First Citizens Bank today announced the expansion of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across Southern California and the Southwest region.
The expansion follows the official launch of First Citizens Middle Market Banking in the Southeastern U.S. in September and the First Citizens Bank merger in January with CIT Group, a leading commercial lender with long experience in serving the middle market.
First Citizens Middle Market Banking is now serving clients across the Southwestern and Southeastern regions with offerings including senior secured loans, cash-flow loans, capital markets services, foreign exchange capabilities, asset-based lending and treasury and payment services. The middle market target clientele covers companies with $75 million to $750 million in annual sales.
“First Citizens is proud to expand Middle Market Banking to provide best-in-class relationship banking support to even more business owners, entrepreneurs and family offices in the middle market segment,” said Brendan Chambers, an experienced banking executive who leads the Middle Market Banking team.
“We’re leveraging our talented and knowledgeable team, as well as capabilities acquired in our merger with CIT, to deliver exceptional service to our clients throughout their entire business life-cycle,” Chambers said. “Our relationship banking model sets us apart in this space, and we’re excited to help middle market businesses in the Southwest grow and prosper.”
First Citizens Middle Market Banking delivers a range of financial solutions to midsize clients through a relationship banking model. The business offers deposit solutions, loans, treasury services and other banking products to manufacturers, distributors and a wide variety of service industries.