▁this ▁ac quisition ▁it ▁was ▁renamed ▁to ▁Cit iz ens ▁Republic ▁Ban cor p . ▁ ▁In ▁order ▁for ▁the ▁Federal ▁Reserve ▁Bank ▁to ▁appro ve ▁the ▁mer ger ▁with ▁Republic ▁Bank , ▁Republic ▁sold ▁seven ▁local ▁branches ▁to ▁First ▁Place ▁Fin an cial ▁under ▁its ▁Franklin ▁Bank ▁subs idi ary . ▁ ▁In ▁ 2 0 0 8 , ▁the ▁Ban cor p ▁took ▁a ▁$ 3 0 0 ▁U . S . ▁Tr ouble d ▁As set ▁Rel ief ▁loan ▁to ▁surv ive ▁the ▁economic ▁dow nt urn . ▁ ▁In ▁ 2 0 1 0 , ▁Cit iz ens ▁Republic ▁sold ▁its ▁F & M ▁Bank ▁Iowa ▁locations ▁for ▁$ 5 0 ▁million ▁c ash ▁to ▁Great ▁Western ▁Bank . ▁ ▁In ▁ 2 0 1 1 , ▁the ▁Bank ▁agreed ▁to ▁a ▁settlement ▁in ▁a ▁Red lin ing ▁case ▁brought ▁against ▁them ▁as ▁Republic ▁Bank ' s ▁successor ▁by ▁the ▁US ▁Department ▁of ▁Justice ▁triggered ▁by ▁a ▁Board ▁of ▁Govern ors ▁of ▁the ▁Federal ▁Reserve ▁System ▁compla int ▁which ▁will ▁require ▁them ▁to ▁open ▁a ▁loan ▁office ▁in ▁a ▁Detroit ▁black ▁neighborhood ▁and ▁$ 3 . 6 ▁million ▁for ▁lo ans ▁and ▁gr ants ▁in ▁Wayne ▁County . ▁ ▁In ▁ 2 0 1 0 , ▁the ▁corpor ation ▁took ▁a ▁loss ▁of ▁$ 2 8 6 ▁million , ▁its ▁largest ▁annual ▁loss ▁in ▁three ▁years ▁of ▁consecutive ▁losses ▁while ▁turning ▁that ▁around ▁to ▁a ▁net ▁income ▁of ▁$ 1 7 ▁million ▁for ▁ 2 0 1 1 .