Citigroup's acquisition of Associates First Capital will give Citi new ways to cross-sell insurance and other products. Associates First has over 2,600 branches and 27 million customers in the United States and 12 other nations. These branches can become portals for Citigroup's financial products. The deal will also make Citigroup the biggest originator of home equity loans and give it a lead in credit card receivables. Citigroup executives note that the company's $77 billion or so in overseas deposits can be used in lending in international markets through Associates First. S&P Equity Research analyst Stephen Biggar says that more cross-selling will probably occur with the new customer set brought by Associates First. Associates Home Equity/Associates Financial Services was the third-biggest U.S. originator of subprime loans in 1999. Associates First's structure will probably be taken apart and its individual business lines blended into existing Citigroup units, with some reductions. A.G. Edwards & Sons financial services analyst Diana Yates says that Citigroup may find that it does not want all of Associates First's businesses.