SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

SHAFER THOMAS C

(Last)

(First)

(Middle)

328 S. SAGINAW

(Street)

FLINT

48502

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/22/2009

3. Issuer Name and Ticker or Trading Symbol
CITIZENS REPUBLIC BANCORP, INC. [ CRBC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	27,372.9515	I	By 401(k)
Common Stock	13,488	I	By IRA
Common Stock	204,920	I	Jt. w/ Spouse
Restricted Stock	1,987⁽¹⁾	D
Restricted Stock	5,564⁽²⁾	D
Restricted Stock	7,500⁽³⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	05/21/2004	05/21/2009	Common Stock	18,500	$30.5	D
Stock Option (Right to Buy)	05/18/2005	05/18/2010	Common Stock	17,940	$16.66	D
Stock Option (Right to Buy)	12/15/2005	05/22/2011	Common Stock	23,800	$25.42	D
Stock Option (Right to Buy)	12/21/2004	05/17/2012	Common Stock	20,000	$33.41	D
Stock Option (Right to Buy)	04/21/2005	05/29/2013	Common Stock	18,000	$26.01	D
Stock Option (Right to Buy)	04/21/2005	05/12/2014	Common Stock	10,800	$29.06	D
Stock Option (Right to Buy)⁽⁴⁾	05/31/2005	05/31/2015	Common Stock	5,874	$29.015	D

Explanation of Responses:

1. Award was granted on 06/28/2006 with 3,975 shares vested prior to filing of form 3. Remaining shares will vest on 06/28/2009.

2. Award was granted on 05/23/2007 with 2,782 shares already vested prior to filing of form 3. Remaining shares will vest on 05/23/2009 and 05/23/2010.

3. In general, the transfer restrictions on these shares will lapse at the rate of 33 1/3 percent on each of May 22, 2009, May 22, 2010 and May 22, 2011, assuming the recipient's continued employment with Citizens Republic Bancorp, Inc.

4. The stock option grants are 100% vested prior to filing of the form 3.

	By: /s/ Thomas Shafer	02/02/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.