Eager to bolster its capital ratios, Citizens Republic Bancorp Inc. in Flint, Mich., said Monday that it will more than triple the number of shares it has outstanding, as part of a deal to exchange subordinated debt and trust-preferred securities for common stock.

The $12.1 billion-asset company, which has been struggling with heavy loan losses, said the exchange would add $199 million of Tier 1 common equity.

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