FLINT, Mich., Feb. 26, 2013 /PRNewswire/ -- Citizens
Republic Bancorp (Nasdaq: CRBC) announced today that it will resume
interest payments on its outstanding 7.50% junior subordinated
debentures due September 2066 and
declared a dividend on the associated trust preferred securities
(NYSE: CTZ-PrA).
Regularly scheduled quarterly interest payments and related
trust preferred dividends were deferred in January 2010 although Citizens continued to
accrue for the obligations. A dividend payment will be made on
March 15, 2013 of the regularly
scheduled dividend and the 12 deferred payments, or $6.09375 per share, plus interest of $0.73496 per share, for a total of approximately
$6.82871 per share, to holders of
record on March 14, 2013. Thereafter,
Citizens intends to resume the regular quarterly interest payment
schedule.
Corporate Profile
Citizens Republic Bancorp, Inc. is a
diversified financial services company providing a wide range of
commercial, consumer, mortgage banking, trust and financial
planning services to a broad client base. Citizens serves
communities in Michigan,
Ohio, and Wisconsin with 219 offices and 249 ATMs.
Citizens is the largest bank holding company headquartered in
Michigan with roots dating back to
1871 and is the 57th largest bank holding company headquartered in
the United States. More
information about Citizens is available at
www.citizensbanking.com.
SOURCE Citizens Republic Bancorp, Inc.