First Citizens Bank Consolidates Working Capital Units Under New Group — First Citizens BancShares, Inc. (First Citizens Bank)

Event summary

First Citizens Bank is merging its factoring, asset-based lending, supply chain finance, international factoring, and receivables purchasing businesses into a single group called Working Capital Finance.
The new group will rebrand from CIT Commercial Services in Q4 2026.
Working Capital Finance offers solutions like factoring, asset-based lending, supply chain finance, international factoring, and receivables purchasing to middle-market consumer companies.
First Citizens Bank has over $225 billion in assets as of 2026.

The big picture

First Citizens Bank's consolidation of working capital solutions under a single group reflects broader industry trends toward streamlined financial services for middle-market companies. The move aligns with the bank's strategy to strengthen its commercial banking capabilities, particularly as it rebrands other divisions like Silicon Valley Bank. With over $225 billion in assets, First Citizens is positioning itself to better serve clients' evolving financing needs through a more cohesive platform.

What we're watching

Integration Execution: How smoothly First Citizens Bank integrates these disparate businesses under the new Working Capital Finance group.
Client Retention: Whether the rebranding and consolidation will lead to client attrition or increased loyalty.
Market Differentiation: The pace at which First Citizens Bank can differentiate its Working Capital Finance offerings from competitors in the middle-market space.