CIT Bank, National Association

Our records indicate that this bank has been acquired by First-Citizens Bank & Trust Company.


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

Phone 855 462 2652

Notable Rates APY Vs.Others
Savings N.A. 4.01% →
1-Year CD N.A. 4.50% →
2-Year CD N.A. 4.73% →
5-Year CD N.A. 4.75% →
30-Year Mortgage 7.71% 4.91% →
15-Year Mortgage 7.11% 4.39% →
HELOC N.A. 1.93% →

2022 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 $47.56 billion in assets. Customers can open an account at one of its 72 branches.

FDIC Insured Yes
FDIC Certificate # 58978
Date Established 2009
Assets $ 48.72 billion
Loans $ 29.73 billion
Deposits $ 40.21 billion
Capital $ 5.37 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 - December 1, 2022

Your Current Location: Virginia, VA 20146


Loan Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

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.


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.

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CIT Bank, National Association Locations

Climate Initiatives

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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 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
7.95% 4.06%

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, 2022, CIT Bank, National Association had $476,101,000 in non-current loans and $7,242,000 in owned real estate. To cover these potential losses it had $5,373,945,000 in equity and $702,673,000 in loans loss reserves. That gives it a Texas Ratio of 7.95%.

Return on Equity
CIT Bank, National Association U.S. Bank Average
17.43% 9.98%

CIT Bank, National Association has a Return on Equity of 17.43% versus the BestCashCow average of 9.98%. 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.

CIT Bank, National Association U.S. Bank Average
11.03% 10.23%

CIT Bank, National Association has a Capitalization of 11.03% versus the BestCashCow average of 10.23. 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 December 31, 2021, CIT Bank, National Association had assets of $47,562,923,000, loans of $29,729,745,000, and deposits of $40,214,687,000. 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, 2022
Cash & Balances due from depository institutions $ 2.80 billion
Interest-bearing balances $ 2.69 billion
Total securities $ 6.58 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 29.73 billion
Loan loss allowance $ 702.67 million
Trading account assets $ 220.48 million
Bank premises and fixed assets N.A.
Other real estate owned $ 7.24 million
Goodwill and other intangibles $ 105.13 million
All other assets $ 7.89 billion
     Total Assets $ 42.19 billion
Total deposits $ 40.21 billion
      Interest-bearing deposits $ 36.34 billion
      Deposits held in domestic offices $ 40.21 billion
      % insured (estimated) 80.07%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 77.44 million
Other borrowed funds $ 329.70 million
Subordinated debt $ 300.00 million
All other liabilities $ 1,267.15 million
      Total Liabilities $ 42.19 billion
      Shareholders’ Equity $ 6.53 billion

Summary Income Statement

June 30, 2022
Total Interest Income $ 1,427.57 million
Total Interest Expense $ 232.46 million
Net interest income $ 1,195.11 million
Provision for loan and lease losses N.A.
Total non interest income $ 918.02 million
Total non interest expense $ 1,315.21 million
Pre-tax Net Operating Income $ 1,081.09 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 17.60
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.81
Construction and Development Loans 4.88
Commercial Real Estate 18.55
Commercial and Industrial Loans 36.84
Farm Loans 0.16

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