First Citizens Number One in Fourth Quarter 2001 SBA loans

March 29, 2002

RALEIGH, N.C. - First Citizens Bank ranked number one in North Carolina for Small Business Administration (SBA) loan volume for the fourth quarter of 2001.

During the fourth quarter, the bank helped 17 small businesses in the state obtain capital under the SBA program that backs loans to encourage small business growth and entrepreneurship. Total dollar amount for the loans was $2.3 million.

"First Citizens knows that small businesses are a driving force in the communities we serve," said First Citizens President Frank Holding Jr. "They serve as a catalyst for growth and innovation, and we're happy to be able to help them move forward."

First Citizens focuses on serving small and mid-sized companies, along with individual consumers. Holding said the bank is always looking for ways to help small businesses reach their financial goals. In addition to loan and deposit services, First Citizens offers many products to help small business operate more efficiently, including: business online banking, cash management, leasing, international banking, trust and investments and insurance services.

Holding noted that small businesses also benefit from building a strong relationship with their bank. "A good business banker is going to sit down with a company, regardless of its size, and work to understand its goals and its priorities," Holding said. "That kind of partnership can be extremely beneficial for a small business."

Founded in 1898, First Citizens operates 348 branches in 204 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $11.86 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 BancShares