CRBC - Citizens Republic Bancorp, Inc. (NASDAQ Stock)

[Volatile22]

Added this one to my picks list yesterday. Close was .88 and today in premarket its up 23% to 1.09(been as high as 1.14). Looking good here!

Some basic backround on the Co.

Citizens Republic Bancorp, Inc. is a diversified banking and financial services company that is registered as a bank holding company. Citizens provides a range of banking and financial services to individuals and businesses through its subsidiaries Citizens Bank and F&M Bank, Iowa. These services include deposit products, such as checking, savings, and money market accounts, and loan products, such as business, personal, residential, and commercial mortgage loans, and other consumer-oriented financial services, such as individual retirement account (IRA) accounts and safe deposit and night depository facilities. Automated Teller Machines (ATMs), which provide around the clock banking services to customers, are installed in many locations in the Corporation's service areas.

Shareholder Equity
Shares Outstanding 126.3 M
Institutional Ownership 58.11%
Number of Floating Shares 123.8 M
Short Interest as % of Float 10.32%
Avg Volume (10 days)3,153,177
52 - Week Range
0.50 - 11.00
7/9/09 - 9/19/08

[greencat]

CRBC is looking like its going to make a nice move. I like the set-up after holding support. Has plenty of room to move.

CRBC Chart

[Volatile22]

CRBC is making a move late today.

[BadThad]

My advice....stay far, far away from this one. Fundamentally, it's a HORRIBLE bank play. I wouldn't surprized it they vanish, they have been bleeding cash and are in desparate need of more. On top of their financial problems, they are seriously diluting!

Citizens Republic Bancorp Shareholders Approve Proposal
3:08p ET September 16, 2009 (PR NewsWire)
Citizens Republic Bancorp, Inc. (Nasdaq: CRBC) announced today that its shareholders voted to approve the proposal to amend the company's Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 150 million to 1.05 billion shares. Approximately 65.4 million shares, or 51.8% of the outstanding shares entitled to vote, voted in favor of the proposal.

"I would like to thank our shareholders for their continued support. Approval of the Common Stock Proposal is the first step toward successfully completing our current exchange offers, and further strengthening our balance sheet to withstand current and future economic challenges," commented Cathleen H. Nash, president and chief executive officer.

Citizens has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") in connection with its offers to issue its common shares in exchange for its outstanding 5.75% Subordinated Notes due 2013 (the "Subordinated Notes") and its outstanding 7.50% Enhanced Trust Preferred Securities of Citizens Funding Trust I (the "Trust Preferred Securities") (the "Exchange Offers"). Before you invest, you should read the prospectus in the registration statement and other documents Citizens has filed with the SEC for more complete information about Citizens and the Exchange Offers. You may obtain these documents for free by visiting EDGAR on the SEC Web site at U.S. Securities and Exchange Commission (Home Page). Alternatively, the prospectus and letters of transmittal may be obtained upon request by contacting D.F. King & Co., Inc., the information and exchange agent at (800) 714-3312 or, for banks and brokers, at (212) 269-5550 (collect).

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell, any securities. The solicitation of offers to exchange the Subordinated Notes and the Trust Preferred Securities for common shares will only be made pursuant to Citizens' prospectus dated September 10, 2009, and related documents that Citizens has filed or will file with the SEC.

Also, NASDAQ is about to delist them and this will become a Pinky......arrrrgggggg.

[Volatile22]

hahaha wow what a wreck!!!

I saw it moving and thought I could make something of it. I had my order in at .76 and decided against it.

[BadThad]

Always do your fundamental before buying, even greencat caught this one because it met his TA screen. You gotta be careful!

[PennyPicker]

Originally Posted by BadThad

Always do your fundamental before buying, even greencat caught this one because it met his TA screen. You gotta be careful!

i'm glad SMC has someone who does a thorough fundamental analysis.

[greencat]

CRBC has moved into bullish territory. Nice setup and it made the move.

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CRBC Chart

[greencat]

CRBC has made an outstanding move...

Originally Posted by greencat

CRBC has moved into bullish territory. Nice setup and it made the move.

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CRBC Chart

[greencat]

CRBC back on the launching pad. It will make a higher high and I am still expecting a return to former glory..

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CRBC Chart