First Citizens Bank Completes Purchase of Greensboro Insurance Services

July 5, 2000

RALEIGH, N.C. - First Citizens Bank has completed its acquisition of Greensboro Insurance Services, a general insurance agency in Greensboro. The bank entered into an agreement to purchase the agency in April.

The agency is now the newest office for First Citizens Insurance Services, which is headquartered in Raleigh. The bank's growing Insurance Services Division has agents in Charlotte, Goldsboro, Raleigh, Whiteville, Winston-Salem and now Greensboro.

"This acquisition will allow us to reach more customers in the Triad market," said H. Lee Hargrove, senior vice president, who manages First Citizens Insurance Services. "The employees in Greensboro have a reputation for putting customers first and will be a great complement to our company."

Greensboro Insurance Services' staff of 11 employees will remain intact, and the office will maintain its location at 1301 Wendover Ave.

First Citizens Insurance Services is comprised of insurance professionals representing a wide range of national and regional companies. The structure allows agents to comparison shop among various providers to offer customers the best coverage for the least cost. First Citizens offers a complete range of business and personal insurance products.

First Citizens operates 366 branches in more than 200 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $9.88 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, visit our web site or call toll-free 1-888-FC DIRECT (1-888-323-4732).

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