CIT Names Business Development Officer in Capital Equipment Finance for the West Region

NEW YORK, April 14, 2022 — CIT, a division of First Citizens Bank, today announced that its Capital Equipment Finance business has named Eric Smith as a business development officer serving the West region.

Smith, who is based in Greater Seattle, will be responsible for developing, maintaining, and expanding client and prospect relationships within the region, which includes California, Oregon, Washington, Alaska and Hawaii.

“CIT has long maintained a reputation for excellence in capital equipment financing,” said Kevin Ronan, senior vice president overseeing business development for both the direct and indirect sales channels in Capital Equipment Finance. “I’m confident Eric will help us expand on that legacy by supporting our clients and their continued growth in this important industry sector.”

Smith is a financial sales professional with over 25 years of experience developing equipment-based financial solutions across a wide range of industries. Prior to joining CIT, Smith spent five years in equipment finance at Wells Fargo and 15 years before that at GE Capital. He is a graduate of the University of Oregon with a degree in business and finance.Capital Equipment Finance, part of CIT’s Commercial Finance business, is a leading provider of equipment financing solutions to middle market and large-cap businesses. The unit specializes in providing equipment loans and leases with flexible terms and rates tailored to the equipment needs and credit strength of the borrower.

About CIT

CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company’s commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey.

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