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News Stories (70 Results) - CIT

CIT, a division of First Citizens Bank, announced the Industrial group within its Equipment Finance business provided more than $5 million toward the acquisition of multiple pieces of heavy equipment by a large construction firm.The 10 items of heavy... Read Story
January 21, 2022, 07:15 AM

CIT, a division of First Citizens Bank, announced its Aerospace, Defense and Government business provided financing for seven leased helicopters managed by Thora Capital.The helicopters, used for emergency medical transport services, are on long-term... Read Story
January 13, 2022, 07:19 AM

First Citizens BancShares, Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc., the parent company of CIT Bank, N.A., jointly announced the two companies have agreed to extend the merger agreement from Oct. 15 to March... Read Story
October 01, 2021, 07:23 AM

CIT Group Inc. announced its Maritime Finance business served as sole lead arranger on a $70 million senior secured credit facility for MPC Container Ships, a leading provider in the feeder container ship market segment.MPC Container Ships operates a... Read Story
August 11, 2021, 07:20 AM

CIT Group Inc. announced its Technology, Media and Telecommunications unit served as joint lead arranger and administrative agent for a $325 million round of financing for Mobilitie Investments III LLC, a telecommunications infrastructure... Read Story
April 24, 2020, 07:25 AM

CIT outlined a $1 million community commitment to support those affected by COVID-19. These resources will provide some immediate relief to New York City and L.A. County, the respective headquarters for the company and its bank subsidiary. In... Read Story
March 31, 2020, 07:10 AM

CIT Group Inc. announced it has hired Calvin Navatto as a Business Development Officer in its Commercial Services business.Navatto will be based in New York City and focus on business development across a wide range of business verticals supported by... Read Story
January 17, 2020, 07:25 AM

Small business executives reveal their top priorities for investment and growth in a new survey conducted by The Harris Poll and sponsored by CIT Group Inc. that explores the intersection of technology and talent in driving business success. More... Read Story
November 19, 2019, 07:00 AM

CIT Group Inc. announced it served as sole lead arranger of a $60 million financing for Carolina Restaurant Group (CRG), operators of 108 Wendy’s restaurant franchises across North Carolina and South Carolina.Based in Charlotte, NC, CRG has been in... Read Story
August 07, 2019, 07:05 AM

CIT Group announced that James R. Hubbard has been named the company's General Counsel and Corporate Secretary, effective March 18. Hubbard will join CIT's Executive Management Committee and report to Chairwoman and Chief Executive Officer Ellen R.... Read Story
March 15, 2019, 07:09 AM

CIT Group Inc. reported fourth-quarter net income available to common shareholders of $82 million, compared to a net loss available to common shareholders of $98 million for the year-ago quarter. Income from continuing operations available to common... Read Story
January 29, 2019, 07:15 AM

CIT has joined the No. 10 Konica Minolta Cadillac DPi-V.R family as the exclusive banking sponsor, it was announced at the annual Roar Before the 24 Test Days at Daytona (Fla.) International Speedway.For more than two decades, CIT has leveraged its... Read Story
January 07, 2019, 06:59 AM

CIT Group Inc. announced it has named Evan Cohen as Managing Director and Group Head for its Maritime Finance business.In his new role, Cohen leads a team of underwriting and business development professionals in building new client relationships and... Read Story
November 13, 2018, 07:20 AM

CIT Group Inc. announced its Healthcare Finance business served as administrative agent and lead arranger for $115 million first lien credit facility and sole lead arranger for a $29 million second lien credit facility on behalf of Bristol Hospice... Read Story
September 14, 2018, 07:10 AM

Ride-hailing company Uber announced Nelson J. Chai has been named Chief Financial Officer.Chai brings more than a decade of experience in senior positions at some of the world’s leading publicly traded financial services and insurance companies. He... Read Story
August 22, 2018, 07:30 AM

CIT Group Inc. announced its Capital Equipment Finance unit, part of CIT's Business Capital division, has added two new business leaders to enhance its direct origination capabilities and support business growth."With these appointments, we continue... Read Story
May 02, 2018, 07:20 AM

CIT Group Inc, a provider of commercial lending and leasing services, named Michael Vallorosi as managing director of CIT's Franchise Finance business and Christopher Wren as a sales vice president of its restaurant franchise finance practice."Mike's... Read Story
July 21, 2017, 07:27 AM

Middle-market executives remain generally optimistic about the strength of their businesses, with at least 80% foreseeing expansion and diversification over the next twelve months. Though a slight majority (55%) believes their local economy is strong... Read Story
October 27, 2016, 07:10 AM

