First Citizens Bank to Expand Into Tennessee

March 29, 2005

RALEIGH, N.C. - First Citizens Bank, the principal subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), today announced plans to open its first office in Tennessee.

First Citizens is seeking regulatory approval for an office in midtown Nashville at 1534 Demonbreun St. The bank will renovate leased space that is close to the State Capitol, Vanderbilt University Medical Center and Interstate 40. First Citizens expects to open the office in the fourth quarter of 2005.

“Nashville is an important market that can benefit from First Citizens’ track record of providing exemplary service and financial expertise to businesses, professionals and the medical community,” said Lewis R. Holding, chairman of the board. “We are a growing company and are excited to broaden our presence in the Southeastern United States.”

The bank will announce members of the local management team in the coming months. “Our experienced bankers focus on building long-term relationships to help customers strengthen their financial position and achieve their goals,” said Holding. “We’re convinced that the people and businesses in Nashville will respond positively to First Citizens’ strong lineup of retail, business and wealth management services.”

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank operates 336 branches in more than 200 cities and towns in North Carolina, Virginia and West Virginia. Its parent company, First Citizens BancShares, has $13.3 billion in assets. BancShares’ other bank subsidiary, IronStone Bank, has 46 offices in Georgia, Florida, Arizona, California, Colorado, New Mexico, Oregon, Texas and Washington.

For more information about First Citizens and its services, call toll-free 1-888-FC DIRECT (1-888-323-4732) or visit the bank’s Web site, firstcitizens.com.

Barbara Thompson
(919) 716-2716
First Citizens Bank