FOR IMMEDIATE RELEASE
May 19, 2006
For information, contact
Phone: (803) 931-1611
First Citizens Announces the Purchase of Carolina First Branch in Mullins, S.C.
Columbia, S.C., May 19, 2006 – First Citizens Bank and Trust Company, Inc., a subsidiary of First Citizens Bancorporation, Inc., and Carolina First Bank announce the signing of a definitive agreement by which First Citizens Bank will purchase deposits and certain other assets of the Carolina First Bank office in Mullins, South Carolina.
Jim Apple, Chairman and Chief Executive Officer of First Citizens Bank, stated that the two banks will work together closely to ensure a smooth transition for the customers of the branch office. "First Citizens shares Carolina First's commitment to relationship banking and to the local communities we serve. We already have a presence in Marion County, and we are excited to bring our ' We're on it' service approach to the citizens of Mullins."
Pending regulatory approval, the transaction is expected to be completed during the third quarter of 2006.
First Citizens Bancorporation, Inc. is a two-bank financial holding company headquartered in Columbia, South Carolina, with $5.60 billion in total consolidated assets as of March 31, 2006. For more information, visit the First Citizens web site at www.firstcitizensonline.com.