Key Equipment Finance announced it has named Brandon Hannaman vice president, senior account executive. In this role, Hannaman will provide customized equipment financing solutions for mid-market corporations in California, Nevada and Arizona.... Read Story
October 07, 2016, 07:20 AM

CIT Group Inc. announced it has entered into a definitive agreement to sell CIT Commercial Air, its commercial aircraft leasing business, to Avolon Holdings Limited (“Avolon”), the international aircraft leasing company and a wholly-owned subsidiary... Read Story
October 07, 2016, 07:18 AM

The retail industry is going through a form of evolution, maybe even a revolution. E-commerce has changed the way retailers sell, so that the major brick-and-mortar companies are looking at their individual stores, potentially closing what they... Read Story
July 08, 2016, 07:12 AM

The Alta Group announces the expansion of its worldwide consulting and advisory business with the creation of The Alta Group Asia Pacific Region (Alta AP). Alta AP is based in Hong Kong but serves the broader Asia Pacific equipment leasing and asset... Read Story
October 28, 2015, 07:06 AM

The Board of Directors of CIT Group Inc. (NYSE:CIT), announced that Chief Executive Officer John A. Thain will retire effective March 31, 2016, and will continue to serve as Chairman of the Board of Directors, and that CIT Board Member Ellen R.... Read Story
October 22, 2015, 07:15 AM

Aerospace executives are optimistic about the short-term prospects of their industry, but looming interest rate hikes and fuel price volatility are compelling them to act, according to an exclusive online study released by CIT Aerospace, a global... Read Story
September 03, 2015, 07:08 AM

CIT Group announced that CIT Aerospace signed a total of 35 agreements in the second quarter of 2014 for the current and future leases of commercial aircraft. CIT Aerospace delivered 37 aircraft, including new and used aircraft and lease extensions... Read Story
July 30, 2014, 06:17 AM

According to a Bloomberg article, CIT Group agreed to sell its student lending business to Nelnet Inc. for about $1.1 billion. Most of the proceeds will be used to repay debt secured by student loans, leading to a net gain in the second quarter, CIT... Read Story
April 17, 2014, 07:31 AM

CIT announced the appointment of Barbara A. Callahan as Senior Vice President and Head of Investor Relations. She replaces Ken Brause, who has been appointed Chief Financial Officer of the North American Commercial Finance segment. These changes are... Read Story
December 13, 2013, 06:49 AM

The Canadian financing and leasing industry is seeing continued growth with new opportunities on the horizon, according to Blake Macaskill, Managing Director of CIT Canada at CIT Group Inc. This view and others, are presented in “Equipment Financing... Read Story
August 07, 2013, 07:02 AM

CIT Group Inc. reported net income of $184 million for the second quarter of 2013, compared to a net loss of $73 million for the second quarter of 2012. Net income for the six month period ended June 30, 2013 was $346 million, compared to a net loss... Read Story
July 23, 2013, 07:04 AM

CIT Group Inc. announced that CIT Transportation Lending provided financing to Dublin-based Lease Corporation International (LCI) to acquire three AgustaWestland 139 helicopters. The aircraft are in offshore oil and gas configuration and are on lease... Read Story
July 02, 2013, 06:21 AM

CIT Group Inc. announced the company’s success in collecting more than 30 tons of food for the Interfaith Food Pantry, a Morris Plains, NJ-based organization that helps feed local families. The Livingston-based employee food drive is part of CIT’s... Read Story
June 14, 2013, 06:56 AM

Bloomberg reported that John Thain, chief executive officer of CIT Group, discussed the outlook for the company and the U.S. financial industry while speaking on Bloomberg Television's "Market Makers".According to the Bloomberg report, Thain declined... Read Story
June 13, 2013, 07:06 AM

Bloomberg reports that CIT may have become a more attractive takeover target now that the Federal Reserve Bank of New York lifted sanctions against the company that had restricted dividends, buybacks, severance payments and hiring since 2009.  The... Read Story
June 04, 2013, 07:03 AM

With less competition in the market and a high demand for refinancing, the perfect time to be in the maritime finance business is right now, according to Svein Engh, Group Head and Managing Director of CIT Maritime Finance at CIT Group. These issues... Read Story
May 30, 2013, 07:10 AM

CIT Group Inc. announced that it relocated its Mexico office to Mexico City’s district of Santa Fe, as it looks to increase its market share and take advantage of the growth opportunities in the Mexican equipment financing market. The 1,470 square... Read Story
May 24, 2013, 01:00 PM

GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced that they have provided a $15 million second lien equipment term loan to Dana Transport, Inc.  Dana Transport, Inc. is an industry leading chemical and fuel... Read Story
May 23, 2013, 07:05 AM

CIT Group Inc. announced that CIT Corporate Finance provided a $20 million senior secured loan to Mesilla Valley Transportation (MVT), one of the largest locally-owned transportation providers in Western Texas and Southern New Mexico. The financing... Read Story
May 09, 2013, 07:05 AM

CIT Aerospace announced that it delivered nine aircraft and signed 28 lease agreements in the first quarter of 2013. The deliveries include new and used aircraft, as well as lease extensions of its existing fleet, while the lease agreements include... Read Story
April 30, 2013, 06:54 AM

CIT Group announced that Todd Harrington has been named Northeast Regional Sales Manager of CIT Trade Finance. He reports to Marc Heller, Northeast Regional Manager and International Manager of CIT Trade Finance. “Todd is an asset to our team as we... Read Story
April 29, 2013, 07:00 AM

CIT Group reported net income of $163 million, $0.81 per diluted share, for the first quarter of 2013, compared to a net loss of $427 million, ($2.13) per diluted share, for the first quarter of 2012.  The loss in the year-ago quarter was primarily... Read Story
April 23, 2013, 07:17 AM

The Equipment Leasing & Finance Foundation (the Foundation) releases the April 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both... Read Story
April 19, 2013, 07:23 AM

CIT Vendor Finance announced the expansion of its U.S. Healthcare Equipment Financing group with the appointments of Timothy Morris, William Tice, Charles Phillips and Ian Fine as sales managers. They will be responsible for originating and... Read Story
April 18, 2013, 07:20 AM

In an exclusive interview featured on Bloomberg, Element Financial's Chief Executive Officer Steve Hudson said selling repackaged leases to life insurance companies helped his Canadian firm avoid the “financial market heroin” that almost ruined his... Read Story
April 11, 2013, 07:14 AM

Commercial real estate markets on either coast are outperforming assets in the mid-U.S. because they are home to gateway cities that trade with Asia and Europe. The hottest of these markets right now is the New York metropolitan area, as it’s... Read Story
March 28, 2013, 07:05 AM

NewStar Financial announced that it has hired veteran credit risk manager Dan McCready as Chief Credit Officer. Mr. McCready joins NewStar from CIT Group where he was Chief Credit Officer of CIT Corporate Finance. He has nearly 30 years of experience... Read Story
March 26, 2013, 07:25 AM

CIT Group announced that its Livingston-based employees have donated more than 30 tons (60,000 pounds) of food as part of its inaugural company-wide global initiative to fight hunger. The food will be donated to Morris Plains, NJ-based Interfaith... Read Story
March 21, 2013, 07:00 AM

According to Mike Lorusso, Group Head of CIT Energy at CIT Group, due to the attractive growth potential for developing shale and conventional oil & gas resources, the 2013 M&A market should be active. Larusso says to expect modest to high activity... Read Story
March 05, 2013, 07:23 AM

CIT Group Inc. announced that in 2012, CIT Aerospace, a global leader in transportation finance, delivered 56 aircraft to its airline customers around the world. These deliveries include new and used aircraft and lease extensions of the existing... Read Story
February 12, 2013, 07:21 AM

Reuters reported that CIT Group had preliminary talks over the past year and a half to sell itself to banks, including Toronto-Dominion Bank and Wells Fargo & Co, but nothing came of the conversations, according to three people familiar with the... Read Story
February 11, 2013, 07:30 AM

CIT Group today reported net income of $207 million for the fourth quarter of 2012, improved from $36 million for the year-ago quarter. The current period includes net charges of $83 million related to the redemption of student loan asset-backed... Read Story
January 29, 2013, 07:25 AM

CIT Group announced that it has provided an equipment based revolving line of credit to BAUER-Pileco, Inc., a U.S. subsidiary of BAUER Aktiengesellschaft (BAUER AG). Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. ... Read Story
January 17, 2013, 07:25 AM

CIT Group announced that CIT Aerospace has placed an order with Airbus for 10 A350 XWB aircraft. Deliveries are scheduled to begin in 2019. “This order for Airbus A350 XWBs will further expand our portfolio of medium-to-long haul aircraft,” said C.... Read Story
January 04, 2013, 07:25 AM

CIT Group announced that it has agreed to acquire a commercial loan portfolio from Flagstar Bank (FSB), a wholly-owned subsidiary of Flagstar Bancorp, Inc.Under the terms of the agreement, CIT Bank, the U.S. commercial bank subsidiary of CIT, will... Read Story
January 03, 2013, 07:59 AM

