Citizens Financial Group, Inc. - CFG STOCK NEWS

Citizens Financial Group (NYSE: CFG) has successfully completed its acquisition of Investors Bancorp, alongside the acquisition of HSBC’s East Coast branches. These strategic moves expand Citizens' market presence, adding over 200 branches in New York City and Philadelphia areas, bolstering its appeal to middle market and small business customers. The merger integrates Investors Bank into Citizens Bank, enhancing customer offerings and service capabilities.

Citizens Financial Group has appointed Ben Vinzant as Chief Data and Analytics Officer, effective June 27, 2022. Joining from JPMorgan Chase, where he integrated AI and ML in sales, Vinzant aims to enhance Citizens' data strategy. His previous experience includes over a decade at Wells Fargo. Beth Johnson, Chief Experience Officer, highlighted the need for a robust data ecosystem to meet evolving customer needs. Citizens, headquartered in Providence, Rhode Island, holds $188.4 billion in assets as of December 31, 2021.

New research from Junior Achievement and Citizens reveals that 54% of high school students feel unprepared for their financial future, with rising education costs being a primary concern. Over two-thirds (69%) are worried about how these costs impact their educational plans, leading many to consider in-state options or two-year degrees. A significant 41% have not taken financial literacy classes. The survey also highlights a notable digital divide, as 66% of students pursuing four-year degrees are concerned about accessing necessary technology.

Citizens Financial Group (NYSE: CFG) and Investors Bancorp (NASDAQ: ISBC) announced that their merger is set to close on April 6, 2022, pending customary conditions. The merger received regulatory approval from both the Federal Reserve and the Office of the Comptroller of the Currency. Citizens, with $188.4 billion in assets, aims to enhance services through this strategic merger with Investors, which manages approximately $28 billion in assets. This merger is anticipated to create synergies and expand market reach.

Citizens Financial Group (CFG) and Investors Bancorp (ISBC) announced the expected closing date of their merger on April 6, 2022, pending the satisfaction of customary closing conditions. The merger has already received regulatory approval from the Federal Reserve and the Office of the Comptroller of the Currency. Citizens, with $188.4 billion in assets as of December 31, 2021, aims to expand its offerings through this strategic merger with Investors, which has assets of approximately $28 billion. Both companies foresee potential synergies from this union.

Citizens Financial Group (NYSE: CFG) will report its first quarter 2022 earnings on April 19, 2022. The news release and supporting materials will be accessible on their investor relations website. Management will hold a live conference call on the same day at 9:00 am ET, with dial-in details provided. A replay will be available after the call until May 19, 2022. As of December 31, 2021, Citizens reported $188.4 billion in assets, making it one of the largest financial institutions in the U.S.

Citizens Financial Group has introduced an Earned Wage Access solution designed to help clients attract and retain talent by providing employees on-demand access to their earned wages. This program, which has gained traction, reflects a growing trend as 70% of treasury executives reported offering similar access. The solution allows employers to fund wages at no additional cost and integrates seamlessly with existing payroll systems. Additionally, Citizens plans to launch Citizens Paid Early™ to enable customers to receive direct deposits up to two days early.

Citizens Financial Group has launched the new EverValue Checking account, designed to enhance banking access for underbanked communities. This account features overdraft protection, a low monthly fee of $5, and no overdraft fees. Both the EverValue and Student Checking accounts have received certification from the CFE Fund as meeting the Bank On National Account Standards. Citizens aims to provide safe, affordable banking products, further solidifying its role in increasing financial access.

Citizens Financial Group (CFG) and Investors Bancorp (ISBC) have received regulatory approval for Citizens' acquisition of Investors, expected to close by mid-April 2022. The merger aims to enhance Citizens' growth in the Northeast, particularly in the New York City metro and New Jersey regions. After closing, customers will be transitioned to Citizens' systems by Q1 2023. Notable management changes include key members of Investors joining Citizens' leadership team to ensure a smooth integration process. Citizens holds $188.4 billion in assets, while Investors has approximately $28 billion in assets.