Welcome to our dedicated page for CIT news (Ticker: CIT), a resource for investors and traders seeking the latest updates and insights on CIT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CIT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CIT's position in the market.
On January 4, 2022, First Citizens BancShares (NASDAQ: FCNCA) announced the completion of its merger with CIT Group Inc. This merger positions First Citizens as a top 20 U.S. financial institution with over $100 billion in assets, enhancing its retail and commercial offerings. The integration aims to leverage the strengths of both organizations, with CIT clients benefiting from First Citizens’ stability and expanded services. Key appointments include Ellen R. Alemany as vice chairwoman, ensuring experienced leadership during this transition.
CIT Group Inc. (NYSE: CIT) announced financing of $35.5 million for four commercial shipping vessels operated by Greenyield Shipping LLC. This move reinforces CIT's commitment to the maritime sector and sustainable shipping practices. Greenyield, managed by Hayfin Capital Management, has invested in over 65 vessels in various segments. CIT’s Maritime Finance division provides tailored solutions for vessel owners, demonstrating the company's expertise and agility in underwriting and arranging financial support.
First Citizens BancShares (NASDAQ: FCNCA) and CIT Group (NYSE: CIT) announced their merger has received regulatory approval from the Federal Reserve. This follows earlier approvals from the FDIC and North Carolina's banking commissioner. The merger is expected to complete in early January 2022, creating a top 20 U.S. bank based on assets. The integration aims to leverage First Citizens' retail banking and CIT's commercial lending strengths, promising enhanced services for customers and potential market expansion.
CIT Group Inc. (NYSE: CIT) announced a $6.3 million refinancing for corporate office properties owned by Diamond Communications LLC. This financing, facilitated by CIT's Middle Market Banking division, supports one of the largest private wireless infrastructure companies in the U.S., which manages over 290,000 properties nationwide. The loans are designated for properties in Springfield, New Jersey, and Delray Beach, Florida. CIT aims to further strengthen its relationship with Diamond Communications through this financial support.
CIT Group Inc. (NYSE: CIT) has successfully completed its fourth annual One Million Meals campaign, donating 1.5 million meals to support Feeding America. This achievement surpassed the initial goal by 50%. Since 2018, CIT has donated 6.5 million meals to fight hunger. The initiative engaged stakeholders through social media and customer participation, including opening new accounts and financing equipment. Feeding America highlighted the significant impact of CIT's contributions amid rising food insecurity affecting 38 million people in the U.S.
CIT Group Inc. (NYSE: CIT) announced the refinancing of a $69 million portfolio of solar facilities owned by Strata Clean Energy LLC. This portfolio includes 21 operating solar assets in North Carolina, generating over 130 megawatts of capacity. The financing aims to support Strata's growth, emphasizing CIT's role in the renewable energy sector. CIT ranks as one of the top lenders for renewable projects and was recognized in 2020 as Renewable Energy Lead Arranger of the Year.
CIT Group Inc. (NYSE: CIT) has secured $210 million in financing for the Brazoria West Solar Project in Brazoria County, Texas. This utility-scale solar project boasts a generation capacity of 260 megawatts and is currently under construction, with commercial operations expected to begin in 2022. Developed by Savion, the project will be managed by S&B US Energy Inc. upon closing. CIT, recognized as a top lender for renewable energy initiatives, will provide cash management and capital markets services as part of the financing package.
CIT Group Inc. (NYSE: CIT) has launched a new amenities feature in its Community Association Banking division. This enhancement allows residents and association members to pay for dues, rent, and additional services like pool keys and access cards through the C-PropertyPay system. The feature streamlines accounting by handling amenity payments separately and ensuring direct deposit into association accounts. CIT's Community Association Banking is a national leader in association banking services, providing a range of digital payment solutions supported by its Treasury and Payment Services.
CIT Group Inc. (NYSE: CIT) has announced that CIT Northbridge Credit arranged a senior secured credit facility to support the acquisition of Baker & Taylor LLC, a provider of books and digital content for libraries. Baker & Taylor was acquired from Follett Corp. by a private investment group led by Amandeep Kochar, the company's new CEO. Kochar cites growth potential as public and academic libraries seek more content post-pandemic. CIT Northbridge Credit emphasizes its role in providing flexible financial solutions to middle-market companies, with financing ranging from $15 million to $150 million.
