CIT Commercial Services Provides $100 Million in Financing to Wiesner Products, Inc.

NEW YORK, N.Y. — Feb. 20, 2025 — First Citizens Bank today announced that CIT Commercial Services has provided $100 million in financing to Wiesner Products, Inc., a leading designer, importer, and distributor of men’s, women’s, and children’s apparel and accessories.

Wiesner Products, located in New York, supplies licensed and private-label clothing and accessories brands to leading retailers such as Ross Stores, TJX Companies, Burlington, Five Below, Walmart, Target, and Amazon. Wiesner aims for strategic growth through acquisitions and addition of new product categories that improve its product range and market reach.

“We are excited to offer this financing solution to support Wiesner Products’ expansion and operational needs,” said Mike Hudgens, president of CIT Commercial Services. “Our expertise in factoring allows us to deliver tailored financial solutions that help companies like Wiesner maximize liquidity and drive growth.”

“This financing strengthens our financial position and gives us the flexibility needed to execute our strategic plans,” said Charles Mizrahi, president of Wiesner Products. “CIT Commercial Services and First Citizens Bank’s extensive industry knowledge and tailored factoring solutions make them an ideal partner as we continue expanding our market reach.”

CIT Commercial Services, a subsidiary of First Citizens Bank, is one of the nation's leading providers of factoring, credit protection, accounts receivable management, supply chain finance, and lending services to domestic middle-market companies.

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 more than 500 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 $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

MEDIA RELATIONS:

Ella Bristow

(212) 461-5322

Ella.bristow@firstcitizens.com