Atlantic States Bank, a First Citizens BancShares Subsidiary, Annouces Plans for Expansion into Scottsdale

June 12, 2002

RALEIGH, N.C. - Jim Pope, president of Atlantic States Bank, announced today that it plans to expand into the Scottsdale, Ariz., market.

Atlantic States is seeking regulatory approval to open in Scottsdale.

The office site is located at 7001 N. Scottsdale Road in the Scottsdale Seville Shopping Center. Atlantic States plans to renovate and open the office later this year.

Jay Parker, president of Atlantic States' western division, will announce members of the local management team in the coming months. The bank is in the process of finalizing the name for the western division. An announcement about the name will be made soon.

In April, Atlantic States announced plans to open two branches and a six-lane motor bank in Austin, Texas. Scottsdale is the western division's second market area.

Atlantic States focuses on serving individual customers, professionals and small to mid-sized businesses, a successful formula for its markets in Georgia and Florida. Atlantic States is a federal savings bank with 42 offices in Metro Atlanta, Southwest Florida, Southeast Florida and North Florida. For more information about Atlantic States Bank, call toll free 1-800-AS DIRECT (1-800-273-4732) or visit the Internet site at atlanticstatesbank.com.

First Citizens BancShares (Nasdaq: FCNCA) is an $11.75 billion financial holding company based in Raleigh, N.C. BancShares' two major subsidiaries are Atlantic States Bank and 104- year-old First Citizens Bank with 345 branches in North Carolina, Virginia and West Virginia.

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