Citizens Bank Forms Asset-Based Lending Group

FLINT, Mich., May 8  /PRNewswire-FirstCall/ -- Citizens Bank is pleased to announce that it has formed Citizens Bank Business Finance, an asset-based lending unit.  The unit operates from offices located at Seven Mile Crossing, Suite 290, 38701 Seven Mile Road, Livonia, Michigan, 48152.

William R. Hartman, President, Chairman and CEO announced, "The formation of Citizens Bank Business Finance is part of our overall strategy to expand our commercial loan portfolio, augment our commercial lending product set, and enhance our ability to deliver customized financial solutions to commercial clients and the marketplace."

Citizens Bank Business Finance targets middle-market companies located throughout the Midwest with revenues ranging from $20 - $150 million. Citizens Bank Business Finance focuses on providing asset-based financing solutions to businesses facing a transition event such as growth, ownership change or restructuring.  Products include working capital revolving credits, machinery and equipment and real estate term financing and DIP facilities ranging from $3 - $20 million.  The unit will also participate in larger asset-based transactions.

Citizens Bank Business Finance team consists of seasoned asset-based lending professionals with over 100 years of combined experience in structuring financial solutions to fit middle-market borrowers' specific needs.

  For more information, contact:
  Mark Widawski, President, at 248-324-8643 or 
  Ray Green, Executive Vice President, at 248-324-8642 or
   
  Brian Banning, First Vice President, at 248-324-8646 or
   
  Tim Hanchett, Senior Vice President, at 248-324-8640 or
   
  Chuck Stephenson, Senior Vice President, at 248-324-8644 or
   
  Jaime Vartanian, Vice President, at 248-324-8645 or
   
  Tim McLaughlin, Senior Vice President, at 248-324-8641 or
   



Citizens Banking Corporation (NASDAQ:CBCF) is a diversified financial services company providing a wide range of commercial, consumer, mortgage, trust, and financial planning services to a broad client base.  Citizens Banking Corporation serves markets through Citizens Bank offices in Michigan and Wisconsin, and through F&M Bank offices in Iowa.  Citizens Banking Corporation has roots going back to 1871 in Flint, Mich., and is the second- largest bank holding company headquartered in Michigan.  Citizens is the 64th largest bank holding company in the United States.  More information about Citizens Banking Corporation is available at http://www.citizensonline.com/ .

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DATASOURCE: Citizens Bank



CONTACT:  Perashina LaMotte of Citizens Bank, [phone]



Web site:  http://www.citizensonline.com/

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