First Citizens Bank Ranks Among Nation's Top Small Business Lenders

December 17, 1999

RALEIGH, N.C. — First Citizens Bank has been named one of the top 50 small business lenders in the country in an analysis conducted by American Banker newspaper.

First Citizens entered the rankings for the first time this year at 40th place on a list dominated by much larger banks. The Raleigh-based bank easily took top honors for the largest percentage of loans dedicated to small businesses, with 90 percent of its business loan portfolio going to that category.

First Citizens Vice Chairman James B. Hyler Jr. said the bank has made a concerted effort in recent years to focus on the needs of small companies and earn their business.

"We have a substantial number of small businesses in our markets that can flourish when their banks treat them like they're in the Fortune 500," Hyler said. "At First Citizens, we give them that kind of treatment."

Hyler said the key to First Citizens' success with small businesses is personal service and a variety of products tailor-made for them.

"We want our bankers first to understand a customer's business and what the customer needs to make it grow," Hyler said. "Only then can we match them with the products and services that will help them reach their goals. We're building long-term, positive relationships, and our customers appreciate that."

Hyler said products like investment sweep accounts, internet banking, check imaging and electronic tax filing can help owners focus on running their businesses.

The American Banker rankings released Thursday analyzed banks' total outstanding small business loans — those of $1 million or less — on June 30. First Citizens had $773 million in small business loans outstanding, a 33 percent increase over the previous year.

First Citizens operates 361 branches in 205 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $9.58 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. The Bank has been working on its Year 2000 (Y2K) preparedness strategy since 1996 and is now ready for the Year 2000 date change. For more information on the Bank's Year 2000 program, call toll free 1-877-Y2K-4-FCB (1-877-925-4322), email us or visit our web site.

For more information, contact:
Barbara Thompson
(919) 716-2716
First Citizens Bank