CIT Group, a national bank, agreed to acquire Mutual of Omaha Bank, a Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States, for $1bn. "Mutual of Omaha Bank has a talented and dedicated team that built a successful, vibrant institution. The integration of Mutual of Omaha Bank into CIT creates great opportunity to leverage the strengths of both institutions. This transaction allows Mutual of Omaha to focus on, and invest in, growth in its core insurance businesses," James Blackledge, Mutual of Omaha Chairman and CEO.