First Citizens Bank Launches FreeMoney Bonus Program

RALEIGH, N.C., March 30, 2009 (GLOBE NEWSWIRE) -- First Citizens Bank announced today a first-of-its-kind program that gives ``free money'' bonuses to eligible customers who make frequent check card purchases.

First Citizens FreeMoney(sm) Bonus Program is a new checking account-based program that rewards customers when they use their personal Visa(r) Check Card for non-PIN (sometimes referred to as a credit or signature) transactions. Once a monthly qualifier is met, the bank deposits $1 for each eligible transaction of $25 or more into a client's special savings account.

``Unlike other check card programs, every $1 bonus is on us -- First Citizens Bank,'' said Doug Sprecher, First Citizens' Manager of Sales and Service Delivery. ``What sets the FreeMoney program apart is that customers use our money, not theirs, to save -- so it gives them another opportunity to build their savings in this tough economy.''

According to Sprecher, First Citizens' FreeMoney program is ideal for clients who are considering opening a new checking account, who use their check card frequently and who want to switch to a bank that they trust for safety and soundness.

The program works as follows:

   *  To enroll, clients must open or have a First Citizens personal
      checking account and then open a FreeMoney Bonus Savings
      Account.

   *  FreeMoney clients must make a certain number of non-PIN
      transactions each month before they can qualify for the
      FreeMoney dollars.

   *  Once clients meet their monthly qualifiers, they earn one
      bonus dollar for every non-PIN check card transaction of
      $25.00 or more for the remainder of that statement cycle.
      The dollars earned are then deposited into the customers'
      Bonus Savings Accounts.

Starting this week, First Citizens will begin advertising the FreeMoney Bonus Program throughout its markets. Additional information is available on the bank's Web site, firstcitizens.com/freemoney. To get started, customers can also stop by any First Citizens office during regular business hours or call 1.877.5 FCB NOW (1.877.532.2669) between 8 a.m. and 8 p.m., Monday through Friday, or 8 a.m. to 6 p.m., Saturday and Sunday.

First Citizens Bank is the recipient of five-star superior rankings by two independent banking rating firms: BauerFinancial Inc. of Coral Gables, Fla. (Bauerfinancial.com) and Bankrate.com. BauerFinancial's rating, the highest given by the firm, is based on the overall financial picture of the institution and indicates that First Citizens is one of the strongest banks in the nation. Bankrate.com's Safe & Sound(r) superior rating indicates that, as of September 30, 2008, Raleigh, N.C.-headquartered First Citizens Bank ``exhibited a superior condition, characterized by normal overall, sustainable profitability, a very high measure of asset quality, very strong capitalization and ample liquidity.''

Founded in 1898, First Citizens operates 345 branches in North Carolina, Virginia, West Virginia, Tennessee and Maryland. The bank is a major subsidiary of First Citizens BancShares Inc. (NasdaqGS:FCNCA - News), which has $16.7 billion in assets. First Citizens is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information about First Citizens Bank and its services, visit firstcitizens.com or call toll-free 1.888.FC DIRECT (1.888.323.4732).

          First Citizens Bank
          Barbara Thompson
          919.716.2716