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First Citizens BancShares Inc. reports developments for a U.S. super-regional banking company operating through First Citizens Bank, with business banking, branch banking, commercial lending, treasury and liquidity management, wealth-related services, and railcar leasing. News commonly covers earnings, loan and deposit trends, credit quality, capital returns, dividends on common and preferred stock, and debt or equity capital activity.
Company updates also follow First Citizens Bank’s commercial banking expansion, regional leadership appointments, and specialized lending through Silicon Valley Bank, a division serving technology, life science and healthcare, private equity, and venture capital clients. Recurring customer-finance announcements include warehouse credit, energy finance, and sector-focused banking services.
CIT, a division of First Citizens Bank, has provided $110 million in senior secured credit facilities to Quipt Home Medical Corp. The financing comprises a delayed draw term loan and a revolving credit facility, aimed at refinancing existing debt and facilitating future growth, including acquisitions. Quipt, a leader in home medical equipment focused on in-home monitoring, views this financing as a validation of its business model and a means to pursue its aggressive growth strategy while maintaining a healthy balance sheet.
CIT Northbridge Credit has arranged a $65 million revolving credit facility for Everlane, a retailer focused on sustainable apparel. This financing will support Everlane's growth through new stores and product expansion, enhancing its sustainability mission. Everlane, founded in 2011, operates primarily online and through 10 retail locations across the U.S. The partnership reflects CIT Northbridge's commitment to supporting companies in the apparel sector, particularly with the growing emphasis on environmental impact.
CIT, a division of First Citizens Bank, has arranged debt financing to support SK Capital Partners' investment in VanDeMark Chemical, in collaboration with existing co-owner Comvest Partners. The financing was supported by participation from HSBC, Siemens, and Israel Discount Bank. VanDeMark, based in Lockport, N.Y., specializes in high-end specialty chemical intermediates across diverse markets including life sciences and electronics. CIT Sponsor Finance provides senior financing for middle-market private equity firms, enhancing its role in private equity transactions.
CIT, a division of First Citizens Bank, announced the provision of $50.8 million to Seavest Healthcare Properties for refinancing the Providence Family Wellness Center in Hillsboro, Oregon. This 118,000 square foot facility offers various healthcare services including primary care and urgent care. Leased to Providence Health & Services, a significant player in the U.S. healthcare system, the wellness center serves a growing community. CIT's Healthcare Finance unit focuses on tailored financing solutions for middle market healthcare firms, supporting strategic investments across the sector.
CIT, a division of First Citizens Bank, announced $10 million in financing to Blue Sky Specialty Pharmacy, a Charleston-based company focused on enhancing the prescription process for patients and healthcare providers. This financing was facilitated through a collaboration between the Middle Market Banking team and the Asset-Based Lending division, both part of First Citizens' acquisition of CIT in January. Blue Sky aims to leverage this funding to further innovate its technology and improve service delivery in the specialty pharmacy sector.
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.
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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.