CIT Group, Inc. (CIT) Posts Q2 EPS of $1.29
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CIT Group (CIT) Approves $500M Buyback Plan
July 22, 2014 6:33 AM EDTCIT Group (NYSE: CIT) announced that its Board of Directors approved the repurchase of up to $500 million of common stock through June 30, 2015. As of June 30, 2014, the Company has repurchased $745 million of common stock since May 30, 2013. The Company also has approximately $55 million remaining under its previously... More
CIT Group (CIT) to Acquire OneWest Bank in $3.4B Cash, Stock Deal
July 22, 2014 6:32 AM EDTCIT Group (NYSE: CIT) has entered into a definitive agreement and plan of merger with IMB Holdco LLC, the parent company of OneWest Bank N.A. (OneWest Bank), for $3.4 billion in cash and stock.
OneWest Bank is a privately owned regional bank formed in 2009 that operates 73 retail branches in Southern California, with approximately $23 billion in assets, including commercial and residential mortgage loans, and $15 billion in deposits. Following the close of the transaction, CIT Bank, CITs banking subsidiary, will merge with OneWest Bank under the CIT Bank name and CIT will have assets of $67 billion... More
