First Citizens BancShares Completes Merger

GlobeNewswire press release:

     North Carolina, South Carolina Banks Merge, Form Largest
               Family-Controlled Bank in the Nation

RALEIGH, N.C., Jan. 2, 2015 (GLOBE NEWSWIRE) — First Citizens
BancShares Chairman Frank B. Holding, Jr. announced today the
completion of the previously announced merger of the company’s two
banking subsidiaries. Effective Jan. 1, 2015, First Citizens Bank and
Trust Company Inc., based in Columbia, S.C., merged with and into
First-Citizens Bank & Trust Company, known as First Citizens Bank,
headquartered in Raleigh, N.C.

The combined First Citizens Bank now operates more than 570 branches in
18 states and the District of Columbia, adding more than 175 locations
in South Carolina and Georgia to the bank’s existing branch network.
Today, First Citizens is the largest family-controlled bank in the
nation and the sixth-largest bank franchise headquartered in the
Southeast with more than $30 billion in assets.

“This merger is a great step forward for us and our customers; it’s a
milestone in the history of First Citizens – when two great banks
became one,” Holding said. “It not only strengthens our presence as a
leading bank headquartered in the Southeast, but it also will allow us
to offer services to more people and businesses and gives us a solid
foundation for the future.”

Until the two banks’ operating systems are combined in the latter half
of 2015, customers should continue to bank as they normally do, using
their current checks, debit cards and credit cards. They will be
notified prior to the systems conversion of any changes to their
accounts.

The merger will give customers access to a broader network of branches
once systems are integrated, plus an expanded team of consumer,
business and wealth management bankers. Customers can already get cash
at any First Citizens ATM in the combined network with no surcharge.

“The combined First Citizens Bank continues our shared tradition of
building financial relationships for the long term,” Holding said.
“Customers in South Carolina and Georgia will find a Forever First
commitment to integrity, accountability and service excellence that
have been hallmarks of our company for more than a century.”