M&A Deal Summary

CIT Acquires Mutual of Omaha Bank

On November 19, 2019, CIT acquired financial services company Mutual of Omaha Bank

Acquisition Highlights
  • This is CIT’s 2nd transaction in the Financial Services sector.
  • This is CIT’s 2nd transaction in the United States.
  • This is CIT’s 1st transaction in Nebraska.

M&A Deal Summary
Date 2019-11-19
Target Mutual of Omaha Bank
Sector Financial Services
Buyer(s) CIT
Deal Type Add-on Acquisition

Target

Mutual of Omaha Bank

Omaha, Nebraska, United States
Mutual of Omaha Bank's corporate headquarters in Omaha, Nebraska.
Mutual of Omaha Bank's corporate headquarters in Omaha, Nebraska.
Mutual of Omaha Bank is a provider of various banking products and services to individuals and businesses. Mutual of Omaha Bank is based in Omaha, Nebraska.

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Buyer(S) 1

Buyer

CIT

New York, New York, United States
Category Company
Founded 1908
Sector Financial Services
Employees4,085
Revenue 2.4B USD (2020)
DESCRIPTION

CIT is a financial holding company with approximately $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing. CIT was founded in 1908 and is based in New York city.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Nebraska) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-01 CIT Rail Holdings SAS

Paris, France

CIT Rail Holdings (Europe) SAS is a provider of leasing services in Europe. CIT Rail is based in Paris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-11 CIT Aviation Lending Business

New York, New York, United States

CIT Aviation Lending Business has a committed loan balance of nearly $800 million across more than 50 loans for approximately 60 commercial aircraft. CIT Aviation Lending Business is based in New York.

Sell -
Mergr

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