*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.
"Companies are really digging in on identifying what areas it makes sense to focus their benefits programs," said Robert Newbury, director at pay consulting firm Towers Watson.
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.