September 18, 2002

LA JOLLA, CALIF. — IronStone Bank has received federal approval to open an office in the La Jolla community of San Diego, according to bank President Jay Parker.

The Office of Thrift Supervision approved the bank's application to open a branch at 835 Pearl St. IronStone plans to renovate and open the office in early 2003.

"We're looking forward to this opening and the opportunity to start developing relationships with customers and in the La Jolla community," Parker said. "We're putting together a team of locally experienced bankers who will be able to deliver on our pledge to provide exceptional service and a better banking experience."

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

IronStone Bank will open three branches in Austin, Texas, this fall and a branch in Scottsdale, Ariz., in December.

IronStone Bank focuses on building long-standing relationships with individual customers, small to mid-sized businesses, professionals and medical practitioners.

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