First Charter Bank and Fifth Third Bank Donate $25,000 for Scholarships to African American Youth in Charlotte Area

Business Wire, Jan 16, 2008

Scholarships are First for Pride Entrepreneur Education Program

CHARLOTTE, N.C. -- First Charter Corporation (NASDAQ:FCTR) and Fifth Third Bancorp (NASDAQ: FITB) announced today a donation of $25,000 to Pride Entrepreneur Education Program, (PEEP), a newly formed 501(c)(3) organization in Charlotte. The funding from the banks for the scholarships will be the first scholarships PEEP will award qualifying African American youth in 2008.

The mission of PEEP is to eliminate future socio-economic disparities in the African American community by promoting education, vocation skills and entrepreneurship among youth ages 16-25. PEEP will award scholarships to students, allowing them to attend colleges, universities and recognized trade and technical schools.

PEEP will also encourage African American youths to begin preparing for their futures by providing educational curriculum including; an entrepreneur summer camp program focusing on promoting financial literacy and a mentoring program pairing successful entrepreneurs and skilled workers with African American youth.

"First Charter and Fifth Third are committed to helping individuals and organizations in our communities toward a better future," commented, Bob James, First Charter president and CEO. "We are pleased to partner with PEEP to help mentor and guide African American youth in reaching their education goals. We commend PEEP for their leadership role in bringing together education, corporate and community entrepreneurs to provide these youth with the motivation and inspiration to help realize their dreams."

Bob James currently serves as Chairman of the North Carolina Banker's Association (NCBA) and is leading a NCBA initiative to develop and implement a new financial literacy education program for schools throughout the state. First Charter has been a longtime supporter of the NCBA's sponsored Camp Challenge, providing financial resources and volunteers to the summer camp for over 600 high-achieving, under-resourced middle school students each summer. Bob James also serves on the board of the African American Cultural Center (AACC) of Charlotte and was recently awarded the Corporate Spirit of the Center award for First Charter's contribution to the AACC.

Dee Dixon, CEO of Pride Communications/Pride Magazine and founder of PEEP and her staff are absolutely thrilled about First Charter and Fifth Third's commitment to PEEP. "This act of faith is unprecedented with regard to a start-up organization," she said. "It is a testament to their belief in our program and to creating brighter futures for all of Charlotte's young people. This is an unparalleled act of corporate community involvement and as their partner, we pledge to make a positive difference in the lives of those we touch."

About First Charter

First Charter Corporation (NASDAQ: FCTR), headquartered in Charlotte, North Carolina, is a regional financial services company with assets of $4.8 billion and is the holding company for First Charter Bank. First Charter operates 60 full-service financial centers, four insurance offices, and 137 ATMs in North Carolina and Georgia, and also operates loan origination offices in Asheville, North Carolina and Reston, Virginia. First Charter provides businesses and individuals with a broad range of financial services, including banking, financial planning, wealth management, investments, insurance, and mortgages. First Charter Corporation and Fifth Third Bancorp entered in a merger agreement August 2007, which is currently pending regulatory and First Charter shareholder approvals.

About Pride Entrepreneur Education Program (PEEP)

PEEP is a not for profit organization recognized under Section 501(c)(3) Internal Revenue Code in May 2007. Its purpose is to help eliminate future socio-economic disparities in the African American community by promoting education, vocational skills and entrepreneurship among youths ages 16-25.