2nd Quarter 2006
Investor Presentation
July 2006
Filing pursuant to Rule 425 under the
Securities Act of 1933, as amended
Deemed filed under Rule 14a-12 under the
Securities Exchange Act of 1934, as amended
Filer: Citizens Banking Corporation
Subject Company: Republic Bancorp Inc.
Exchange Act File Number of Subject Company:
000-15734
Safe Harbor Statement
Discussions in this release that are not statements of historical fact (including statements that include terms
such as “will,” “may,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” and “plan”) are forward-
looking statements that involve risks and uncertainties, and Citizens’ actual future results could materially differ
from those discussed. Factors that could cause or contribute to such differences include, without limitation,
adverse changes in Citizens’ loan and lease portfolios resulting in credit risk-related losses and expenses
(including losses due to fraud, Michigan automobile-related industry changes and shortfalls, and other economic
factors) as well as additional increases in the allowance for loan losses; fluctuations in market interest rates,
the effects on net interest income of changes in Citizens’ interest rate risk position and the potential inability to
hedge interest rate risks economically; adverse changes in economic or financial market conditions and the
economic effects of terrorist attacks and potential attacks; Citizens’ potential inability to continue to attract core
deposits; Citizens’ potential inability to continue to obtain third party financing on favorable terms; adverse
changes in competition, pricing environments or relationships with major customers; unanticipated expenses
and payments relating to litigation brought against Citizens from time to time; Citizens’ potential inability to
adequately invest in and implement products and services in response to technological changes; adverse
changes in applicable laws and regulatory requirements; the potential lack of market acceptance of Citizens’
products and services; changes in accounting and tax rules and interpretations that negatively impact results of
operations or financial position; the potential inadequacy of Citizens’ business continuity plans or data security
systems; the potential failure of Citizens’ external vendors to fulfill their contractual obligations to Citizens;
Citizens’ potential inability to integrate acquired operations, including those associated with the pending merger
with Republic Bancorp; unanticipated environmental liabilities or costs; impairment of the ability of the banking
subsidiaries to pay dividends to the holding company parent; the potential circumvention of Citizens’ controls
and procedures; Citizens’ success in managing the risks involved in the foregoing; and other risks and
uncertainties detailed from time to time in its filings with the Securities and Exchange Commission. Other
factors not currently anticipated may also materially and adversely affect Citizens’ results of operations. There
can be no assurance that future results will meet expectations. While Citizens believes that the forward-looking
statements in this release are reasonable, you should not place undue reliance on any forward-looking
statement. In addition, these statements speak only as of the date made. Citizens does not undertake, and
expressly disclaims any obligation to update or alter any statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
2
Additional Information
In connection with the proposed merger, Citizens and Republic will file a joint proxy statement/prospectus with
the Securities and Exchange Commission (“SEC”). Investors and security holders are advised to read the
joint proxy statement/prospectus when it becomes available because it will contain important
information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus
(when available) and other documents filed by Citizens and Republic with the SEC at the SEC’s website at
http://www.sec.gov. Free copies of the joint proxy statement/prospectus (when available) and each company’s
other filings with the SEC may also be obtained by accessing Citizens’ website at http://www.citizensonline.com
under the Investor Relations section or by accessing Republic’s website at http://www.republicbancorp.com under
the Investor Relations section.
Citizens and Republic and their respective directors, executive officers and other members of their management
may be soliciting proxies from their respective shareholders in favor of the merger. Information concerning
persons who may be considered participants in the solicitation of Citizens’ shareholders under the rules of the SEC
is set forth in the Proxy Statement filed by Citizens with the SEC on March 22, 2006, and information concerning
persons who may be considered participants in the solicitation of Republic’s shareholders under the rules of the
SEC is set forth in the Proxy Statement filed by Republic with the SEC on March 14, 2006. Additional information
regarding the interests of those participants and other persons who may be deemed participants in the
transaction may be obtained by reading the joint proxy statement/prospectus regarding the proposed merger
when it becomes available. You may obtain free copies of these documents as described above.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall
there be any sale of securities in any jurisdiction in which such solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such jurisdiction.
