Citizens Republic Modifies Certain Terms of Its Exchange Offers

FLINT, Mich., Aug. 27 /PRNewswire-FirstCall/ -- Citizens Republic Bancorp,
Inc. (Nasdaq: CRBC) announced today that it has amended certain terms of its
offer to issue its common shares in exchange for its outstanding 5.75%
Subordinated Notes due 2013 (the "Subordinated Notes") and its outstanding
7.50% Enhanced Trust Preferred Securities of Citizens Funding Trust I (the
"Trust Preferred Securities"). The "Relevant Price" at which Citizens' common
shares will be valued for purposes of determining the exchange ratio in each
of the exchange offers will now be calculated based on the average volume
weighted average price for the five consecutive trading day period ending on
and including the expiration date of the exchange offers (currently September
14, 2009), rather than the second trading day immediately preceding the
expiration date. In addition, Citizens has added a provision allowing holders
of Subordinated Notes or Trust Preferred Securities to limit their tender of
those securities in the manner described under "The Exchange Offers - Your
Option to Limit Common Share Ownership to 9.99%" in the prospectus referred to
below. Tendering holders desiring to avail themselves of this provision may
contact D. F. King & Co., Inc., the exchange agent for these offers, at the
number listed below.

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Except as described in this press release, the terms and conditions of the
Exchange Offers, as set forth in the prospectus referred to below, are
unchanged.

Citizens has filed a registration statement (including a prospectus) with the
Securities and Exchange Commission ("SEC") for the Exchange Offers. Before you
invest, you should read the prospectus in the registration statement and other
documents Citizens has filed with the SEC for more complete information about
Citizens and the Exchange Offers. The registration statement relating to the
Exchange Offers has not yet become effective and common shares may not be sold
nor may offers to buy be accepted in connection with the Exchange Offers prior
to the time that such registration statement becomes effective. You may obtain
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the prospectus and letters of transmittal may be obtained upon
request by contacting D. F. King & Co., Inc., the information and exchange
agent at (800) 714-3312 or, for banks and brokers, at (212) 269-5550
(collect).

This press release is for informational purposes only and is not an offer to
buy or the solicitation of an offer to sell, any securities. The solicitation
of offers to exchange the Subordinated Notes and the Trust Preferred
Securities for common shares will only be made pursuant to Citizens'
prospectus dated August 27, 2009, and related documents that Citizens has
filed or will file with the SEC.

Citizens has filed a definitive proxy statement with the SEC in connection
with the solicitation of proxies by the board of directors for the special
meeting of shareholders to which this communication, in part, relates. The
proxy statement contains important information that shareholders should read
before making any voting decision. The proxy statement and proxy are
available for free by visiting the SEC's web site at www.sec.gov or Citizens'
website at www.citizensbanking.com.

Corporate Profile
Citizens Republic Bancorp, Inc. is a diversified financial services company
providing a wide range of commercial, consumer, mortgage banking, trust and
financial planning services to a broad client base. Citizens serves
communities in Michigan, Ohio, Wisconsin, and Indiana as Citizens Bank and in
Iowa as F&M Bank, with 231 offices and 267 ATMs. Citizens Republic Bancorp is
the largest bank holding company headquartered in Michigan with roots dating
back to 1871. Citizens Republic Bancorp is the 42nd largest bank holding
company headquartered in the United States. More information about Citizens
Republic Bancorp is available at www.citizensbanking.com.

SOURCE Citizens Republic Bancorp, Inc.

Charles D. Christy, EVP & Chief Financial Officer, +1-810-237-4200,
charlie.christy@citizensbanking.com, or Kristine D. Brenner, Director of
Investor Relations, +1-810-257-2506, kristine.brenner@citizensbanking.com