StockNews.AI
FCNCA
StockNews.AI
55 days

Merlo America LLC and First Citizens Bank Announce Comprehensive New Vendor Finance Agreement

1. First Citizens Bank Equipment Finance partners with Merlo America for financing solutions. 2. Agreement focuses on leasing and lending for agricultural and construction equipment. 3. Merlo America recognized for quality telehandlers and machinery in the industry. 4. Partnership aims to support small and mid-size businesses in equipment acquisition. 5. First Citizens Bank positions itself as a leader in financing solutions nationwide.

6m saved
Insight
Article

FAQ

Why Bullish?

The new vendor finance agreement can drive equipment sales and consequently enhance FCNCA's revenue streams, similar to previous financial partnerships that have positively impacted stock performance. For instance, when FCNCA engaged in partnerships that expanded its lending capabilities, it often resulted in stock price appreciation.

How important is it?

This partnership enhances First Citizens' market position and service offering, potentially driving customer acquisition and retention, which is crucial for FCNCA's growth. The collaboration could symbolize FCNCA's commitment to supporting varied customer needs within the agriculture and construction sectors.

Why Short Term?

In the short-term, the immediate effects of increased financing options may stimulate demand for Merlo's products, thus positively impacting FCNCA's revenue. If financing leads to a rapid increase in sales volume, quick metrics of success will be visible.

Related Companies

CATDECNHI
, /PRNewswire/ -- Merlo America LLC and First Citizens Bank Equipment Finance today announced a new vendor finance agreement that will provide Merlo customers with leasing and lending solutions to secure new construction and agricultural equipment. Headquartered in Rock Hill, South Carolina, Merlo America is the North American subsidiary of Italy-based Merlo S.p.A, a family-run industrial group that designs, produces and markets its own products under the "Merlo" and "TreEmme" brands. The parent company is a leading producer of multi-use telehandler and other machinery for agricultural, tree care, industrial and construction applications. "Our telehandlers and other equipment deliver enormous value to customers who prize quality, reliability and performance from their equipment," said Cole Renken, General Manager of Merlo America. "Our company is pleased to collaborate with First Citizens Bank Equipment Finance to provide our clients with outstanding financing options that will empower them to acquire the equipment needed to operate and grow their businesses," he continued. "Merlo America is widely recognized throughout the industry for its accomplishments in supplying top-quality telehandlers and other construction and agricultural equipment," said Harold Ray, who leads the construction group at First Citizens Bank Equipment Finance. "We look forward to a long and successful relationship with Merlo and its clients in providing financing options that best meet their business objectives." First Citizens Bank's Equipment Finance group empowers original equipment manufacturers, vendors and small and mid-size businesses by providing equipment financing solutions via a distinctive inside/outside sales coverage model, seasoned supporting staff, technology-enabled platforms and market-leading structuring expertise. About Merlo AmericaMerlo America represents Merlo Group, a global leader in telehandler technology and design. Headquartered in South Carolina, Merlo America delivers innovative solutions in material handling, forestry, construction and agriculture, designed and manufactured in Italy. With a product line focused on versatility, innovation and operator-efficiency, Merlo products, attachments and technologies are used in industries ranging from agriculture and construction to forestry and rental. Backed by a robust dealer network and dedicated support team, Merlo America is committed to helping U.S. end-users do more with confidence. See Where You Can Go with Merlo at MerloAmerica.com  About First Citizens BankFirst 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 $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com. MEDIA RELATIONS:John M. Moran212-461-5507[email protected] SOURCE First Citizens Bank WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News