CIT Northbridge Provides $25 Million Credit Facility to Huron Valley Steel Corporation

NEW YORK, N.Y. — June 9, 2026 — CIT Northbridge today announced it has provided a $25 million secured credit facility to Huron Valley Steel Corporation (HVSC), a leading recycling processor of shredded nonferrous mixed metals.

Headquartered in Trenton, MI, Huron Valley Steel Corporation specializes in recovering and separating nonferrous metals from the nonferrous mix generated by automobile shredders. Founded in 1961, the company operates two recycled metal processing and sortation facilities in Belleville, MI and Anniston, AL.

“Sustainable resource management and conservation is becoming increasingly crucial,” said Dennis Reno, President of Huron Valley Steel Corporation. “This financing will enable us to further scale our business and process increasing volumes of material from automobile shredder operators, continuing to recover high-grade aluminum and other nonferrous metals that are integral to a circular economy.”

“Huron Valley Steel Corporation has built a reputation as a leading nonferrous metals processor utilizing proprietary and innovative technologies,” said Neal Legan, Business Leader, CIT Northbridge. “We are excited to provide this financing and continue to support HVSC’s commitment to increasing domestic metal recovery and preserving natural resources.”

CIT Northbridge is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by First Citizens Institutional Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender.

About CIT Northbridge
CIT Northbridge is a joint venture advised by First Citizens Institutional Asset Management. First Citizens Institutional Asset Management is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not in any way constitute an endorsement by the SEC of an investment adviser’s skill or expertise. Moreover, registration does not imply that a registered adviser has achieved a certain level of skill, competency, sophistication, expertise, or training in providing advisory services to its clients. First Citizens Institutional Asset Management is a wholly owned subsidiary of CIT Loan Corporation, which is in turn a wholly owned subsidiary of First Citizens Bank & Trust Company.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

MEDIA RELATIONS:
Name: Katie Ellis
Email: katie.ellis@firstcitizens.com