3
Who We Are
4
Source: SNL DataSource Deposit Market Share Analysis
182 Branch & Financial Centers
193 ATMs
2nd largest bank holding company in
Michigan
68th largest bank in the U.S.
$7.8 billion in assets
$2.6 billion in trust assets under
administration
$1.0 bil market cap as of June 30, 2006
Key
Total
Deposits
Mkt. Share
Markets
Rank
Branches
Loans
$MM
%
Flint, MI
1
21
621
$
1,536
$
37.6%
Saginaw/BC/Mid, MI
2
22
719
$
679
$
17.3%
Southeast, MI
24
15
941
$
288
$
0.4%
Jackson, MI
3
9
365
$
238
$
14.7%
Lansing, MI
6
13
212
$
310
$
5.8%
Fox Valley, WI
7
5
128
$
160
$
5.4%
Our Turnaround Strategy
Since 2002
Build a strong proven management team:
Large, community, and multiple lines of business experience
Experience in turnarounds, culture change and transformations
Hire the best with strong injection of expertise
Front line authority and capability to provide solutions
Back office - “store support” for the front line
Enhance our product array to compete at all levels
Treasury/Cash Management
Business Deposit Products (bundled services, imaging, internet)
Wealth Management
Develop a rigorous and disciplined sales management
focus with consultative selling
Leverage sales culture and process to gain “fair share”
Streamlined operating model with high touch - high service
Lightning fast response time on decisions and problem resolution
5
Our Turnaround Strategy
Since 2002
Invest into high growth markets enhancing our
footprint
Southeast Michigan
New management team and seasoned personnel in Wisconsin
Make the necessary people and process changes to
enhance our operating model
Enterprise risk management
Program management process with certified leaders
Establish “core competencies” in Balance Sheet Mgt.
Credit Quality – underwriting, monitoring, collection
Asset/Liability Management
Institutionalize cost management
6
Proven Ability to Execute
* As reported includes continued and discontinued operations for 2002-2004 (see slide 25).
ROE%
EPS
ROA%
7
Proven Ability to Execute
Consistent Loan Growth Trends
* Restated – excludes Illinois subsidiary balances which are now treated as discontinued operations.
Total Loans (Less Mortgage & HFS)
After a Period of Rationalizing Credit
8
Proven Ability to Execute
Southeast Michigan Initiative
9
Proven Ability to Execute
Wealth Management
Annual
Quarterly
Total Revenue
Delivering growth through
objective and unbiased
investment advice utilizing an
open architecture environment
June 2006 (EOM)
Trust Assets under Administration
($2.6 Billion)
Personal Trust includes Private
Asset Management and Personal
Trust Services
10
0.29**
** As reported NCO% = 13bps; Excluding the 4Q05 $9.1 mil insurance settlement NCO% = 29bps.
Proven Ability to Execute
Credit Quality
* Restated – excludes Illinois subsidiary which is now treated as discontinued operations.
