IronStone Bank to Open New Austin Offices

December 11, 2002

AUSTIN - IronStone Bank continues its expansion with the opening of two new offices in downtown Austin on Monday, Dec. 16

IronStone Bank will open a full-service branch in the historic Tips Building, 710 Congress Ave., which will serve as the bank’s administrative headquarters and main office in Austin. A downtown motor bank also will open at 814 San Jacinto Blvd. that features six drive-through lanes.

“The opening of these new offices represents our commitment to the community and a great business opportunity for our bank,” said IronStone Bank President Jay Parker. “Downtown Austin is a wonderful place with a vibrant work environment. We’re looking forward to being a good neighbor and serving customers from these two premier locations.”

With the opening of the two new offices, IronStone Bank will operate three branches in Austin, including the Balcones Centre location at 11149 Research Blvd., which opened in September.

The Tips Building will house a full-service branch, corporate and area executive management as well as key sales personnel. IronStone Bank offices are located on the first floor of the landmark building, which was constructed in 1876 for Walter Tips & Company hardware.

Fred White, who has 40 years of banking experience, is IronStone Bank’s area executive for the Austin market. Market Executive Mary Garza, with 20 years of banking experience in the Austin community, will manage the new main office and downtown motor bank.

The hours for the Austin main office are Monday through Thursday, 9 a.m. to 4 p.m., and Friday, 9 a.m. to 5 p.m. Hours for the downtown motor bank are Monday through Friday, 7:30 a.m. to 6 p.m. A drive-up ATM is available 24-hours-a-day.

IronStone Bank offers a complete line of business and consumer products. Businesses can choose IronStone Bank’s Business Quest checking account with an Investment Sweep and a no-fee business credit card. Among its many personal banking services, customers can get Free Checking accounts with overdraft protection and will not be charged IronStone Bank fees for using other banks’ ATMs.

IronStone Bank also provides personal and business online banking options at ironstonebank.com and toll-free telephone banking at 1-866-IB DIRECT (1-866-423-4732).

The bank’s Austin offices are the first to open. The bank has also announced it will open branches in Arizona and California.

In Arizona, IronStone Bank plans to open two branches in Scottsdale. The bank’s first Arizona office is expected to open in February 2003 at 7001 N. Scottsdale Road in the Scottsdale Seville Shopping Center. The bank is seeking regulatory approval to build a second office at the intersection of Northsight Boulevard and Raintree Drive near the Scottsdale Municipal Airport. This office is expected to open in the fourth quarter of 2003.

In California, IronStone Bank will open a branch at 835 Pearl St. in the La Jolla community of San Diego. The bank is also seeking regulatory approval to open an office at 8650 Genesee Ave. in the Costa Verde Shopping Center in San Diego. The bank plans to renovate existing buildings at these locations and open in the second quarter of 2003.

For more information about IronStone Bank, visit the branch offices or the bank’s Web site, www.ironstonebank.com.

IronStone Bank associates are dedicated to building longstanding relationships with individual customers, small to mid-sized businesses, professionals and the medical community. The bank is a division of Atlantic States Bank, a federal savings bank with 39 offices in Georgia and Florida. Atlantic States is a subsidiary of First Citizens BancShares (Nasdaq: FCNCA), a $12.08 billion financial holding company based in Raleigh, N.C.

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