An investigation on behalf of current investors of Citizens Republic Bancorp, Inc. (Public, NASDAQ: CRBC) over possible shareholder claims concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers was announced.

According to the investigation by a law firm the investigation focuses on possible claims that certain Citizens Republic Bancorps senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. Certain senior officers at Citizens Republic Bancorp, Inc, were awarded salaries, bonuses, stock options and other forms of long-term, incentive or retirement compensation that was, so the investigation, excessive or unwarranted based on Citizens Republic Bancorps performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting. The investigation by the law firm is also investigating claims that the prior compensation awarded at Citizens Republic Bancorp, Inc is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow Citizens Republic Bancorp, Inc. (NASDAQ: CRBC) stockholders to influence or control future compensation decisions at Citizens Republic Bancorp.

Citizens Republic Bancorp, Inc. is a diversified banking and financial services company that is registered as a bank holding company. Citizens Republic Bancorp provides a range of banking and financial services to individuals and businesses through its subsidiaries Citizens Bank and F&M Bank, Iowa. Citizens Republic Bancorp is located in Flint, MI and hat $13billion in total assets in 2008. Shares of Citizens Republic Bancorp, Inc. (NASDAQ: CRBC) traded recently at $1.55 per share, down from over $12 in 2008 and over $25 in 2007.