Revman International Secures $87 million from First Citizens Bank

Rhea-AI Summary

First Citizens Bank (NASDAQ: FCNCA), through its Commercial Bank, provided Revman International with expanded financing totaling $87 million. According to First Citizens Bank, Revman increased its existing asset-based lending (ABL) revolver to $55 million and obtained a new $32 million commercial real estate loan.

Revman, a New York-based home furnishings company, plans to use the funding to purchase a new distribution facility in Duncan, South Carolina. The transaction involved multiple First Citizens units, including CIT Commercial Services (to be rebranded as Working Capital Finance) and Middle Market Banking, which also delivered treasury management and online banking solutions.

Positive

• $87 million total financing commitment to Revman International
• Expanded ABL revolver increased to $55 million plus new $32 million real estate loan
• Cross-sell of ABL, real estate financing and treasury solutions to a long-standing client

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

First Citizens' Commercial Bank provides expanded ABL revolver and factoring, commercial real estate loan and treasury management solutions

RALEIGH, N.C., Aug. 12, 2026 /PRNewswire/ -- Revman International ("Revman") today announced it received expanded funding and banking solutions from First Citizens Bank. Revman increased its existing ABL revolver to $55 million and secured a new $32 million commercial real estate loan with First Citizens' Commercial Bank, bringing the total financing to $87 million. 

Founded in 1988 and based in New York, Revman International is a leader in home furnishing, specializing in designing, sourcing and distributing premium bed and bath products. The company offers comforters, sheets, quilts, towels, and decorative accessories which are distributed through major retail stores and online channels across North America and internationally. Revman plans to use the recent financing to purchase a new distribution facility in Duncan, South Carolina.

"First Citizens Bank was able to deliver critical financing that will help us grow our business and provided access to key solutions, including its online banking platform, that are instrumental to managing our operations," said Richard Roman, CEO of Revman International. "We appreciate the expertise and collaboration from the First Citizens team as we continue to expand, scale our business and deepen our partnerships with leading designers and lifestyle brands."

The financing was led by CIT Commercial Services, which will begin operating as Working Capital Finance in Q4 when it officially rebrands to First Citizens Bank. First Citizens Middle Market Banking provided real estate financing and access to additional treasury management solutions.

"Revman International has become a trusted leader in the home fashions industry and has been a long-standing client," said Mike Hudgens, Head of Working Capital Finance at First Citizens Bank. "By working together across multiple teams in our Commercial Bank we provided expanded financing and access to additional banking capabilities and solutions. We are thrilled to expand our relationship with Revman and look forwarding to continuing to support them as they grow and scale their operations."

"We are excited to provide Revman with real estate financing as they expand their presence across key markets," said Brendan Chambers, Head of Middle Market Banking at First Citizens Bank. "First Citizens is committed to delivering specialized financial solutions and expertise that will help our clients at every stage. We're grateful to be part of this latest financing, alongside our Commercial Banking partners, and support Revman as they pursue this next phase of growth."

About Revman International
Revman, headquartered in New York, is a leading provider of high-quality lifestyle bed and bath products. Revman maintains unique licensing arrangements with an impressive portfolio of internationally recognized designer brands including Nautica, Vera Wang, Tommy Bahama, Wrangler, Marimekko and Laura Ashley, among many others. Their products are available through all major levels of retail distribution in the United States as well as retailers in Canada, Mexico, and South America. For more information, please visit www.revman.com.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

Media Contact
Sarah Rutledge
Sarah.rutledge@firstcitizens.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/revman-international-secures-87-million-from-first-citizens-bank-302849061.html

SOURCE First Citizens Bank

FAQ

What did First Citizens Bank (FCNCA) announce about new financing for Revman International on August 12, 2026?

First Citizens Bank announced it provided Revman International with expanded financing totaling $87 million. According to First Citizens Bank, this package includes an increased ABL revolver and a new commercial real estate loan, plus access to treasury management and online banking solutions to support Revman’s operations.

How is the $87 million First Citizens Bank (FCNCA) financing to Revman International structured?

The financing consists of a $55 million expanded asset-based lending revolver and a new $32 million commercial real estate loan. According to First Citizens Bank, these facilities are provided through its Commercial Bank units, including CIT Commercial Services and Middle Market Banking, alongside additional treasury management solutions.

How will Revman International use the $87 million financing provided by First Citizens Bank (FCNCA)?

Revman International plans to use the new financing primarily to purchase a distribution facility in Duncan, South Carolina. According to First Citizens Bank, the funding and associated banking solutions are intended to help Revman expand, scale its business and better manage ongoing operations and growth.

Which First Citizens Bank (FCNCA) business units participated in the Revman International financing?

The transaction was led by CIT Commercial Services, which will rebrand as Working Capital Finance, and First Citizens Middle Market Banking. According to First Citizens Bank, these units provided the ABL revolver, real estate financing and access to additional treasury management and online banking capabilities for Revman International.

What does the Revman International financing reveal about First Citizens Bank’s (FCNCA) commercial banking strategy?

The Revman transaction highlights First Citizens Bank’s focus on multi-product relationships with middle-market clients. According to First Citizens Bank, it combined ABL, real estate lending and treasury solutions across several teams to deepen ties with a long-standing home furnishings client and support its growth initiatives.