PROVIDENCE, R.I.–(BUSINESS WIRE)–Feb 22, 2022–
Residents Monetary Group, Inc. (NYSE: CFG or “Residents”) right now introduced the closing of its beforehand introduced acquisition of 80 East Coast branches and the nationwide on-line deposit enterprise from HSBC Financial institution U.S.A., N.A. (“HSBC”), efficient February 18. The acquisition extends Residents’ bodily presence to a number of enticing markets and provides greater than 800,000 new buyer accounts, accelerating the financial institution’s nationwide growth technique.
The 80-branch acquisition consists of 66 areas within the New York Metropolis Metro space, 9 areas within the Mid-Atlantic/Washington D.C. space, and 5 areas in Southeast Florida. The acquired branches have been re-branded as “Residents.”
“With this acquisition now full, we look ahead to bringing our new clients the complete vary of Residents capabilities,” stated Bruce Van Saun, Residents Chairman and Chief Government Officer. “Mixed with our pending acquisition of Traders Bancorp, these new branches will fill an necessary hole in our retail footprint whereas giving us a top-10 deposit rating in the important thing New York Metropolis Metro market.”
Added Van Saun: “We’re happy to welcome greater than 500 gifted HSBC colleagues to the Residents household and look ahead to further hiring in areas reminiscent of wealth, mortgage, and enterprise banking as we proceed to construct out our platform and place the financial institution for additional progress.”
Further data concerning the conversion of HSBC buyer accounts will be discovered on the Residents HSBC Useful resource Middle.
Cautionary Assertion About Ahead-Trying Statements
“Protected Harbor” Assertion beneath the Personal Securities Litigation Reform Act of 1995: This communication incorporates “ahead trying statements” — that’s, statements associated to future, not previous, occasions. On this context, forward-looking statements usually handle our anticipated future enterprise and monetary efficiency and monetary situation, and infrequently comprise phrases reminiscent of “anticipate,” “anticipate,” “intend,” “plan,” “pending,” “consider,” “search,” “see,” “will,” “would,” or “goal.” Ahead-looking statements by their nature handle issues which are, to completely different levels, unsure. Uncertainties that would trigger our precise outcomes to be materially completely different than these expressed in our forward-looking statements embody the failure to consummate the Traders Bancorp transaction or to make or take any submitting or different motion required to consummate any such transaction on a well timed matter or in any respect. These or different uncertainties might trigger our precise future outcomes to be materially completely different from these expressed in our forward-looking statements. We warning you, due to this fact, towards counting on any of those forward-looking statements. They’re neither statements of historic truth nor ensures or assurances of future efficiency. Extra details about elements that would trigger precise outcomes to vary materially from these described within the forward-looking statements will be discovered beneath “Danger Elements” in our Annual Report on Type 10-Ok for the 12 months ended December 31, 2020 as up to date by our Quarterly Experiences on Type 10-Q as filed with the USA Securities and Alternate Fee.
About Residents Monetary Group, Inc.
Residents Monetary Group, Inc. is likely one of the nation’s oldest and largest monetary establishments, with $188.4 billion in property as of December 31, 2021. Headquartered in Windfall, Rhode Island, Residents affords a broad vary of retail and business banking services and products to people, small companies, middle-market corporations, massive companies and establishments. Residents helps its clients attain their potential by listening to them and by understanding their wants as a way to provide tailor-made recommendation, concepts and options. In Client Banking, Residents gives an built-in expertise that features cell and on-line banking, a 24/7 buyer contact heart and the comfort of almost 3,000 ATMs and greater than 1,000 branches in 14 states and the District of Columbia. Client Banking services and products embody a full vary of banking, lending, financial savings, wealth administration and small enterprise choices. In Industrial Banking, Residents affords a broad complement of economic merchandise and options, together with lending and leasing, deposit and treasury administration companies, overseas alternate, rate of interest and commodity threat administration options, in addition to mortgage syndication, company finance, merger and acquisition, and debt and fairness capital markets capabilities. Extra data is obtainable at www.citizensbank.com or go to us on Twitter, LinkedIn or Fb.
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KEYWORD: UNITED STATES NORTH AMERICA RHODE ISLAND
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Residents Monetary Group, Inc.
Copyright Enterprise Wire 2022.
PUB: 02/22/2022 08:30 AM/DISC: 02/22/2022 08:32 AM
http://www.businesswire.com/information/house/20220222005721/en
Copyright Enterprise Wire 2022.