M&A Deal Summary

US Bank Acquires Citizens Financial - 94 Charter One Branches & Other Assets

On January 7, 2014, US Bank acquired financial services company Citizens Financial - 94 Charter One Branches & Other Assets from Citizens Financial Group

Acquisition Highlights
  • This is US Bank’s 4th transaction in the Financial Services sector.
  • This is US Bank’s 6th transaction in the United States.
  • This is US Bank’s 1st transaction in Illinois.

M&A Deal Summary
Date 2014-01-07
Target Citizens Financial - 94 Charter One Branches & Other Assets
Sector Financial Services
Buyer(s) US Bank
Sellers(s) Citizens Financial Group
Deal Type Divestiture

Target

Citizens Financial - 94 Charter One Branches & Other Assets

Chicago, Illinois, United States
Citizens Financial - 94 Charter One Branches & Other Assets, includes 94 Charter One branches in the Chicago area, $5.3 billion in local deposits and $1.1 billion in locally originated loans for a deposit premium of approximately $315 million, or 6 percent of deposits.

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Buyer(S) 1

Buyer

US Bank

Minneapolis, Minnesota, United States
Category Company
Founded 1863
Sector Financial Services
Employees70,000
Revenue 28.0B USD (2023)
DESCRIPTION
US Bank office in downtown Duluth, Minnesota.
US Bank office in downtown Duluth, Minnesota.

U.S. Bank is a national consumer and commercial bank. The company operates more then 3,000 bank branches and offices across the US and provides a variety of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bank was founded in 1863 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 6 of 11
Sector (Financial Services) 4 of 5
Type (Divestiture) 3 of 4
State (Illinois) 1 of 1
Country (United States) 6 of 11
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-10 Syncada

Minneapolis, Minnesota, United States

Syncada LLC, is a complete Financial Supply Chain Network available for financial institutions and their clients around the globe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 Talech

Palo Alto, California, United States

Talech provides software that allows businesses to manage multiple operational tasks such as order management, inventory and staff reporting, customer management, business insights and payments processing in a single, integrated point-of-sale system.

Buy -

Seller(S) 1

SELLER

Citizens Financial Group

Providence, Rhode Island, United States
Category Company
Founded 1828
Sector Financial Services
Employees17,800
DESCRIPTION

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide banking products and services.

DEAL STATS #
Overall 7 of 7
Sector (Financial Services) 6 of 6
Type (Divestiture) 7 of 7
State (Illinois) 2 of 2
Country (United States) 7 of 7
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-28 Citizens Financial - 56 Branches

United States

Fifty-two of the branches are situated in Stop & Shop supermarkets and four are traditional branches.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Trinity Capital

Los Angeles, California, United States

Trinity Capital LLC is an independent investment banking boutique founded with the specific purpose of providing clients with unparalleled industry expertise and senior-level attention from the most qualified professionals.

Buy -
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