SMITHFIELD, N.C., May 29, 2018 (GLOBE NEWSWIRE) -- Frank Brown Holding, retired executive vice chairman of First Citizens BancShares, Inc. and its First Citizens Bank subsidiary, died May 26, 2018, in Smithfield at age 89.

Frank B. Holding, retired executive vice chairman, First Citizens BancShares, First Citizens Bank

For nearly six decades, Holding substantially contributed to the success of Raleigh, N.C.-headquartered First Citizens. His leadership, business acumen and relationship-based approach to banking significantly influenced the direction and growth of the company. He was also instrumental in the success of both the former First Citizens Bank and Trust Company of Columbia, S.C. (which merged with First Citizens Bank, based in North Carolina, in January 2015), and Southern Bank based in Mount Olive, N.C.

Working from his office at the First Citizens main branch in Smithfield, N.C., Holding never sought the spotlight; however, he was well known as a leader in the banking industry, in commerce, in community affairs and on the many boards on which he served.

Holding joined First Citizens Bank in 1956. His retirement from First Citizens on Sept. 2, 2014, marked the end of an era. He, along with his late brothers, Robert Jr. and Lewis, solidified First Citizens’ presence in North Carolina and helped build the bank into a national franchise. The bank currently has more than 500 branches in 19 states and assets of $34 billion. He also served as a valued advisor to his son, daughter and son-in-law, who lead First Citizens today.

“My father epitomized the First Citizens way of banking – he set a remarkable example for how to do business, how to treat people and how to plan for the long term,” said his son, Frank B. Holding Jr., chairman and chief executive officer of First Citizens BancShares and First Citizens Bank. “He was an exceptional banker and a dedicated civic leader who worked diligently to give back to the community. Whether he was engaged in banking or community affairs, he understood the importance of good judgment, upright character and high integrity. He ran his business and his life with those principles and helped to instill them in his family and most certainly in our company. He left a legacy at First Citizens that will continue to resonate well into the future.”

Vice Chairman Hope Holding Bryant said: “My father knew that banking is not just about dollars and cents, but about people. He was an excellent judge of character. For over six decades, he built banks, achieving his plans and realizing his dreams; but most of all, he built relationships with associates, customers and people across all social and economic backgrounds. He mentored me and many others over the years, instilling his understanding of human nature. His greatest gift was that he understood people and cared for them.”

Holding is survived by his wife, Ella Ann Lee Holding; son, Frank (Ruth E) Holding, Jr.; daughters, Hope Holding (John) Bryant, Olivia Holding, Claire Holding (Peter) Bristow, and Carson Holding (Bryan) Brice; as well as 12 grandchildren.

A visitation will be held at First Citizens Bank, 409 E. Market St., Smithfield, N.C., from 5:30 – 7:30 p.m. on Thursday, May 31.

There will be a memorial service at 2 p.m. on Friday, June 1, at Centenary United Methodist Church, 140 E. Market St., Smithfield, N.C., with Dr. Jerry Wallace presiding. The family will receive friends following the service in the fellowship hall.

In lieu of flowers, memorial donations may be made to the Johnston County Fund at the North Carolina Community Foundation, 3737 Glenwood Ave., Suite 460, Raleigh, N.C. 27612, Campbell University, 143 Main Street, Buies Creek, N.C. 27506 or a charity of choice.

Biographical Information

Frank Brown Holding was born on Dec. 7, 1928, in Smithfield, N.C., the son of Robert Powell Holding and Margaret Brown Holding. He graduated from the Darlington School in Rome, Ga., and Wake Forest College. After graduation, he served in the U.S. Coast Guard before joining First Citizens Bank in 1956. During his 58-year First Citizens career, he served in executive management and on the company board from 1962 until his 2014 retirement. Throughout his career, he made deep and continuing contributions not only to First Citizens, but also to the banking industry in the Southeast and even nationwide. The North Carolina Bankers Association inducted him into the North Carolina Banking Hall of Fame in 2013.

At the age of 36, he led the acquisition of the Anderson Bank of Dillon, S.C., which would later become First Citizens Bank and Trust Company, Inc. of South Carolina, growing that organization from a single bank to 185 branches across South Carolina and Georgia. His work in that bank and the positive impact he made across the state of South Carolina were recognized when he was awarded the Order of the Palmetto (2003), the highest civilian honor in the State of South Carolina.

While he took great pride in his work in South Carolina, his roots ran deep in North Carolina. He was heavily involved in the Southern Bank of Mount Olive, N.C., and was particularly proud of its growth and its impact in the communities it serves. Over three decades of service as a Johnston County commissioner, he was instrumental in recruiting industry to the area and driving economic growth across the region.

As a philanthropist, there were no projects too small or too large to capture his imagination. He served as a member of the boards of the North Carolina Global TransPark Foundation, the North Carolina Community Foundation, the Golden LEAF Foundation and the North Carolina State Ports Authority. He was passionate about educational institutions that prepared North Carolinians to lead productive lives and served on the Board of Trustees at Campbell University. He received honorary degrees from Campbell University and Chowan University and an Outstanding Alumnus honor (2002) and honorary law degree (2009) from Wake Forest University.

Throughout his career, Holding devoted much of his time and talents to community affairs. Together, he and his wife made substantial contributions to their community — supporting a host of civic, charitable and educational institutions.

Contact:

Barbara Thompson
First Citizens BancShares
(919) 716-2716

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/98aec317-fd9a-44cd-a6b8-c7d9aafee198