Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  CIT Group Inc.    CIT

CIT GROUP INC.

(CIT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

CIT : Financial Data Package

11/19/2020 | 04:15pm EST

FINANCIAL DATA PACKAGE

The data provided herein has not been examined by independent accountants and may not be presented in accordance with generally accepted accounting principles ("GAAP"). As such, the data may vary from comparable data reported in CIT's Forms 10-K & 10-Q. Modifications include, but are not limited to, the presentation of revised and restated financials, the reclassification of certain prior period data to conform to the current period presentation and differences due to rounding.

Please refer to the Company's SEC filings on Forms 10-K and 10-Q for consolidated financial results prepared in accordance with GAAP.

Amounts shown are as of or for the period ending as applicable.

as of October 30, 2020

CIT Group Inc.

Financial Data Package

Table of Contents

Item

Page

Income Statement - Consolidated Data

3

Income Statement - Consolidated Data, excluding Noteworthy Items

4

Income Statement - By Segment, excluding Noteworthy Items

5

Balance Sheet

6

Average Balance Sheet - Yields/Rates

7

Average Balance Sheet - Yields/Rates excluding Noteworthy Items

8

Deposits and Borrowings

9

Charge-offs and Credit Provision

10

Credit Quality

11

Select Data and Ratios

12

Commercial Banking

13

Consumer Banking

14

Corporate

15

Earning Assets by Division

16

Average Earning Assets by Division

17

CIT Bank - Select Financial Data

18

Non-GAAP Disclosures

19

Noteworthy Items

20

Financial Terms

21

CIT Group Inc.

Income Statement - Consolidated (dollars in millions)

Certain balances may not sum due to rounding

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Income Statement

Interest income

Interest and fees on loans

$

395.8

$

417.2

$

467.6

$

428.2

$

446.8

$

1,783.3

$

1,671.8

Other interest and dividends

27.5

29.7

46.0

53.2

56.6

233.5

218.6

Total interest income

423.3

446.9

513.6

481.4

503.4

2,016.8

1,890.4

Net operating lease revenue

Rental income on operating leases

201.3

200.9

209.8

215.3

211.7

857.7

1,009.0

Depreciation on operating lease equipment

82.5

81.1

78.3

76.4

76.0

308.6

311.1

Maintenance and other operating lease expenses

48.6

56.1

53.6

40.7

41.9

180.7

230.4

Total net operating lease revenue

70.2

63.7

77.9

98.2

93.8

368.4

467.5

Interest expense

Interest on deposits

103.2

138.3

156.6

163.4

173.8

664.9

460.4

Interest on borrowings

62.3

64.2

69.1

66.4

70.1

287.1

354.7

Total interest expense

165.5

202.5

225.7

229.8

243.9

952.0

815.1

Net finance revenue

328.0

308.1

365.8

349.8

353.3

1,433.2

1,542.8

Other non-interest income(1)

146.0

102.6

130.6

111.3

101.0

415.2

373.8

Non-interest expenses

Operating expenses(2)

295.5

360.4

334.4

258.5

310.8

1,113.2

1,070.0

Goodwill impairment

-

-

344.7

-

-

-

-

(Gain) loss on debt extinguishments and deposit redemption

-

(14.8)

-

0.1

0.1

0.5

38.6

Total non-interest expenses

295.5

345.6

679.1

258.6

310.9

1,113.7

1,108.6

Pre-provision net revenue

178.5

65.1

(182.7)

202.5

143.4

734.7

808.0

Provision for credit losses

63.3

223.6

513.9

22.6

26.6

110.8

171.0

Income (loss) from continuing operations before provision (benefit) for income taxes

115.2

(158.5)

(696.6)

179.9

116.8

623.9

637.0

Provision (benefit) for income taxes

29.5

(73.2)

(72.3)

49.3

(26.0)

94.5

164.9

Income (loss) from continuing operations

85.7

(85.3)

(624.3)

130.6

142.8

529.4

472.1

Discontinued operations

Income (loss) from discontinued operations, net of taxes

-

-

-

-

-

0.5

(25.0)

Net income (loss)

85.7

(85.3)

(624.3)

130.6

142.8

529.9

447.1

Preferred Dividends

2.8

12.3

3.8

9.5

-

18.9

18.9

Net income (loss) available to common shareholders

$

82.9

$

(97.6)

$

(628.1)

$

121.1

$

142.8

$

511.0

$

428.2

Income (loss) from continuing operations, available to common shareholders

$

82.9

$

(97.6)

$

(628.1)

$

121.1

$

142.8

$

510.5

$

453.2

Basic income (loss) per common share

Income (loss) from continuing operations

$

0.84

$

(0.99)

$

(6.40)

$

1.28

$

1.51

$

5.29

$

3.85

Income (loss) from discontinued operations

-

-

-

-

-

0.01

(0.21)

Basic income (loss) per common share

$

0.84

$

(0.99)

$

(6.40)

$

1.28

$

1.51

$

5.30

$

3.64

Average number of common shares - basic (thousands)

98,523

98,438

98,089

94,745

94,732

96,503

117,653

Diluted income (loss) per common share

Income (loss) from continuing operations

$

0.84

$

(0.99)

$

(6.40)

$

1.27

$

1.50

$

5.27

$

3.82

Income (loss) from discontinued operations

-

-

-

-

-

-

(0.21)

Diluted income (loss) per common share

$

0.84

$

(0.99)

$

(6.40)

$

1.27

$

1.50

$

5.27

$

3.61

Average number of common shares - diluted (thousands)

98,556

98,438

98,089

95,143

95,018

96,921

118,777

(1)Other Non-Interest Income

Fee income

$

32.6

$

30.3

$

33.9

$

29.3

$

29.2

$

116.7

$

103.5

Factoring commissions

19.8

11.3

23.0

25.8

25.2

98.8

102.4

Gains on leasing equipment, net of impairments

24.3

20.5

23.3

19.6

17.9

71.1

59.5

BOLI income

15.7

8.1

7.6

7.7

7.8

29.1

25.5

Gains on investment securities, net of impairments

8.3

7.9

13.5

0.9

1.6

6.2

15.3

Property tax income

4.0

4.7

4.6

5.2

5.1

22.2

-

Other income

41.3

19.8

24.7

22.8

14.2

71.1

67.6

Total other non-interest income

$

146.0

$

102.6

$

130.6

$

111.3

$

101.0

$

415.2

$

373.8

(2)Operating Expenses

Compensation and benefits

$

148.6

$

166.0

$

182.1

$

142.0

$

137.5

$

566.8

$

558.4

Technology

39.4

42.7

38.8

34.5

34.3

135.8

131.5

Professional fees

22.2

29.7

24.9

19.7

21.0

75.9

82.7

Insurance

25.3

16.9

13.3

10.6

12.5

51.1

68.3

Net occupancy expense

19.7

20.2

18.9

15.9

44.5

91.3

65.6

Advertising and marketing

4.8

8.9

16.6

7.0

14.4

40.4

47.6

Property tax expense

4.8

4.8

4.8

6.0

5.9

24.1

-

Restructuring costs

-

37.2

-

-

15.1

15.1

-

Intangible asset amortization

8.5

8.5

8.5

5.8

5.8

23.2

23.9

Other expenses

22.2

25.5

26.5

17.0

19.8

89.5

92.0

Operating expenses

$

295.5

$

360.4

$

334.4

$

258.5

$

310.8

$

1,113.2

$

1,070.0

Noteworthy items

0.5

57.1

17.1

-

44.0

44.0

-

Intangible asset amortization

8.5

8.5

8.5

5.8

5.8

23.2

23.9

Operating expenses, excluding noteworthy items and intangible asset amortization

286.5

294.8

308.8

252.7

261.0

1,046.0

1,046.1

CIT Group Inc.

Income Statement - Consolidated, excluding Noteworthy Items (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Income Statement

Interest income

Interest and fees on loans

$

395.8

$

417.2

$

467.6

$

428.2

$

446.8

$

1,783.3

$

1,671.8

Other interest and dividends

27.5

29.7

46.0

53.2

56.6

233.5

218.6

Total interest income

423.3

446.9

513.6

481.4

503.4

2,016.8

1,890.4

Net operating lease revenue

Rental income on operating leases

201.3

200.9

209.8

215.3

211.7

857.7

1,009.0

Depreciation on operating lease equipment

82.5

81.1

78.3

76.4

76.0

308.6

337.6

Maintenance and other operating lease expenses

48.6

56.1

53.6

40.7

41.9

180.7

230.4

Total net operating lease revenue

70.2

63.7

77.9

98.2

93.8

368.4

441.0

Interest expense

Interest on deposits

103.2

138.3

156.6

163.4

173.8

664.9

460.4

Interest on borrowings

62.3

64.2

69.1

66.4

70.1

287.1

354.7

Total interest expense

165.5

202.5

225.7

229.8

243.9

952.0

815.1

Net finance revenue

328.0

308.1

365.8

349.8

353.3

1,433.2

1,516.3

Other non-interest income(1)

146.0

102.6

130.6

111.3

101.0

415.2

399.5

Non-interest expenses

Operating expenses(2)

295.0

303.3

317.3

258.5

266.8

1,069.2

1,070.0

(Gain) loss on debt extinguishments and deposit redemption

-

(14.8)

-

0.1

0.1

0.5

0.5

Total non-interest expenses

295.0

288.5

317.3

258.6

266.9

1,069.7

1,070.5

Pre-provision net revenue

179.0

122.2

179.1

202.5

187.4

778.7

845.3

Provision for credit losses

63.3

223.6

469.1

22.6

26.6

110.8

171.0

Income (loss) from continuing operations before provision (benefit) for income taxes

