First Citizens Bank is celebrating its 50th anniversary this year.
First Citizens Bank originated in 1964 when brothers, Frank, Lewis, and Robert Holding purchased the controlling interest in Anderson Bank of Dillon, a one location bank with 16 associates.
The bank was undergoing a firestorm of controversy. The brothers agreed to recapitalize the bank paying $150,000 for 15,000 shares of new stock and assured the Federal Reserve that they were committed to saving the bank, which was restructured on April 6, 1964 marking the beginning of First Citizens.

As the bank straightened out past problems, they worked to attract depositors by offering high interest on deposits, running a promotion and advertising campaign, and becoming involved in community activities. Their commitment to the community is alive and well today as the bank contributes to and/or sponsors school activities, recreation teams, and more.
Charles S. McLaurin III was hired in the first year of operations and he ultimately became a Division Executive/Executive Vice President with numerous cities and branches over approximately half the state under his responsibility.  He subsequently became a member of the Board of Directors and the Executive Committee.
Mergers brought about growth. On March 22, 1967, the Clio depository merged with Anderson Bank. Two more branches were added in 1968 due to a merger with First National Bank of Lancaster. On July 1, 1968, the name was changed to Citizens Bank of South Carolina, which was the state’s eighth largest bank by the end of 1969. Three more struggling banks were acquired in 1968.
In 1970, the Commercial Bank and Trust Company of South Carolina merged with the Citizens Bank of South Carolina and became First Citizens Bank and Trust Company of South Carolina. It was headquartered in Columbia.
By 1976, First Citizens served twelve counties in South Carolina including most of the state’s large urban areas.
In 1996, First Citizens began their website, which underwent a redesign in 1998. In the year 2000, the bank began offering internet banking.
In 2003, First Citizens first entered the Georgia market acquiring First Bank and Trust and the Bank of Toccoa. In 2004, they added Citizens Bank in Georgia.
During this same period, the bank started its new branding campaign featuring the now popular slogan, “We’re on It.”
First Citizens growth continued when in 2005, the People’s Community Bank in Aiken and the Summit Financial Corporation in Greenville were acquired.
In 2006, the bank moved into their newly built corporate headquarters in Columbia.
The bank continued to grow acquiring the Community Resource Bank in Orangeburg in 2008, the Merchants and Farmers Bank in Comer, Georgia in 2008; the Williamsburg First National Bank in 2010; and Atlantic Bank & Trust in 2011.
In 2009, First Citizens opened offices in Augusta, Georgia and got into the Atlanta, Georgia market through the acquisition of Georgian Bank.
Today, First Citizens Bank has a big presence in Dillon County with locations in Dillon and Lake View. Officers include Steve Jacobs, the Market Executive over Dillon, Marion, Marlboro, and Cheraw, and Ray Stephens, the City Executive for Dillon.
On June 10, 2014, First Citizens BancShares, Inc. and First Citizens Bancorporation announced the signing of a definitive merger agreement, according to a press release. The agreement provides for the merger of Columbia, SC-based First Citizens Bancorporation and its banking subsidiary, First Citizens Bank and Trust Company, Inc., into Raleigh, NC-based First Citizens BancShares, Inc. and its banking subsidiary, First Citizens Bank.
The transaction is expected to close in the fourth quarter of 2014, subject to the receipt of regulatory approvals and the approval of shareholders from both organizations. They will be announced at later dates.
Based on financial results as of March 31, 2014, the combined company would have total assets of $30.7 billion, deposits of $26.1 billion, loans of $18.0 billion, and more than 575 branches in 18 states and the District of Columbia. The merger will create the largest family-controlled bank in the US and the sixth largest bank headquartered in the Southeast by asset size.
First Citizens hopes to continue its history of growth and prosperity and its commitment to their customers and the communities they serve for many years to come.