Printer Friendly

FIRST CITIZENS ASSUMES FIRST AMERICAN DEPOSITS IN BURGAW, CLINTON, GASTONIA AND SNOW HILL

 RALEIGH, N.C., Oct. 9 /PRNewswire/ -- First Citizens Bank has assumed the deposits of the Burgaw, Clinton, Gastonia and Snow Hill offices of the former Greensboro-based First American Federal Savings Bank.
 Rocky Mount-based Centura Bank assumed certain deposits of the former First American from the Resolution Trust Corporation. In a simultaneous transaction, Centura immediately sold the deposits in the four cities to First Citizens Bank.
 First Citizens absorbed the deposits in these offices at the close of business on Friday, Oct. 8, according to James B. Hyler Jr., First Citizens' president, who made the announcement today. The bank assumed a total of approximately $39 million in deposits. Of those, First Citizens received approximately $19 million in Snow Hill, $11 million in Clinton, $6 million in Burgaw and $3 million in Gastonia.
 Hyler says that the transaction will serve to strengthen First Citizens' presence in these existing markets. "We have a history of providing high-quality, personalized service to our customers in these cities," he says. "We look forward to offering convenient services to former thrift customers and pledge to make the transition as smooth as possible."
 From Monday, Oct. 11, through Friday, Oct. 29, customers will temporarily be served from the existing offices of the former First American in: Burgaw, 214 E. Fremont St.; Clinton, 600 College St.; Gastonia, 1355-B E. Garrison Road and Snow Hill, 201 N. Greene St.
 Effective Monday, Nov. 1, these locations will close and all business will transfer from the former First American branches to the First Citizens main offices at: 100 W. Fremont St. in Burgaw; 201 E. Main St. in Clinton; 145 S. Marietta St. in Gastonia and 110 N. Greene St. in Snow Hill.
 First Citizens is a $5.4 billion statewide financial institution based in Raleigh that serves North Carolina with 318 offices in 180 cities and towns statewide.
 -0- 10/9/93
 /CONTACT: Alex MacFadyen of First Citizens Bank, (home) 919-847-1371/
 (FCNCA)


CO: First Citizens Bank; First American Federal Savings Bank;
 Centura Banks, Inc. ST: North Carolina IN: FIN SU:


MM -- CHSA001 -- 0433 10/09/93 09:00 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 9, 1993
Words:348
Previous Article:MANAGERS IN SURVEY BELIEVE THAT A SHORTAGE OF SKILLED LABOR WILL PLAGUE COMPANIES IN THE NEXT SEVERAL YEARS
Next Article:BIGGER AND BETTER THAN EVER, 'RESIDENT SALUTE' RETURNS TO DISNEYLAND THROUGH JUNE 30, 1994; $22 PASSPORT FOR SOUTHERN CALIFORNIA RESIDENTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters