![]() The integration of Mutual of Omaha Bank into CIT creates great opportunity to leverage the strengths of both institutions," said Mutual of Omaha Chairman and CEO James Blackledge. "Mutual of Omaha Bank has a talented and dedicated team that built a successful, vibrant institution. This is a unique opportunity to accelerate our strategic plan through the addition of a market-leading HOA deposit franchise, a broader set of product and technology solutions and an expanded business footprint that complements CIT's existing franchise." This transaction squarely aligns to those goals by immediately enhancing our deposit and commercial banking capabilities and improving our profitability. Alemany said, "Following our multi-year strategic transformation, we entered the next phase of our plan focused on thoughtful growth and value creation. ![]() On a pro forma basis, CIT will have approximately $42.1 billion of total deposits and $58.9 billion of total assets.ĬIT Chairwoman and Chief Executive Officer Ellen R. ![]() In addition, $8.3 billion of total assets, including $3.9 billion of middle-market commercial loans, are part of the transaction, which adds to CIT's growing franchise. ![]() The transaction includes $6.8 billion in deposits, $4.5 billion of which are HOA deposits from more than 31,000 community associations nationwide, and $2.3 billion of which are from commercial and consumer financial centers in key markets. ![]()
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