Qualify and Close business opportunities to meet or exceed monthly origination targets and acquisition goals; Advise customers on . CIT Bank is now a division of First Citizens Bank. The merger brings together complementary strengths of both organizations, combining First Citizens Bank's robust retail franchise and full suite of banking products withCIT's strong market position in nationwide commercial lending and direct digital banking. Completion of the merger is a testament to the many associates on our teams who have worked so diligently to get us here.". The combined company now operates under the First Citizens Bank name. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Now that we've merged our talents, systems and resources, you'll discover an even stronger financial partner by your side. 2023 First-Citizens Bank & Trust Company. to create an institution with more than $100 billion . From the close of business on Nov. 10 and the reopening of branches on Nov. 14, First Citizens converted 11CITBank branches in Arizona, California, Florida, Nebraska, Nevada and Texas to First Citizens Bank. The combined company, which will now operate under the First Citizens name, has more than $100 billion in assets, serving more than 600 branches in 22 states and a national direct bank. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. For healthcare decision-makers who want to maximize the value of their real estate while enhancing their ability to adapt, our national presence enables us to offer the right solutions in the right locations for your organization. First Citizens Contact Information Barbara Thompson Director of Corporate Communications and Brand Marketing 919-716-2716 barbara.thompson@firstcitizens.com Deanna Hart SVP, Investor Relations. in commercial banking, citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets However, they may become outdated over time, and should not be relied on as correct after their issue date. Web Address: firstcitizens.com Headquarters: 239 Fayetteville Street, Raleigh, North Carolina 27601 FIRST CITIZENS BANK INFORMATION First Citizens Bank was founded in January 1898 and is based in Raleigh, North Carolina. CIT Small Business Solutions provides leasingSee this and similar jobs on LinkedIn. Except to the extent required by applicable law or regulation, First Citizens disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Meanwhile, much empty office space lies waiting in limbo. First Citizens is committed to investing in the communities it serves. Call Us Reach out and we'll help. "For CIT clients, First Citizens brings its proven record of safety, security and focus on long-term relationships while maintaining the expertise and agility that they have come to expect," Holding said. | December 30, 2022 News releases on this website are for archival purposes. Business Savings Boost your profits - without breaking a sweat. As the largest family-controlled bank in the United States, First Citizens Bank is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations.. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. The merger is highly synergistic - combining a retail and . CIT Group, Inc. recently merged with First Citizens Bank creating the 17 th largest bank in the United States with over $100B in assets. Please enter a search term. Completion of the merger is a testament to the many associates on our teams who have worked so diligently to get us here.". For more information visit. E*Trade Bank, Arlington, VA with its $79 billion in assets, which was acquired by 4-Star Morgan Stanley Private Bank, NY; The $63 billion asset People's United Bank, Bridgeport, CT merged into 4-Star Manufacturers and Traders TC, Buffalo, NY; and. The board now consists of 11 current First Citizens directors and three former CIT board members Alemany, Michael A. Carpenter and Vice Admiral John R. Ryan, USN (Ret.). The CIT family of companies includes a direct bank, offering a full array of consumer and small business banking products via digital and telephone access. war changed the Corporation of America introduced the idea of running rules of the game and African American citizens "un- prison for profits in the 1980s and since then there has consciously" became the primary targets. First Citizens Bank is positioned to be a one-stop financial services destination for customers across the country, providing a full suite of retail, business, commercial and wealth products and services. Learn all about your transition from OneWest Bank to First Citizens accounts and services. Open Doors Fellowship Program. Most customers using treasury management functions were transitioned to First Citizens Digital Banking Commercial Advantage, a full-service commercial online platform from First Citizens. Your credit relationships will eventually transfer to First Citizens, including loans, lines of credit and leasing relationships. For reprint and licensing requests for this article. The combined company has $110 billion of assets. Application by First Citizens BancShares, Inc. to Acquire Merger A. by CIT Group, Inc. and CIT Bank, N.A. All forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements, including, among others, (1) disruption from the Merger, or recently completed mergers, with customer, supplier or employee relationships, (2) the possibility that the amount of the costs, fees, expenses and charges related to the Merger may be greater than anticipated, including as a result of unexpected or unknown factors, events or liabilities, (3) reputational risk and the reaction of the parties' customers to the Merger, (4) the risk that the cost savings and any revenue synergies from the Merger may not be realized or take longer than anticipated to be realized, (5) general competitive, economic, political and market conditions, and (6)difficulties experienced in the integration of the businesses. "It brings together two companies with deep traditions of service and excellence. Posted 7:08:00 PM. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Ellen R. Alemany, former chairwoman and chief executive officer of CIT, assumes the role of vice chairwoman of First Citizens (along with current First Citizens Vice Chairwoman Hope Holding Bryant) and will serve on the First Citizens Board of Directors. The words "expect," "anticipate," "intend," "plan," "believe," "seek" and "estimate," and similar expressions, are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. RSS icon, click here to subscribe to RSS. Information detailing the conversion and transition to First Citizens was mailed to these customers in October. The board now consists of 11 current First Citizens directors and three former CIT board members Alemany, Michael A. Carpenter and Vice Admiral John R. Ryan, USN (Ret.). Print icon, click here to print the current page. According to the firms, First Citizens stockholders will own approximately 61% and CIT stockholders will own approximately 39% of the combined company. Get important transition details to help you take full advantage of the tools and resources available with your treasury management services. Citizens, CIT (a division of First Citizens Bank), and Webster Bank acted as lead arrangers on the debt financing, with Citizens also acting as financial advisor to Antin. Cision Distribution 888-776-0942 The 23 CEOs on this list run banks and credit unions and are on our Most Powerful Women in Banking, Most Powerful Women to Watch, and Most Powerful Women in Credit Unions. Frank Holding Jr., First Citizens' chairman and CEO, will serve as chairman and CEO of the combined company. RALEIGH, N.C., Jan. 4, 2022 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ: FCNCA) ("First Citizens"), parent company of First-Citizens Bank & Trust Company ("First. 