August 9, 2002

LA JOLLA, CALIF. — Jay Parker, president of IronStone Bank, today announced that the bank plans to expand into the La Jolla community of San Diego.

The bank is seeking regulatory approval to open in La Jolla and has selected a site for its first office.

The office site is located at 835 Pearl St. IronStone plans to renovate and open the office in early 2003.

Parker will name members of the local management team in the coming months.

IronStone Bank will open two branches and a six-lane motor bank in Austin, Texas this fall. The bank also will open an office in Scottsdale, Ariz. in December.

IronStone Bank employs associates with local experience to provide tailored financial services to individual customers, professionals and small to mid-sized businesses. The bank is a division of Atlantic States Bank, a federal savings bank with 41 offices in Georgia and Florida. Atlantic States is a subsidiary of First Citizens BancShares (Nasdaq: FCNCA) an $11.86 billion financial holding company based in Raleigh, N.C.

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