First Citizens Bank Executives Reassure Customers on Y2K

July 14, 1999

RALEIGH, N.C. — First Citizens Bank customers took their Year 2000 questions directly to the bank's top executives Tuesday during a special Year 2000 call-in program.

The customers were able to speak with the bank's chief financial officer, chief information officer, legal counsel and others during the three-hour program, which was open to all bank customers in North Carolina, Virginia and West Virginia. Most of the more than 40 callers simply wanted know what the bank has done to prepare for the date change.

"This program reaffirmed for us that most of our customers are comfortable that their deposits are safe in the bank," said Ken Black, First Citizens' chief financial officer and Y2K project co-chair. "A small percentage of our customers have some concerns, but we find that when we take the time to share our Y2K messages with them, they are generally satisfied that we're well prepared for the date change."

First Citizens Bank has been working on its systems for the Year 2000 date change since 1996. The bank has successfully completed testing on 100 percent of its mission critical systems and has even tested 95 percent of its non-mission critical systems.

Products and services that are of most concern to the majority of bank customers were made a top priority and addressed early in the process, Black said. Systems that have completed testing include those that support savings and retirement accounts, checking accounts, direct deposits, credit cards, ATM cards, loan products and trust and investment services.

The bank has been communicating with its customers for about a year on Year 2000 issues, using statement stuffers, letters, brochures, business seminars, speeches, the internet, e-mail, a toll-free telephone line and information in its branches.

Joe Cooper, First Citizens Bank's chief information officer and Y2K project co-chair, has been speaking to groups around the state about the Year 2000 and said Tuesday's calls were typical of the routine questions that come up during the events.

"I find that there is a great deal of curiosity about how the banks are handling this issue, but most people understand and appreciate that we've put years of work and substantial resources toward preparing for this event," Cooper said. "For those who are uncertain, it's rewarding when you can talk directly to them about the bank's preparations and see their fears subside immediately."

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. 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