RBC Centura Banks, Inc. today announced completion of its acquisition of Alabama National BanCorporation (ANB), parent of 10 subsidiary banks and other affiliated businesses in Alabama, Florida and Georgia.
“This acquisition puts RBC Centura in position to better serve the banking needs of businesses, business owners and professionals in the Southeast,” says Scott Custer, chairman and CEO of RBC Centura. “By doubling our presence in both Alabama and Florida as well as adding 13 locations in Georgia, the acquisition of ANB is a logical step for RBC Centura to gain market share in the Southeast.”
As the ANB banks are merged with RBC Centura Bank, subject to receipt of all necessary regulatory approvals, RBC Centura will brand the ANB banks as RBC Bank as part of its bank-wide name change planned to begin in early April.
“This deal strengthens our ability to reach more customers in the region by expanding our branch network, solidifying our market position in Alabama and opening new and important markets in Florida, and increasing our presence in Atlanta,” Custer said.
As a result of the transaction, RBC Centura adds 103 banking locations operated through 10 ANB bank subsidiaries in Alabama, Florida and Georgia:
- First American Bank in north central Alabama;
- Alabama Exchange Bank in Tuskegee;
- Indian River National Bank in Vero Beach, Florida;
First Gulf Bank, N.A. in Escambia County, Florida and Baldwin County, Alabama;- Florida Choice Bank in Central Florida including metro Orlando;
- Community Bank of Naples, N.A.;
- Cypress Coquina Bank in Ormond Beach;
- Millennium Bank in Gainesville;
- Georgia State Bank in metropolitan Atlanta; and
- The Peachtree Bank, in metropolitan Atlanta.
RBC Centura is a wholly owned subsidiary of Royal Bank of Canada.