If you’re considering CIT Bank for your savings, checking, or business banking needs, understanding the asset size of CIT Bank is an important factor in evaluating its financial strength, stability, and long-term reliability. In this article, we’ll explore CIT Bank’s total assets, how they compare to other banks, what recent mergers mean for its financial standing, and what asset size really tells you about a bank.
What Is CIT Bank?
CIT Bank, N.A. is a subsidiary of First Citizens BancShares, a major U.S. financial holding company. CIT was originally known for its commercial financing solutions but has evolved into a competitive online bank offering high-yield savings accounts, CDs, business loans, and digital checking accounts.
Following the 2022 merger between CIT Group and First Citizens Bank, CIT Bank has become part of one of the largest family-controlled banks in the United States.
What Is Asset Size and Why Does It Matter?
In banking, “asset size” refers to the total value of assets owned by a bank. These assets include:
- Customer deposits
- Loans and mortgages issued
- Investments and securities
- Physical assets (like real estate)
Why It’s Important:
- A larger asset size generally indicates a stronger, more diversified bank.
- It reflects the bank’s capacity to lend money, invest in technology, and remain stable during economic downturns.
- Asset size plays a role in determining whether a bank is “systemically important” (too big to fail).
CIT Bank Asset Size in 2025
As of early 2025, CIT Bank’s asset size is integrated into First Citizens Bank’s balance sheet due to the completed merger. However, we can look at both individual and combined numbers to understand CIT’s financial footprint.
✅ Estimated CIT Bank Asset Size (Standalone, Pre-Merger):
- Around $50–60 billion in total assets (2021-2022 estimate)
✅ Combined Asset Size (Post-Merger with First Citizens):
- Over $200 billion in assets as of late 2024 and growing in 2025
Source: First Citizens BancShares investor reports, FDIC filings, and annual earnings statements.
How Does That Compare?
Here’s how CIT Bank stacks up against other major U.S. banks (2025 estimates):
| Bank Name | Total Assets (Approx.) |
|---|---|
| JPMorgan Chase | $3.9 Trillion |
| Bank of America | $3.1 Trillion |
| Wells Fargo | $1.9 Trillion |
| First Citizens (incl. CIT) | $200+ Billion |
| Ally Bank | $190 Billion |
| Discover Bank | $130 Billion |
While not one of the “Big Four,” the combined CIT–First Citizens entity places the group comfortably among the top 15 U.S. banks by asset size—demonstrating solid financial strength and lending capability.
How the Merger Boosted CIT Bank’s Financial Standing
In January 2022, CIT Group merged with First Citizens BancShares, resulting in a significant boost in combined assets, deposits, and national footprint. The merger:
- Enhanced CIT Bank’s capital resources
- Expanded its commercial lending capabilities
- Increased access to retail banking customers
- Strengthened technology infrastructure
This strategic move positioned the unified bank as a coast-to-coast financial powerhouse, especially attractive to customers looking for a strong yet digitally focused banking experience.
What Does CIT Bank’s Asset Size Mean for You?
Here’s how CIT Bank’s large and growing asset base benefits its customers:
✅ Financial Stability
A larger bank with billions in assets is better equipped to withstand market volatility and economic challenges.
✅ Better Rates and Products
More assets allow the bank to offer competitive interest rates, innovative digital tools, and low-fee financial products.
✅ Trust and Transparency
High asset volume paired with FDIC insurance means greater peace of mind for your deposits—up to $250,000 per account holder per category.
✅ Business and Commercial Lending Strength
CIT has long been a leader in middle-market lending. The added capital post-merger makes it a strong partner for growing businesses seeking loans or leasing options.
Is Bigger Always Better?
While asset size is a good indicator of financial health, it shouldn’t be the only factor in choosing a bank. Customers should also consider:
- Customer service quality
- Fee transparency
- Ease of online banking
- Availability of physical branches (if needed)
Fortunately, CIT Bank excels in several of these areas, particularly for those looking for high-yield savings, CD accounts, and low-fee checking options.
Final Thoughts: CIT Bank’s Asset Size Reflects Its Strength
As part of the growing First Citizens family, CIT Bank’s asset size has never been larger or more secure. With over $200 billion in combined assets, the bank is now one of the most robust and competitive online banks in the U.S.
Whether you’re saving for the future, managing business finances, or simply looking for a trusted online bank, CIT Bank’s strong asset base makes it a reliable choice in 2025 and beyond.