Citizens Financial Group, Inc. reports banking results and capital actions for a bank holding company serving consumers, small businesses, middle-market companies, large corporations and institutions. Its recurring updates center on Consumer Banking and Commercial Banking activity, including deposits, mortgage and home equity lending, credit cards, small business loans, education loans, point-of-sale finance loans, wealth management and commercial banking services.
Company news also includes quarterly earnings materials, common and preferred stock dividend announcements, investor conference participation and community finance initiatives. Citizens’ public updates frequently connect financial performance with balance sheet trends, credit conditions, private banking activity, financial literacy programs, nonprofit partnerships and small-business support in the markets the bank serves.
Citizens Financial Group, Inc. (NYSE: CFG) has announced the expiration of its exchange offers for four series of subordinated notes. The offers, which expired on June 23, 2021, allow holders of unregistered notes to exchange them for registered notes under the Securities Act. The total principal amount for the exchanged notes includes $620.6 million in 2.638% subordinated notes due 2032, and $134.6 million in 4.300% fixed rate subordinated notes due 2031, among others. The settlement date for the exchange is expected to be June 25, 2021.
Citizens Financial Group (NYSE: CFG) announced the pricing of 300,000 shares of its 4.000% Series G Preferred Stock at an aggregate offering price of $300 million. Proceeds will partially redeem the Series A Preferred Stock on July 6, 2021. The offering is expected to close on June 11, 2021, pending customary conditions. BofA Securities, Barclays, J.P. Morgan, and Morgan Stanley are managing the offering. Investors are advised to read the prospectus associated with this offering for complete details.
Citizens Financial Group, Inc. (NYSE: CFG) has announced the redemption of all 250,000 shares of its 5.500% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A, with a liquidation preference of $1,000 per share. The redemption date is set for July 6, 2021, coinciding with the dividend payment date. Holders will receive the redemption price of $1,000 per share, excluding declared and unpaid dividends. After the redemption date, no shares will remain outstanding, and dividends will cease to accrue.
Citizens Financial Group (NYSE: CFG) announced that John Woods, Vice Chairman and CFO, will participate in the Morgan Stanley U.S. Financials, Payments & CRE Conference on June 15, 2021, at 9:30 am ET. A live webcast will be accessible at investor.citizensbank.com. As of March 31, 2021, Citizens Financial Group holds $187.2 billion in assets and provides a range of banking services across various regions, including integrated banking solutions and commercial banking products.
Citizens Financial Group (NYSE: CFG) has announced an agreement to acquire 80 East Coast branches and a national online deposit business from HSBC Bank U.S.A. The transaction involves approximately $9 billion in deposits and $2.2 billion in loans, with a 2% premium on deposits. This acquisition is projected to be immediately accretive to earnings and provide a 20% internal rate of return. It expands Citizens' presence in key markets, adding around 800,000 customers and enhancing long-term funding flexibility, supporting future loan growth opportunities.
Citizens Financial Group (NYSE: CFG) has initiated exchange offers for four series of its unregistered subordinated notes. The offers aim to exchange the existing Original Notes for registered Exchange Notes, under the Securities Act of 1933. The Exchange Offers will expire on June 23, 2021, and the expected settlement date is June 25, 2021. All terms of the Exchange Notes mirror those of the Original Notes, with registration rights now applicable. The Bank of New York Mellon will serve as the Exchange Agent for this process.
Citizens Financial Group (NYSE: CFG) announced that Chairman and CEO Bruce Van Saun will speak at the Bernstein 37th Annual Strategic Decisions Conference on June 3, 2021, at 2:30 pm ET. The conference will be held virtually, and interested parties can access the live webcast at Citizens Bank Investor Relations.
As of March 31, 2021, Citizens Financial has $187.2 billion in assets and offers diverse banking services including retail and commercial products across 11 states.
Citizens Financial Group (NYSE: CFG) announced the redemption of all outstanding 2.375% Senior Notes due July 28, 2021, effective June 28, 2021. The redemption price equals 100% of the principal amount plus accrued interest until the redemption date. Holders of the Notes will receive notification regarding the redemption process, with payments facilitated through The Depository Trust Company.
As of March 31, 2021, Citizens had $187.2 billion in assets and provides a range of banking services to individuals and businesses across the United States.
Citizens Financial Group (NYSE: CFG) announced that Vice Chairman and Head of Commercial Banking, Don McCree, will participate in Deutsche Bank's Global Financial Services & FinTech Conference on June 1, 2021, at 8:55 am ET. The event will be held virtually, and a live webcast can be accessed at investor.citizensbank.com. Citizens Financial Group, headquartered in Providence, Rhode Island, has assets totaling $187.2 billion as of March 31, 2021, offering a variety of banking products and services to diverse clientele.
Citizens Financial Group (NYSE: CFG) will announce its second quarter 2021 earnings on July 20, 2021. The earnings release and supplemental materials will be accessible online. A live conference call is scheduled for 9:00 AM ET, where management will discuss the results. Interested parties can call in by dialing 877-336-4437, using conference ID 2929135. A replay will be available after the call. Citizens Financial Group is a major financial institution with $187.2 billion in assets as of March 31, 2021, providing diverse banking services across multiple regions.