RBC Bank: Difference between revisions
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RBC entered [[Alabama]] in [[2007]] with the purchase of branches divested from the [[AmSouth]]/[[Regions]] merger in [[Tuscaloosa]], Huntsville and Mobile. To further its Alabama and Florida presence, it acquired the 100-branch [[Alabama National BanCorp]], which operated in Birmingham as [[First American Bank]]. The deal, which was valued at 50% above the the previous day's closing share price, was announced in September [[2007]]. Regulators approved the deal in January [[2008]] and operational conversion was completed on [[June 20]], 2008. | RBC entered [[Alabama]] in [[2007]] with the purchase of branches divested from the [[AmSouth]]/[[Regions]] merger in [[Tuscaloosa]], Huntsville and Mobile. To further its Alabama and Florida presence, it acquired the 100-branch [[Alabama National BanCorp]], which operated in Birmingham as [[First American Bank]]. The deal, which was valued at 50% above the the previous day's closing share price, was announced in September [[2007]]. Regulators approved the deal in January [[2008]] and operational conversion was completed on [[June 20]], 2008. | ||
During [[2009]] the bank restructured its operations, removing upper level executives from its Birmingham operation. Former Alabama National CEO [[John Holcomb III|John Holcomb]] retired, CFO [[Will Matthews]] and vice president [[Robert Aland]] left. The bank's Alabama offices | During [[2009]] the bank restructured its operations, removing upper level executives from its Birmingham operation. Former Alabama National CEO [[John Holcomb III|John Holcomb]] retired, CFO [[Will Matthews]] and vice president [[Robert Aland]] left. The bank's Alabama offices were afterward managed by a regional vice president based in North Carolina. | ||
In the Summer of [[2011]] RBC's trust department, based in Birmingham, was acquired by the Tupelo, Mississippi-based [[Renasent Bank]]. | |||
==References== | ==References== | ||
* Hubbard, Russell (July 1, 2009) "Royal Bank of Canada executive James Westlake says bank is in Alabama to stay and plans to grow." ''Birmingham News'' | * Hubbard, Russell (July 1, 2009) "Royal Bank of Canada executive James Westlake says bank is in Alabama to stay and plans to grow." ''Birmingham News'' | ||
* Cole, Antrenise (June 29, 2011) "Renasant Bank enters agreement to acquire RBC Trust Dept.." ''Birmingham Business Journal'' | |||
==External links== | ==External links== | ||
Revision as of 18:24, 29 June 2011
RBC Bank, formerly RBC Centura Bank, is the American subsidiary of the Royal Bank of Canada. RBC Bank is headquartered in Raleigh, North Carolina and has banking offices in Alabama, District of Columbia, Delaware, Florida, Georgia, Kentucky, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. Royal Bank of Canada originally entered the United States with the purchase of Raliegh's Centura Bank, and re-named the institution RBC Centura. That name was shortened to RBC Bank in spring 2008.
RBC entered Alabama in 2007 with the purchase of branches divested from the AmSouth/Regions merger in Tuscaloosa, Huntsville and Mobile. To further its Alabama and Florida presence, it acquired the 100-branch Alabama National BanCorp, which operated in Birmingham as First American Bank. The deal, which was valued at 50% above the the previous day's closing share price, was announced in September 2007. Regulators approved the deal in January 2008 and operational conversion was completed on June 20, 2008.
During 2009 the bank restructured its operations, removing upper level executives from its Birmingham operation. Former Alabama National CEO John Holcomb retired, CFO Will Matthews and vice president Robert Aland left. The bank's Alabama offices were afterward managed by a regional vice president based in North Carolina.
In the Summer of 2011 RBC's trust department, based in Birmingham, was acquired by the Tupelo, Mississippi-based Renasent Bank.
References
- Hubbard, Russell (July 1, 2009) "Royal Bank of Canada executive James Westlake says bank is in Alabama to stay and plans to grow." Birmingham News
- Cole, Antrenise (June 29, 2011) "Renasant Bank enters agreement to acquire RBC Trust Dept.." Birmingham Business Journal
External links
- RBC Bank website