FOR IMMEDIATE RELEASE
July 15, 2002
For information, contact
First Citizens Bank
Janice C. Burt
Phone: (803) 931-8539
Fax: (803) 312-8850
First Citizens Bank Announces the Purchase of Two Branches in South Carolina
Columbia, S.C., July 15, 2002 — First Citizens Bank and Trust Company of South Carolina, a subsidiary of First Citizens Bancorporation of South Carolina, Inc. and RBC Centura Bank, a North Carolina state-chartered bank, announced today the signing of a definitive agreement by which First Citizens will purchase deposits, loans, and certain other assets of two RBC Centura offices in South Carolina.
The RBC Centura offices being acquired are located in Dillon and Timmonsville. First Citizens currently operates branch offices in Dillon.
Jim B. Apple, Chairman and Chief Executive Officer of First Citizens Bank, stated that the two banks will work closely together to ensure a smooth transition for their customers. "First Citizens looks forward to continuing to serve the residents and businesses in Dillon where we have a strong community banking presence. We are also pleased to be entering a new community for us in Timmonsville."
Pending regulatory approval, the transaction is expected to be completed during the fourth quarter of 2002.
First Citizens Bank offers services in commercial and retail banking through its 144 offices in South Carolina. First Citizens Bancorporation of South Carolina, Inc. is the parent company of First Citizens Bank and Trust Company of South Carolina and The Exchange Bank of South Carolina. As of March 31, 2002, First Citizens Bancorporation had total consolidated assets of $3.68 billion.