919-716-2137. Ellen R. Alemany, former chairwoman and chief executive officer of CIT, assumes the role of vice chairwoman of First Citizens (along with current First Citizens Vice Chairwoman Hope Holding Bryant) and will serve on the First Citizens Board of Directors. Closing out a week of big bank earnings hits and misses, two mid-sized banks announced they're merging in a dealvalued at about $2.2 billionthat will create the nation's 19th-largest bank by assets upon close. Alexander Candia (Credit: Tumisu from Pixabay) First Citizens BancShares, the parent company of First-Citizens Bank & Trust, has agreed to acquire bank holding company CIT Group in an agreement valued at over $2bn. There are no weak spots that we see, Holding said. ABOUT FIRST CITIZENS 100+ years of history. In addition to its Raleigh, N.C., headquarters, First Citizens operates significant operation centers in New York, Pasadena, Omaha, Phoenix, Jacksonville, Fla., New Jersey and Columbia, S.C., among other locations. Welcome to the First Citizens Bank family! In addition to this conversion ofCITBank branches, First Citizens completed the transition of its OneWest Bank division to its operations and systems in July 2022. Primary Menu. Share by email icon, clcik here to share current page content by email. Operating together as First Citizens, we're now the largest family-controlled bank in the nation. Revenue. (Member FDIC, Equal Housing Lender). We're not just creating a bigger bank we're creating an even better bankone that helps more people in more places and strengthens the communities we serve. "We are proud to help contribute value to their business plans alongside financing.". Operating together as First Citizens, we're now the largest family-controlled bank in the nation. Online access to CIT systems ended on July 15 at 9 pm ET. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. The merger creates a company with more than $100 billion in assets and will operate under the First Citizens Bank name. DEAL STATS. Select if this is your first time logging in to digital banking, Enjoy greater banking convenience from any location and an even larger network of First Citizens branches across 19 states coast to coast, Count on a wider network of specialists in specific industries and financial disciplines who can deliver custom strategies for growing your business or managing your personal assets, Our commercial banking enhancements will bring a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses. First Citizens Bank operates as the holding company for First-Citizens Bank & Trust Company. North Carolina-headquartered First Citizens is now a top 20 U.S. financial institution (based on assets), with more than $100 billion in assets, and the largest family-controlled bank in the nation. "Frank and I have long respected each other's companies and believe this transaction will accelerate our strategic goals by bringing together the expertise of both banks to create scale, strength and value,"Alemany said Friday in a news release. RALEIGH, N.C. and NEW YORK, July 14, 2021 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ: FCNCA) ("First Citizens"), the . However, they may become outdated over time, and should not be relied on as correct after their issue date. We . CIT, CIT Bank and OneWest Bank will initially operate as divisions of First Citizens Bank, and these customers will be able to continue to bank as they normally do. For media inquiries, please email [email protected] or call 202-452-2955. News releases on this website are for archival purposes. A CIT spokeswoman told American Banker to direct all questions to First Citizens, which did not immediately respond to a request for comment Friday. In its earnings release, the bank said it remains confident in its ability to execute on its previously communicated $250 million in total cost savings by the end of 2023.. Our willingness to commit capital, share more risk, and offer greater foresight results in greater resilience, profitability, and peace of mind for our clients. We're grateful to our associates across the combined organization who have worked diligently to achieve this milestone.". Founded in 1898 and headquartered in Raleigh, N.C., First Citizens. For now, they will be served through their current branches, websites, mobile apps, bankers and advisors. The Boston-based bank, which has undergone numerous leadership changes in recent years, hired a new commercial banking head and a new chief credit officer. Known for stability and a long-term approach to banking, First Citizens now operates more than 600 branches in 22 states and a national direct bank while also offering commercial financing, community association banking, middle market banking, equipment and vendor financing, railcar financing, treasury and payments services, and capital markets and asset management. 919-716-2716. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. You are using an outdated browser. Personal Checking For all of your banking needs. The authors argue . Member FDIC and an Equal Housing Lender. Kansas Spine & Specialty Hospital is a regional center for diagnosing and treating disorders of the spine, neck and joints, and is recognized as one of America's 100 best hospitals for spine surgery by Becker's Hospital Review. We understand that so much depends on what you do with your money, and we appreciate this opportunity to prove that your priorities always come first. In addition, Marisa J. Harney is now a member of the First Citizens executive leadership team and assumes the role of chief credit officer. To keep things simple for you, we selected the First Citizens commercial deposit accounts most similar to your CIT treasury management accounts. CIT in January completed its $1 billion purchase of the banking arm of insurance titan Mutual of Omaha a deal that saw CIT expand its presence in homeowner association banking. Member FDIC and an Equal Housing Lender. If you decide to make any adjustments that may suit your company better, your Relationship Manager will be happy to help. "This is a transformational milestone in our 124-year history," said Frank B. First Citizens Bank. 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