Current Report Filing (8-k)
December 20 2021 - 12:40PM
Edgar (US Regulatory)
CIT GROUP INC false 0001171825 0001171825 2021-12-17 2021-12-17 0001171825 us-gaap:CommonStockMember 2021-12-17 2021-12-17 0001171825 us-gaap:SeriesBPreferredStockMember 2021-12-17 2021-12-17
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 20, 2021 (December 17, 2021)
CIT GROUP INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-31369
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65-1051192
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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11 W. 42nd Street
New York, New York 10036
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(Address of registrant’s principal executive office)
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Registrant’s telephone number, including area code: (212) 461-5200
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Common Stock, par value $0.01 per share
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CIT
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New York Stock Exchange
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5.625% Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.01 per share
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CITPRB
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
CIT Group Inc. (the “Company”) and First Citizens BancShares, Inc. (“First Citizens”) issued a joint press release on December 17, 2021, announcing that First Citizens has received the final required regulatory approval from the Board of Governors of the Federal Reserve System 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 is incorporated herein by reference.
First Citizens has already received approvals from the Federal Deposit Insurance Corporation and the Office of the North Carolina Commissioner of Banks.
Completion of the merger remains subject to a 15-day waiting period and the satisfaction or waiver of other customary closing conditions. Assuming such conditions are satisfied, the merger closing is expected to occur as soon as practicable in early January 2022.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
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.
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CIT GROUP INC.
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(Registrant)
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By:
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/s/ John Fawcett
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John Fawcett
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Executive Vice President & Chief Financial Officer
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Dated: December 20, 2021
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