The Bank Slate


First Citizens puts its name on equipment finance unit

First Citizens BancShares in Raleigh, N.C., has rebranded its vendor equipment finance unit.

The $109.3 billion-asset company said in a press release that CIT Business Capital has been renamed First Citizens Bank Equipment Finance. First Citizens obtained the business from its January 2022 purchase of CIT Group.

“This brand transition is about much more than just clarifying our message to the market,” Peter Bristow, president of First Citizens Bank, said in the release. “It also signifies our renewed commitment to excellence in delivering financial solutions and services to equipment vendors and individual customers alike.”

First Citizens said it should take several weeks to fully implement the transition.

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