Agencies give NC, NY banks more time on merger (and comments)

A proposed merger between banking companies in North Carolina and New York has had its comment period on the action reopened, and extended, by federal banking regulators.

The Federal Deposit Insurance Corp. (FDIC) Friday said it was joining the Federal Reserve in extending the comment period to Feb. 22 for the proposed merger of First-Citizens Bank and Trust Company (of Raleigh, N.C.) with CIT Group, Inc., and its subsidiary, CIT Bank, National Association (of New York and Pasadena, Calif., respectively).

The merger application was filed with the FDIC on Dec. 8 of last year, the FDIC said. A related application, under the Bank Holding Company Act, was filed with the Federal Reserve.

FDIC Reopens and Extends the Public Comment Period on the Proposed Mergers of First-Citizens Bank & Trust Company with CIT Group, Inc., and its Subsidiary, CIT Bank, National Association