First Citizens Bank Launches ‘All-Day Banking’

Bank among industry leaders in same-day crediting of deposits

May 23, 2006

RALEIGH, N.C. - First Citizens is launching “All-Day Banking.” The bank is one of the first financial institutions in its markets to offer this service.

Weekday deposits made at most First Citizens branches in North Carolina, Virginia, West Virginia, Maryland and Tennessee anytime before closing will be credited to accounts the same day.

“The calendar day and the banking day are one and the same,” said President Frank Holding Jr. “First Citizens customers can bank on their schedule and have their money available when they need it.”

Previously, transactions completed after 2 p.m. were not credited to a customer’s account until the next business day - a common practice in the banking industry. First Citizens is now among the leaders in the posting of same-day transactions.

With All-Day Banking, customers can make deposits and withdrawals as well as pay EquityLines, installment loans and lines of credit during branch hours - and expect the transaction to post the same day.

All-Day Banking gives businesses more flexibility in making their daily deposits. Business customers can bring in their deposits anytime before closing and have them posted that day. Funds are available sooner, resulting in improved cash flow.

With All-Day Banking, the business day ends at 5 p.m., Monday through Thursday, and at 6 p.m. on Friday. At certain branches, the cutoff time may differ from closing time. Customers should check with their local branch for the applicable cutoff time.

All-Day Banking excludes deposits made on Saturdays, Sundays and federal holidays, which are posted the next business day.

For ATM transactions, each business day generally ends at noon. ATM transactions occurring after that time may be posted on the following business day.

Founded in 1898, First Citizens Bank operates 339 branches in 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. Headquartered in Raleigh, N.C., First Citizens has $15 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. 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