IronStone Bank Announces Plans for Expansion into Orange County

December 16, 2002

NEWPORT BEACH, Calif. - Jay Parker, president of IronStone Bank, today announced that the bank plans to expand into Orange County, Calif., in 2003.

The bank is seeking regulatory approval through the Office of Thrift Supervision to open a full-service branch in Newport Beach. The office, in the Dove Building at 1201 Dove St., is scheduled to open in the second quarter of 2003 following renovations.

“We’re looking forward to the opportunity to start developing relationships with the people and businesses of Orange County and delivering our customer-focused brand of banking in this community.” Parker said.

Orange County will be the fourth market for IronStone Bank, which launched in Austin, Texas, in September and plans to open offices in Scottsdale, Ariz., and San Diego early in 2003.

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 billion financial holding company based in Raleigh, N.C.

IronStone Bank is dedicated to building longstanding relationships with individual customers, small to mid-sized businesses, professionals and the medical community. In addition to its branch offices, customers will also be able to access financial services through the bank’s Customer Contact Center at 1-866-IB DIRECT (1-866-423-4732) and through the Internet at ironstonebank.com.

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