Welcome to our dedicated page for Citizens Finl Group news (Ticker: CFG), a resource for investors and traders seeking the latest updates and insights on Citizens Finl Group stock.
Citizens Financial Group, Inc. (NYSE: CFG) generates a steady flow of news as one of the nation’s oldest and largest financial institutions. Headquartered in Providence, Rhode Island, the company regularly issues updates on its retail and commercial banking activities, capital markets initiatives and corporate governance matters. This news page aggregates those announcements so readers can follow developments affecting CFG stock and the broader Citizens franchise.
Citizens frequently releases earnings-related news, including quarterly and full-year results, conference call schedules and accompanying investor presentations. These announcements are often furnished in Form 8-K filings and referenced in press releases that detail when financial results and supplemental materials will be available to investors.
The company also publishes capital and funding updates, such as offerings of preferred stock depositary shares, changes to preferred stock designations, and redemptions of senior notes or preferred stock series. News items have described public offerings of depositary shares representing interests in preferred stock, the intended use of proceeds, and subsequent redemptions of outstanding securities.
Other Citizens news covers interest rate and product changes, including adjustments to the prime lending rate at Citizens Bank, N.A., as well as dividends declared on various series of preferred stock. Corporate and leadership developments, such as executive appointments and participation in investor conferences, are also announced through press releases and related SEC filings.
In addition, Citizens highlights strategic and recognition-related news, including survey-based insights into U.S. middle market M&A activity and awards such as being named Bank of the Year for the U.S. by The Banker. Investors and observers can use this news stream to track Citizens’ business focus, funding actions and market-facing activities over time.
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.
Citizens Financial Group, Inc. (NYSE: CFG) announced that Vice Chairman and Head of Commercial Banking, Don McCree, will participate in the RBC Capital Markets Financial Institutions Conference on March 8, 2022, at 10:00 am ET. A live webcast of the event will be available at investor.citizensbank.com. Citizens Financial, one of the largest financial institutions in the U.S. with $188.4 billion in assets, provides a range of banking and financial services across various regions.
Citizens Financial Group announced the completion of its acquisition of 80 branches from HSBC Bank U.S.A. on February 18. The deal expands Citizens’ presence particularly in the New York City Metro area, adding over 800,000 new customer accounts. The acquisition strengthens Citizens' retail footprint, contributing to a top-10 deposit ranking in the NYC market. Citizens also plans further hiring to enhance services in wealth, mortgage, and business banking sectors.
Citizens Financial Group, Inc. (NYSE: CFG) declared several quarterly dividends on its preferred stock. These include:
- $15.9375 per share on Series C (6.375% Fixed-to-Floating Rate).
- $15.875 per share on Series D (6.350% Fixed-to-Floating Rate).
- $12.50 per share on Series E (5.000% Fixed-For-Life).
- $14.125 per share on Series F (5.650% Fixed-Rate Reset).
- $10.00 per share on Series G (4.000% Fixed-Rate Reset).
Payment is scheduled for April 6, 2022, to shareholders of record by March 22, 2022.
According to Citizens' annual payments and treasury survey, 85% of business leaders prioritize real-time payments (RTP) capabilities when selecting a banking partner. This marks the first time RTP surpassed cost considerations in importance. The survey revealed 73% want secure mobile-optimized treasury management platforms, with significant frustration expressed over current technologies. Additionally, 81% believe RTP can transform their payment processes. Citizens emphasizes their early adoption of RTP and intelligent automation solutions to enhance business strategy.