Net Charge-off %
NPA %
11
Proven Ability to Execute
High Grade Consumer Underwriting
12
Our Highest Strategic Priorities
Increase the emphasis on solutions driven, low cost deposit
generation from consumers, small business,
commercial/business banking, and municipalities
Strengthen and Execute our Value Proposition in all lines of
business and markets as the best institution to bank with based
on enhanced client service and outstanding human capital
Differentiated service quality
Proactive operating model with Lightning Fast response
Increase the effectiveness of our operating model in all of our
community markets
Continue the emphasis on growing loans, total deposits, and fee
based services while increasing cross-sales within and across
lines of business
Accelerate the sales cycle in Commercial and Wealth and leverage the cross-
sell opportunities
Continue to maintain our strong commitment to balance sheet
management:
Credit Quality
Asset/Liability Management
Regulatory Compliance
13
Immediately GAAP and cash accretive to EPS for all shareholders
Financial returns improved - utilizes existing operating capacity for improved efficiency
Combines strong credit cultures
Attractive dividend yield of 4.75%
45th largest bank holding company in the United States
$2.0 billion in combined market capitalization (1)
275 branches in five states
$13.9 billion in assets, $8.6 billion in deposits and $2.6 billion in trust assets
Well positioned for further growth
The New Citizens Republic Bancorp
Company Profile
Enhanced Scale
Complementary
Business Mix
Combined sales and service culture enhances product suite and distribution channels
Broader retail, commercial banking, and commercial real estate businesses
Expanded wealth management capabilities and scale
Balanced and focused mortgage banking business
Attractive SBA, RV/Marine and asset-based lending businesses
Geographically
Diversified
Footprint
Improves existing MI footprint while expanding presence into new, attractive markets
Well positioned to compete with super regionals and community banks
Significantly increases SE Michigan presence - almost 5% of total Michigan deposits
Stable niche franchises in WI, OH, IA and IN
Key social issues decided - new executive management focused on execution
Familiar markets and businesses
In-market transaction - reasonable cost savings assumptions
Manageable
Execution Risk
Financially
Attractive
(1) Based on CBCF average closing price for 10 trading days ended 6/26/06
14
Merger Caps Turnaround Efforts
Initiated in 2002
Republic adds significant senior management depth and talent to current Citizens leadership
team
Long-term track record of consistent financial performance and shareholder value creation
Republic ranked #17 in Fortune’s 2006 “100 Best Companies to Work For” - 6 th year on list
and Working Mother magazine’s list of “100 Best Companies For Working Mothers” - 5th year
in a row
Build a Strong
Management Team
and Corporate
Culture
Enhance Product
Array to Compete
at All Levels
Adds #1 SBA bank lender based in Michigan - 11 consecutive years
Adds exceptional mortgage banking and commercial real estate capabilities and expertise
Potential to leverage Citizens’ wealth management, commercial and cash management
products across Republic’s customers and markets
Rigorous and
Disciplined Sales
Management
Focus
Republic operates a streamlined operating model emphasizing high touch and high
quality service - aligned with Citizens’ new strategy
Further leverages sales culture and processes to gain market share and growth
19% of Republic’s deposits are from Southeast Michigan
Significantly increases Southeast Michigan presence from 20 to 39 locations
Increases % of deposits in large MSAs from 54% to 64%
Republic also adds $375+ million in deposits and 14 branches in Cleveland and Akron, Ohio
Invest in High
Growth Markets/
Enhance Footprint
Establish Core
Competency in
Balance Sheet
Management
Republic maintains a lower risk credit profile - 48% of loans in residential mortgages
Republic’s historical charge-off metrics among the best in Midwest
peer group (14 bps on average over past 3 years)
Citizens Goals
Republic Impact
15
16
Top Markets — Total Deposits(1)
(in millions)
Source: SNL Financial as of 6/30/05
(2) Includes Corporate Public Funds deposit balances
(1) Does not include the impact of potential divestitures
(2)
(2)
Creates Leading Michigan Franchise with Capacity for
Additional Deposit Growth
Note: Excludes RBNC’s Indianapolis LPO
Rank 1 1 9 1 2
Deposits by State
Complementary Geographic
Footprints
Total Deposits - Michigan
Rank
Institution
Branches
Deposits
($mm)
Mkt Share
(%)
1
LaSalle Bank
263
19,098
13.7
2
Comerica
254
18,305
13.1
3
JPMorgan Chase
256
17,166
12.3
4
Fifth Third
263
12,670
9.1
5
National City
264
9,916
7.1
6
Flag
star Bancorp
108
8,151
5.9
7
Pro Forma Citizens/Republic
1
89
6,581
4.7
8
Royal Bank of Scotland
127
5,197
3.7
9
Huntington Bancshares
117
4,943
3.6
10
Chemical Financial
134
2,878
2.1
17
(2) Deposit data as of 6/30/05
(3) Loan data as of 3/31/06
Source: SNL Financial and management data
Southeast Michigan Deposits (39 Branches(1)(2))
(in millions)
Southeast Michigan Loans(1)(3)
(in millions)
Southeast Michigan Demographics
Attractive Southeast Michigan
Presence
Growth
2005
‘0
0
–
‘
05
E
‘05
–
‘10
E
Population
Southeastern MI Average
(
1
)
6.26
%
6.73
%
Michigan
3.74
4.08
National
6.15
6.26
Household Income
Southeastern MI Average
(1)
$
84,674
15.09
%
17.97
%
Michigan
Median
50,118
12.16
10.95
National
Me
dian
49,747
17.98
17.36
(1)
Selected Southeast
ern Michigan counties include:
Livingston, Macomb, Oakland
and Washtenaw
Retail Banking
Consumer
Lending
Commercial
Real Estate
SBA Lending
Mortgage
Banking
Commercial and
Residential
Construction
Lending
Complementary Business Focus and Mix
Provide Significant Potential for Revenue Enhancements
Retail Banking
Consumer Lending
Commercial Banking
Treasury/Cash Mgmt.
