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Banks plan merger: Citizens to buy Republic for $1.05 billion.
Byline: Katie Merx
Jun. 28--Flint-based Citizens Banking Corp. said Tuesday that it will buy Republic Bancorp Inc. of Ann Arbor for about $1.05 billion in stock and cash. The new company is to be called Citizens Republic Bancorp and be headquartered in Flint. The deal is likely to close in the last three months of the year, pending regulatory and shareholder approval.
The acquisition would create the seventh-largest banking company in Michigan and the 45th largest in the nation, with market capitalization of $2 billion, $13.9 billion in assets, $8.6 billion in deposits and 275 bank branches in Michigan, Wisconsin, Ohio, Iowa and Indiana. Michigan is home …
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