First Citizens Bank to Acquire Greater Atlantic Bank Branch in Winchester, Va.

July 15, 2004

RALEIGH. N.C. — First Citizens Bank announced today that it has agreed to acquire a Greater Atlantic Bank office in Winchester, Va.

The acquisition is subject to regulatory approval. Completion of the transaction is expected in the fourth quarter of 2004.

“We’re pleased to announce our plans to enter a new market and strengthen our presence in Northern Virginia,” said Jim Hyler, vice chairman of First Citizens Bank. “We are committed to Winchester for the long term and look forward to providing our brand of superior service to new retail and business customers.”

If the acquisition is approved, First Citizens will operate Greater Atlantic Bank’s branch at 2147 Valley Ave. and assume $21 million in deposits. First Citizens will also offer employment to the branch associates.

“Winchester is a natural extension and strategic fit for our bank in the Northern Shenandoah Valley,” said John Francis, executive vice president for First Citizens’ Virginia/West Virginia region. “First Citizens Bank is focused on building long-lasting relationships with the small to mid-sized businesses, professionals and medical community that comprise the market served by this office.”

First Citizens Bank has 47 branches in Virginia, with regional headquarters in Roanoke. The bank offers individual and business banking services, as well as trust, insurance and investor services.

Founded in 1898, First Citizens operates 337 branches in 200 cities and towns in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, N.C., First Citizens has $12.7 billion in assets. For more information, visit firstcitizens.com or call toll-free 1-888-FC DIRECT (1-888-323-4732).

Barbara Thompson
(919) 716-2716
First Citizens Bank