CIT provides banking and related services to commercial and individual customers. The Company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies. The Consumer Banking segment provides mortgage loans and deposits. It accepts deposits, including checking and savings accounts, money market accounts, and certificates of deposit; and offers residential mortgage and small business administration loans, and reverse mortgages, as well as fiduciary services. The NSP segment provides equipment financing, secured lending, and leasing and advisory services to small and middle-market businesses. The Company also offers online banking services.
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HQLivingston, US
Size (employees)4,167 (est)-5%
CIT was founded in 1908 and is headquartered in Livingston, US
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Key People/Management at CIT

George Cashman

George Cashman

President, CIT Rail
Jim Hudak

Jim Hudak

President, CIT Commercial Finance
Stuart Alderoty

Stuart Alderoty

Executive Vice President, General Counsel and Corporate Secretary
John Fawcett

John Fawcett

Executive Vice President and Chief Financial Officer
Matt Galligan

Matt Galligan

President, CIT Real Estate Finance
Ellen R. Alemany

Ellen R. Alemany

Chairwoman and CEO
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CIT Office Locations

CIT has offices in Danville, Pasadena, Paris, New York and in 14 other locations
Livingston, US (HQ)
One CIT Drive
New York, US (HQ)
11 W 42nd St
Atlanta, US
7000 Central Parkway NE, Suite 1200
Boston, US
175 Federal Street, Suite 503
Charlotte, US
201 South Tryon Street, Suite 700
Chicago, US
30 South Wacker Drive, Suite 2900
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CIT Financials and Metrics

CIT Revenue

CIT's revenue was reported to be $3.21 b in FY, 2017 which is a 3.7% increase from the previous period.

Revenue (Q2, 2018)


Net income (Q2, 2018)


Market capitalization (15-Oct-2018)


Closing stock price (15-Oct-2018)


Cash (30-Jun-2018)



CIT's current market capitalization is $5.5 b.
USDFY, 2015FY, 2016FY, 2017



Revenue growth, %


Pre tax profit


Income tax expense

USDFY, 2015FY, 2016FY, 2017





Total Assets


Long-term debt

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018





Total Assets


Long-term debt

USDFY, 2015FY, 2016FY, 2017

Net Income


Depreciation and Amortization


Cash From Operating Activities


Cash From Investing Activities

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income


Depreciation and Amortization


Cash From Operating Activities


Cash From Investing Activities

USDY, 2018


28.3 x


1.4 x


0.2 x

Financial Leverage

7.6 x
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CIT Operating Metrics

CIT's Total Loans was reported to be $29.3b in Q2, 2018.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018

Total Loans

$18.26 b$19.07 b$19.30 b$32.07 b$30.52 b$31 b$30.57 b$29.50 b$29.54 b$29.69 b$29.03 b$28.51 b$29.11 b$29.45 b$29.35 b

Non-accrual Loans

$160 m$183.50 m$198 m$214.70 m$252 m$295 m$283 m$288.50 m$279 m$258.80 m$256.80 m$265 m$221 m$237 m$292 m

Operating Lease (Railcars)

120 k128 k131 k132 k

Operating Lease (Locomotives)

390 390 400
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CIT Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
OneWest Bank N.AJuly 22, 2014$3.40 b
1143986 Ontario Limited
1244771 Ontario Limited
3918041 Canada Inc.
544211 Alberta Ltd.
555565 Alberta Ltd.
555566 Alberta Ltd.
Baliardo Limited
C2 Aviation Capital, LLC
Canadian Income Partners III Limited Partnership
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CIT Revenue Breakdown

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CIT revenue breakdown by business segment: 71.9% from Consumer Banking, 23.7% from Commercial Banking and 4.4% from Other

CIT revenue breakdown by geographic segment: 95.0% from USA and 5.0% from Other

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CIT Online and Social Media Presence

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CIT News and Updates

CIT Serves as Sole Lead Arranger on $50 Million Financing for San Diego Industrial Properties

NEW YORK, Oct. 16, 2018 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance division was the sole lead arranger of a $50 million senior secured loan for the acquisition of industrial properties in San Diego, California, by BKM Capital Partners. The...

CIT Bank Ranked Among Best Financiers for 2018

GOBankingRates and NerdWallet identified the bank as a top contender across multiple categories.

Industry Financier CIT Embarks on Eco-Friendly Initiative

The company, which helps finance footwear firms, will plant 18,000 trees in states impacted by recent wildfires and hurricanes.

Poll: A Majority of Millennials and Gen-Xers Will Make Saving a Priority in 2018

Boomers will still be looking to spend, though.

City Moves for 16 October 2017 - who's moving jobs?

Today's City Moves cover banking, law and the creative sector. Take a look at these movers and shakers: Barclays Barclays has announced that the group chief compliance officer, Michael Roemer, will leave the business to take up a role leading the compliance function for a major US Bank. Michae…

#TBT: Sprint PCS launches in San Francisco; “No grim reaper for the beeper ” … this week in 1997

Editor’s Note: RCR Wireless News goes all in for “Throwback Thursdays,” tapping into our archives to resuscitate the top headlines from the past. Fire up the time machine, put on the sepia-tinted shades, set the date for #TBT and enjoy the memories! Sprint PCS launches in San Francisco – get 1,000 l…
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CIT Company Life and Culture

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