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.
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CIT Group Inc. (NYSE: CIT) has arranged $26.5 million in senior secured financing for Queen Esther Shipping Limited, with the loan secured by the container ship Queen Esther. This financing strengthens CIT's long-standing relationship with Lomar Corporation, the ship's operator. CIT's Maritime Finance division provides tailored loan solutions to a diverse global clientele of vessel owners and operators, reflecting the company's commitment to meet growing market demands in the maritime sector.
CIT Group Inc. (NYSE: CIT) will release its third quarter 2021 financial results on October 26, 2021, at 8:00 a.m. ET. The earnings press release will be available via PR Newswire and on the CIT News website. Additionally, an investor presentation and financial supplement will be posted shortly after the release. The company emphasizes that all financial information will be as of the release date and will not be updated thereafter.
First Citizens BancShares and CIT Group have extended their merger agreement to March 1, 2022. The merger has received approval from North Carolina's Commissioner of Banks and the FDIC, with only the Federal Reserve Board's approval pending. Both companies have addressed all inquiries from the Federal Reserve's staff, who have indicated that the application is currently at the Governor level. Upon completion, the merger will create a top 20 bank in the U.S., leveraging First Citizens' retail banking strengths and CIT's commercial lending capabilities.
On Sept 23, 2021, OneWest Bank, a division of CIT, announced the planting of 50,000 trees in California's Sierra Nevada as part of its Green Checking campaign. This initiative, in partnership with the nonprofit One Tree Planted, aims to promote environmental stewardship and help restore areas affected by wildfires. Customers who opened qualifying checking accounts during the campaign contributed to planting 30 trees. This ongoing partnership has resulted in approximately 170,000 trees planted over four years, reaffirming OneWest Bank's commitment to community and environmental goals.
CIT Group Inc. (NYSE: CIT) announced a $45 million senior secured credit facility arranged by CIT Northbridge Credit for MVP Payroll Financing LLC. This funding aims to support MVP's staffing and administrative services amidst increasing demand in the market. CIT Northbridge, a joint venture of CIT Asset Management, specializes in flexible asset-based debt solutions for middle-market companies. This collaboration underscores CIT's commitment to empowering businesses and responding to evolving economic conditions.
CIT Group Inc. (NYSE: CIT) announced it acted as the sole lead arranger for a $41.6 million loan for The Devonshire Apartments acquisition and renovation in Hemet, California. The multifamily complex has 276 units and is being acquired by TIG Devonshire LLC, managed by Tailwind Investment Group and Kairos Investment Management Company. The financing will support extensive property enhancements. CIT's Real Estate Finance division focuses on senior secured real estate transactions, leveraging industry expertise and relationships.
CIT Group Inc. (NYSE: CIT) announced it served as the sole lead arranger for financing the acquisition of Hedwig Place, a 102,774-square-foot medical office building in Houston, Texas. The property targets the healthcare needs of the Greater Houston region and hosts medical practices specializing in surgery, neurology, and ENT. The acquisition involves a joint venture between Virtus Real Estate Capital and Saber Street. CIT's Healthcare Finance unit continues to focus on delivering tailored financial solutions for middle market healthcare firms.
CIT Group Inc. (NYSE: CIT) announced the appointment of Eduard Vernède as managing director in its Aerospace, Defense & Government Services sector. Vernède will focus on enhancing lending activities and client relations in the multibillion-dollar government and defense contractor industry, particularly around the Washington D.C. area. With extensive experience from previous roles at Lloyds Banking Group and Royal Bank of Scotland, his expertise aims to bolster CIT's commitment to this vital sector.
CIT Group (NYSE: CIT) has acted as the sole lead arranger for a loan of approximately $43 million, facilitating the acquisition of a medical office buildings portfolio in Florida and Arizona. The portfolio includes 14 medical office buildings with nearly 150,000 square feet of rentable space, acquired by Cypress West Partners. This financing reflects CIT's commitment to the healthcare sector and its strong relationship with experienced investors. The Healthcare Finance unit provides tailored banking solutions to support growth in middle market healthcare companies.
