AUSTIN, Texas - IronStone Bank has announced plans to enter markets in New Mexico and Colorado, continuing its Western United States expansion.

IronStone Bank, which focuses on the small business, professional and retail markets, is seeking regulatory approval from the Office of Thrift Supervision to open at 311 Steele St. in Denver, Colo., and at 700 Paseo de Peralta in Santa Fe, N.M. The bank has also recently opened a loan office in Albuquerque, N.M.

IronStone is a division of Atlantic States Bank, a federal savings bank that is a subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA). First Citizens BancShares is a $12 billion financial holding company based in Raleigh, N.C.

Both Denver and Santa Fe are ideal settings for IronStone Bank’s customer-focused brand of banking, said Lewis R. Holding, chairman of First Citizens BancShares. “We look forward to developing long-lasting relationships with people in these growing and vibrant communities.”

IronStone Bank is led by President Jay Parker who is putting together a team of locally experienced bankers to manage operations in the new markets.

The Santa Fe office is in the historic district and is scheduled to open in the third quarter of 2004. The Denver office is near the Cherry Creek Shopping Center and is expected to open in the second quarter of 2004.

In the past year, IronStone Bank has opened eight offices located in Austin, Texas; Scottsdale, Ariz.; and Orange County and San Diego, Calif. The bank plans to open an office in Sacramento, Calif. in December 2003.

In addition to the IronStone Bank division, Atlantic States Bank has 37 offices in Florida and Georgia. Jim Pope is president of Atlantic States. In 2004, all Atlantic States offices will convert to the IronStone Bank name to reflect the company’s steady growth across the United States.

First Citizens BancShares’ lead subsidiary is First Citizens Bank, which opened its first branch in 1898 and has 342 offices in North Carolina, Virginia and West Virginia.

IronStone Bank works to build longstanding relationships with individual customers, small to mid-sized businesses, professionals and the medical community. In addition to its branch offices, customers can access financial services through the bank’s Customer Contact Center at 1-866-IB DIRECT (1-866-423-4732) and through the Internet at ironstonebank.com.

Barbara Thompson
(919) 716-2716
First Citizens BancShares