Columbia- based First Citizens Bancorporation, Inc applied for a minimal level of capital under the U.S. Department of Treasury's Capital Purchase Program and was approved without conditions but declined to participate in the program.

"First Citizens initially perceived that the additional capital would be beneficial in the event the recession lasts longer than expected and would provide more flexibility in its lending activities. After careful consideration, First Citizens Bank concluded the program's cost outweighed its benefits for our high performing and well- capitalized bank." said chief financial officer Craig Nix.

First Citizens Bancorporation, Inc., is the parent company of First Citizens Bank and Trust Company, Inc., The Exchange Bank of South Carolina, Inc., and Merchants and Farmers Bank of Comer, Ga.

First Citizens Bank offers services in commercial and retail banking through its 183 offices in South Carolina and Georgia. As of Dec. 31, 2008, First Citizens Bancorporation, Inc. had total consolidated assets of $7.02 billion.

For more information, visit the First Citizens web site at www.firstcitizensonline. com.