CIT said it has named Randall Chesler as president of CIT Bank, its U.S. commercial bank subsidiary. He is currently vice chairman of CIT Bank and previously served as president of Consumer Finance and Small Business Lending at CIT.
CIT announced that it arranged a $60 million senior secured credit facility for Independence Contract Drilling. CIT Corporate Finance served as sole lead arranger and sole lead administrative agent.
CIT said it has arranged and syndicated a senior secured credit facility to support the growth strategy of Dallas-based Medsurant Holdings.
CIT reported Q4 net income of $207 million, $1.03 per share, was up from $36 million or $0.18 per share for the year-ago quarter. Analysts polled by Thomson Reuters expected the company to earn $0.61 per share.