October 4, 2010 |
Developer J. Brian O'Neill's lawsuit against his onetime primary lender, Citizens Bank, will proceed to trial despite the bank's opposition - and with considerably fewer claims. Philadelphia Common Pleas Court Judge Albert W. Sheppard Jr. rejected the bank's motion that he throw out the entire suit, in which O'Neill seeks $297 million. Sheppard did, however, dismiss six of the 11 claims, including that Citizens defamed and disparaged O'Neill as their relationship of eight years and more than $180 million in financing went bad. That deterioration, according to a lawsuit that has been especially caustic in tone, coincided with the start of the recent recession, when lenders in general grew skittish over just about any financing opportunity.
December 26, 2012 |
We heard a lot four years ago about how quick and massive intervention by the U.S. and European governments kept the financial system from collapsing. But lenders who lost billions financing dumb property speculation, and were bailed out by public investments, are still having to cope with the government conditions that kept them in business. It's one reason the economy remains slow. For example, the Royal Bank of Scotland (RBS) has been resisting pressure to sell its U.S. arm, including Citizens Bank , to raise badly needed cash.
December 3, 2001 |
Citizens Bank of Pennsylvania took control of 345 branches of Mellon Bank over the weekend, removing the name of a well-known Pennsylvania family from branches across the region. Citizens Financial Group Inc., a unit of Royal Bank of Scotland based in Providence, R.I., completed the transaction with Mellon at midnight Friday. The $2 billion deal included Pittsburgh-based Mellon's 650,000 consumer and small-business accounts, including $13.4 billion in deposits, $6.1 billion in loans, and branches in Pennsylvania, New Jersey and Delaware.
November 6, 2001 |
Also in this column: Niche insurer seeks investors Internet card lender crashes Here's your receipt - and a pint of ale? Royal Bank of Scotland, not content to have purchased 350 former Mellon Bank branches in Pennsylvania through its Citizens Bank subsidiary, has bought an additional 456 retail locations in the United Kingdom. Only these aren't bank branches. They are pubs. Royal Bank is paying brewer Scottish & Newcastle nearly $400 million for the chain of local taverns, about one-fifth of what it paid for the Mellon branches.
July 18, 2001 |
Local customers of Mellon PSFS are about to get a new bank. The 124 Mellon branches in the area - as well as hundreds of other branches in Pennsylvania, Delaware, New Jersey and Virginia - will be sold to Citizens Financial Group as part of a deal announced yesterday between the two banking companies. Mellon Financial Corp., parent of Mellon PSFS, said it was selling its retail banking business in those states for $2.1 billion in cash to Citizens Financial, the U.S. arm of Royal Bank of Scotland Group.
March 28, 2002 |
Would-be bank thieves beware: If you attempt to rob a Citizens Bank in Philadelphia, there will be a price on your head. Because of a string of unsolved robberies at six branches throughout the city, Citizens Bank of Pennsylvania announced yesterday that it is offering a reward of up to $10,000 for information leading to the arrest and prosecution of at-large thieves as well as future robbery suspects. The latest robbery of a Citizens Bank occurred Monday, when a gunman entered the branch at 1417 Walnut St. in Center City, showed a teller a weapon, and presented a demand note before making off with an undisclosed amount of cash.
September 5, 2003 |
To accommodate an increasingly 24/7 clientele, Citizens Bank of Pennsylvania said yesterday that it was extending Sunday hours to all 161 of its branches in the Philadelphia area as of this weekend. The move will catapult Citizens ahead of Cherry Hill's Commerce Bank, long identified with seven-day branch banking, in number of branches open Sunday. Commerce offers Sunday banking at 102 local branches. "We want to be there when the customer wants us," said Stephen D. Steinour, chairman and chief executive officer of Citizens Bank.
May 30, 2015 |
Herb Hortman, 57, of Doylestown, an airplane pilot and president of Hortman Aviation Services Inc. in Northeast Philadelphia, died Sunday, May 17, of a heart ailment at Doylestown Hospital. Mr. Hortman succeeded his father, Norman, in running one of the oldest flight schools in the region. The school has been in continuous existence for 35 years; it has been based at Northeast Philadelphia Airport since the 1980s. Dozens of Mr. Hortman's students have gone on to professional aviation careers, mimicking their teacher, who was an international airline pilot.
September 17, 2013 |
With his company's name on the baseball park, Daniel K. Fitzpatrick, 50, president of Citizens Bank for Pennsylvania, New Jersey, and Delaware, spends many a fine evening at the bank's skybox, entertaining clients. But his first contact with one famous Phillie came decades earlier. Question: You pitched against Jamie Moyer when he played for St. Joe's and you were at La Salle, right? Answer: We were opposite starting pitchers in a game at La Salle in 1984. After losing that game to Jamie and St. Joe's and seeing his great command of pitch location, I knew I should study harder and prepare for a career outside of baseball.
October 14, 2011
Online banking operations at Citizens Bank of Pennsylvania were disrupted for several hours on Friday by what the bank described only as a "technical issue. " By late afternoon, Citizens said, business was fully operational, though online customers experienced residual delays because of high volume. For six days in early October, Bank of America customers also were slowed in, or prevented from, accessing their accounts online. It also cited a technical problem.