First Citizens Bancorporation, Inc. Chairman and CEO Jim B. Apple Announces Retirement

COLUMBIA, SC – First Citizens today announced that Jim Apple, chairman and CEO of First Citizens Bancorporation, Inc., headquartered in Columbia, S.C., plans to retire at the time of the bank’s combination with First Citizens Bancshares, Inc., headquartered in Raleigh, N.C., which is scheduled for the fourth quarter of 2014. Apple will be available for consultation with the combined company for an extended period of time.

First Citizens Bancorporation, Inc. and First Citizens BancShares, Inc. announced yesterday the signing of a definitive merger agreement, subject to the receipt of regulatory approvals and the approval of shareholders from both companies. As part of the proposed merger, it was announced that Frank B. Holding, Jr. is expected to lead the combined company.

“Given the need to establish a leadership structure for the long term, my retirement at this time makes sense for me and for all involved,” said Apple. “I have no hard and fast plans at this stage other than to spend time with family and to allow myself to enjoy a break in the action. I will continue to stay in touch with leaders in the community and in banking, as I value these long-standing relationships.”

Apple joined First Citizens in 1993, became President in 1994, and was named CEO in 1998. The company experienced marked growth in the number of branches, service capability, and community stature under his leadership, growing total assets from $1.4 billion to $8.5 billion during his tenure.

Apple has chaired numerous civic boards, most notably Columbia College and the Central SC Alliance. He currently serves on the South Carolina State Board of Financial Institutions under appointment by the Governor.

“What is perhaps most impressive about Jim’s passion for community involvement is that it extends to the associates who work for First Citizens,” said James Bennett, executive vice president and director of public affairs for First Citizens. “Jim has created a culture that encourages associates to play an active role in the community, because he recognizes the importance of these relationships and partnerships. As a result of his successful career in banking and his service to the community, the associates at First Citizens have the utmost respect and admiration for him. He leaves quite a legacy.”

“Jim is an example of success,” said Kevin Marsh, chairman and CEO of SCANA Corporation and a member of First Citizens’ board of directors. “He was able to blend his passion for business with a sincere concern for people. Using these traits, he led a team at First Citizens that was extremely motivated and produced great results. Jim set a strong example of working in the community and invested a lot of time and effort into making the communities served by the bank successful. I will always consider Jim a great friend and mentor.”

About First Citizen

First Citizens Bancorporation, Inc., is the parent company of First Citizens Bank and Trust Company, Inc. First Citizens Bank offers services in commercial and retail banking through its nearly 180 offices in South Carolina and Georgia. As of March 31, 2014, First Citizens Bancorporation, Inc. had total consolidated assets of $8.53 billion. For more information, visit the First Citizens website atwww.firstcitizensonline.com.

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