Citizens Republic Bancorp Announces Resignation of Chief Financial Officer

FLINT, Mich., May 4 /PRNewswire-FirstCall/ -- Citizens Republic Bancorp, Inc. (Nasdaq: CRBC) announced today the resignation of Charles D. Christy, its Executive Vice President and Chief Financial Officer, effective at the close of business on June 4, 2010.  Mr. Christy, who has been with Citizens as its chief financial officer since 2002, is leaving to pursue other opportunities.  

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"Citizens is deeply appreciative of Charlie's efforts, particularly in helping Citizens successfully raise needed capital, assist with the transition to new executive leadership and cope with the many other challenges of the last two years. We are sad to lose him as a member of our team but wish him the best in his future endeavors," said Cathleen H. Nash, President and Chief Executive Officer of Citizens. Nash continued, "The Board of Directors has appointed our Senior Vice President and Director of Financial Management and Credit Analytics, Lisa M. McNeely, to fill Charlie's responsibilities as CFO on an interim basis, effective June 5, 2010."

Charles Christy stated, "My decision to resign was finalized after long and careful consideration.  Now that Citizens is through the transition process and is on firm footing to persevere through the economic crisis, I felt that this was the right time to pursue my long-term career goals outside of Citizens."

Ms. McNeely has 28 years of experience in the banking industry.  She joined Citizens in February 2003, serving in a variety of capacities in its financial and accounting departments, and was appointed to her current position in November 2008.  Prior to joining Citizens, she served from October 1999 to February 2003 as Chief Financial Officer for Education One Group, a Sallie Mae subsidiary and the exclusive marketing and origination representative for Bank One Corporation's education loans.  Ms. McNeely worked at Bank One Corporation for 15 years in various capacities in its accounting and finance departments, most recently as Senior Vice President and Finance Director of its Consumer Lending Division, and at Capital Bank, NA in Houston, Texas for six years in its accounting department.

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, Wisconsin, and Indiana with 218 offices and 255 ATMs. Citizens is the largest bank holding company headquartered in Michigan with roots dating back to 1871 and is the 46th largest bank holding company headquartered in the United States. More information about Citizens is available at www.citizensbanking.com.

SOURCE Citizens Republic Bancorp, Inc.

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