CIT Northbridge Credit Provides Working Capital Financing to Winona Foods

RALEIGH, N.C., Dec. 20, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, has provided working capital financing via a revolving line of credit to Winona Foods in Green Bay, Wisconsin.

Winona Foods is a fully integrated processor and distributor of cheese and cheese products for food service, industrial ingredients, and retail sectors. Their sophisticated manufacturing capabilities allow Winona Foods to produce a variety of cheese products along with other portion-controlled products such as dips, sauces, and dressings.

"We appreciated CIT Northbridge's agility and expertise in delivering a financial package that supports our efforts to make meaningful strides toward our strategic objectives, especially as we head into a new year," said Luke Kelly, Chief Financial Officer of Winona Foods.

"We were delighted to support Winona Foods with this financing to help grow their business," said Neal Legan, who leads the team that advises CIT Northbridge.

CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, 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 including a network of more than 500 branches and offices in 30 states; 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 $200 billion in assets. Discover more at firstcitizens.com.

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SOURCE First Citizens Bank