*No significant likelihood of another bank deal- CEO John Thain. July 22- U.S. small-business lender CIT Group Inc said it would buy California bank OneWest Bank NA for $3.4 billion in cash and stock, a deal that will give CIT a more reliable source of funding.
July 22- U.S. small-business lender CIT Group Inc said it would buy regional lender OneWest Bank NA for $3.4 billion in cash and stock, its second deal in two months to boost its middle-market lending operations.
*Q1 earnings $0.55/ share vs est of $0.87. April 29- Small-business lender CIT Group Inc reported a lower-than-expected quarterly profit due to a drop in fee income and weaker margins resulting from the sale of non-strategic businesses, sending its shares down as much as 8 percent.
April 29- CIT Group Inc's quarterly profit fell by a third as the small-business lender earned lower interest on loans. The lender's net income fell to $109.1 million, or 55 cents per share, in the first quarter ended March 31, from $162.6 million, or 81 cents per share, a year earlier.
John Thain, CIT Group chairman and CEO, reacts to President Obama's address. "A default would cause a tremendous amount of disruption in the market place" he says.
John Thain, chairman & CEO of the CIT Group, reacts to the Cyprus bailout, whether CIT is up for sale and on his company's successful food drive.