115.7

(101.4)

(290.0)

179.9

160.8

667.9

674.3

Provision (benefit) for income taxes

30.2

(52.3)

(55.4)

49.3

38.3

158.8

175.8

Income (loss) from continuing operations

85.5

(49.1)

(234.6)

130.6

122.5

509.1

498.5

Discontinued operations

Income (loss) from discontinued operations, net of taxes

-

-

-

-

-

0.5

(11.2)

Net income (loss)

85.5

(49.1)

(234.6)

130.6

122.5

509.6

487.3

Less: preferred stock dividends

2.8

12.3

3.8

9.5

-

18.9

18.9

Net income (loss) available to common shareholders

$

82.7

$

(61.4)

$

(238.4)

$

121.1

$

122.5

$

490.7

$

468.4

Income (loss) from continuing operations, available to common shareholders

$

82.7

$

(61.4)

$

(238.4)

$

121.1

$

122.5

$

490.2

$

479.6

Basic income (loss) per common share

Income (loss) from continuing operations

$

0.84

$

(0.62)

$

(2.43)

$

1.28

$

1.29

$

5.08

$

4.08

Income (loss) from discontinued operations

-

-

-

-

-

0.00

(0.10)

Basic income (loss) per common share

$

0.84

$

(0.62)

$

(2.43)

$

1.28

$

1.29

$

5.08

$

3.98

Average number of common shares - basic (thousands)

98,523

98,438

98,089

94,745

94,732

96,503

117,653

Diluted income (loss) per common share

Income (loss) from continuing operations

$

0.84

$

(0.62)

$

(2.43)

$

1.27

$

1.29

$

5.06

$

4.04

Income (loss) from discontinued operations

-

-

-

-

-

0.00

(0.10)

Diluted income (loss) per common share

$

0.84

$

(0.62)

$

(2.43)

$

1.27

$

1.29

$

5.06

$

3.94

Average number of common shares - diluted (thousands)

98,556

98,438

98,089

95,143

95,018

96,921

118,777

(1)Other Non-Interest Income

Fee income

$

32.6

$

30.3

$

33.9

$

29.3

$

29.2

$

116.7

$

103.5

Factoring commissions

19.8

11.3

23.0

25.8

25.2

98.8

102.4

Gains on leasing equipment, net of impairments

24.3

20.5

23.3

19.6

17.9

71.1

59.7

BOLI income

15.7

8.1

7.6

7.7

7.8

29.1

25.5

Gains on investment securities, net of impairments

8.3

7.9

13.5

0.9

1.6

6.2

15.3

Property tax income

4.0

4.7

4.6

5.2

5.1

22.2

-

Other income

41.3

19.8

24.7

22.8

14.2

71.1

93.1

Total other non-interest income

$

146.0

$

102.6

$

130.6

$

111.3

$

101.0

$

415.2

$

399.5

(2)Operating Expenses

Compensation and benefits

$

155.9

$

164.0

$

177.6

$

142.0

$

137.5

$

566.8

$

558.4

Technology

34.8

38.1

35.7

34.5

34.3

135.8

131.5

Professional fees

18.9

18.9

18.0

19.7

21.0

75.9

82.7

Insurance

25.3

16.9

13.3

10.6

12.5

51.1

68.3

Net occupancy expense

19.7

20.1

18.9

15.9

15.6

62.4

65.6

Advertising and marketing

4.9

6.6

14.3

7.0

14.4

40.4

47.6

Property tax expense

4.8

4.8

4.8

6.0

5.9

24.1

-

Intangible asset amortization

8.5

8.5

8.5

5.8

5.8

23.2

23.9

Other expenses

22.2

25.4

26.2

17.0

19.8

89.5

92.0

Operating expenses

$

295.0

$

303.3

$

317.3

$

258.5

$

266.8

$

1,069.2

$

1,070.0

Intangible asset amortization

8.5

8.5

8.5

5.8

5.8

23.2

23.9

Operating expenses, excluding noteworthy items and intangible asset amortization

286.5

294.8

308.8

252.7

261.0

1,046.0

1,046.1

CIT Group Inc.

Business Segment Income Statement, excluding Noteworthy Items

(dollars in millions)

Certain balances may not sum due to rounding.

3Q20

Commercial

Consumer

Banking

Banking

Corporate

Total

Income Statement

Interest income

Interest and fees on loans

$

305.8

$

90.1

$

(0.1)

$

395.8

Other interest and dividends

0.9

0.2

26.4

27.5

Total interest income

306.7

90.3

26.3

423.3

Net operating lease revenue

Rental income on operating leases

201.3

-

-

201.3

Depreciation on operating lease equipment

82.5

-

-

82.5

Maintenance and other operating lease expenses

48.6

-

-

48.6

Total net operating lease revenue

70.2

-

-

70.2

Interest expense

Interest on deposits

12.0

75.0

16.2

103.2

Interest (benefit) on borrowings

93.3

(80.9)

49.9

62.3

Total interest (benefit) expense

105.3

(5.9)

66.1

165.5

Net finance revenue

271.6

96.2

(39.8)

328.0

Other non-interest income

89.6

30.9

25.5

146.0

Non-interest expenses

Operating expenses

199.2

95.4

0.4

295.0

Total non-interest expenses

199.2

95.4

0.4

295.0

Pre-provision net revenue

162.0

31.7

(14.7)

179.0

Provision (benefit) for credit losses

87.9

(24.6)

-

63.3

Income (loss) from continuing operations before provision (benefit) for income taxes

$

74.1

$

56.3

$

(14.7)

$

115.7

CIT Group Inc.

Balance Sheet (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Assets

Total cash and interest bearing cash

$

6,705.6

$

8,080.3

$

3,698.5

$

2,685.6

$

1,824.6

$

2,685.6

$

1,795.6

Securities purchased under agreement to resell

-

100.0

-

950.0

2,000.0

950.0

400.0

Investment securities

6,608.8

5,656.5

6,128.6

6,276.8

6,109.7

6,276.8

6,233.8

Assets held for sale

56.7

82.7

73.2

32.1

169.2

32.1

88.4

Loans

37,319.6

37,518.3

38,530.4

30,998.9

31,345.5

30,998.9

30,795.4

Allowance for credit losses

(1,206.2)

(1,202.7)

(1,111.1)

(482.6)

(486.2)

(482.6)

(489.7)

Loans, net of allowance for credit losses

36,113.4

36,315.6

37,419.3

30,516.3

30,859.3

30,516.3

30,305.7

Operating lease equipment, net

7,799.3

7,778.1

7,488.1

7,319.7

7,099.9

7,319.7

6,970.6

Goodwill

140.4

146.8

146.8

369.9

369.9

369.9

369.9

Bank owned life insurance

1,160.4

1,158.9

1,100.9

1,043.2

1,035.5

1,043.2

814.1

Other assets(1)

2,280.4

2,383.5

2,881.3

1,639.2

1,935.0

1,639.2

1,309.5

Assets of discontinued operations

-

-

-

-

-

-

249.8

Total assets

$

60,865.0

$

61,702.4

$

58,936.7

$

50,832.8

$

51,403.1

$

50,832.8

$

48,537.4

Liabilities

Deposits

$

44,706.2

$

45,815.2

$

42,162.1

$

35,139.5

$

35,910.0

$

35,139.5

$

31,239.5

Credit balances of factoring clients

1,320.2

989.1

1,023.7

1,176.2

1,238.4

1,176.2

1,674.4

Other liabilities(2)

1,789.9

1,560.9

1,795.8

1,704.7

1,798.0

1,704.7

1,261.1

Borrowings

FHLB advances

2,550.0

2,850.0

3,050.0

1,650.0

1,350.0

1,650.0

3,600.0

Other secured and structured financings

3.1

15.8

561.3

361.1

710.9

361.1

710.4

Senior unsecured

4,236.8

4,237.5

3,975.5

3,967.9

3,966.6

3,967.9

3,413.0

Subordinated unsecured

494.8

494.6

494.5

494.4

395.7

494.4

395.4

Securities sold under agreement to repurchase

-

-

13.0

-

-

-

-

Total borrowings

7,284.7

7,597.9

8,094.3

6,473.4

6,423.2

6,473.4

8,118.8

Liabilities of discontinued operations

-

-

-

-

-

-

297.0

Total liabilities

$

55,101.0

$

55,963.1

$

53,075.9

$

44,493.8

$

45,369.6

$

44,493.8

$

42,590.8

Equity

Stockholders' equity

Preferred stock

$

525.0

$

525.0

$

525.0

$

525.0

$

325.0

$

525.0

$

325.0

Common stock

1.6

1.6

1.6

1.6

1.6

1.6

1.6

Paid-in capital

6,882.1

6,885.5

6,873.3

6,853.7

6,847.8

6,853.7

6,810.8

Retained earnings

1,467.1

1,419.4

1,552.1

2,307.6

2,220.3

2,307.6

1,924.4

Accumulated other comprehensive income (loss)

46.4

65.8

66.8

(52.1)

(64.5)

(52.1)

(178.3)

Treasury stock, at cost

(3,158.2)

(3,158.0)

(3,158.0)

(3,296.8)

(3,296.7)

(3,296.8)

(2,936.9)

