First Citizens Bank Creates New Title Insurance Agency

November 3, 2003

RALEIGH, N.C. - First Citizens Bank has formed a new title insurance subsidiary, Neuse Financial Services Inc.

Neuse Financial Services will start operations this month and provide title insurance for personal mortgage and home equity borrowers. The agency plans to begin offering title insurance for commercial and small business customers in 2004.

“Neuse Financial Services will allow us to offer a higher level of customer service to borrowers,” said Wayne Duncan, executive vice president for retail administration at First Citizens. “The main benefit for customers will be a streamlined loan approval process with quicker turnaround times.”

The bank has named Carolyn Bolton, who has 15 years of experience in real estate and title insurance, to manage the agency.

Title insurance protects borrowers from financial loss if problems develop regarding the rights to ownership of property.

First Citizens Bank has 338 branches in more than 200 communities in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $12.39 billion in assets. First Citizens is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information on the bank, visit its website at firstcitizens.com.

Barbara Thompson
(919) 716-2716
First Citizens Bank