First Citizens Bank Introduces New Name for Equipment Finance Business

Change Enhances Clarity, Signifies Renewed Commitment to Service Excellence RALEIGH, N.C., Feb. 23, 2023 /PRNewswire/ — First-Citizens Bank & Trust Company (First Citizens Bank) today announced that its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects. Formerly known as CIT Business Capital, the vendor finance business became a part of First Citizens Bank in January 2022 as a result of the bank’s merger with CIT Group Inc. It specializes in supporting small and mid-size businesses by providing equipment financing solutions via technology-enabled platforms and market leading structuring expertise. "This brand transition is about much more than just clarifying our message to the market," said First Citizens Bank President Peter Bristow, who oversees the commercial banking segment. "It also signifies our renewed commitment to excellence in delivering financial solutions and services to equipment vendors and individual customers alike." "Our advanced technology platforms, industry-leading expertise and dedicated team are unmatched when it comes to providing equipment financing with speed and certainty of execution," Bristow added. The equipment finance business is consistently ranked among the Top 10 by Monitor magazine, a leading industry trade publication. […]

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