Total common stockholders' equity

5,239.0

5,214.3

5,335.8

5,814.0

5,708.5

5,814.0

5,621.6

Total equity

$

5,764.0

$

5,739.3

$

5,860.8

$

6,339.0

$

6,033.5

$

6,339.0

$

5,946.6

Total liabilities and equity

$

60,865.0

$

61,702.4

$

58,936.7

$

50,832.8

$

51,403.1

$

50,832.8

$

48,537.4

Book Value Per Common Share

Common stockholders' equity

$

5,239.0

$

5,214.3

$

5,335.8

$

5,814.0

$

5,708.5

$

5,814.0

$

5,621.6

Less: goodwill

140.4

146.8

146.8

369.9

369.9

369.9

369.9

Less: intangible assets

143.4

151.8

160.1

66.0

71.8

66.0

89.2

Tangible common equity

$

4,955.2

$

4,915.7

$

5,028.9

$

5,378.1

$

5,266.8

$

5,378.1

$

5,162.5

Book value per common share

53.17

52.97

54.24

61.37

60.27

61.37

55.70

Tangible book value per common share

50.29

49.93

51.12

56.77

55.60

56.77

51.15

Outstanding common shares (in thousands)

98,526

98,447

98,366

94,743

94,720

94,743

100,920

(1)Other Assets

Tax credit investments in unconsolidated entities

$

405.8

$

415.4

$

394.3

$

365.6

$

356.3

$

365.6

$

313.9

Property, furniture and fixtures

191.6

189.6

190.2

160.0

165.2

160.0

160.0

Current and deferred federal and state tax assets

50.1

111.2

272.6

55.6

125.9

55.6

137.0

Intangible assets, net

143.4

151.8

160.1

66.0

71.8

66.0

89.2

Counterparty receivables

198.3

200.2

204.4

126.5

311.3

126.5

57.0

Indemnification assets

-

-

-

-

-

-

10.8

Right of use assets

220.7

228.5

232.4

194.9

192.5

194.9

-

Fair value of derivative financial instruments

487.7

545.1

546.5

190.7

272.3

190.7

119.9

Other

582.8

541.7

880.8

479.9

439.7

479.9

421.7

Total other assets

$

2,280.4

$

2,383.5

$

2,881.3

$

1,639.2

$

1,935.0

$

1,639.2

$

1,309.5

(2)Other Liabilities

Accrued expenses and accounts payable

$

509.6

$

491.6

$

508.1

$

565.4

$

522.8

$

565.4

$

561.5

Current and deferred taxes payable

99.5

73.7

317.8

167.2

136.3

167.2

106.9

Accrued interest payable

47.4

90.0

46.6

92.9

46.0

92.9

91.7

Fair value of derivative financial instruments

86.3

91.2

95.1

32.0

219.1

32.0

79.7

Lease liabilities

267.5

275.4

280.6

242.6

241.1

242.6

-

Commitment to fund tax credit investments

163.6

141.4

118.4

119.5

126.5

119.5

97.1

Allowance for off-balance sheet credit exposure

74.8

81.2

120.0

37.1

42.4

37.1

41.5

Other

541.2

316.4

309.2

448.0

463.8

448.0

282.7

Total other liabilities

$

1,789.9

$

1,560.9

$

1,795.8

$

1,704.7

$

1,798.0

$

1,704.7

$

1,261.1

CIT Group Inc.

Average Balance Sheet - Yields/Rates (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

Average

Revenue /

Average

Revenue /

Average

Revenue /

Average

Revenue /

Average

Revenue /

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Assets

Interest bearing cash

$

7,652.1

$

2.1

0.11%

$

7,110.7

$

1.8

0.10%

$

1,817.1

$

5.6

1.23%

$

1,403.7

$

6.5

1.85%

$

1,378.2

$

7.8

2.26%

Investment securities and securities purchased under agreements to resell

5,989.9

25.4

1.70%

5,766.4

27.9

1.94%

7,957.9

40.4

2.03%

7,859.4

46.7

2.38%

7,733.3

48.8

2.52%

Loans (including held for sale)

36,301.6

395.8

4.36%

37,109.8

417.2

4.50%

36,493.6

467.6

5.13%

30,015.0

428.2

5.71%

30,071.2

446.8

5.94%

Operating lease equipment, net (including held for sale)

7,824.4

70.2

3.59%

7,602.1

63.7

3.35%

7,416.1

77.9

4.20%

7,225.6

98.2

5.44%

7,062.1

93.8

5.31%

Indemnification assets

-

-

-

-

-

-

-

-

-

-

-

0.00%

-

-

0.00%

Average earning assets

57,768.0

493.5

3.42%

57,589.0

510.6

3.55%

53,684.7

591.5

4.41%

46,503.7

579.6

4.99%

46,244.8

597.2

5.17%

Non-interest earning assets

Cash and due from banks

175.9

185.8

228.1

150.8

125.6

Allowance for credit losses

(1,196.1)

(1,102.4)

(763.7)

(487.2)

(484.7)

All other non-interest bearing assets

3,685.8

3,577.2

3,552.0

3,158.8

3,316.0

Assets of discontinued operation

-

-

-

-

25.5

Total average assets

$

60,433.6

$

60,249.6

$

56,701.1

$

49,326.1

$

49,227.2

Liabilities

Deposits

$

42,320.5

$

103.2

0.98%

$

41,857.7

$

138.3

1.32%

$

39,045.0

$

156.6

1.60%

$

33,984.4

$

163.4

1.92%

$

33,577.6

$

173.8

2.07%

Borrowings

7,557.5

62.3

3.30%

7,958.4

64.2

3.23%

6,951.4

69.1

3.98%

5,864.5

66.4

4.53%

6,364.0

70.1

4.41%

Total interest-bearing liabilities

49,878.0

165.5

1.33%

49,816.1

202.5

1.63%

45,996.4

225.7

1.96%

39,848.9

229.8

2.31%

39,941.6

243.9

2.44%

Non-interest bearing deposits

3,073.4

3,019.6

2,657.9

1,605.1

1,533.2

Other non-interest bearing liabilities

1,734.2

1,597.7

1,599.5

1,673.6

1,692.1

Liabilities of discontinued operation

-

-

-

-

104.9

Stockholders' equity

5,748.0

5,816.2

6,447.3

6,198.5

5,955.4

Total average liabilities and stockholders' equity

$

60,433.6

$

60,249.6

$

56,701.1

$

49,326.1

$

49,227.2

2019

2018

Average

Revenue /

Average

Revenue /

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Assets

Interest bearing cash

$

1,689.8

$

37.1

2.20%

$

2,399.6

$

42.3

1.76%

Investment securities and securities purchased under agreements to resell

7,724.4

196.4

2.54%

6,354.3

176.3

2.77%

Loans (including held for sale)

29,775.5

1,780.8

5.98%

28,644.8

1,711.4

5.97%

Operating lease equipment, net (including held for sale)

7,075.6

368.4

5.21%

7,738.7

467.5

6.04%

Indemnification assets

1.9

2.5

NM

77.0

(39.6)

-51.43%

Average earning assets

46,267.2

2,385.2

5.16%

45,214.4

2,357.9

5.21%

Non-interest earning assets

Cash and due from banks

138.7

203.9

Allowance for credit losses

(488.1)

(456.6)

All other non-interest bearing assets

3,094.2

2,646.8

Assets of discontinued operation

108.6

386.5

Total average assets

$

49,120.6

$

47,995.0

Liabilities

Deposits

$

33,238.8

$

664.9

2.00%

$

29,266.1

$

460.4

1.57%

Borrowings

6,519.0

287.1

4.40%

8,824.0

354.7

4.02%

Total interest-bearing liabilities

39,757.8

952.0

2.39%

38,090.1

815.1

2.14%

Non-interest bearing deposits

1,592.8

1,493.3

Other non-interest bearing liabilities

1,601.9

1,397.5

Liabilities of discontinued operation

162.4

386.0

Stockholders' equity

6,005.7

6,628.1

Total average liabilities and stockholders' equity

$

49,120.6

$

47,995.0

CIT Group Inc.

Average Balance Sheet - Yields/Rates excluding Noteworthy Items (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

Average

Revenue /

Average

Revenue /

Average

Revenue /

Average

Revenue /

Average

Revenue /

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Assets

Interest bearing cash

$

7,652.1

$

2.1

0.11%

$

7,110.7

$

1.8

0.10%

$

1,817.1

$

5.6

1.23%

$

1,403.7

$

6.5

1.85%

$

1,378.2

$

7.8

2.26%

Investment securities and securities purchased under agreements to resell

5,989.9

25.4

1.70%

5,766.4

27.9

1.94%

7,957.9

40.4

2.03%

7,859.4

46.7

2.38%

7,733.3

48.8

2.52%

Loans (including held for sale)

36,301.6

395.8

4.36%

37,109.8

417.2

4.50%

36,493.6

467.6

5.13%

30,015.0

428.2

5.71%

30,071.2

446.8

5.94%

Operating lease equipment, net (including held for sale)

7,824.4

70.2

3.59%

7,602.1

63.7

3.35%

7,416.1

77.9

4.20%

7,225.6

98.2

5.44%

7,062.1

93.8

5.31%

Indemnification assets

-

-

-

-

-

-

-

-

-

-

-

0.00%

-

-

0.00%

Average earning assets

57,768.0

493.5

3.42%

57,589.0

510.6

3.55%

53,684.7

591.5

4.41%

46,503.7

579.6

4.99%

46,244.8

597.2

5.17%

Non-interest earning assets

Cash and due from banks

175.9

185.8

228.1

150.8

125.6

Allowance for credit losses

(1,196.1)

