The Online Investor
Credit Services & Lending M&A image Credit Services & Lending M&A » By The Online Investor Staff, updated Sat., Apr. 17, 7:23 AM Recent mergers and acquisitions in the Credit Services & Lending M&A category.

Slide #78. CIT Group Inc. Commercial Loan Portfolio from Flagstar Bank

Acquirer: CIT Group Inc. (CIT)
Acquiree: Commercial Loan Portfolio from Flagstar Bank (FBC)
Details: CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, today announced that it has agreed to acquire a commercial loan portfolio from Flagstar Bank (FSB), a wholly-owned subsidiary of Flagstar Bancorp, Inc. (NYSE:FBC). Under the terms of the agreement, CIT Bank, the U.S. commercial bank subsidiary of CIT, will acquire approximately $1.3 billion in commercial loan commitments, of which approximately $800 million is currently outstanding. The assets represent a substantial portion of FSB's Northeast-based commercial loan portfolio, which consists primarily of asset-based, commercial real estate, and equipment finance loans and leases. The purchase is expected to be substantially completed during the first quarter of 2013.

CIT Group is a bank holding company and a financial holding company. Through its subsidiaries, Co. provides financing, leasing and advisory services principally to middle-market companies and small businesses in a range of industries, primarily in North America. Co. also provides banking and related services to commercial and individual customers through its banking subsidiary, CIT Bank, N.A and its online bank, Visit cit.com. Co. has two operating segments: Commercial Banking, which include Commercial Finance, Business Capital, Rail, and Real Estate Finance; and Consumer Banking, which includes Retail Banking, Consumer Lending, and Small Business Administration Lending.

CIT SEC Filing Email Alerts Service

Preferred: CIT.PRB



Open the CIT Page at The Online Investor »

CIT Group is a bank holding company and a financial holding company. Through its subsidiaries, Co. provides financing, leasing and advisory services principally to middle-market companies and small businesses in a range of industries, primarily in North America. Co. also provides banking and related services to commercial and individual customers through its banking subsidiary, CIT Bank, N.A and its online bank, Visit cit.com. Co. has two operating segments: Commercial Banking, which include Commercial Finance, Business Capital, Rail, and Real Estate Finance; and Consumer Banking, which includes Retail Banking, Consumer Lending, and Small Business Administration Lending.

CIT SEC Filing Email Alerts Service

Preferred: CIT.PRB



Open the FBC Page at The Online Investor »

Company Name: 
CIT Group Inc (New)
Stock buyback: 
CIT buyback
Website: 
www.cit.com
Sector: 
Banking & Savings
Number of ETFs Holding CIT: 
52
Total Market Value Held by ETFs: 
$1.07B
Total Market Capitalization: 
$5.08B
% of Market Cap. Held by ETFs: 
21.11%
Company Name: 
Flagstar Bancorp, Inc.
Stock buyback: 
FBC buyback
Website: 
www.flagstar.com
Sector: 
Credit Services & Lending
Number of ETFs Holding FBC: 
51
Total Market Value Held by ETFs: 
$533.38M
Total Market Capitalization: 
$2.34B
% of Market Cap. Held by ETFs: 
22.82%
 

Quotes delayed 20 minutes


Credit Services & Lending M&A - Slide 78 of 100 Page | www.TheOnlineInvestor.com

Copyright © 1998 - 2021, All Rights Reserved
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.