Rate Risk Mgmt. and
International
Services
Wealth Management
Specialty Lending
RV/Marine
Asset Based
Mortgage Banking
1Q06 Net Revenues: $142.4mm
Superior Product Suite
Source: Company filings
18
Manageable Execution Risk
Key decisions have been made
Senior leadership roles defined at announcement
Other key social issues have been agreed upon
Friendly,
in-market
Merger
Mitigating
Integration Risk
Complementary branch networks with modest branch overlap
Complementary product offerings and capabilities
Strong regional brand
Reasonable and achievable cost savings assumptions (9% of combined expenses)
Revenue enhancements have been identified but not included in the pro forma
financials
Experienced
Management
Teams
Successful acquisition integration a core competency of both management teams
Compatible service-oriented corporate cultures and strategies
Repositions balance sheet to mitigate interest rate risk, improve liquidity,
reduce reliance on wholesale funding, and improve quality of earnings
Aligns credit policies, guidelines, discipline, and processes - moving the
combined organization to Citizens’ standards and practices
Risk
Management
19
20
Pro Forma Financial Impact
Analysis (1)
2007
($mm, except per share data)
70% Phase-in
100% Phase-in
Citizens Stand Alone Net Income (2)(3)
88
88
Republic Stand Alone Net Income (2)(3)
70
70
Cost Savings (After-tax) (2)(4)
13
18
Other Adjustments (After-tax) (2)(5)
(14)
(14)
Pro Forma Net Income
157
162
Pro Forma Avg. Fully-Diluted Shares (mm)
76
76
Pro Forma GAAP EPS
2.07
2.13
Pro Forma Cash EPS
2.16
2.23
Impact to Citizens Republic
Accretion/(Dilution) to GAAP EPS (%)
0.9
4.0
Accretion/(Dilution) to Cash EPS (%)
3.3
6.3
(1)
Based on 0.515 exchange ratio for an implied transaction value of $1,048 mm and 15% cash/85%
stock consideration
(2)
Assumes 35% tax rate
(3)
Assumes 2007 GAAP EPS estimates for Citizens of $2.05 and Republic of $0.93
(4)
Assumes $28mm in pre-tax cost savings phased-in 70% in 2007 and 100% in 2008
(5)
CDI amortization, net of Republic’s existing CDI amortization, cost of financing, and funding of
,
restructuring costs (5.00% pre-tax). Includes impact of balance sheet restructuring and purchase
accounting mark-to-market adjustments
Favorable Pricing
21
Citizens/Republic
Median of Comparable
Transactions
(1)
Price/Forward Earnings (x)
15.4
(
2
)
19.9
Price/Forward Earnings with Cost Savings (x) (3)
12.
2
14.1
Price/
Book Value (x)
2.5
8
(
4
)
2.21
Price/
Tangible Book Value (x)
2.