(1,102.4)

(763.7)

(487.2)

(484.7)

All other non-interest bearing assets

3,685.8

3,577.2

3,552.0

3,158.8

3,316.0

Assets of discontinued operation

-

-

-

-

25.5

Total average assets

$

60,433.6

$

60,249.6

$

56,701.1

$

49,326.1

$

49,227.2

Liabilities

Deposits

$

42,320.5

$

103.2

0.98%

$

41,857.7

$

138.3

1.32%

$

39,045.0

$

156.6

1.60%

$

33,984.4

$

163.4

1.92%

$

33,577.6

$

173.8

2.07%

Borrowings

7,557.5

62.3

3.30%

7,958.4

64.2

3.23%

6,951.4

69.1

3.98%

5,864.5

66.4

4.53%

6,364.0

70.1

4.41%

Total interest-bearing liabilities

49,878.0

165.5

1.33%

49,816.1

202.5

1.63%

45,996.4

225.7

1.96%

39,848.9

229.8

2.31%

39,941.6

243.9

2.44%

Non-interest bearing deposits

3,073.4

3,019.6

2,657.9

1,605.1

1,533.2

Other non-interest bearing liabilities

1,734.2

1,597.7

1,599.5

1,673.6

1,692.1

Liabilities of discontinued operations

-

-

-

-

104.9

Stockholders' equity

5,748.0

5,816.2

6,447.3

6,198.5

5,955.4

Total average liabilities and stockholders' equity

$

60,433.6

$

60,249.6

$

56,701.1

$

49,326.1

$

49,227.2

2019

2018

Average

Revenue /

Average

Revenue /

Balance

Expense

Yield / Rate

Balance

Expense

Yield / Rate

Assets

Interest bearing cash

$

1,689.8

$

37.1

2.20%

$

2,399.6

$

42.3

1.76%

Investment securities and securities purchased under agreements to resell

7,724.4

196.4

2.54%

6,354.3

176.3

2.77%

Loans (including held for sale)

29,775.5

1,780.8

5.98%

28,644.8

1,711.4

5.97%

Operating lease equipment, net (including held for sale)

7,075.6

368.4

5.21%

7,738.7

441.0

5.70%

Indemnification assets

1.9

2.5

NM

77.0

(39.6)

-51.43%

Average earning assets

46,267.2

2,385.2

5.16%

45,214.4

2,331.4

5.16%

Non-interest earning assets

Cash and due from banks

138.7

203.9

Allowance for credit losses

(488.1)

(456.6)

All other non-interest bearing assets

3,094.2

2,646.8

Assets of discontinued operation

108.6

386.5

Total average assets

$

49,120.6

$

47,995.0

Liabilities

Deposits

$

33,238.8

$

664.9

2.00%

$

29,266.1

$

460.4

1.57%

Borrowings

6,519.0

287.1

4.40%

8,824.0

354.7

4.02%

Total interest-bearing liabilities

39,757.8

952.0

2.39%

38,090.1

815.1

2.14%

Non-interest bearing deposits

1,592.8

1,493.3

Other non-interest bearing liabilities

1,601.9

1,397.5

Liabilities of discontinued operations

162.4

386.0

Stockholders' equity

6,005.7

6,628.1

Total average liabilities and stockholders' equity

$

49,120.6

$

47,995.0

CIT Group Inc.

Deposits and Borrowings (dollars in millions)

Certain balances may not sum due to rounding

3Q20

2Q20

1Q20

4Q19

3Q19

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Average Deposits by Type

Total interest-bearing deposits

Interest-bearing checking

$

3,282.6

$

2.9

0.35%

$

3,163.3

$

3.0

0.38%

$

2,927.3

$

3.1

0.42%

$

1,216.5

$

1.7

0.56%

$

1,246.0

$

2.0

0.64%

Savings and money market

27,187.0

47.3

0.70%

26,143.4

75.6

1.16%

24,218.0

92.3

1.52%

20,811.4

92.2

1.77%

19,868.4

98.7

1.99%

Time deposits

11,850.9

53.0

1.79%

12,551.0

59.7

1.90%

11,899.7

61.2

2.06%

11,956.5

69.5

2.33%

12,463.2

73.1

2.35%

Non-interest bearing deposits

3,073.4

-

-

3,019.6

-

-

2,657.9

-

-

1,605.1

-

-

1,533.2

-

-

Total deposits

$

45,393.9

$

103.2

0.91%

$

44,877.3

$

138.3

1.23%

$

41,702.9

$

156.6

1.50%

$

35,589.5

$

163.4

1.84%

$

35,110.8

$

173.8

1.98%

Average Deposits by Channel

Online channel

$

20,830.1

$

53.2

1.02%

$

20,891.3

$

81.0

1.55%

$

18,745.0

$

87.4

1.86%

$

19,157.1

$

94.7

1.98%

$

18,890.0

$

104.2

2.21%

Branch channel

11,923.4

21.8

0.73%

11,979.3

28.9

0.96%

12,201.8

39.8

1.30%

11,571.6

44.3

1.53%

11,504.8

45.1

1.57%

Commercial channel

4,419.3

5.2

0.47%

3,866.3

4.2

0.43%

3,275.0

5.2

0.64%

1,942.7

3.9

0.80%

1,866.0

4.0

0.86%

Brokered/other channel

2,668.7

16.2

2.43%

2,847.9

17.8

2.50%

2,605.8

18.0

2.76%

2,918.1

20.5

2.81%

2,850.0

20.5

2.88%

Homeowners association

5,552.4

6.8

0.49%

5,292.5

6.4

0.48%

4,875.3

6.2

-%

-

-

-%

-

-

-%

Total deposits

$

45,393.9

$

103.2

0.91%

$

44,877.3

$

138.3

1.23%

$

41,702.9

$

156.6

1.50%

$

35,589.5

$

163.4

1.84%

$

35,110.8

$

173.8

1.98%

3Q20

2Q20

1Q20

4Q19

3Q19

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Balance

Expense

APY %

Average Deposits and Borrowings

Deposits

$

45,393.9

$

103.2

0.91%

$

44,877.3

$

138.3

1.23%

$

41,702.9

$

156.6

1.50%

$

35,589.5

$

163.4

1.84%

$

35,110.8

$

173.8

1.98%

FHLB advances

2,809.8

4.1

0.58%

3,038.0

6.6

0.87%

1,949.9

8.9

1.83%

1,008.2

5.4

2.14%

1,907.6

11.7

2.45%

Other secured and structured financings

15.5

0.1

2.58%

448.8

2.5

2.23%

357.9

3.4

3.80%

438.7

4.2

3.83%

615.1

6.4

4.16%

Senior unsecured

4,237.5

48.7

4.60%

3,971.8

46.1

4.64%

3,970.7

46.9

4.72%

3,969.2

47.6

4.80%

3,445.7

43.4

5.04%

Subordinated unsecured

494.7

7.3

5.90%

494.5

7.4

5.99%

494.6

7.2

5.82%

448.4

6.8

6.07%

395.6

6.3

6.37%

Securities sold under agreement to repurchase

-

-

-

5.3

-

0.00%

178.3

0.5

-%

-

-

-%

-

-

-%

Other credit facilities

-

2.1

-

-

1.6

-

-

2.2

-

-

2.4

-

-

2.3

-

Total deposits and borrowings

$

52,951.4

$

165.5

1.25%

$

52,835.7

$

202.5

1.53%

$

48,654.3

$

225.7

1.86%

$

41,454.0

$

229.8

2.22%

$

41,474.8

$

243.9

2.35%

3Q20

2Q20

1Q20

4Q19

3Q19

% of Total

% of Total

% of Total

% of Total

% of Total

Balance

Deposits

Balance

Deposits

Balance

Deposits

Balance

Deposits

Balance

Deposits

Ending Balance Deposits by Type

Total interest bearing deposits

Interest bearing checking

$

3,201.6

7.2%

$

3,256.4

7.1%

$

2,852.9

6.8%

$

1,328.9

3.8%

$

1,166.7

3.2%

Savings and money market

27,213.0

60.9%

27,068.9

59.1%

24,089.3

57.1%

21,059.8

59.9%

20,544.6

57.2%

Time deposits

11,269.5

25.2%

12,378.5

27.0%

12,430.1

29.5%

11,157.7

31.8%

12,539.4

35.0%

Non-interest bearing deposits

3,022.1

6.7%

3,111.4

6.8%

2,789.8

6.6%

1,593.1

4.5%

1,659.3

4.6%

Total deposits

$

44,706.2

100.0%

$

45,815.2

100.0%

$

42,162.1

100.0%

$

35,139.5

100.0%

$

35,910.0

100.0%

Ending Balance Deposits by Channel

Online channel

$

20,156.5

45.1%

$

21,490.0

46.9%

$

18,971.2

45.0%

$

19,014.0

54.1%

$

19,207.9

53.5%

Branch channel

11,813.9

26.4%

11,993.0

26.2%

11,975.2

28.4%

11,230.6

32.0%

11,612.0

32.3%

Commercial channel

4,510.4

10.1%

4,298.2

9.4%

3,216.9

7.6%

2,228.6

6.3%

2,047.0

5.7%

Brokered/other channel

2,658.4

5.9%

2,693.1

5.9%

2,896.9

6.9%

2,666.3

7.6%

3,043.1

8.5%

Homeowners association

5,567.0

12.5%

5,340.9

11.6%

5,101.9

-%

-

-%

-

-%

Total deposits

$

44,706.2

100.0%

$

45,815.2

100.0%

$

42,162.1

100.0%

$

35,139.5

100.0%

$

35,910.0

100.0%

CIT Group Inc.

