SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 8.01 Other Events.
CIT Group Inc. (the “Company”) and First Citizens BancShares, Inc. (“First Citizens”) issued a joint press release on July 14, 2021, announcing that First Citizens has received regulatory approval from the Federal Deposit Insurance Corporation to complete its previously announced merger with the Company pursuant to the Agreement and Plan of Merger, dated October 15, 2020, by and among First Citizens, First-Citizens Bank & Trust Company, a North Carolina chartered commercial bank and direct, wholly owned subsidiary of First Citizens (“FCB”), FC Merger Subsidiary IX, Inc., a direct, wholly owned subsidiary of FCB, and the Company, the parent company of CIT Bank, N.A., a national banking association. A copy of the joint press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
First Citizens has already received approval from the Office of the North Carolina Commissioner of Banks.
Completion of the merger remains subject to approval from the Board of Governors of the Federal Reserve System and closing is expected in the third quarter, subject to such approval and the satisfaction or waiver of other customary closing conditions.
Item 9.01 Financial Statements and Exhibits.
|Exhibit No.|| |
|99.1||Joint Press Release of the Company and First Citizens, dated July 14, 2021.|
|104||The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|CIT GROUP INC.|
|By:||/s/ John Fawcett|
|Executive Vice President & Chief Financial Officer|
Dated: July 14, 2021