60
(
4
)
3.04
(1)
Bank and thrift transactions between $500 million and $2.5 billion announced after 1/1/04
(2)
Based on I/B/E/S estimates
(3)
Assumes fully phased-in cost savings
(4)
Financial data as of 3/31/06
Sources of Cost Savings
Annual cost savings
already identified
$28 million or 9% of combined expense base
70% phase-in for 2007 and 100% thereafter
Anticipated $87 million pre-tax restructuring costs
22
Sources of Cost Savings/Restructuring Costs
(
1
)
Includes severance, change of controls for Republic & Citizens, and retention
(
2
)
Includes fixed asset write-offs and branding including signage & colleratal materials
(
3
)
Includes capital improvements/conversion costs, advisory fees, other balance
Sheet fees, contract costs, and restricted stock
(
$mm
)
Fully Phased-in
Annual
Cost Savings
Restructuring
Costs
Personnel
$16
$
4
0
(1)
Facilities/Branches
2
17
(2)
Systems/Other
10
30
(3)
Total (Pre-tax)
$28
$
87
Opportunity to Improve Deposit
Mix and Costs
23
Potential EPS Benefit Related to
Change in Republic’s Deposit Mix
and Pricing
(%)
(%)
Non
-
Interest Bearing
16.3
9.0
Interest-Bearing Demand
14.8
6.0
MMDA & Savings
26.3
27.9
Time Deposits
42.6
57.1
Total
100.0
100.0
Cost of Deposits
2.28
2.8
1
Source: Company filings as of 3/31/06
Financial Highlights
Summary Income Statement
(Full Year)
25
Summary Income Statement
(Quarterly)
26
Summary of Operations - In Mil
2Q05
1Q06
2Q06
Net Interest Income
68,779
$
67,475
$
65,990
$
Provision
1,396
3,000
1,139
Noninterest Income
23,109
22,657
23,691
Gain(loss) on sale of sec.
37
7
54
Gain on sale of Royal Oak
-
2,906
-
Total Noninterest Income
23,146
25,570
23,745
Noninterest Expense
60,990
60,122
60,065
Contribution to Charitable Trust
-
1,450
-
Total Noninterest Expense
60,990
61,572
60,065
Pre-tax Income
29,539
28,473
28,531
Net Income
20,565
$
20,756
$
20,907
$
EPS (Diluted)
$0.47
$0.48
$0.49
ROE%
12.62%
12.86%
12.96%
ROA%
1.06%
1.10%
1.09%
NIM%
3.92%
3.97%
3.84%
Asset/Liability Management
Continues to Provide a Strong NIM%
* Restated – excludes Illinois subsidiary which is now treated as discontinued operations.
27
Loan Highlights During a Highly
Competitive Period (in millions – end of period)
Commercial
grew 8.9% from
2Q05 to 2Q06
(all markets
showed growth in
2005)
Home Equity has
grown 72% from
2002 to 2005
Indirect has grown
29% from
2002 to 2005
Current Economic
Cycle – Flat
Consumer Volume
* Restated – excludes Illinois subsidiary balances which are now treated as discontinued operations.
28
Consistent Core Funding Base
(in millions – end of period)
* Restated – excludes Illinois subsidiary balances which are now treated as discontinued operations.
Core %
60%
Core %
64%
Core %
70%
Core %
60%
Core %
57%
Core %
66%
29
Key Credit Quality Ratios
30
* Restated – excludes Illinois subsidiary which is now treated as discontinued operations.
