First Citizens Bank to Purchase RBC Centura Branches

July 9, 2002

RALEIGH, N.C. - First Citizens Bank has reached an agreement with RBC Centura Bank to acquire two of its North Carolina branches in Havelock and West Jefferson.

Under the agreement, First Citizens will purchase the loans and assume the deposits of RBC Centura's branches in Havelock, located at 207 W. Main St., and West Jefferson, located at 404 S. Jefferson Ave. The transaction is subject to regulatory approval.

The branches are in markets where First Citizens already has offices.

"The purchase of these offices will complement First Citizens' presence in both communities," said James B. Hyler Jr., vice chairman of First Citizens Bank. "We look forward to offering our financial expertise and amazing brand of service to a new group of customers."

First Citizens will offer employees in the acquired branches opportunities to remain with the bank.

Following regulatory approval, the transition of the accounts to First Citizens will take place in October.

Founded in 1898, First Citizens Bank operates 345 branches in 202 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $11.75 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 about First Citizens Bank and its services, visit firstcitizens.com or call toll-free 1-888-FC DIRECT (1-888-323-4732).

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