Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont. Citizens is a wholly owned subsidiary of the Royal Bank of Scotland Group, with headquarters in Edinburgh, Scotland, UK. Following the financial rescue of RBS, the company's controlling shareholder is currently the British government. As of 2011, Citizens was the 15th-largest bank in the United States. Citizens was first... established in 1828 as the High Street Bank in Providence, Rhode Island. In 1871, the Rhode Island legislature gave a second charter to establish the Citizens Savings Bank which eventually acquired its parent group to form Citizens Trust Company. The bank then expanded through Rhode Island, opening a total of 29 branches in that state. Citizens Financial Group was established as a holding company when the bank acquired The Greenville Trust Company in 1954. In 1985, Citizens changed status from a mutual savings bank to a federal stock savings bank.
more