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First Citizens BancShares Inc (FCNCA) maintains its position as a leading financial institution through strategic initiatives and stable leadership. This dedicated news hub provides investors with essential updates spanning corporate announcements, regulatory filings, and market-moving developments.
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CIT, a division of First Citizens Bank, announced the provision of $50.8 million to Seavest Healthcare Properties for refinancing the Providence Family Wellness Center in Hillsboro, Oregon. This 118,000 square foot facility offers various healthcare services including primary care and urgent care. Leased to Providence Health & Services, a significant player in the U.S. healthcare system, the wellness center serves a growing community. CIT's Healthcare Finance unit focuses on tailored financing solutions for middle market healthcare firms, supporting strategic investments across the sector.
CIT, a division of First Citizens Bank, announced $10 million in financing to Blue Sky Specialty Pharmacy, a Charleston-based company focused on enhancing the prescription process for patients and healthcare providers. This financing was facilitated through a collaboration between the Middle Market Banking team and the Asset-Based Lending division, both part of First Citizens' acquisition of CIT in January. Blue Sky aims to leverage this funding to further innovate its technology and improve service delivery in the specialty pharmacy sector.
CIT, a division of First Citizens Bank, has announced a $100 million financing deal for Stonegate Capital, a middle-market lender. This financing replaces an existing facility and supports Stonegate's capacity to provide credit facilities ranging from $2 million to over $15 million. The partnership aims to aid Stonegate in achieving its business goals and promote its growth, leveraging CIT's expertise in asset-based lending.
CIT, a division of First Citizens Bank, has increased its credit facilities for FOX Rehabilitation by $50 million, bringing total financing to $172.3 million. This funding supports FOX's growth strategy, following their February 2019 acquisition by Blue Wolf Capital Partners. FOX, a leading provider of in-home therapy services, has expanded operations into eight new states, demonstrating significant organic growth. The financing aims to enhance FOX's ability to meet increasing patient demand and service needs.
CIT, part of First Citizens Bank, has increased its financing to Globus Maritime Limited by $18 million, bringing the total financing to $52.25 million. This financing is secured by seven dry-bulk shipping vessels, indicating strong support for Globus Maritime's growth in the shipping industry. Athanasios Feidakis, CEO of Globus Maritime, acknowledged CIT's expertise in this expanded financing deal.
CIT, a division of First Citizens Bank, has arranged $67.5 million in financing for the acquisition and expansion of the Northwest Specialty Hospital in the Greater Spokane area. The facility includes a 32-bed surgical hospital and a 36,000-square-foot medical office building. The acquisition is led by Hammes Partners, known for its high-quality medical properties investment. This financing supports CIT's commitment to healthcare finance, enhancing relationships and enabling further growth in a high-demand market.
CIT, a division of First Citizens Bank, announced its role as lead arranger for $53 million in financing for acquiring six industrial properties in the Baltimore-Washington D.C. area. The properties, totaling nearly 500,000 square feet, feature robust lease agreements with existing tenants, reflecting strong demand for logistical facilities in the region. Aminim Group, the borrower, has a history of significant investments in logistics and real estate. CIT's Real Estate Finance division focuses on senior secured real estate transactions, demonstrating its capabilities in the commercial finance sector.
CIT Commercial Services, a subsidiary of First Citizens Bank, announced the completion of a $75 million factoring facility for a consumer products wholesaler. This facility replaces an existing asset-based lending agreement, providing enhanced liquidity for the client to support operational growth. Tom Fingleton, managing director at CIT, highlighted the tailored financing package developed to meet the client's specific needs, enhancing their working capital flexibility. First Citizens BancShares, Inc. (NASDAQ: FCNCA) is recognized as a top 20 U.S. financial institution with over $100 billion in assets.
CIT Commercial Services has increased a New York-based fashion company's discretionary lending facility to $100 million. This financing will support the acquisition of a company specializing in children's apparel. The fashion company, a longtime client of CIT, focuses on designing and distributing various apparel and accessories. The financial support aims to bolster the client's growth and business operations as they integrate the newly acquired entity.
