RBC Bank, a wholly owned subsidiary of the Royal Bank of Canada (Canada’s largest financial organization), has assets of more than $33 billion and is ranked as the fifth largest bank in North Carolina. Formerly known as RBC Centura it actually became RBC Bank in April 2008.
The RBC Bank has its headquarters in Raleigh, North Carolina, and it has more than 430 banking centres in 6 states: North Carolina, South Carolina, Virginia, Georgia, Florida and Alabama.
RBC Bank has more than 6,000 employees in Texas and the Southeast.
RBC Bank Services
RBC Bank serves personal, business and corporate customers throughout the Southeast. The bank provides deposit and lending services, credit cards, online securities brokerage, asset management, insurance and retail leasing. Residential mortgages, commercial mortgages, business loans and land development loan all make a large percentage of its lending facilities.
RBC Builder Finance is a residential construction financing operation based in Houston which funds the construction of new homes through nearly 35 offices in 25 states.
RBC Bank History
In November 1990, Peoples Bancorp and Planters Corp. of Rocky Mount, North Carolina, merged to form Centura Banks. Throughout most of the 1990′s most of Centura Banks acquisitions occurred in North Carolina until March 1998 when the bank expanded into South Carolina with the acquisition of Pee Dee State Bank. In March 1999, the Centura Bank expanded into Virginia due to the acquisition of First Coastal Bank in Virginia Beach.
In 2001, Centura Bank was acquired by the Royal Bank of Canada and the entire banking organization was rebranded as RBC Centura.
The acquisition of Eagle Bancshares in July 2002 enabled the bank to expand into Georgia. By the end of 2003, it had made its presence known in the Florida market due to the acquisition of Admiralty Bancorp and the purchase of the operations of Provident Financial Group. In 2006, the acquisition of Flag Financial and Flag Bank enabled more expansion with Flag Bank branch offices joining a network of 30 RBC Centura centres already in Georgia.
In March 2007, RBC Centura expanded into Alabama with the acquisition of 39 branches of AmSouth Bank and later, in February 2008, went on the acquire Birmingham, Alabama based Alabama National Bancorporation. Alabama National Bancorporation (ANB) operated in the states Alabama, Georgia and Florida through eleven different subsidiaries.
RBC Centura Bank became RBC Bank in April 2008 and 51 of ANB’s branches were re-opened as RBC Bank, its other branches were to be converted or consolidated by June 2008.