RBC Bank
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 are currently managed by a regional vice president based in North Carolina.
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
External links
- RBC Bank website