Daily News Record, December 5th, 1989
C&S BUYS SECURITY FACTORING
NEW YORK (FNS) -- Citizens & Southern Commercial Corp. has completed its purchase of the factoring business of Security Pacific Business Credit Corp., making it the second largest factor in the nation.
C&S recently was doing about $4.6 billion a year in annual factoring volume and Security $1.5 billion. The combination will push total annual factoring business to more than $6 billion. CIT Group is the largest factor in the country with about $7.5 billion in annual volume.
Thomas Pizzo will continue to manage the ...
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