Citizens purchases Tenn. mortgage servicing company for $511M

PROVIDENCE-based Citizens Financial Group, the holding company for Citizens Bank, increased the holdings of its wealth management clients in Bank of America by 484 percent in the last quarter. The two financial institutions are the No. 1 and No. 2 largest consumer banks in Rhode Island based in local deposits. / BLOOMBERG NEWS FILE PHOTO/KELVIN MA
PROVIDENCE-based Citizens Financial Group, the holding company for Citizens Bank, increased the holdings of its wealth management clients in Bank of America by 484 percent in the last quarter. The two financial institutions are the No. 1 and No. 2 largest consumer banks in Rhode Island based in local deposits. / BLOOMBERG NEWS FILE PHOTO/KELVIN MA
PROVIDENCE – Citizens Financial Group Inc. has entered into an agreement to have Citizens Bank N.A. acquire the assets of Tennessee-based Franklin American Mortgage Co. for $511 million in cash, the company announced Thursday. Citizens said that as of March 31, Franklin American Mortgage managed $41.4 billion mortgage servicing portfolio, and that its assets had a…
To read the full story, Subscribe or
Subscribe to PBN
- Advertisement -