In one fell swoop, Raleigh’s First Citizens Bank & Trust (NASDAQ: FCNCA) could soon become the 19th-biggest bank in the U.S. The closely held bank’s holding company announced Friday it is combining with New York-based CIT Group, the parent of CIT Bank N.A. to create an institution with more than $100 billion in assets. The boards of both banks have already approved the deal, which is expected to close in the first half of 2021. Under the transaction terms, First Citizens shareholders will…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2020/10/16/first-citizens-merging-with-cit-group.html?ana=RSS&s=article_search
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