First Citizens Bank Among Top in National Leasing Rankings

North Carolina-headquartered bank ranks 20th in volume

August 3, 2007

RALEIGH, N.C. —First Citizens Bank has been named one of the top companies in the nation for leasing equipment to businesses by an industry trade magazine.

For 2006, Raleigh-headquartered First Citizens ranked 20th for leasing volume by employee among the 100 largest equipment financing/leasing companies in the United States, according to Top 100 Monitor. The year 2006 was the first year this measurement was listed by the magazine.

In addition, the company rose in the national rankings from 80th to 75th in net portfolio outstandings and from 78th to 69th in new business volume.

"The reason for our success in leasing to businesses is simple: We value the total relationship with our customer, and our bankers consider leasing a practical option when evaluating a company's financial needs," said Tom Harris, manager of First Citizens Bank's commercial leasing department.

In many cases, leasing makes good business sense, according to Harris. "The main attractions are the conservation of operating capital, tax advantages and cost effectiveness," he said "Leasing also offers companies flexibility in their equipment choices and gives them the opportunity to create financing scenarios that best fit their needs."

First Citizens Bank provides both capital and operating leasing for all types of business equipment and products, including high-tech medical equipment, computer systems, office furniture and equipment, manufacturing machinery, printing presses, business and farm vehicles and tractor-trailers.

Founded in 1898, First Citizens operates 340 branches in 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. Headquartered in Raleigh, First Citizens has $16 billion in assets. The bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information about First Citizens Bank and its services, visit firstcitizens.com or call toll-free 1-888-FC DIRECT (1-888-323-4732).

Barbara Thompson
919.716.2716
First Citizens Bank