Citizens Banking Corp. of Flint, Mich., said it has uncovered a check-kiting scheme that could cost it $3.9 million this quarter.

The $4.8 billion-asset company said it will take charge in that amount as a result of the scheme, which it says was orchestrated by a Wisconsin car dealer. Citizens, which earned $15 million, or 54 cents per share, in the second quarter, said the one-time after-tax charge would reduce third-quarter earnings by about 14 cents per share.

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