CIT Bank, National Association

Headquarters

95 South Lake Ave
Pasadena, CA 91103
See all branch locations →

Phone 855 462 2652

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD 0.50% 0.67% →
2-Year CD 0.65% 0.80% →
5-Year CD 0.80% 1.25% →
30-Year Mortgage 4.21% 2.72% →
15-Year Mortgage 3.61% 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

CIT Bank, National Association is an FDIC insured institution located in Pasadena, CA. It was founded in 2009 and has approximately $49.31 billion in assets. Customers can open an account at one of its 72 branches.

FDIC Insured Yes
FDIC Certificate # 58978
Date Established 2009
Assets $ 49.31 billion
Loans $ 30.77 billion
Deposits $ 42.18 billion
Capital $ 5.28 billion
 

For a more detailed analysis of CIT Bank, National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - November 29, 2021

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.25% $10,000 $14,999 Learn More
Money Market
0.30% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.60% $10,000 $14,999 Learn More
18 Mo CD
0.60% $100,000 $199,999 Learn More
24 Mo CD
0.65% $10,000 $14,999 Learn More
24 Mo CD
0.65% $100,000 $199,999 Learn More
36 Mo CD
0.70% $10,000 $14,999 Learn More
36 Mo CD
0.70% $100,000 $199,999 Learn More
48 Mo CD
0.75% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
0.80% $10,000 $14,999 Learn More
60 Mo CD
0.80% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.05% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Online Only Savings Rates of OneWest Bank

Online Savings Rates APY MIN MAX
SAV 100K
0.15% $100,000 - Learn More

Online Only CD Rates of OneWest Bank

Online CD Rates APY MIN MAX
6 Mo CD 1K
0.10% $1,000 - Learn More
12 Mo CD 1K
0.30% $1,000 - Learn More
18 Mo CD 1K
0.40% $1,000 - Learn More
24 Mo CD 1K
0.45% $1,000 - Learn More
36 Mo CD 1K
0.50% $1,000 - Learn More
48 Mo CD 1K
0.55% $1,000 - Learn More
60 Mo CD 1K
0.60% $1,000 - Learn More
Checking Rates APY MIN FEE
Personal Checking 0.00% $1,000 $5.00 Learn MoreShow Less
Premium Checking 0.00% $1,000 $10.00 Learn MoreShow Less

Bank Online Offers

 

Loan Rates - November 29, 2021

Your Current Location: Washington, WA 98109

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

CIT Bank, National Association branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


CIT Bank, National Association Locations



Climate Initiatives

CIT Bank, National Association is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

CIT Bank, National Association Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of CIT Bank, National Association. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
CIT Bank, National Association U.S. Bank Average
10.77% 4.78%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2021, CIT Bank, National Association had $650,826,000 in non-current loans and $7,756,000 in owned real estate. To cover these potential losses it had $5,278,584,000 in equity and $834,673,000 in loans loss reserves. That gives it a Texas Ratio of 10.77%.

Return on Equity
CIT Bank, National Association U.S. Bank Average
19.17% 11.29%

CIT Bank, National Association has a Return on Equity of 19.17% versus the BestCashCow average of 11.29%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
CIT Bank, National Association U.S. Bank Average
10.71% 11.72%

CIT Bank, National Association has a Capitalization of 10.71% versus the BestCashCow average of 11.72. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

CIT Bank, National Association Balance Sheet Analysis

As of June 30, 2021, CIT Bank, National Association had assets of $49,309,230,000, loans of $30,768,770,000, and deposits of $42,183,309,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2021
ASSETS
Cash & Balances due from depository institutions $ 5.04 billion
Interest-bearing balances $ 4.93 billion
Total securities $ 5.07 billion
Federal funds sold and reverse repurchase $ 150.00 million
Net loans and leases $ 30.77 billion
Loan loss allowance $ 834.67 million
Trading account assets $ 301.70 million
Bank premises and fixed assets N.A.
Other real estate owned $ 7.76 million
Goodwill and other intangibles $ 121.84 million
All other assets $ 7.60 billion
     Total Assets $ 44.03 billion
LIABILITIES
Total deposits $ 42.18 billion
      Interest-bearing deposits $ 38.16 billion
      Deposits held in domestic offices $ 42.18 billion
      % insured (estimated) 81.61%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 71.18 million
Other borrowed funds $ 326.35 million
Subordinated debt $ 300.00 million
All other liabilities $ 1,149.81 million
      Total Liabilities $ 44.03 billion
      Shareholders’ Equity $ 5.28 billion

Summary Income Statement

June 30, 2021
INCOME AND EXPENSES
Total Interest Income $ 734.16 million
Total Interest Expense $ 128.78 million
Net interest income $ 605.39 million
Provision for loan and lease losses N.A.
Total non interest income $ 459.89 million
Total non interest expense $ 667.16 million
Pre-tax Net Operating Income $ 549.65 million

Bank Loan Profile?

The top three loan types in CIT Bank, National Association’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

Compared to other banks in California, CIT Bank, National Association has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 17.84
Multifamily
Mortgages
7.20
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.79
Construction and Development Loans 4.88
Commercial Real Estate 19.85
Commercial and Industrial Loans 36.25
Farm Loans 0.13

Customer Reviews for CIT Bank, National Association

There are currently no comments for CIT Bank, National Association. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →