CIT Bank
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| Source: Reuters |
CIT Bank N.A. was a United States bank that operated through its Internet bank BankOnCIT.com and through retail branches in Southern California. It was a FDIC insured institution offering savings accounts, certificates of deposit (CDs), small business lending and other services. The company was established in 2009 and operated as a subsidiary of CIT Group Inc. In August 2015, CIT Bank merged with OneWest Bank N.A. First Citizens BancShares acquired CIT Group in January 2022, and CIT Bank, N.A. was merged into First-Citizens Bank & Trust Company on January 4, 2022, ending its existence as a separate charter. The CIT name is retained only as a direct banking brand and division of First Citizens Bank.
As at June 30, 2017, the company had total assets of $41 billion, loans of $27 billion, deposits of $32 billion and about 3,700 employees. In its final call report, at December 31, 2021, the bank held total assets of $47.6 billion and deposits of $40.2 billion.
Former head office address:
888 E. Walnut Street
Pasadena, CA 91101
United States
Phone: 855-462-2652
FDIC Certificate Number: 58978 (inactive since the bank's merger into First-Citizens Bank & Trust Company on January 4, 2022; CIT-branded deposits are now held under FDIC certificate 11063)
Routing Number: 124084834
Website: www.cit.com (www.bankoncit.com now redirects to www.cit.com/cit-bank/)
CIT Bank Savings Account
| Rate | Min to open | Minimum daily balance | |
|---|---|---|---|
| High Yield Savings | 0.95% APY | $100 | $0 |
CIT Bank Term CDs
| Term | APY | Min to open |
|---|---|---|
| 6-Month | 0.72% | $1,000 |
| 1-Year | 1.22% | $1,000 |
| 2-Year | 1.30% | $1,000 |
| 3-Year | 1.30% | $1,000 |
| 4-Year | 1.50% | $1,000 |
| 5-Year | 1.70% | $1,000 |
CIT Bank Jumbo CD rates
| Term | APY | Min to open |
|---|---|---|
| 24 Month CD | 1.35% | $100,000 |
| 36 Month CD | 1.40% | $100,000 |
| 48 Month CD | 1.60% | $100,000 |
| 60 Month CD | 1.75% | $100,000 |
Rates at March 2017. These rates are historical and do not reflect current pricing; CIT-branded deposit products are now offered by First-Citizens Bank & Trust Company.
The CIT deposit business is now carried by First-Citizens Bank & Trust Company of Raleigh, North Carolina, which holds FDIC certificate 11063. At June 30, 2026 that bank had total assets of $236.3 billion, deposits of $174.0 billion and 519 offices.
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