Atlantic States Bank to Change Name to IronStone Bank

March 10, 2004

ALPHARETTA, Ga. — Atlantic States Bank will change its name to IronStone Bank on Monday, March 15.

"We've chosen to change our name to IronStone Bank to reflect our straightforward, rock-solid approach to banking," said IronStone Bank President Jim Pope. "The IronStone name conveys the traditional values for which we're known - our strength, durability and reliability."

Atlantic States customers and bank associates will not be affected in any way by the change, said Pope. All banking products and services provided to customers will remain the same.

Pope noted that the consistent use of the IronStone Bank name eliminates geographic limitations as the company continues to expand.

While the bank is known as Atlantic States in Georgia and Florida, the IronStone name is already being used successfully in new western markets in Texas, Arizona and California. IronStone plans to enter Colorado and New Mexico later this summer and received regulatory approval this month to expand into Portland, Ore.

New signs with the IronStone Bank logo will debut at Atlantic States Bank locations on March 15. The bank's Web site will also reflect the name change, ironstonebank.com.

"We expect a seamless transition of the IronStone Bank name and logo on our branches and banking materials," Pope said. "We want our customers in Georgia and Florida to know that our name change will not have any impact on the superior service we deliver or our customer focus."

IronStone Bank focuses on building long-lasting relationships with individuals, small to mid-sized businesses, professionals and the medical community.

Chartered in 1997, Atlantic States opened its first office in Norcross, Ga., rapidly growing throughout the Metro Atlanta market. In 1998, the bank expanded into the Fort Myers-Naples area of Southwest Florida and later to the Jacksonville and Fort Lauderdale regions of Florida. The bank has also received approval to open an office in Palm Beach County.

In 2002, Atlantic States created a division, using the name IronStone Bank. The division opened offices in the high-growth western markets of Austin, Texas; Scottsdale, Ariz.; and the California communities of La Jolla, Mission Viejo, Newport Beach, Rancho Santa Margarita, Sacramento and San Diego. Jay Parker, based in Austin, serves as president of IronStone Bank's western franchise.

After the name change, IronStone Bank will have 45 branches in Georgia (19), Florida (15), Texas (three), Arizona (two) and California (six). The bank's headquarters will continue to operate out of Alpharetta, Ga., and the western division headquarters will continue to operate out of Austin, Texas.

IronStone Bank's logo resembles an iron cinch, an architectural feature that helps make buildings flexible yet strong. Prior to the launch of the division, the IronStone name was positively tested by focus groups. It has been well received in IronStone's western markets since then.

IronStone Bank is a subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), a $12.6 billion financial holding company based in Raleigh, N.C. For more information, call toll free 1-866-IB DIRECT (1-866-423-4732) or visit ironstonebank.com.

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