CIT Group Inc. announced that CIT Healthcare served as sole lead arranger in a $15.5 million senior secured credit facility to DeVilbiss Healthcare, a medical device company and a portfolio company of Vestar Capital Partners, a leading private equity... Read Story
December 18, 2012, 07:15 AM

CIT Global Vendor Finance announced the appointment of Ruben Muñiz as Director of Business Intelligence. In this role he will oversee business and market data analysis and reporting in support of our growth strategy. He will report to Ron Arrington... Read Story
December 04, 2012, 07:42 AM

CIT Vendor Finance announced the appointment of four management positions in Europe as the firm continues the development of its sales proposition in France, Germany and the UK. Vincenzo Scalzone has been named CIT’s sales leader in France. Vincenzo... Read Story
November 21, 2012, 07:43 AM

CIT Group announced that CIT Capital Equipment Finance continued the build-out of its team focused on middle market equipment financing. The team now includes: Regional Sales Directors Matt Franklin (Southeast), Kevin Ronan (Northeast), Tom... Read Story
November 20, 2012, 07:00 AM

According to the research study “Taking Stock in Tough Times: U.S. Retail Sector Outlook,” produced by CIT Group with Forbes Insights, more than a third (37%) of middle market retail executives believe their holiday sales will increase over 2011... Read Story
November 15, 2012, 07:00 AM

CIT Group reported a net loss for the quarter ended September 30, 2012 of $305 million compared to a net loss of $32.8 million for the third quarter of 2011. The current period includes charges of $471 million related to the redemption of $4.6... Read Story
October 23, 2012, 06:44 AM

The gaming industry isn’t as recession-proof as many expected and experienced wide-scale expansion since the last economic downturn, but this year it has seen significant market activity and continued growth is expected according to Steve Epperly... Read Story
October 10, 2012, 07:09 AM

Slow economic growth and continued high unemployment have limited the recovery in discretionary consumer spending, but steady improvement for the restaurant sector should continue according to Bob Bielinski, Managing Director and Head of the... Read Story
October 03, 2012, 07:52 AM

While economic uncertainty at the national level is a top concern among middle market executives, many still believe that their companies are on solid ground. More than half (53%) say that their companies are stronger today than before the Great... Read Story
September 27, 2012, 08:31 AM

The Great Recession caused a shift in the way middle market companies think about funding. In CIT’s “U.S. Capital Markets Outlook,” Neil Wessan, Managing Director and Group Head of CIT Capital Markets, explains why finding the cheapest cost of funds... Read Story
September 13, 2012, 07:15 AM

CIT Group announced that it provided a senior secured credit facility to Odyssey Investment Partners, a leading middle-market private equity firm, to support its acquisition of L-com, Inc., a global designer and manufacturer of wired and wireless... Read Story
September 05, 2012, 06:32 AM

CIT Group announced that it will redeem the remaining $681 million of its 7% Series C Senior Unsecured Notes (“7% Notes”) maturing in 2016. The Company has eliminated or refinanced nearly $31 billion of high cost debt since restructuring less than... Read Story
August 21, 2012, 07:32 AM

A Bloomberg article reports that less than three years after CIT emerged from bankruptcy, its CEO John Thain is persuading investors that its debt is as creditworthy as an investment-grade firm. The company has reduced its long-term debt by $10.5... Read Story
August 20, 2012, 07:44 AM

Outlook is Positive for Equipment AcquisitionsMore than three-quarters of U.S. middle market executives said their companies will make at least one capital goods acquisition of significant value over the next six to 18 months, according to Vince... Read Story
August 02, 2012, 07:33 AM

CIT Group announced that CIT Rail, the third largest railcar lessor in North America, has placed orders for an additional 3,000 tank cars from multiple manufacturers. Deliveries are scheduled to begin in 2014.  “These new car orders demonstrate CIT... Read Story
July 31, 2012, 07:05 AM

CIT Group Inc. reported a net loss for the quarter ended June 30, 2012 of $71 million. This net loss compares to a net loss of $50 million for the second quarter of 2011 and includes debt refinancing charges of $286 million related to the prepayment... Read Story
July 30, 2012, 07:12 AM

CIT Group Inc. announced that it will redeem an additional $600 million of its 7% Series C Senior Unsecured Notes (7% Notes) maturing in 2016. Following this redemption, approximately $2.4 billion principal amount of the 7% Notes maturing in 2016 and... Read Story
July 23, 2012, 06:33 AM