Citizens Finl Group Inc Stock Price, News & Analysis

Citizens Financial Group has introduced an Earned Wage Access solution designed to help clients attract and retain talent by providing employees on-demand access to their earned wages. This program, which has gained traction, reflects a growing trend as 70% of treasury executives reported offering similar access. The solution allows employers to fund wages at no additional cost and integrates seamlessly with existing payroll systems. Additionally, Citizens plans to launch Citizens Paid Early™ to enable customers to receive direct deposits up to two days early.

Citizens Financial Group has launched the new EverValue Checking account, designed to enhance banking access for underbanked communities. This account features overdraft protection, a low monthly fee of $5, and no overdraft fees. Both the EverValue and Student Checking accounts have received certification from the CFE Fund as meeting the Bank On National Account Standards. Citizens aims to provide safe, affordable banking products, further solidifying its role in increasing financial access.

Citizens Financial Group (CFG) and Investors Bancorp (ISBC) have received regulatory approval for Citizens' acquisition of Investors, expected to close by mid-April 2022. The merger aims to enhance Citizens' growth in the Northeast, particularly in the New York City metro and New Jersey regions. After closing, customers will be transitioned to Citizens' systems by Q1 2023. Notable management changes include key members of Investors joining Citizens' leadership team to ensure a smooth integration process. Citizens holds $188.4 billion in assets, while Investors has approximately $28 billion in assets.

Citizens Financial Group (NYSE: CFG) has received regulatory approval for its acquisition of Investors Bancorp (NASDAQ: ISBC), anticipated to close by mid-April 2022, pending customary conditions. This merger aims to enhance Citizens' presence in the Northeast, particularly in the New York City metro area. Post-acquisition, Investors' customers will transition to Citizens systems by Q1 2023. Key management from Investors will join Citizens to ensure a smooth integration and customer continuity. Citizens reported $188.4 billion in assets as of December 31, 2021.

Citizens Bank, N.A. announced the redemption of all outstanding Senior Notes totaling $750 million on April 26, 2022. This includes $500 million of 2.65% Senior Notes and $250 million of Floating Rate Senior Notes, both due on May 26, 2022. The redemption price will cover 100% of the principal plus any accrued interest. Following the redemption date, the Notes will cease to be outstanding, and interest will stop accruing. This action may impact the bank's capital structure and liquidity.

Citizens Financial Group, Inc. (NYSE: CFG) announced its schedule for releasing 2023 quarterly financial results and hosting conference calls. The calls are set for: April 19, 2023 (Q1), July 19, 2023 (Q2), October 18, 2023 (Q3), and January 17, 2024 (Q4), all at 9 am ET. Investors can expect dial-in information and supplemental materials to be available later. Citizens Financial Group, headquartered in Providence, Rhode Island, has $188.4 billion in assets as of December 31, 2021.

Citizens Financial Group, Inc. has announced an increase in its prime lending rate from 3.25 percent to 3.50 percent, effective March 17, 2022. This adjustment reflects banking trends and influences lending practices. Citizens Bank offers a diverse range of financial products and services aimed at various customer segments, and had $188.4 billion in assets as of December 31, 2021.

Citizens Financial Group (NYSE: CFG) has appointed Polly N. Klane as General Counsel and Chief Legal Officer, starting April 4. Previously, Klane served as Senior Vice President and Deputy General Counsel at Capital One. With over 25 years of legal experience in financial services, she is expected to enhance the company's legal strategy and support its transformation efforts. Klane takes over the role from Malcolm Griggs, who will continue as Chief Risk Officer.

Citizens has launched its annual Small Business Community Champion Award Contest, now in its fifth year, to honor small businesses' contributions. The contest offers $10,000 each to 30 businesses, including at least ten minority-owned and ten women-owned. Submissions are open until 5:00 p.m. ET on March 17, 2022. Eligible entrants are for-profit small businesses with five or more employees, operational for at least two years, and must be customers of Citizens or located in its service area. More details can be found on their contest website.