First Citizens BancShares Inc - FCNCA STOCK NEWS

CIT, a division of First Citizens Bank, has announced a $30 million loan to the Saunders County Education Agency for the construction and renovation of school facilities in Wahoo, Nebraska. This financing will support a new two-story school addition and upgrades to the existing middle and high school, as the area experiences growth. Superintendent Brandon Lavaley emphasized the need for expanded facilities, while CIT's Brendan Chambers highlighted their commitment to enhancing educational opportunities.

First Citizens BancShares announced an investor conference call scheduled for March 24, 2022, at 9 a.m. Eastern Time. This call will focus on financial insights from their recent merger and strategic objectives moving forward. Materials for the call will be accessible on their website before the U.S. markets open on the same day. The merger, completed in January 2022 with CIT Group, positions First Citizens among the top 20 U.S. financial institutions, managing over $100 billion in assets.

CIT, a division of First Citizens Bank, announced a reorganization of its Commercial Services factoring business to enhance client service and growth potential. Effective immediately, Marc Heller will report to Peter Bristow, and Michael Hudgens has been appointed managing director and group head. This restructuring aims to improve agility in client support in today's fast-paced market, leveraging CIT's industry expertise. First Citizens Bank aims to create value through a broader product range and improved commercial lending capabilities.

CIT, a division of First Citizens Bank, acted as the sole lead arranger for a $39.6 million loan to Clarion Partners for the Southside Logistics Center in Baltimore, Maryland. The facility will consist of two Class-A industrial buildings, totaling over 483,000 square feet, with completion expected in May and August 2022. This strategic financing supports the growing demand for logistics in the region due to the Port of Baltimore's performance.

First Citizens Bank, based in Raleigh, N.C., received 22 Greenwich Excellence and Brand Awards for 2021, solidifying its status as a leader in small business and middle market banking. The awards include 17 wins in Small Business Banking (13 national, 4 regional) and 5 in Middle Market Banking (2 national, 3 regional). This recognition reflects the bank's commitment to customer satisfaction and strong relationships, as highlighted by executives Patrick Noble and Brendan Chambers. The awards were determined through extensive customer interviews across the country.

CIT, part of First Citizens Bank, announced financing of $51 million for the acquisition of Oceana Apartments in Avondale, Arizona. The property consists of 240 units and was purchased by 29th Street Capital, a well-regarded multifamily investment firm based in Chicago. Senior Vice President Dusty Eddy praised CIT's expertise in arranging the financing. CIT's Real Estate Finance business provides tailored financing solutions, contributing to the bank's mission of supporting middle-market and small businesses across the U.S.

CIT, a division of First Citizens Bank, has provided over $44 million in financing for medical office buildings across Florida, Washington, and Arizona. The loans support a joint venture led by Montecito Medical Real Estate, with acquisitions in locations including Jacksonville and Fleming Island in Florida, Scottsdale in Arizona, and Spokane in Washington. This initiative reflects strong market demand for top-tier medical office properties and reinforces CIT's role as a reliable lender in the healthcare sector.

CIT, a division of First Citizens Bank, announced financing of $71.4 million for Arches Solar LLC, aiding a portfolio of solar projects in Howard County, Maryland. This financing supports the municipality's commitment to providing clean energy, with projects under the largest purchase power agreement in the state. CleanCapital, the parent company, has invested over $800 million in more than 200 projects since its inception in 2015. CIT continues to be a top lender in renewable energy financing, as recognized by Inframation.