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                                                                      Exhibit 21
                                                                     (Form 10-K)

                                 SUBSIDIARIES OF
                          CITIZENS BANKING CORPORATION




                                                                                              Jurisdiction or
                                                              Ownership                      Incorporation of
                 Subsidiaries                                Percentage                        Organization
- -------------------------------------------------------------------------------------------------------------------
                                                                                     
Citizens Bank                                                                                    Michigan
     Citizens Commercial Leasing Corporation                      100%                           Michigan
     CB Financial Services, Inc.                                  100%                           Michigan
     Citizens Title Services, Inc.                                100%                           Michigan
     Citizens Bank Mortgage Corporation                           100%                           Michigan
     Citizens Service Company, Inc.                               100%                           Michigan
         Citizens Bank Consumer Finance, LLC                        1%                           Michigan
     Citizens Bank Consumer Finance, LLC                           99%                           Michigan
Citizens Bank - Illinois, N.A.                                    100%                     National Association
F&M Bancorporation, Inc.                                          100%                           Wisconsin
     F&M Bank -Wisconsin                                          100%                           Wisconsin
         Pulaski Capital Corporation                              100%                            Nevada
     F&M Bank -Iowa                                               100%                             Iowa
         Security Bancservices, Inc.                              100%                             Iowa
     F&M Bank -Minnesota                                          100%                           Minnesota