April 24, 2002

RALEIGH, N.C. — Lewis R. Holding, chairman of First Citizens BancShares Inc., announced today that Jay Parker has been named president of Atlantic States Bank's western division. Atlantic States is a BancShares subsidiary.

"Jay Parker's experience and knowledge make him the right leader to oversee our expansion into the western region of the country," said Holding. "He has had a major impact on the development of First Citizens Bank in Eastern North Carolina."

Parker joined BancShares' main subsidiary, Raleigh-based First Citizens Bank, in 1966 and has served in a number of key management positions. Most recently he has served as the bank's executive vice president for the Eastern Region of North Carolina. Parker is a Clinton, N.C. native. He attended the University of North Carolina at Wilmington and Chowan College. He also served in the U.S. Navy.

An announcement will be made soon about Parker's replacement at First Citizens Bank.

Atlantic States announced earlier this month that it plans to expand into the Austin, Texas, market. Atlantic States is seeking regulatory approval to open in Austin and has selected sites for its first two branches.

The branch sites are located at 710 Congress Ave. (as the proposed main office) in the historic Tips Building near the state capitol and 11149 Research Blvd. in Balcones Centre. A six-lane motor bank site is located at 814 San Jacinto Blvd. Atlantic States plans to renovate and open the offices later this year. A franchise name will be announced in the coming months.

Atlantic States Bank focuses on serving individual customers, professionals and small to mid-sized businesses, a successful formula for its markets in Georgia and Florida. Atlantic States is a federal savings bank with 42 offices in Metro Atlanta, Southwest Florida, Southeast Florida and North Florida. For more information about Atlantic States Bank, call toll free 1-800-AS DIRECT (1-800-273-4732) or visit the Internet site at atlanticstatesbank.com.

First Citizens BancShares (Nasdaq: FCNCA) is an $11.75 billion financial holding company based in Raleigh, N.C. BancShares' two major subsidiaries are Atlantic States Bank and 104- year-old First Citizens Bank with 348 branches in North Carolina, Virginia and West Virginia.

For more information, contact:
Barbara Thompson
(919) 716-2716
First Citizens BancShares