National Bank of Commerce

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This article is about the current bank of this name. For the National Bank of Commerce of 1965–2005, see First American Bank.
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The National Bank of Commerce (previously known as Red Mountain Bank) was a bank headquartered at 813 Shades Creek Parkway which had 2 branches in the Birmingham area.

Red Mountain Bank was founded in Hoover in June, 2004, by Mike Washburn and a group of investors and community leaders under the Americus Financial Services holding company. Red Mountain Bank's first office was opened just off US Highway 280 in the Inverness area of Hoover at 5 Inverness Center Parkway.

Red Mountain Bank's second Birmingham branch at 1906 Cahaba Road in English Village opened in 2008. The design of that office, created by GA Architecture Studio, won a Merit Award for Commercial Architecture from AIA Birmingham. Other branches are located in Huntsville, Fairhope and Opelika.

In March 2009 the bank entered into an agreement with the Comptroller of the Currency to reduce its exposure to credit risk and boost its financial stability.

In October 2010 the Charles Investment Group made up of former executives of Alabama National BanCorporation, invested $58 million into the bank, becoming majority shareholder and establishing the National Commerce Corporation as a holding company. John Holcomb III was named CEO with Richard Murray IV as president and COO. In October the bank adopted the name of the long-time community bank "National Bank of Commerce" (which had been renamed First American Bank before becoming part of RBC Bank).

In 2011 National Bank of Commerce returned to profitability. The bank renovated the 10,500 square-foot Brownell Travel building on Shades Creek Parkway in Mountain Brook for its 32 employees which were previously in leased spaces in Inverness.

NBC's agreement with federal regulators was lifted in March 2012, and by April the bank topped $500 million in assets. The holding company acquired the United Group Banking Company of Florida and its Orlando-based United Legacy Bank in 2014, edging the corporation's total bank holdings over $1 billion. In 2018 NBC's parent, National Commerce Corp. acquired the Premier Community Bank of Florida, which it planned to continue operating as a separate division.

In late 2018 National Bank of Commerce announced its acquisition by CenterState Bank of Davenport, Florida, effective in the second quarter of 2019.

References

  • Ekman, Jennifer (September 2004) "Birth of a Bank". Business Alabama
  • "Red Mountain Bank becomes National Bank of Commerce" (October 31, 2010) Birmingham Business Journal
  • Hubbard, Russell (April 19, 2011) "National Bank of Commerce to move." The Birmingham News
  • Cole, Anrenise (May 18, 2012) "NBC emerges from regulatory action." Birmingham Business Journal
  • Diel, Stan (June 10, 2014) "Birmingham's National Bank of Commerce to acquire Florida-based bank." The Birmingham News
  • Coker, Angel (March 21, 2018) "Birmingham bank makes another acquisition in Florida." Birmingham Business Journal
  • Thornton, William (November 26, 2018) "CenterState Bank acquires National Commerce Corp." The Birmingham News

External Links