A New Big Bank Is Born: First Citizens Buys CIT Group To Create A $100 Billion Institution

The following appears on Forbes.com

By Jonathan Ponciano – Closing out a week of big bank earnings hits and misses, two mid-sized banks announced they’re merging in a deal–valued at about $2.2 billion–that will create the nation’s 19th-largest bank by assets upon close.

Raleigh, NC-based First Citizens Bancshares and New York City-based commercial lender CIT Group announced on Friday that they’ve entered into an agreement to merge in a $2.2 billion all-stock deal.


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SOURCE Forbes

Cut Through the Noise: Ensure Clear, Concise, and Effective Communication; GreatAmerica Article