Charge-offs and Credit Provision (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

$

%

$

%

$

%

$

%

$

%

$

%

$

%

Gross Charge-offs

Commercial Finance

$

48.2

1.17%

$

149.5

3.57%

$

33.5

0.81%

$

17.9

0.50%

$

13.6

0.38%

$

68.6

0.48%

$

81.2

0.60%

Business Capital

29.0

2.37%

43.5

3.50%

27.3

2.18%

21.7

1.75%

18.4

1.48%

80.9

1.65%

57.3

1.27%

Real Estate Finance

-

0.00%

-

0.00%

-

0.00%

-

0.00%

0.4

0.03%

1.7

0.03%

0.2

0.00%

Commercial Banking

77.2

1.06%

193.0

2.63%

60.8

0.83%

39.6

0.64%

32.4

0.53%

151.2

0.62%

138.7

0.59%

Consumer and Community Banking

0.2

0.01%

-

0.00%

-

0.00%

-

0.00%

0.2

0.02%

0.2

0.00%

-

0.00%

Legacy Consumer Mortgages

0.8

0.17%

0.5

0.10%

2.2

0.40%

0.1

0.02%

0.2

0.04%

2.5

0.10%

4.1

0.13%

Consumer Banking

1.0

0.05%

0.5

0.02%

2.2

0.10%

0.1

0.01%

0.4

0.02%

2.7

0.04%

4.1

0.07%

Consolidated CIT Gross Charge-offs

$

78.2

0.84%

$

193.5

2.04%

$

63.0

0.67%

$

39.7

0.51%

$

32.8

0.42%

$

153.9

0.49%

$

142.8

0.48%

Net Charge-offs

Commercial Finance

$

46.6

1.14%

$

136.4

3.26%

$

31.3

0.76%

$

16.5

0.46%

$

13.1

0.36%

$

61.0

0.43%

$

74.8

0.60%

Business Capital

19.2

1.58%

33.5

2.70%

20.5

1.64%

15.9

1.28%

13.1

1.06%

59.6

1.22%

37.1

0.83%

Real Estate Finance

-

0.00%

-

0.00%

-

0.00%

(0.2)

(0.02%)

0.4

0.03%

1.5

0.03%

0.2

0.00%

Commercial Banking

65.8

0.91%

169.9

2.31%

51.8

0.71%

32.2

0.52%

26.6

0.43%

122.1

0.50%

112.1

0.48%

Consumer and Community Banking

0.2

0.01%

-

0.00%

-

0.00%

-

0.00%

0.2

0.02%

0.2

0.00%

-

0.00%

Legacy Consumer Mortgages

(0.0)

0.02%

(0.1)

(0.03%)

1.8

0.34%

(0.6)

(0.12%)

(0.4)

(0.08%)

-

0.00%

3.3

0.11%

Consumer Banking

0.2

0.01%

(0.1)

(0.01%)

1.8

0.08%

(0.6)

(0.04%)

(0.2)

(0.02%)

0.2

0.00%

3.3

0.05%

Consolidated CIT Net Charge-offs

$

66.0

0.71%

$

169.8

1.79%

$

53.6

0.57%

$

31.6

0.40%

$

26.4

0.34%

$

122.3

0.39%

$

115.4

0.39%

Provision for Credit Losses

Provision for loans individually reviewed

$

36.0

$

48.1

$

47.7

$

42.7

$

20.0

$

107.4

$

21.4

Provision for loans collectively reviewed

27.3

175.5

466.2

(20.1)

6.6

3.4

149.6

Consolidated CIT Provision for Credit Losses

$

63.3

$

223.6

$

513.9

$

22.6

$

26.6

$

110.8

$

171.0

Provision for Credit Losses

Commercial Banking

$

87.9

$

214.7

$

508.9

$

24.6

$

27.1

$

117.3

$

167.1

Consumer Banking

(24.6)

8.9

5.0

(2.0)

(0.5)

(6.5)

3.9

Consolidated CIT Provision for Credit Losses

$

63.3

$

223.6

$

513.9

$

22.6

$

26.6

$

110.8

$

171.0

Percentages are based on average loans, excluding loans held for sale.

CIT Group Inc.

Credit Quality (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

$

%

$

%

$

%

$

%

$

%

$

%

$

%

Non-Accruing Loans

Commercial Finance

$

357.4

2.15%

$

319.6

1.97%

$

229.8

1.34%

$

246.7

1.77%

$

220.1

1.53%

$

246.7

1.77%

$

195.8

1.40%

Business Capital

83.2

1.71%

78.8

1.57%

65.7

1.30%

60.9

1.21%

51.5

1.03%

60.9

1.21%

39.9

0.83%

Real Estate Finance

57.1

0.74%

52.3

0.68%

1.5

0.02%

0.4

0.01%

4.5

0.09%

0.4

0.01%

2.2

0.04%

Commercial Banking

497.7

1.70%

450.7

1.56%

297.0

0.99%

308.0

1.26%

276.1

1.11%

308.0

1.26%

237.9

0.98%

Consumer and Community Banking

22.0

0.36%

9.7

0.15%

7.0

0.11%

4.0

0.09%

7.9

0.18%

4.0

0.09%

6.1

0.16%

Legacy Consumer Mortgages

126.8

6.78%

96.0

4.75%

77.8

3.72%

14.3

0.69%

13.5

0.62%

14.3

0.69%

32.2

1.15%

Consumer Banking

148.8

1.84%

105.7

1.24%

84.8

1.00%

18.3

0.28%

21.4

0.33%

18.3

0.28%

38.3

0.59%

Corporate

-

-

-

0.00%

-

0.00%

-

0.00%

-

0.00%

-

0.00%

6.1

NM

Consolidated CIT Non-Accruing Loans

$

646.5

1.73%

$

556.4

1.48%

$

381.8

0.99%

$

326.3

1.05%

$

297.5

0.95%

$

326.3

1.05%

$

282.3

0.92%

Allowance For Credit Losses

Allowance on loans individually reviewed

$

128.1

$

109.7

$

125.5

$

96.2

$

69.6

$

96.2

$

47.4

Allowance on loans collectively reviewed

1,078.1

1,093.0

985.6

386.4

416.6

386.4

442.3

Consolidated CIT Allowance For Credit Losses

$

1,206.2

$

1,202.7

$

1,111.1

$

482.6

$

486.2

$

482.6

$

489.7

Allowance For Credit Losses

Commercial Banking

$

1,049.3

3.59%

$

1,020.1

3.52%

$

937.6

3.12%

$

460.4

1.89%

$

462.7

1.87%

$

460.4

1.89%

$

460.2

1.90%

Consumer Banking

156.9

1.94%

182.6

2.14%

173.5

2.04%

22.2

0.34%

23.5

0.36%

22.2

0.34%

29.5

0.45%

Consolidated CIT Allowance For Credit Losses

$

1,206.2

3.23%

$

1,202.7

3.21%

$

1,111.1

2.88%

$

482.6

1.56%

$

486.2

1.55%

$

482.6

1.56%

$

489.7

1.59%

Percentages are based on end of period loans.

CIT Group Inc. Selected Data & Ratios (dollars in millions)

Certain balances may not sum due to rounding.

Average Balances:

Average loans (including held for sale and net of credit balances of factoring clients)$ Average operating leases (AOL) (including held for sale)

Average loans and leases

Average core loans and leases

Average earning assets (AEA)(1)

Average earnings assets (AEA), excluding noteworthy items

Average common stockholders' equity

Average common stockholders' equity (adjusted)

Average tangible common stockholders' equity

Average tangible common stockholders' equity (adjusted)

Profitability Measures (continuing operations):

Gross yield(2)

Net yield(3)

Net finance margin (net finance revenue as a percentage of AEA)(1)

Net efficiency ratio(4)(5)

Return on average earning assets available to common shareholders (ROA)

Return on average common stockholders' equity available to common shareholders (ROE) ROTCE(6)

ROTCE (normalized for the preferred dividend)(7)

Profitability Measures (continuing operations) Excluding Noteworthy Items:

Gross yield(2)

Net yield(3)

Net finance margin (net finance revenue as a percentage of AEA)(1)

Net efficiency ratio(5)

Return on average earning assets available to common shareholders (ROA)

Return on average common stockholders' equity available to common shareholders (ROE)

ROTCE(6)

ROTCE (normalized for the preferred dividend)(7)

Capital & Leverage:

