First Citizens BancShares Inc - FCNCA STOCK NEWS

CIT, part of First Citizens Bank, announced financing exceeding $5 million for a construction firm to acquire heavy equipment, including articulated dump trucks and excavators. This funding underscores strong demand for infrastructure construction in the Southwest and Midwest. Harold Ray, director of CIT's Equipment Finance-Industrial business, highlighted the importance of speed in execution and anticipates more financing opportunities in 2022. CIT's Equipment Finance focuses on providing solutions to various commercial clients, enhancing their operational capabilities.

CIT, a division of First Citizens Bank, has arranged $50.5 million in financing for the construction of Amp Energy's NY3 community solar project in New York State. This portfolio includes six solar projects with a total generation capacity of 34 megawatts, set to begin operations in Q1 2022. The energy produced is fully contracted for sale to local consumers. CIT's Power and Energy division remains a key player in renewable energy financing, having previously supported Amp with the AMP NY2 project.

CIT, part of First Citizens Bank, has announced financing for seven leased helicopters managed by Thora Capital, facilitating emergency medical transport services through Apollo Medflight. These helicopters are crucial for transporting patients to medical facilities across six states. Thora Capital, recognized for its expertise in helicopter assets, collaborated with CIT to form a tailored financing package. CIT's Aerospace, Defense & Government Services group is dedicated to providing integrated financial solutions in specialized markets. The parent company, First Citizens BancShares (NASDAQ: FCNCA), boasts over $100 billion in assets.

First Citizens BancShares, Inc. will report its financial results for the fourth quarter and full year ended December 31, 2021, on January 26, 2022, before market open. A conference call discussing these results is scheduled for 9 a.m. Eastern time on the same day. The call can be accessed domestically at 833-654-8257 and internationally at 602-585-9869, using conference ID 1049136. Following the call, a replay will be available until February 10, 2022. This announcement comes after the recent merger with CIT Group, positioning First Citizens among the top 20 U.S. financial institutions, with over $100 billion in assets.

According to a recent CIT Bank survey by The Harris Poll, 70% of Americans are saving the same or more compared to last year. However, nearly half of those making resolutions plan to make purchases, indicating potential spending temptations. Health (65%), personal life (59%), and finances (54%) are prioritized among resolutions, with 77% focusing on saving more. Furthermore, 90% of those who made resolutions last year reported tracking their goals. Notably, 88% of savers feel their increased savings provide greater financial flexibility.

First Citizens BancShares (NASDAQ: FCNCA) has successfully completed its merger with CIT Group, resulting in a financial institution with over $100 billion in assets and a top 20 ranking in the U.S. This merger combines the robust retail banking services of First Citizens with CIT's commercial lending and digital banking expertise. The integration will initially maintain existing operations under the CIT brand while transitioning to First Citizens systems. A community benefits plan aims to reinvest $16 billion in low- and moderate-income communities by 2025.

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.

First Citizens BancShares (NASDAQ: FCNCA) and CIT Group (NYSE: CIT) have received the necessary regulatory approvals to merge, following clearance from the Federal Reserve Board, FDIC, and the North Carolina Commissioner of Banks. The merger is expected to close in early January 2022, creating a top 20 bank in the U.S. The combined entity aims to leverage the strengths of both banks for enhanced service offerings. Customers will experience no immediate changes to their accounts, and future changes will be communicated in advance.

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.