KBW Transfers Coverage Of CRBC

Citizens Republic Bancorp, Inc CRBC reported a 1Q11 operating loss of $0.19/share, KBW reports. “Credit showed meaningful improvement again this quarter as the company largely wrapped up its accelerated disposition plan,” KBW writes. “NPAs, commercial watch list, and loans 30-89 days past declined 34%, 29%, and 48% q/q, respectively. Following 1Q, we are transferring coverage of CRBC and raising our 2011 earnings estimate.” Citizens Republic Bancorp closed Monday at $0.90.