** As reported 2005 NCO% = 13bps; Excluding the 4Q05 $9.1 mil insurance settlement NCO% = 29bps.
2002*
2003*
2004*
2005
2Q05
2Q06
Credit Quality
LLR/NPA
118%
160%
240%
292%
245%
330%
LLR/NPL
130%
178%
285%
358%
284%
420%
NPA/Total Loans
1.70%
1.47%
0.94%
0.71%
0.89%
0.61%
NCO%
1.61%
0.89%
0.40%
0.13%
**
0.17%
0.14%
LLR%
2.01%
2.35%
2.27%
2.07%
2.17%
2.00%
Capital Management
* Estimate
31
Strategic Rationale for the
Combination
Enhances scale and overall franchise value
Improves geographic footprint—expands presence in
attractive markets
Diversifies revenue mix through complementary lines
of business adding tremendous revenue potential
Adds management depth and talent
Manageable execution risk
GAAP and Cash EPS accretive in 2007
Creating a Leading Midwestern Franchise
32
Why Invest In Citizens?
Citizens Banking Corporation (CBCF) stock:
Proven execution ability will drive success of the
integration and business strategies
The new company will possess significantly enhanced
scale/efficiency and an improved geographic footprint
Complimentary business mix will drive more revenue
opportunities
Strong management teams committed to long-
term growth, prudent risk management, and
shareholder value
Dividend Yield of 4.75% at the end of the second
quarter, with share price upside potential
Long-term outlook for earnings growth is positive
33
Appendix
Transaction Summary
Implied Per Share Consideration(1):
$2.08 cash plus 0.4378 shares of CBCF common stock per
RBNC share
$13.86 / share (1)
Implied Transaction Price:
RBNC shareholders to elect between CBCF stock and cash,
subject to proration
Stock / Cash Election:
Flint, Michigan
Corporate Headquarters:
Chairman—Jerry Campbell (until YE 2007) when Bill Hartman
succeeds (until YE 2012)
CEO—Bill Hartman (until YE 2010) when Dana Cluckey
succeeds
President & COO—Dana Cluckey
Executive Management:
9 Citizens directors / 7 Republic directors
Board of Directors Composition:
Fourth quarter 2006
Expected Closing:
$36mm (3.5% of transaction value)
Termination Fee (mutual):
Completed
Due Diligence:
(1) Based on CBCF average closing price for 10 trading
days ended 6/26/06. Includes net options.
Approximately 85% stock / 15% cash
Fixed number of CBCF shares—approximately 33.2 million
Fixed cash amount of approximately $155 million
Consideration Mix:
Stock Component to RBNC Shareholders:
Cash Component to RBNC Shareholders:
Transaction Value at Announcement:
$1.048 billion (1)
56% Citizens / 44% Republic
Pro Forma Ownership:
Regulatory; Citizens and Republic shareholders
Approvals:
35
Strong, Experienced
Management Team
Jerry Campbell
Chairman
Charlie Christy
CFO
Tom Menacher
Merger Integration
Roy Eon
Operations/
Technology
Debra Hanses
Human
Resources
Clint Sampson
Regional Chairman –
MI Commercial
Banking
John Schwab
Chief Credit Officer
Cathy Nash
Retail Banking
Jim Schmelter
Wealth
Management
Bill Hartman
CEO
Dana Cluckey
President & COO
Randy Peterson
Regional Chairman—
Wisconsin and Iowa
Cathy Rosenthal
Corporate
General Auditor
36
Diversified Loan Portfolio
(as of 1Q06)
Citizens
Republic
Citizens Republic
Combined
Source: Company filings and management data
37
Diversified Fee Income Base
(as of 1Q06)
Citizens
Republic
Citizens Republic
Combined
Note: Citizens and combined exclude the $2.9 million
gain on the sale of Royal Oak, MI office building
Source: Company filings and management data
38
Strong Credit Quality —
Compares Favorably to Peers
Net Charge-Off/Total Loans (%)
Net Charge-Off/Total Loans (%)
Allowance/NPAs (%)
Source: Company filings and SNL Financial
(1)
Peers include FMBI, FMER, MAFB, ONB, PRK and SKYF
Allowance/NPLs (%)
Citizens
Republic
Note: 2005 excludes the 4Q05 $9.1 mil insurance settlement; 2005 as
reported NCO% = 13bps.
