFG {{ '2017-04-20T11:21:28+0000' | timeago}} • Announcement

$CFG's assets of $150.3Bil as of March 31, 2017, up 7% from March 31, 2016. This is driven by $7Bil rise in loans and leases and loans held for sale, as well as a $3.9Bil rise in investment portfolio assets, partially offset by a $681MM reduction in other non-earning assets, largely derivatives tied to change in classification of margin payments.

$CFG {{ '2017-04-20T11:15:54+0000' | timeago}} • Announcement

$CFG's 1Q17 results reflect continued expense management discipline with nearly 1% positive operating leverage and a 50 point improvement in efficiency ratio to 62%. Provision expense fell by $6MM, as net charge-offs dropped to 33 points of average loans. Results also reflect 14% fall in tax expense on settlement of certain state tax matters.

$CFG {{ '2017-04-20T11:13:55+0000' | timeago}} • Announcement

$CFG reported a 43% jump in earnings for 1Q17 driven by higher net interest income, on continued loan growth and improved net interest margin. Net income rose to $320MM or $0.61 per share from $223MM or $0.41 per share last year. Revenue grew 12% to $1.38Bil. Underlying EPS increased 39% to $0.57.

$CFG {{ '2017-04-03T14:53:21+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, hired Chapin Bates as regional executive and head of NYC Metro. Bates joins Citizens following a successful 20-plus year career at $JPM, where he was Managing Director and Head of Middle Market Banking for Manhattan and Brooklyn.

$CFG {{ '2017-02-28T15:31:30+0000' | timeago}} • Announcement

$CFG announced the pricing of senior unsecured notes of $1Bil aggregate principal amount, consisting of $700MM 2.250% fixed-rate notes due 2020, $300MM floating-rate notes due 2020. The Bank intends to use the net proceeds from the offering for general corporate purposes.

$CFG {{ '2017-01-20T17:59:42+0000' | timeago}} • Webcast

$CFG said that there are interesting projects in the pipeline, but the money might be a little more circumspect with the higher interest rates. The company said it still sees good fundamental demand despite this headwind.

$CFG {{ '2017-01-20T17:22:16+0000' | timeago}} • Webcast

$CFG said that it has great product capability in the cash management side. Within the Commercial business, the company believes its products and payables are very strong and have nice growth associated with them.

$CFG {{ '2017-01-20T12:46:30+0000' | timeago}} • Announcement

$CFG's period-end loans and leases rose 2% to $107.7Bil at Dec. 31, 2016 from $105.5Bil at Sept. 30, 2016. This was driven by a $1.3Bil increase in commercial loans and leases and $940MM increase in retail loans. Average loans and leases for 4Q16 rose by $2.5Bil from last quarter, driven by an increase in retail and a rise in commercial loans.

$CFG {{ '2017-01-20T12:42:47+0000' | timeago}} • Announcement

$CFG's total assets rose by 2% to $149.5Bil at Dec. 31, 2016 from Sept. 30, 2016. This was driven by continued loan growth, including a $1.3Bil increase in commercial loans and leases and a $940MM increase in retail loans as well as $374MM rise in investment portfolio assets.

$CFG {{ '2017-01-20T12:37:15+0000' | timeago}} • Announcement

$CFG reported a 28% jump in 4Q16 earnings driven by strength in net interest income with 8% average loan growth and 13 basis point increase in net interest margin as well non-interest income growth of 4%. Net income rose to $282MM or $0.55 per share from $221MM or $0.42 per share last year. Total revenue climbed to $1.36Bil from $1.23Bil.

$CFG {{ '2016-12-20T13:06:14+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, leads a $50MM credit facility for Clyde, Ohio-based Revere Plastics Systems. The funds will be used by Revere Plastics Systems to refinance its debt. Citizens will also provide cash management and commercial card services for Revere Plastics Systems.

$CFG {{ '2016-12-20T12:58:40+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, provided a $22.5MM loan to Birmingham, Michigan-based Clio Holdings as a sole lender. The funds will be used by Clio Holdings for acquisitions, including its recent acquisition of Top Master, and for working capital.

$CFG {{ '2016-12-14T23:45:58+0000' | timeago}} • Announcement

$CFG appointed John F. Woods as EVP and CFO, who will be replacing interim CFO John Fawcett, effective March 4, 2017. Woods will join $CFG on Feb.13, 2017, and will serve on its Executive Committee and report to Chairman and CEO Bruce Van Saun.

$CFG {{ '2016-12-12T15:13:49+0000' | timeago}} • Announcement

$CFG has hired Brian K. Peters as Regional Executive and Head of the Southeast. Mr. Peters joins $CFG from SunTrust, where he served as Head of National Corporate Banking. He will be based in Atlanta.

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