Risk-weighted assets$ CET1 capital

Tier 1 capital

Total capital

CET1 capital ratio

Tier 1 capital ratio

Total capital ratio

Tier 1 leverage ratio

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

36,301.6

$

37,109.8

$

36,493.6

$

30,015.0

$

30,071.2

$

29,775.5

$

28,644.8

7,824.4

7,602.1

7,416.1

7,225.6

7,062.1

7,075.6

7,738.7

44,126.0

44,711.9

43,909.7

37,240.6

37,133.3

36,851.1

36,383.5

42,146.3

42,646.3

41,753.9

35,081.2

34,797.5

34,378.9

32,019.0

57,768.0

57,589.0

53,684.7

46,503.7

46,244.8

46,267.2

45,214.4

57,768.0

57,589.0

53,684.7

46,503.7

46,244.8

46,267.2

45,214.4

5,223.0

5,291.2

5,922.3

5,766.9

5,630.4

5,653.8

6,211.1

5,223.0

5,291.2

5,922.3

5,766.9

5,630.4

5,653.8

6,211.1

4,927.9

4,987.3

5,268.1

5,327.5

5,167.0

5,176.2

5,740.1

4,927.9

4,987.3

5,268.1

5,327.5

5,167.0

5,176.2

5,740.1

4.32%

4.50%

5.39%

5.99%

6.19%

6.21%

6.41%

3.42%

3.55%

4.41%

4.99%

5.17%

5.16%

5.21%

2.27%

2.14%

2.73%

3.01%

3.06%

3.10%

3.41%

60.6%

76.6%

65.6%

54.8%

63.8%

58.2%

54.6%

0.57%

NM

NM

1.04%

1.24%

1.10%

1.00%

6.35%

NM

NM

8.40%

10.14%

9.03%

7.30%

7.24%

NM

NM

9.41%

11.39%

10.20%

8.20%

6.86%

NM

NM

9.76%

11.03%

10.20%

8.20%

4.32%

4.50%

5.39%

5.99%

6.19%

6.21%

6.41%

3.42%

3.55%

4.41%

4.99%

5.17%

5.16%

5.16%

2.27%

2.14%

2.73%

3.01%

3.06%

3.10%

3.35%

60.4%

71.8%

62.2%

54.8%

57.5%

56.6%

54.6%

0.57%

NM

NM

1.04%

1.06%

1.06%

1.06%

6.33%

NM

NM

8.40%

8.70%

8.67%

7.72%

7.22%

NM

NM

9.41%

9.82%

9.81%

8.66%

6.84%

NM

NM

9.76%

9.46%

9.81%

8.66%

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

51,899.5

$

50,730.3

$

52,973.0

$

45,262.0

$

46,102.8

$

45,262.0

$

44,051.7

5,120.2

5,051.4

5,158.1

5,444.4

5,342.9

5,444.4

5,278.2

5,645.1

5,576.4

5,682.9

5,969.3

5,660.4

5,969.3

5,592.7

6,792.1

6,708.4

6,842.3

6,983.3

6,584.7

6,983.3

6,519.3

9.9%

10.0%

9.7%

12.0%

11.6%

12.0%

12.0%

10.9%

11.0%

10.7%

13.2%

12.3%

13.2%

12.7%

13.1%

13.2%

12.9%

15.4%

14.3%

15.4%

14.8%

9.2%

9.2%

9.8%

11.9%

11.3%

11.9%

11.7%

(1)See Non-GAAP Disclosures.

(2)Gross Yield includes Interest Income plus Rental Income as a % of AEA.

(3)Net Yield includes lnterest Income plus Rental Income less Depreciation and Maintenance & operating lease expenses as a % of AEA.

(4)Excludes restructuring costs and intangible asset amortization.

(5)Ratio of operating expenses (excluding restructuring costs and intangible asset amortization) to Total Net Revenues (see Non-GAAP disclosures).

(6)Return on average tangible common equity is adjusted to remove the impact of intangible asset amortization, goodwill impairment and the impact from valuation allowance reversals from income from continuing operations, while the average tangible common equity is reduced for disallowed deferred tax assets.

  1. ROTCE is adjusted to reflect the preferred dividend as if the impact is recorded quarterly, instead of semiannually, which may assist in the sequential comparison of results. In addition, in order to assist in comparability to other quarters, we further adjusted the calculation due to noteworthy items. Return on average tangible common equity is another metric used to evaluate our use of equity and evaluate the performance of our business.

CIT Group Inc. Commercial Banking (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Income Statement

Interest income

$

306.7

$

324.5

$

367.9

$

345.6

$

358.5

$

1,425.7

$

1,333.0

Rental income on operating leases

201.3

200.9

209.8

215.3

211.7

857.7

1,009.0

Finance revenue

508.0

525.4

577.7

560.9

570.2

2,283.4

2,342.0

Interest expense

105.3

135.5

163.5

176.3

189.0

758.3

716.3

Depreciation on operating lease equipment

82.5

81.1

78.3

76.4

76.0

308.6

311.1

Maintenance and other operating lease expenses

48.6

56.1

53.6

40.7

41.9

180.7

230.4

Net finance revenue

271.6

252.7

282.3

267.5

263.3

1,035.8

1,084.2

Provision for credit losses

87.9

214.7

508.9

24.6

27.1

117.3

167.1

Other non-interest income

89.6

77.2

87.3

88.6

80.3

331.6

320.8

Goodwill impairment

-

-

301.5

-

-

-

-

Operating expenses

196.7

201.2

213.3

170.3

172.0

701.5

692.9

Income (loss) from continuing operations before taxes

$

76.6

$

(86.0)

$

(654.1)

$

161.2

$

144.5

$

548.6

$

545.0

Average Loans and Leases

Commercial Finance

$

15,635.5

$

16,133.2

$

15,516.0

$

13,391.1

$

13,374.1

$

13,160.7

$

12,180.7

Business Capital

5,225.9

5,296.5

5,301.3

5,221.5

5,209.7

5,147.6

4,731.5

Rail

7,137.2

7,000.4

6,843.7

6,675.9

6,548.5

6,554.7

7,345.0

Real Estate Finance

7,728.4

7,652.0

7,611.4

5,303.9

5,351.1

5,352.2

5,491.7

Commercial Banking Average Loans and Leases

$

35,727.0

$

36,082.1

$

35,272.4

$

30,592.4

$

30,483.4

$

30,215.2

$

29,748.9

Average Earning Assets ("AEA")

Commercial Finance

$

15,709.9

$

16,224.7

$

15,609.2

$

13,480.7

$

13,468.7

$

13,253.2

$

12,293.1

Business Capital

5,236.0

5,316.3

5,318.7

5,238.4

5,231.1

5,165.9

4,754.0

Rail

7,194.8

7,058.9

6,867.4

6,693.4

6,557.3

6,588.7

7,462.8

Real Estate Finance

7,728.4

7,652.0

7,611.4

5,303.9

5,351.1

5,352.2

5,491.7

Commercial Banking Average Earnings Assets

$

35,869.1

$

36,251.9

$

35,406.7

$

30,716.4

$

30,608.2

$

30,360.0

$

30,001.6

Gross Yield(1)

Commercial Finance

4.14%

4.33%

5.20%

5.79%

6.06%

6.09%

6.06%

Business Capital

9.11%

8.95%

9.21%

9.53%

9.39%

9.52%

9.49%

Rail

8.68%

8.92%

9.76%

10.40%

10.47%

10.54%

11.24%

Real Estate Finance

3.62%

3.84%

4.45%

5.03%

5.36%

5.41%

5.59%

Commercial Banking Gross Yield

5.67%

5.80%

6.53%

7.30%

7.45%

7.52%

7.81%

Net Finance Margin

Commercial Finance

3.10%

2.90%

3.35%

3.11%

3.14%

3.15%

3.17%

Business Capital

5.45%

5.12%

5.33%

5.60%

5.38%

5.43%

5.42%

Rail

1.39%

1.01%

1.78%

3.06%

2.94%

2.77%

3.55%

Real Estate Finance

2.78%

2.58%

2.62%

2.86%

2.93%

2.88%

3.13%

Commercial Banking Net Finance Margin

3.03%

2.79%

3.19%

3.48%

3.44%

3.41%

3.61%

Select Metric

Net yield

4.20%

4.28%

5.04%

5.78%

5.91%

5.91%

6.03%

Pre-tax Income ROAEA

0.85%

NM

NM

2.10%

1.89%

1.81%

1.82%

  1. Gross Yield includes Interest Income plus Rental Income as a % of AEA.

CIT Group Inc. Consumer Banking (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Income Statement

Interest income

$

90.3

$

93.9

$

101.6

$

85.1

$

90.5

$

364.9

$

338.9

Interest expense

(5.9)

5.5

(10.1)

(25.4)

(25.7)

(125.3)

(143.5)

Net finance revenue ("NFR")

96.2

88.4

111.7

110.5

116.2

490.2

482.4

Provision for credit losses

(24.6)

8.9

5.0

(2.0)

(0.5)

(6.5)

3.9

Other non-interest income

30.9

2.7

14.0

15.9

6.3

33.8

35.0

Goodwill impairment

-

-

43.2

-

-

-

-

Operating expenses

94.9

101.4

102.1

79.2

83.8

345.0

369.3

Income (loss) from continuing operations before taxes

$

56.8

$

(19.2)

$

(24.6)

$

49.2

$

39.2

$

185.5

$

144.2

Average Loans and Leases

Consumer and Community Banking

$

6,419.3

$

6,564.2

$

6,481.5

$

4,488.8

$

4,314.1

$

4,163.7

$

3,207.1

Legacy Consumer Mortgages

1,979.7

2,065.6

2,155.8

2,158.8

2,330.1

2,462.0

3,388.2

Consumer Banking Average Loans and Leases

$

8,399.0

$

8,629.8

$

8,637.3

$

6,647.6

$

6,644.2

$

6,625.7

$

6,595.3

Average Earning Assets ("AEA")

Consumer and Community Banking

$

6,446.9

$

6,592.7

$

6,509.9

$

4,510.0

$

4,332.1

$

4,180.6

$

3,215.5

Legacy Consumer Mortgages

1,979.7

2,065.6

2,155.8

2,158.8

2,330.1

2,463.9

3,465.2

Consumer Banking Average Loans and Leases

$

8,426.6

$

8,658.3

$

8,665.7

$

6,668.8

$

6,662.2

$

6,644.5

$

6,680.7

Gross Yield(1)

