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First Citizens BancShares Inc (FCNCA) maintains its position as a leading financial institution through strategic initiatives and stable leadership. This dedicated news hub provides investors with essential updates spanning corporate announcements, regulatory filings, and market-moving developments.
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CIT, a division of First Citizens Bank, has announced a $100 million financing deal for Stonegate Capital, a middle-market lender. This financing replaces an existing facility and supports Stonegate's capacity to provide credit facilities ranging from $2 million to over $15 million. The partnership aims to aid Stonegate in achieving its business goals and promote its growth, leveraging CIT's expertise in asset-based lending.
CIT, a division of First Citizens Bank, has increased its credit facilities for FOX Rehabilitation by $50 million, bringing total financing to $172.3 million. This funding supports FOX's growth strategy, following their February 2019 acquisition by Blue Wolf Capital Partners. FOX, a leading provider of in-home therapy services, has expanded operations into eight new states, demonstrating significant organic growth. The financing aims to enhance FOX's ability to meet increasing patient demand and service needs.
CIT, part of First Citizens Bank, has increased its financing to Globus Maritime Limited by $18 million, bringing the total financing to $52.25 million. This financing is secured by seven dry-bulk shipping vessels, indicating strong support for Globus Maritime's growth in the shipping industry. Athanasios Feidakis, CEO of Globus Maritime, acknowledged CIT's expertise in this expanded financing deal.
CIT, a division of First Citizens Bank, has arranged $67.5 million in financing for the acquisition and expansion of the Northwest Specialty Hospital in the Greater Spokane area. The facility includes a 32-bed surgical hospital and a 36,000-square-foot medical office building. The acquisition is led by Hammes Partners, known for its high-quality medical properties investment. This financing supports CIT's commitment to healthcare finance, enhancing relationships and enabling further growth in a high-demand market.
CIT, a division of First Citizens Bank, announced its role as lead arranger for $53 million in financing for acquiring six industrial properties in the Baltimore-Washington D.C. area. The properties, totaling nearly 500,000 square feet, feature robust lease agreements with existing tenants, reflecting strong demand for logistical facilities in the region. Aminim Group, the borrower, has a history of significant investments in logistics and real estate. CIT's Real Estate Finance division focuses on senior secured real estate transactions, demonstrating its capabilities in the commercial finance sector.
CIT Commercial Services, a subsidiary of First Citizens Bank, announced the completion of a $75 million factoring facility for a consumer products wholesaler. This facility replaces an existing asset-based lending agreement, providing enhanced liquidity for the client to support operational growth. Tom Fingleton, managing director at CIT, highlighted the tailored financing package developed to meet the client's specific needs, enhancing their working capital flexibility. First Citizens BancShares, Inc. (NASDAQ: FCNCA) is recognized as a top 20 U.S. financial institution with over $100 billion in assets.
CIT Commercial Services has increased a New York-based fashion company's discretionary lending facility to $100 million. This financing will support the acquisition of a company specializing in children's apparel. The fashion company, a longtime client of CIT, focuses on designing and distributing various apparel and accessories. The financial support aims to bolster the client's growth and business operations as they integrate the newly acquired entity.
CIT, a division of First Citizens Bank, has announced it served as the sole lead arranger for financing Swell Energy's development of over 100 behind-the-meter commercial energy storage projects in California. These projects benefit from California's Self-Generation Incentive Program aimed at promoting energy storage technology in underserved communities. CIT's Power and Energy business is recognized for its leadership in financing battery storage systems and renewable projects, contributing to the energy transition and offering significant growth opportunities in the commercial sector.
CIT, a division of First Citizens Bank, has provided financing for TruAmerica Multifamily's acquisition of The Park at Napoli Apartments in Winter Park, Florida. The property includes 238 units and is strategically located near major highways, enhancing its access to the Orlando metro area. TruAmerica’s director emphasized the property's value due to Orlando's rapid growth. CIT's Real Estate Finance team, known for its expertise in multifamily investments, expressed commitment to supporting TruAmerica's portfolio expansion.
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