CIT To Acquire OneWest for $3.4 BillionMark Melin
The CIT Group Inc. (NYSE:CIT) announced the purchase OneWest Bank for $3.4 billion in cash and stock, the company announced today.
CIT - OneWest merger will create a bank with $67 billion in assets
The merger of two formerly troubled institutions will create a combined bank of $28 billion in deposits and $67 billion in assets. OneWest currently manages $15 billion in deposits and $23 billion in assets, which includes commercial and home mortgages, the exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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