Consumer and Community Banking

3.04%

3.18%

3.53%

3.46%

3.63%

3.63%

3.66%

Legacy Consumer Mortgages

8.32%

8.05%

8.20%

8.56%

8.78%

8.65%

6.38%

Consumer Banking Gross Yield

4.28%

4.34%

4.69%

5.11%

5.43%

5.49%

5.07%

Net Finance Margin

Consumer and Community Banking

3.74%

3.24%

4.67%

6.54%

7.00%

7.82%

10.56%

Legacy Consumer Mortgages

7.25%

6.79%

6.61%

6.81%

6.91%

6.63%

4.12%

Consumer Banking Net Finance Margin

4.57%

4.09%

5.15%

6.63%

6.97%

7.38%

7.22%

Select Metric

Net yield

4.28%

4.34%

4.69%

5.11%

5.43%

5.49%

5.07%

Pre-tax Income ROAEA

2.70%

NM

NM

2.95%

2.35%

2.79%

2.16%

  1. Gross Yield includes Interest Income plus Rental Income as a % of AEA.

CIT Group Inc. Corporate (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Income Statement

Interest income

$

26.3

$

28.5

$

44.1

$

50.7

$

54.4

$

226.2

$

218.5

Interest expense

66.1

61.5

72.3

78.9

80.6

319.0

242.3

Net finance revenue ("NFR")

(39.8)

(33.0)

(28.2)

(28.2)

(26.2)

(92.8)

(23.8)

Other non-interest income

25.5

22.7

29.3

6.8

14.4

49.8

18.0

Operating expenses - including (gain) loss on debt extinguishment

3.9

43.0

19.0

9.1

55.1

67.2

46.4

Loss from continuing operations before taxes

$

(18.2)

$

(53.3)

$

(17.9)

$

(30.5)

$

(66.9)

$

(110.2)

$

(52.2)

Select Metrics

Average Loans and Leases

$

-

$

-

$

-

$

0.6

$

5.7

$

10.2

$

39.3

Average Earning Assets ("AEA")

$

13,472.3

$

12,678.8

$

9,612.3

$

9,118.5

$

8,974.4

$

9,262.7

$

8,532.1

Gross Yield(1)

0.78%

0.89%

1.84%

2.23%

2.43%

2.44%

2.56%

Net Finance Margin

(1.18%)

(1.05%)

(1.17%)

(1.23%)

(1.17%)

(1.00%)

(0.28%)

Pre-tax Income ROAEA

NM

NM

NM

NM

NM

NM

NM

  1. Gross Yield includes Interest Income plus Rental Income as a % of AEA.

CIT Group Inc.

Earning Assets - by Division (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Commercial Banking

Commercial Finance

Loans

$

16,644.5

$

16,194.3

$

17,193.3

$

13,912.8

$

14,426.9

$

13,912.8

$

13,958.1

Operating lease equipment, net

390.9

401.4

319.1

332.8

344.8

332.8

321.6

Assets held for sale

35.4

48.1

22.1

6.8

69.8

6.8

9.7

Total loans and leases

17,070.8

16,643.8

17,534.5

14,252.4

14,841.5

14,252.4

14,289.4

Interest bearing cash

6.6

9.0

10.9

11.1

12.6

11.1

19.3

Investment securities

55.1

68.2

78.3

79.0

78.9

79.0

77.1

Credit balances on factoring receivables

(1,320.2)

(989.1)

(1,023.7)

(1,176.2)

(1,238.4)

(1,176.2)

(1,674.4)

Earning assets

$

15,812.3

$

15,731.9

$

16,600.0

$

13,166.3

$

13,694.6

$

13,166.3

$

12,711.4

Business Capital

Loans

$

4,870.2

$

5,005.7

$

5,051.8

$

5,038.5

$

5,000.9

$

5,038.5

$

4,821.9

Operating lease equipment, net

335.3

337.7

316.8

280.9

229.5

280.9

227.5

Assets held for sale

-

-

-

-

5.5

-

8.9

Total loans and leases

5,205.5

5,343.4

5,368.6

5,319.4

5,235.9

5,319.4

5,058.3

Interest bearing cash

11.9

8.7

19.4

15.8

23.7

15.8

15.0

Earning assets

$

5,217.4

$

5,352.1

$

5,388.0

$

5,335.2

$

5,259.6

$

5,335.2

$

5,073.3

Rail

Loans

$

60.7

$

59.5

$

60.7

$

59.6

$

63.2

$

59.6

$

83.7

Operating lease equipment, net

7,073.1

7,039.0

6,852.2

6,706.0

6,525.6

6,706.0

6,421.5

Assets held for sale

0.1

0.1

0.4

0.4

1.9

0.4

-

Total loans and leases

7,133.9

7,098.6

6,913.3

6,766.0

6,590.7

6,766.0

6,505.2

Interest bearing cash

32.0

62.8

2.6

25.8

16.0

25.8

85.5

Earning assets

$

7,165.9

$

7,161.4

$

6,915.9

$

6,791.8

$

6,606.7

$

6,791.8

$

6,590.7

Real Estate Finance

Loans

$

7,669.2

$

7,713.4

$

7,716.9

$

5,382.5

$

5,267.8

$

5,382.5

$

5,399.7

Assets held for sale

-

6.6

25.8

15.9

16.4

15.9

45.7

Total loans and leases

7,669.2

7,720.0

7,742.7

5,398.4

5,284.2

5,398.4

5,445.4

Earning assets

$

7,669.2

$

7,720.0

$

7,742.7

$

5,398.4

$

5,284.2

$

5,398.4

$

5,445.4

Total Commercial Banking

Loans

$

29,244.6

$

28,972.9

$

30,022.7

$

24,393.4

$

24,758.8

$

24,393.4

$

24,263.4

Operating lease equipment, net

7,799.3

7,778.1

7,488.1

7,319.7

7,099.9

7,319.7

6,970.6

Assets held for sale

35.5

54.8

48.3

23.1

93.6

23.1

64.3

Total loans and leases

37,079.4

36,805.8

37,559.1

31,736.2

31,952.3

31,736.2

31,298.3

Interest bearing cash

50.5

80.5

32.9

52.7

52.3

52.7

119.8

Investment securities

55.1

68.2

78.3

79.0

78.9

79.0

77.1

Credit balances on factoring receivables

(1,320.2)

(989.1)

(1,023.7)

(1,176.2)

(1,238.4)

(1,176.2)

(1,674.4)

Earning assets

$

35,864.8

$

35,965.4

$

36,646.6

$

30,691.7

$

30,845.1

$

30,691.7

$

29,820.8

Consumer Banking

Consumer and Community Banking

Loans

$

6,205.3

$

6,522.8

$

6,415.3

$

4,524.0

$

4,407.7

$

4,524.0

$

3,744.5

Assets held for sale

17.0

24.1

21.1

7.4

18.7

7.4

3.9

Total loans and leases

6,222.3

6,546.9

6,436.4

4,531.4

4,426.4

4,531.4

3,748.4

Investment securities

26.5

29.3

28.6

26.0

18.5

26.0

11.3

Earning assets

$

6,248.8

$

6,576.2

$

6,465.0

$

4,557.4

$

4,444.9

$

4,557.4

$

3,759.7

Legacy Consumer Mortgages

Loans

$

1,869.7

$

2,022.6

$

2,092.4

$

2,081.5

$

2,179.0

$

2,081.5

$

2,787.5

Assets held for sale

4.2

3.8

3.8

1.5

53.4

1.5

-

Total loans and leases

1,873.9

2,026.4

2,096.2

2,083.0

2,232.4

2,083.0

2,787.5

Indemnification assets

-

-

-

-

-

-

10.8

Earning assets

$

1,873.9

$

2,026.4

$

2,096.2

$

2,083.0

$

2,232.4

$

2,083.0

$

2,798.3

Total Consumer Banking

Loans

$

8,075.0

$

8,545.4

$

8,507.7

$

6,605.5

$

6,586.7

$

6,605.5

$

6,532.0

Assets held for sale

21.2

27.9

24.9

8.9

72.1

8.9

3.9

Total loans and leases

8,096.2

8,573.3

8,532.6

6,614.4

6,658.8

6,614.4

6,535.9

Indemnification assets

-

-

-

-

-

-

10.8

Investment securities

26.5

29.3

28.6

26.0

18.5

26.0

11.3

Earning assets

$

8,122.7

$

8,602.6

$

8,561.2

$

6,640.4

$

6,677.3

$

6,640.4

$

6,558.0

Corporate

Total loans and leases

$

-

$

-

$

-

$

0.1

$

3.5

$

0.1

$

20.2

Interest bearing cash

6,479.4

7,818.2

3,444.9

1,642.8

1,565.0

1,642.8

1,477.0

Securities purchased under agreements to resell

-

100.0

-

950.0

2,000.0

950.0

400.0

Investment securities

6,527.2

5,559.0

6,021.7

6,171.8

6,012.3

6,171.8

6,145.4

Total earning assets

$

13,006.6

$

13,477.2

$

9,466.6

$

8,764.7

$

9,580.8

$

8,764.7

$

8,042.6

Total

Loans

$

37,319.6

$

37,518.3

$

38,530.4

$

30,998.9

$

31,345.5

$

30,998.9

$

30,795.4

Operating lease equipment, net

7,799.3

7,778.1

7,488.1

7,319.7

7,099.9

7,319.7

6,970.6

Assets held for sale

56.7

82.7

73.2

32.1

169.2

32.1

88.4

Total loans and leases

45,175.6

45,379.1

46,091.7

38,350.7

38,614.6

38,350.7

37,854.4

Interest bearing cash

6,529.9

7,898.7

3,477.8

1,695.5

1,617.3

1,695.5

1,596.8

Securities purchased under agreements to resell

-

100.0

-

950.0

2,000.0

950.0

400.0

Investment securities

6,608.8

5,656.5

6,128.6

6,276.8

6,109.7

6,276.8

6,233.8

Indemnification assets

-

-

-

-

-

-

10.8

Credit balances on factoring receivables

(1,320.2)

(989.1)

(1,023.7)

(1,176.2)

(1,238.4)

(1,176.2)

(1,674.4)

Earning assets

$

56,994.1

$

58,045.2

$

54,674.4

$

46,096.8

$

47,103.2

$

46,096.8

$

44,421.4

CIT Group Inc.

