02/16/2016
Citizens announces $21 million in new financing for Village of St. Edward
Funds will be used to build new unit, improve facilities and refinance debt
AKRON – Citizens Bank has provided $21 million in new financing for the Village of St. Edward, which will provide funds to build a new 28-bed Memory Care Unit, improve existing facilities and refinance bond debt.
The Village of St. Edward is a Continuing Care Retirement Community on a single campus in Fairlawn, Ohio. The property is currently comprised of an 81-bed skilled nursing facility, a 73-unit assisted living facility and a 77-unit independent living apartment complex.
“The Citizens Commercial Banking team brought us a great proposal under a tight timeframe,” said John Stoner, President and CEO of Village of St. Edward. “They understand us and our business. Citizens bankers are dependable financial partners who excel at execution and provide great service. We look forward to continue working with them in the future.”
“The Village of St. Edward provides an important service in the community,” said Joseph DiRocco, President of Citizens Bank, Ohio. “We are pleased to be able to help the management team at the Village of St. Edward achieve their strategic and financial goals.”
For more information, go to Citizens Commercial Banking.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $138.2 billion in assets as of December 31, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
