Alabama National BanCorporation

Alabama National BanCorporation (formerly National Bank of Commerce) was the Birmingham-based holding company for eleven bank subsidiaries with a combined 103 locations in Alabama, Florida, and Georgia.

The National Bank of Commerce (NBC) was founded in 1965 with members of the McWane family as major depositors. The bank's holding company went public in 1995 and Phillip McWane, its largest single investor, held 1.24 million shares. It quickly acquired numerous other small banks which were merged together to form First American Bank in 2005.

On September 6, 2007, it was announced that Alabama National and its subsidiaries were being acquired by RBC Centura Bank, the U.S. subsidiary of the Royal Bank of Canada, in a $1.6 billion deal. RBC Centura had entered the state earlier in the year by acquiring some divested branches in Huntsville and Tuscaloosa from the AmSouth-Regions merger. In early 2008, RBC announced it would be dropping the "Centura" from its name, and would simply be known in the U.S. as "RBC Bank". ANB shareholders approved the merger on January 24, 2008, and received a mixture of cash and stock in the deal, which was completed on February 25. RBC completed systems conversions and signage changes in most of Florida and Georgia on April 11, and Alabama and the Florida panhandle on June 20.

Subsidiary Banks

• First American Bank, Birmingham, AL (converted June 20, 2008)
• Indian River National Bank, Vero Beach, FL (converted April 11, 2008)
• First Gulf Bank, N.A., Pensacola, FL (converted June 20, 2008)
• Florida Choice Bank, Mt. Dora, FL (converted April 11, 2008)
• Community Bank of Naples, N.A., Naples, FL (converted April 11, 2008)
• Public Bank, St. Cloud, FL (converted April 11, 2008)
• Peachtree Bank, Duluth, GA (converted April 11, 2008)
• Georgia State Bank, Mableton, GA (converted April 11, 2008)
• CypressCoquina Bank, Ormond Beach, FL (converted April 11, 2008)
• Millennium Bank, Gainesville, FL (converted April 11, 2008)
• Alabama Exchange Bank, Tuskegee, AL (converted June 20, 2008)
• Bank of Dadeville, Dadeville, AL (converted June 20, 2008)

Other Subsidiaries

• ANB Insurance Services, Inc, Birmingham, AL
• ANB Leasing Services, Birmingham, AL

References

• "Alabama National BanCorporation - History" (n.d.). Alabama National BanCorporation. Accessed October 6, 2006.
• "National Bank of Commerce Unveils New Name - Cadence Bank" (October 11, 2005). Business Wire.
• Goodman, Sherri (September 6, 2007) "Alabama National being bought for $1.6 billion." Birmingham News
• Hubbard, Russell (June 25, 2009) "Alabama ties to RBC fading." Birmingham News

External Links

• Alabama National BanCorporation website