Average Earning Assets - by Division (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Commercial Banking

Commercial Finance

Loans

$

16,430.5

$

16,737.0

$

16,536.6

$

14,369.8

$

14,301.1

$

14,274.2

$

13,392.9

Operating lease equipment, net

402.3

324.7

329.0

354.0

347.0

346.9

281.4

Assets held for sale

46.9

27.1

15.1

44.8

65.6

46.4

76.6

Total loans and leases

16,879.7

17,088.8

16,880.7

14,768.6

14,713.7

14,667.5

13,750.9

Interest bearing cash

10.5

11.6

13.7

10.8

15.4

13.6

19.8

Investment securities

63.9

79.9

79.5

78.8

79.2

78.9

92.6

Credit balances on factoring receivables

(1,244.2)

(955.6)

(1,364.7)

(1,377.5)

(1,339.5)

(1,506.8)

(1,570.1)

Average earning assets

$

15,709.9

$

16,224.7

$

15,609.2

$

13,480.7

$

13,468.8

$

13,253.2

$

12,293.2

Business Capital

Loans

$

4,887.0

$

4,967.5

$

5,006.6

$

4,972.5

$

4,978.3

$

4,905.7

$

4,499.7

Operating lease equipment, net

338.9

329.0

294.7

248.4

222.5

230.9

225.0

Assets held for sale

-

-

-

0.6

8.8

11.0

6.7

Total loans and leases

5,225.9

5,296.5

5,301.3

5,221.5

5,209.6

5,147.6

4,731.4

Interest bearing cash

10.1

19.8

17.4

16.9

21.4

18.3

22.5

Average earning assets

$

5,236.0

$

5,316.3

$

5,318.7

$

5,238.4

$

5,231.0

$

5,165.9

$

4,753.9

Rail

Loans

$

54.0

$

52.0

$

52.5

$

54.8

$

57.6

$

57.8

$

82.9

Operating lease equipment, net

7,083.2

6,948.0

6,790.8

6,620.5

6,490.9

6,496.7

6,325.1

Assets held for sale

-

0.4

0.4

0.6

-

0.2

937.0

Total loans and leases

7,137.2

7,000.4

6,843.7

6,675.9

6,548.5

6,554.7

7,345.0

Interest bearing cash

57.6

58.5

23.7

17.5

8.8

34.0

117.8

Average earning assets

$

7,194.8

$

7,058.9

$

6,867.4

$

6,693.4

$

6,557.3

$

6,588.7

$

7,462.8

Real Estate Finance

Loans

$

7,722.1

$

7,639.6

$

7,581.3

$

5,287.5

$

5,331.5

$

5,322.4

$

5,472.2

Assets held for sale

6.3

12.4

30.1

16.4

19.6

29.8

19.5

Total loans and leases

7,728.4

7,652.0

7,611.4

5,303.9

5,351.1

5,352.2

5,491.7

Average earning assets

$

7,728.4

$

7,652.0

$

7,611.4

$

5,303.9

$

5,351.1

$

5,352.2

$

5,491.7

Total Commercial Banking

Loans

$

29,093.6

$

29,396.1

$

29,177.0

$

24,684.6

$

24,668.5

$

24,560.1

$

23,447.7

Operating lease equipment, net

7,824.4

7,601.7

7,414.5

7,222.9

7,060.4

7,074.5

6,831.5

Assets held for sale

53.2

39.9

45.6

62.4

94.0

87.4

1,039.8

Total loans and leases

36,971.2

37,037.7

36,637.1

31,969.9

31,822.9

31,722.0

31,319.0

Interest bearing cash

78.2

89.9

54.8

45.2

45.6

65.9

160.1

Investment securities

63.9

79.9

79.5

78.8

79.2

78.9

92.6

Credit balances on factoring receivables

(1,244.2)

(955.6)

(1,364.7)

(1,377.5)

(1,339.5)

(1,506.8)

(1,570.1)

Average earning assets

$

35,869.1

$

36,251.9

$

35,406.7

$

30,716.4

$

30,608.2

$

30,360.0

$

30,001.6

Consumer Banking

Consumer and Community Banking

Loans

$

6,380.1

$

6,538.3

$

6,470.7

$

4,462.6

$

4,302.3

$

4,150.8

$

3,199.3

Assets held for sale

39.2

25.9

10.8

26.2

11.8

12.9

7.8

Total loans and leases

6,419.3

6,564.2

6,481.5

4,488.8

4,314.1

4,163.7

3,207.1

Investment securities

27.6

28.5

28.4

21.2

18.0

16.9

8.4

Average earning assets

$

6,446.9

$

6,592.7

$

6,509.9

$

4,510.0

$

4,332.1

$

4,180.6

$

3,215.5

Legacy Consumer Mortgages

Loans

$

1,958.8

$

2,061.8

$

2,139.8

$

2,129.7

$

2,323.3

$

2,451.0

$

3,056.3

Assets held for sale

20.9

3.8

16.0

29.1

6.8

11.0

331.9

Total loans and leases

1,979.7

2,065.6

2,155.8

2,158.8

2,330.1

2,462.0

3,388.2

Indemnification assets

-

-

-

-

-

1.9

77.0

Average earning assets

$

1,979.7

$

2,065.6

$

2,155.8

$

2,158.8

$

2,330.1

$

2,463.9

$

3,465.2

Total Consumer Banking

Loans

$

8,338.9

$

8,600.1

$

8,610.5

$

6,592.3

$

6,625.6

$

6,601.8

$

6,255.6

Assets held for sale

60.1

29.7

26.8

55.3

18.6

23.9

339.7

Total loans and leases

8,399.0

8,629.8

8,637.3

6,647.6

6,644.2

6,625.7

6,595.3

Indemnification assets

-

-

-

-

-

1.9

77.0

Investment securities

27.6

28.5

28.4

21.2

18.0

16.9

8.4

Average earning assets

$

8,426.6

$

8,658.3

$

8,665.7

$

6,668.8

$

6,662.2

$

6,644.5

$

6,680.7

Corporate

Total loans and leases

$

-

$

-

$

-

$

0.6

$

5.7

$

10.2

$

39.3

Interest bearing cash

7,573.9

7,020.8

1,762.3

1,358.5

1,332.6

1,623.9

2,239.5

Securities purchased under agreements to resell

82.6

56.0

751.1

1,701.7

1,363.0

1,174.1

242.3

Investment securities

5,815.8

5,602.0

7,098.9

6,057.7

6,273.1

6,454.5

6,011.0

Average earning assets

$

13,472.3

$

12,678.8

$

9,612.3

$

9,118.5

$

8,974.4

$

9,262.7

$

8,532.1

Total

Loans

$

37,432.5

$

37,996.2

$

37,787.9

$

31,276.2

$

31,294.1

$

31,161.3

$

29,703.3

Operating lease equipment, net

7,824.4

7,601.7

7,414.5

7,222.9

7,060.4

7,074.5

6,831.5

Assets held for sale

113.3

69.6

72.0

119.0

118.3

122.1

1,418.8

Total loans and leases

45,370.2

45,667.5

45,274.4

38,618.1

38,472.8

38,357.9

37,953.6

Interest bearing cash

7,652.1

7,110.7

1,817.1

1,403.7

1,378.2

1,689.8

2,399.6

Securities purchased under agreements to resell

82.6

56.0

751.1

1,701.7

1,363.0

1,174.1

242.3

Investment securities

5,907.3

5,710.4

7,206.8

6,157.7

6,370.3

6,550.3

6,112.0

Indemnification assets

-

-

-

-

-

1.9

77.0

Credit balances on factoring receivables

(1,244.2)

(955.6)

(1,364.7)

(1,377.5)

(1,339.5)

(1,506.8)

(1,570.1)

Average earning assets

$

57,768.0

$

57,589.0

$

53,684.7

$

46,503.7

$

46,244.8

$

46,267.2

$

45,214.4

CIT Bank

Select Financial Data (dollars in millions)

Certain balances may not sum due to rounding.

3Q20

2Q20

1Q20

4Q19

3Q19

2019

2018

Balance Sheet

Assets

Cash and deposits with banks

$

6,488.5

$

7,883.9

$

3,483.3

$

2,425.2

$

1,460.1

$

2,425.2

$

1,412.9

Securities purchased under agreement to resell

-

100.0

-

950.0

2,000.0

950.0

300.0

Investment securities

6,591.9

5,640.8

6,116.0

6,264.9

6,097.8

6,264.9

6,222.6