First Citizens Bank Products Focus on Doctors' Financial Needs

June 28, 1999

RALEIGH, N.C. — First Citizens Bank, recognizing that medical professionals have distinct business and personal banking needs, is continuing to develop special products specifically for doctors.

The latest product introduced is a new credit card created for physicians and dentists. The new Platinum Card features a low rate of prime plus 2.95 percent annual percentage rate (not an introductory rate), no annual fee and 1,500 free frequent flier miles with enrollment in the CardMiles program. The card also features the caduceus medical symbol in the background.

The medical programs are indicative of First Citizens' commitment to serving small and mid-sized businesses.

"First Citizens Bank recognizes that many of our medical professionals run fairly unique operations," said Wayne Duncan, executive vice president with First Citizens. "We've committed to gaining a full understanding of both their business and personal financial needs and providing the products and services to meet those needs."

First Citizens' products for the medical community also include a commercial loan program for physicians and dentists that gives bankers the flexibility to explore a number of options to meet the financial needs of the medical community.

The commercial loan program for physicians and dentists has: a leasing option for medical equipment, competitive rates for loans, a flexible loan-to-value ratio, longer terms and a flexible amortization schedule and financing for medical practice buy-in. The commercial loans also offer doctors the opportunity to take advantage of an expanded range of options for retail consumer loans including residential mortgages.

First Citizens operates more than 360 branches in more than 208 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has more than $9.7 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. The Bank's Year 2000 (Y2K) preparedness strategy has been in place since 1996 and is right on schedule. For more information on the Bank's Year 2000 program, call toll free 1-877-Y2K-4-FCB (1-877-925-4322), visit www.firstcitizens.com.

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