Citizens Republic Bancorp, a bank holding company based in Flint, Mich., that provides mortgage banking and other financial services, has priced concurrent offerings of $79.6 million worth of common stock and $120.4 million worth of convertible preferred stock. The common stock offering was priced at $4 per share, and the series A contingent, convertible, perpetual, noncumulative preferred stock has a liquidation preference of $50 per share, the company reported. Citizens granted the underwriters an option to buy up to an additional 15% on each offering to cover any overallotments. The company can be found online at http://www.citizensbanking.com.
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