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CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing.November 18
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The veteran executive will receive a $13 million lump-sum payment if she stays with the North Carolina company for two years after the deal closes.October 20
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The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.October 16
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The combined company would be the nation's 19th-largest bank with roughly $110 billion of assets.October 16
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While elevated loan-loss provisions are expected to eat into all banks’ earnings, midsize banks could suffer more than their big-bank rivals because they have fewer revenue drivers. Meanwhile, investors will be watching closely for any signs of dividend cuts stemming from the Federal Reserve’s caps on payouts.July 2
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The comptroller of the currency, who is stepping down after two and a half years on the job, ruffled feathers and won some fans in pushing through CRA reform, cutting costs and trying to reshape the agency’s examiner culture.May 20
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Recognizing the sizable opportunity in batteries, some project finance banks have recently begun supporting battery developments, and others expect to follow soon.March 4
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A new app will allow small-business clients to quickly apply for credit while expanded offerings for homeowners associations will help CIT build up its base of low-cost deposits.January 31
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Can Charlie Scharf fix what ails Wells Fargo? How will Kelly King and Bill Rogers manage the integration of the biggest bank merger since the early 2000s? And will New Jersey Gov. Phil Murphy be able to beat back opposition from the banking industry and make good on his promise to create a state-owned bank? Here are 11 leaders to keep an eye on in 2020.January 12
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The company says it's responding to the feedback of consumers who want online options beyond savings products.November 15