You are using an outdated browser. Please upgrade your browser to use this site.

See how we’re
powering forward

CIT reaches agreement to acquire Mutual of Omaha Bank

Press Release

CIT has reached a definitive agreement to acquire
Mutual of Omaha Bank from the insurance and financial services company, Mutual of Omaha.

Learn more

Investor Presentation

Get a closer look at the details behind the deal.

Explore the details

Frequently asked questions (FAQs)

Get the answers to your most frequently asked questions.

Why is CIT acquiring Mutual of Omaha Bank?

The acquisition will accelerate the next phase of CIT’s strategic plan and complement the company’s focus on serving small and midsized businesses and personal savers with products to meet their needs.

When is it expected to be completed? When will there be more information?

The transaction is expected to close in the first quarter of 2020, subject to regulatory approval and other customary closing conditions.

Will there be any impact on CIT, CIT Bank or OneWest Bank accounts as a result of this transaction?

There is no direct impact to CIT, CIT Bank or OneWest Bank customers as a result of this agreement.

What brand will be used once the transaction closes?

The Mutual brand will be used for a transition period, and CIT will be exploring options for branding that draws on the heritage of the CIT name.  Additional details will be shared at a later date.

Tell me about Mutual of Omaha Bank.

Mutual of Omaha Bank is a bank providing financial solutions to individuals and businesses across the United States. It is a leader in providing banking services to homeowners’ associations and property managers nationwide, as well as in commercial banking.