June 3, 2011

For information, contact:

Angela English
First Citizens Corporate Communications
Phone: 803.931.1854
Cell: 803.201.1003


Transaction marks First Citizens’ entry into Savannah, Ga. banking market

Columbia, S.C.– First Citizens Bank and Trust Company, Inc., a wholly-owned subsidiary of First Citizens Bancorporation, Inc., today announced that it has acquired the banking operations of Atlantic Bank & Trust from the FDIC. Atlantic Bank & Trust, headquartered in Charleston, S.C., has three branch locations in the cities of Charleston, Myrtle Beach and Savannah.

First Citizens Bank has entered into loss sharing agreements with the Federal Deposit Insurance Corporation (FDIC) effective today to purchase approximately $184.62 million of Atlantic Bank & Trust’s assets and assume the majority of its liabilities. The FDIC serves as Receiver of the institution. Deposits assumed by First Citizens Bank will be insured subject to FDIC limits with no losses to any depositor. First Citizens Bank has not purchased or assumed assets, liabilities or common stock of Atlantic Bank & Trust’s holding company, Atlantic Banc Holdings, Inc.

All acquired Atlantic Bank & Trust offices will operate as First Citizens Bank branches on Monday, June 6. Over the weekend, former Atlantic Bank & Trust customers will continue to have access to their funds through debit cards, checks and online banking. Customers should bank as they normally do at their existing branches. Former Atlantic Bank & Trust customers with questions about the transaction should contact a representative at any of the former Atlantic Bank & Trust locations or at any First Citizens Bank location.

“We are very excited to welcome our new customers and associates to First Citizens,” said Peter Bristow, president and chief operating officer of First Citizens. “This transaction gives us an opportunity to provide our new and existing customers access to nearly 200 branch offices and 225 ATMs in South Carolina and Georgia.”

“Entering the Savannah market and gaining economies of scale given our current presence in Charleston and Myrtle Beach make this transaction strategically beneficial to First Citizens. Our knowledge and familiarity with these communities will help the integration run smoothly and allow us to focus on what we do best - providing our customers with the highest level of service, and safe and sound banking.”

First Citizens Bank was selected to complete today’s transaction through a competitive bidding process. As of March 31, 2011, Atlantic Bank & Trust reported total assets of $208.20 million, loans of $151.26 million and total deposits of $191.61 million. The loans and other real estate owned by Atlantic Bank & Trust and purchased by First Citizens Bank are covered by loss sharing agreements between the FDIC and First Citizens Bank, which provides protection against losses to First Citizens Bank.

“Our position of strength and stability has enabled us to pursue this transaction, which directly supports our commitment to orderly growth in South Carolina and Georgia,” said Jim Apple, chairman and chief executive officer of First Citizens. “Our top priority throughout this integration is to reassure our customers that their money is safe with us and maintain the high level of service our customers have come to appreciate and expect from us for nearly a century.”

For more information about First Citizens Bank, visit

About First Citizens

First Citizens Bancorporation, Inc., is the parent company of First Citizens Bank and Trust Company, Inc., and The Exchange Bank of South Carolina, Inc. First Citizens Bank offers services in commercial and retail banking through its more than 190 offices in South Carolina and Georgia. As of March 31, 2011, First Citizens Bancorporation, Inc. had total consolidated assets of $8.54 billion. For more information, visit the First Citizens web site at

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