CIT

CIT Group Inc. is a financial holding company based in New York City, primarily serving commercial and individual customers through its subsidiary, CIT Bank. Established in 1908, the company operates in several segments, including Commercial Banking and Consumer Banking. The Commercial Banking segment offers a variety of lending and leasing products, such as revolving lines of credit, term loans, and commercial real estate loans, along with ancillary services like cash management and advisory services, primarily targeting small and middle-market businesses. Additionally, CIT provides specialized financing solutions to industries such as healthcare and transportation. The Consumer Banking segment delivers traditional banking services, including checking and savings accounts, residential mortgage loans, and payment solutions. With a focus on middle-market lending and equipment financing, CIT Group has built a strong portfolio totaling over $35 billion in financing and leasing assets. The firm operates approximately 60 branches in southern California and is now a division of First Citizens Bank.