Citizens Republic Bancorp Hosts Analyst Meeting

Keefe Bruyette & Woods recently accompanied members of Citizens Republic Bancorp's CRBC senior management team in a series of meetings with investors in the Mid-Atlantic and New York. Discussions primarily focused on the company's plan to accelerate losses over the next two quarters in order to expedite CRBC's return to profitability and the impact that plan may have on the company's capital position. Following the meetings, KBW is adjusting 2010 earnings estimate. Risks that may prevent achievement of our earnings outlook and price target include interest rate volatility and a material increase in credit costs due to a further downturn in the Midwest economy. Further, a meaningful increase in funding costs and/or nonperforming asset levels that could lead to further declines in the net interest margin would likely negatively impact our earnings and price target expectations. KBW has a Market Perform rating and $1.00 PT on CRBC CRBC closed Friday at $0.65