FOR IMMEDIATE RELEASE
Nov. 3, 2008
For information, contact
Contact: Ashley Sherry
First Citizens Corporate Communications
FIRST CITIZENS BANCORPORATION, INC. COMPLETES ACQUISITION OF COMMUNITY RESOURCE BANK IN ORANGEBURG
Columbia, S.C.– On Nov. 1, 2008, Columbia, South Carolina-based First Citizens Bank and Trust Company, Inc., a wholly-owned subsidiary of First Citizens Bancorporation, Inc., completed the acquisition of Community Bankshares, Inc., (Amex: SCB) (“SCB”), parent of Community Resource Bank, N.A., headquartered in Orangeburg, South Carolina.
Samuel L. Erwin, CEO of Community Bankshares, Inc., said, “We want to continue the tradition of customer service and satisfaction and First Citizens can deliver that. We are pleased that Community Resource customers and bankers will be a part of this bank.”
Community Resource Bank operates ten full-service offices in the communities of Orangeburg, Sumter, Blythewood, Ridgeway, and Winnsboro. Community Resource Bank customers will now receive expanded banking services, with access to more than 180 branches in South Carolina and Georgia.
First Citizens’ Chairman and CEO, Jim Apple, said that First Citizens' presence in these communities will be enhanced by the merger with Community Resource Bank. “The coming together of these two organizations will continue to deliver excellent products, service, and convenience to our clients,” said Apple. “Our two banks have a history of strength and stability and we welcome our new customers.”
About First Citizens
First Citizens Bancorporation, Inc., is the parent company of First Citizens Bank and Trust Company, Inc., The Exchange Bank of South Carolina, Inc., and Merchants and Farmers Bank of Comer, Georgia. First Citizens Bank offers services in commercial and retail banking through its 180 offices in South Carolina and Georgia. As of September 30, 2008, First Citizens Bancorporation, Inc. had total consolidated assets of $6.42 billion. For more information, visit the First Citizens web site at www.firstcitizensonline.com.
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