First Citizens Bank Completes Operational Conversion of Gwinnett Community Bank Division

Rhea-AI Summary

First Citizens Bank has successfully completed the conversion of Gwinnett Community Bank in Duluth, GA, as of November 9, 2020. This transition aligns Gwinnett customer accounts with First Citizens products, enhancing access to a broader range of financial services. Three branches formerly under Gwinnett's name have been rebranded to First Citizens locations. Chairman and CEO Frank B. Holding Jr. expressed confidence in providing exceptional service to the new clients while reinforcing their commitment to growth in Georgia. First Citizens Bank is a leading family-controlled bank in the U.S., with approximately $48.67 billion in assets.

Positive

• Successful conversion of Gwinnett Community Bank enhances service offerings.
• Expanded access to First Citizens products and services for Gwinnett customers.
• Rebranding of three branches improves brand recognition.

Negative

• None.

RALEIGH, N.C., Nov. 09, 2020 (GLOBE NEWSWIRE) -- First Citizens Bank announced that its Gwinnett Community Bank division based in Duluth, Ga., has completed its conversion to First Citizens’ operations and systems. This conversion aligns customer accounts to First Citizens products and services and puts both banks on the same operational and technical systems.

“We’re pleased to officially welcome Gwinnett Community Bank customers to First Citizens, and our associates are ready and prepared to provide them with outstanding service,” said Frank B. Holding Jr., chairman and CEO of First Citizens Bank. “We look forward to deepening our relationships with new and current clients and continuing to grow in Georgia.”

Effective today (Nov. 9), three former Gwinnett Community division branches in Georgia now carry the First Citizens Bank name. Those locations are 2775 Buford Highway, Duluth; 3893 Lawrenceville Suwanee Road, Suwanee; and 2715 Hamilton Mill Road, Buford. Signs at these former Gwinnett Community division offices were changed to First Citizens Bank.

Gwinnett customers now have access to the wide selection of First Citizens products and services. In addition, they can bank at any First Citizens location throughout the bank’s 19-state branch network, through First Citizens Digital Banking (online and mobile), by ATM and by telephone. Information detailing the conversion and transition to First Citizens was mailed to Gwinnett customers in October. First Citizens has provided banking services in Georgia for 23 years.

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is one of the largest family-controlled banks in the U.S., with more than 500 offices in 19 states. First Citizens Bank is a wholly owned subsidiary of First Citizens BancShares, Inc. (Nasdaq: FCNCA), which had $48.67 billion in assets as of Sept. 30, 2020. For more information, call toll free 1.888.FC DIRECT (1.888.323.4732) or visit firstcitizens.com. First Citizens Bank. Forever First^®.

Contact:

Barbara Thompson First Citizens Bank 919.716.2716

FAQ

What is the significance of the Gwinnett Community Bank conversion for FCNCA?

The conversion allows Gwinnett Community Bank customers to access a wider range of First Citizens products and services, enhancing client relationships and operational efficiency.

When did First Citizens Bank complete the conversion of Gwinnett Community Bank?

The conversion was completed on November 9, 2020.

How many branches were rebranded to First Citizens Bank from Gwinnett Community Bank?

Three branches were rebranded to First Citizens Bank.

What was the asset value of First Citizens BancShares as of September 30, 2020?

As of September 30, 2020, First Citizens BancShares had $48.67 billion in assets.

What improved services do Gwinnett customers gain after the conversion?

Gwinnett customers now have access to First Citizens' extensive products, digital banking, and 19-state branch network.