About Citizens Bank
Paper, plastic, or coin? No matter -- RBS Citizens Financial Group can handle it all. The company, formerly known as Citizens Financial Group, is the parent of Citizens Bank and Charter One Bank has more than 1,500 branches -- many of which are located in supermarkets -- in about a dozen states in the Northeast and the Midwest. The banks offer standard – more... retail and commercial services as well as investment services, insurance, and employer-sponsored retirement plans. RBS Citizens Financial also operates a network of non-branch banking offices in about 40 states. One of the largest foreign-owned banks in the country, RBS Citizens Financial Group is the US banking arm of Royal Bank of Scotland.
After being bought by RBS in 1988, RBS Citizens Financial went on an acquisition spree, making more than two dozen deals. Since 2000, the company has gobbled up Mellon's retail banking network, Medford Bancorp and Port Financial in Massachusetts, and Pennsylvania's Commonwealth Bancorp and Thistle Group Holdings, among others. The company expanded into the Midwest by buying superregional bank Charter One in 2004. Following its acquisition of Charter One, its largest deal yet, RBS Citizens Financial retained the Charter One Bank name in Midwestern markets, but converted the bank's branches to Citizens Bank in New York and Pennsylvania. That was the company's last major acquisition, however.
Like many banks, the company was hamstrung by the mortgage crisis. It posted a nearly $1 billion loss in 2008 as its nonperforming loans roughly doubled. The developments compelled the company to reevaluate its acquisition strategy and it has reversed its field: RBS Citizens Financial sold 18 of its branches in northern New York to Community Bank System in 2008 and all 65 Charter One branches in Indiana to Old National Bancorp the following year. The company also pegged certain operations as noncore, including its dealer finance program and portions of its auto lending business. The company returned to profitability in 2010 as the economy began its halting recovery. In 2012 RBS Citizens Financial unloaded more branches, selling nearly 60 supermarket locations to People's United Financial.
Parent company RBS has been far from immune to the economic downturn as well. It reported the largest-ever loss in British corporate history in 2008. The UK government took a nearly 60% stake in RBS that year and upped that to around 85% in 2009. – less
Citizens Bank Employer Reviews
Citizens Bank
Good Company - Challenged - Customer Service Oriented
Assistant Manager/Business Banker (Current Employee), Pittsburgh, PA – May 16, 2013
Citizens Bank
Very professional place to work
Assistant Bank Manager (Former Employee), Boston, MA – May 16, 2013
Citizens Bank
I love my banking job
Assistant Manager (Current Employee), Rochester, NY – May 13, 2013
Citizens Bank
Competitive work environment
Teller (Former Employee), Colebrook, NH – May 10, 2013
Citizens Bank
opportunity for advancement
Vice President-Commercial Relationship Manager (Current Employee), Auburn Hills, MI – May 9, 2013
Working at Citizens Bank
What are the average starting salaries, bonuses, benefits and travel requirements like at Citizens Bank?
What do you like best about working at Citizens Bank? Are there a...
It's always hard to know what to expect when going in for that interview -- and preparation can make all the difference. What is the interview process like at Citizens Ban...
Every business has its own style. What is the office environment and culture like at Citizens Bank?
Are people dressed in business casual, jeans and t-shirts, or full-on ...
Do you work at Citizens Bank? How did you find the job? How did you get that first interview?
Any advice for someone trying to get in?
What do you think - will Citizens Bank grow fast? Are they expanding their staff? How does Citizens Bank stack up against the competition?