39
Combined Balance Sheet
40
Source: Company filings and management data
For the Period Ended
3/31/06
Estimated at Close
($mm)
Citizens
Republic
12/31/06
(1)
Assets:
Cash and Investment Securities
1,767
1,
277
2,
687
Net Loans
5,490
4,
729
9,606
Goodwill and Intangibles
65
4
7
78
Other Assets
341
23
4
6
49
Total Assets
7,
66
3
6,
244
13,7
20
Liabilities and Equity:
Deposits
5,
524
3,
084
8,
545
Borrowings
1,3
80
2,
690
3,1
62
Other Liabilities
82
6
3
29
2
Total Liabilities
6,986
5,
837
11,99
9
Capital Securities
25
–
182
Common Equity
6
52
4
0
7
1,
54
0
Total Liabilities and Equity
7,
663
6,
244
1
3,7
20
Capital Ratios:
TCE/TA
(2)
7.
72
%
6.
4
5
%
5.89
%
Tier 1
10
.
09
%
11.12
%
9.80
%
(1)
Includes purchase accounting adjustments, balance sheet restructuring and merger synergies/costs
(2)
Includes assumed divestiture levels
Loan Portfolio
More balanced loan portfolio
Loan Composition—As of 3/31/06
41
Citizens
Republic
Combined
($mm)
Total
3/31/06
% of
Total
Total
3/31/06
% of
Total
Total
3/31/06
% of
Total
Commercial
1,689
30.2
28
0.6
1,717
16.6
Commercial Real Estate
1,419
25.
4
1,727
36.4
3,146
30.5
Residential Mortgage
549
9.8
2,267
47.8
2,816
2
7.2
Home Equity
901
16.1
551
11.6
1,452
14.0
Direct Consumer
-
Other
208
3.7
174
3.6
382
3.7
Indirect Consumer
826
14.8
-
-
826
8.0
Total Loans
5,592
100.0
4,
7
47
100.0
10,
3
39
100.0
Held for Sale
13
–
25
–
38
–
Total Gross Loans
5,605
–
4,
7
72
–
10,
377
–
Yield on Loans
6.83
%
–
6.32
%
–
6.60
%
–
Source
:
Company filings
and management
data
Deposit Profile
Deposit Composition—As of 3/31/06
42
Citizens
Republic
Combined
($mm)
Total
3/31/06
% of
Total
Total
3/31/06
% of
Total
Total
3/31/06
% of
Total
Noninterest
-
Bearing
900
16.3
278
9.0
1,178
13.7
Interest
-
Bearing Demand
816
14.8
186
6.0
1,002
11.6
MMDA & Savings
1,453
26.3
859
27.9
2,312
26
.9
Time Deposits
2,355
42.6
1,761
57.1
4,116
47.8
Total Deposits
5,524
100.0
3,084
100.0
8,60
8
100.0
Cost of Total Deposits
2.28
%
–
2.8
1
%
–
2.47
%
–
Source:
Company filings
Pro Forma Market Position(1)
43
State
Branches
(No.)
Deposits
($mm)
Rank
(No.)
Cumulative %
of Franchise
Michigan
189
6,581
7
79.1
Wisconsin
54
1,057
13
91.8
Ohio
16
377
39
96.3
Iowa
11
305
33
100.0
Top 10
Markets
Flint, MI
(2
)
33
1,969
1
23.7
Lansing
-
East Lansing, MI
(2
)
18
1,118
1
37.1
Detroit
-
Warren
-
Livonia, MI
36
906
9
48.0
Saginaw
-
Saginaw Township North, MI
16
496
1
54.0
Jackson, MI
13
407
2
58.8
Cleveland
-
Elyria
-
Mentor, OH
12
342
16
62.9
Ann Arbor, MI
8
207
10
65.4
Green Bay, WI
9
174
10
67.5
Bay City, MI
5
160
4
69.5
Appleton, WI
5
160
7
71.4
(1)
Does not include the impact of potential divestitures
(2)
Includes Corporate Public Funds deposit balances
Source:
SNL Financial
as of 6/30/05
