Photo Release -- First Citizens Bank Introduces New Credit Card Rewards Program

All-New Offering Allows Customers to 'Earn More. Do More.^SM'

RALEIGH, N.C., Oct. 20, 2014 (GLOBE NEWSWIRE) -- First Citizens Bank announced today the launch of First Citizens Rewards^SM, an all-new credit card rewards program that allows customers to "Earn more. Do more.^SM"

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=28459

"The new First Citizens Rewards program brings together all the great credit card benefits people are looking for today and reinforces our commitment to putting our customers first," said Karla Mizelle, manager of product and channel strategy at First Citizens. "Our rewards will be among the best in class and bring even greater value to our cardholders."

The First Citizens Rewards program benefits customers in two fundamental ways: Earning more points and doing more with the points they have.

" 'Earn More' means First Citizens Rewards customers can accumulate more points, in more ways, with more value than our previous rewards programs," Mizelle said.  " 'Do More' means customers have more and better options than ever before for using the points they accumulate with First Citizens Bank, including more selections for travel, digital and gift card rewards and the popular cash-back option."

Along with the new rewards program, First Citizens has given its credit cards a fresh design that reflects the bank's brand. The new look displays a portion of First Citizens' classic "FC" flag icon on the front and features a red core around the card's edge to make it more prominent in a wallet.

For consumer customers, First Citizens now offers two credit card options that qualify for the new rewards program:

• First Citizens Optimum Rewards^SM Visa^®, the premier rewards card, allows users to earn 1.5 points for every $1 spent on qualifying purchases. The annual fee for the Optimum level of the program is only $50 and points never expire as long as the Optimum level is maintained — with no cap on the number of points customers can earn.
   
• First Citizens Rewards Visa^®, the entry-level rewards card, allows users to earn 1 point for every $1 spent on qualifying purchases and pool points with other First Citizens consumer cards, so they can earn points even faster. There is no annual fee.

Visit www.firstcitizens.com/creditcards for more information about First Citizens consumer credit cards.

For business customers, First Citizens now offers one credit card that qualifies for the new rewards program:

• First Citizens Optimum Rewards^SM Business Visa^® brings together a competitive rate and points structure — earning 1.5 points for every dollar spent on qualifying purchases, with an annual fee of only $50 per card. Business customers can get cards for their employees, set credit limits and pool points across all their qualified credit cards.

Visit www.firstcitizens.com/bizcreditcards for more information on First Citizens business credit cards.

Both consumer and business cardholders in the rewards program can pool, gift and purchase points as well as redeem them for a wide selection of rewards including:

• Cash back. Customers can use their points for statement credit on their First Citizens credit card accounts.
• Merchandise. A great assortment is available via the First Citizens Rewards website.
• Retail gift cards. Gift cards are available in various values to a large variety of retailers.
• Digital rewards. These rewards are delivered electronically, so customers can begin enjoying them right away.
• Pay Me Back^SM statement credits. Customers can easily get reimbursed via statement credit for recent, eligible purchases and travel bookings made using their First Citizens credit card.
• Travel. Customers can redeem points for a variety of travel rewards, including airline tickets, hotel stays, car rentals, cruises and various activities, such as tickets to museums.

In addition, Optimum-level cardholders can redeem points for:

• Enhanced value on roundtrip airline tickets to anywhere in the continental United States.
• Unique travel experiences. Optimum-level customers can save points to build their own travel packages or redeem points for unique offerings promoted through the rewards site, such as tickets to major sporting events, spa retreat packages or customized travel experiences.

Cardholders can review their rewards status, manage accounts and redeem rewards on the new First Citizens Rewards program website at www.firstcitizensrewards.com.

First Citizens also offers other credit card options that are not eligible for the First Citizens Rewards program: First Citizens Smart Option^SM Visa^® for customers who want a simple, lower-rate card; and First Citizens Business Visa^® for businesses that want no annual fee and a competitive rate.

The First Citizens Rewards program is offered at First Citizens Bank, which serves customers at nearly 400 branches in 17 states and the District of Columbia. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is a banking subsidiary of First Citizens BancShares Inc. (Nasdaq:FCNCA), which has more than $30 billion in assets. BancShares' other banking subsidiary is First Citizens Bank and Trust Company, Inc. of South Carolina, which serves customers from more than 175 branches in South Carolina and Georgia. For more information, call toll free 1.888.FC DIRECT (1.888.323.4732) or visit firstcitizens.com. First Citizens Bank. Forever First^®.