First-Citizens Bank & Trust Company, Raleigh, North Carolina, Assumes All of the Deposits of North Milwaukee State Bank, Milwaukee, Wisconsin — 2016-03-11

North Milwaukee State Bank, Milwaukee, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of North Milwaukee State Bank. The two branches will reopen as North Milwaukee State Bank, a division of First-Citizens Bank & Trust Company during normal business hours. Depositors of North Milwaukee State Bank will automatically become depositors of First-Citizens Bank & Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.