US Bank Snaps Up 94 RBS Citizens Chicago Branches

Law360, New York (January 7, 2014, 4:55 PM EST) -- U.S. Bancorp on Tuesday announced that it will acquire 94 Chicago-area bank branches and other operations from RBS Citizens Financial Group for an undisclosed sum.

The deal will see U.S. Bancorp, and its lead bank U.S. Bank NA, add around $5.3 billion in deposits, $1.1 billion in loans and 800 employees at the 94 RBS Citizens branches in and around Chicago for a deposit premium of $315 million, or 6 percent. Those branches operated under the Charter One Bank name.

“This transaction will double our market...
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