CIT Reports First Quarter 2016 Net Income of $147 Million ($0.73 Per Diluted Share); Income from Continuing Operations of $152 Million ($0.75 Per Diluted Share)

Conference Call and Audio Webcast Scheduled for 8:00 AM EST

Results Include After-Tax Charges of $76 million ($0.38) Per Diluted Share Related to Strategic Initiatives and Restructuring Charges – Completed sale of Brazil business, streamlined senior management structure and recognized a tax benefit on a previously sold international portfolio;

Conference Call and Audio Webcast Scheduled for 8:00 AM EST

Income from Continuing Operations of $697 Million ($3.63 Per Diluted Share)

Conference Call and Audio Webcast Scheduled for 8:00 AM EST

Previously Announced OneWest Bank Acquisition Expected to Close on August 3, 2015 – Received regulatory approvals; creates financial holding company with more than $65 billion in assets;