Citizens Financial Group IPO Info
Company Name: Citizens Financial Group
Stock Symbol: CFG
Exchange: NYSE
Status: Priced
IPO Date: 9/24/2014
IPO Price:
21.50 (
15.63%)
Underwriters
Morgan Stanley, Goldman, Sachs & Co.
Amount of Offering: N/A
Number of Shares Offered: 140 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A
Company Description
Citizens Financial Group is the 13th largest retail bank holding company in the United States according to SNL Financial with $130.3 billion of total assets as of June 30, 2014. Headquartered in Providence, Rhode Island, we deliver a broad range of retail and commercial banking products and services to more than five million individuals, institutions and companies. Our approximately 18,050 employees strive to meet the financial needs of customers and prospects through approximately 1,230 branches and approximately 3,215 ATMs operated in an 11-state footprint across the New England, Mid-Atlantic and Midwest regions and through our online, telephone and mobile banking platforms. We have 90 retail and commercial non-branch offices located both in our geographic footprint and in nine states and the District of Columbia outside our branch footprint. Our 11-state branch banking footprint contains approximately 29.9 million households and 3.1 million businesses according to SNL Financial.
Financial Data
As of June 30, 2014, we had loans of $88.8 billion, deposits of $91.7 billion and stockholders� equity of $19.6 billion, and we generated revenues of $5.0 billion for the twelve months ended June 30, 2014. We operate our business through two operating segments: Consumer Banking and Commercial Banking. As of June 30, 2014, the contributions of Consumer Banking and Commercial Banking to the loans in our operating segments were approximately 56% and 44%, respectively.
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