RALEIGH, NC, Jan. 17 /CNW/ - On the heels of two acquisitions in
13 months and one more pending, RBC Centura Bank today announced plans to
change the company's name to RBC Bank (USA) this spring and will operate under
the trade name RBC Bank at that time.
"RBC is one of the largest and most stable financial institutions in
North America, and we're proud to be part of the RBC family of companies. As
we grow it's more important than ever to build brand awareness in the U.S. and
represent the global brand, company and voice of RBC," said Scott Custer, RBC
Centura Chairman and CEO. "For those reasons and to celebrate our growth,
we're excited to announce our name change."
RBC Centura has been a wholly owned subsidiary of Royal Bank of Canada
(RBC) since 2001. RBC is one of the largest financial institutions in North
America, providing banking, insurance, builder finance products, full-service
brokerage, and corporate and investment banking services to approximately
2 million clients in the U.S. and 15 million worldwide.
The official name change will occur in April. Customer accounts will not
be affected as part of this change and there is no action required by
customers. Until that time the bank will operate as RBC Centura.
Banking center signs will be changed to RBC Bank over a period of time,
once the change is effective in April. The first RBC Bank signs will appear
after the close of the Alabama National Bancorporation (ANB) transaction
(pending regulatory and shareholder approval). At the time of conversion (in
April and June) the former ANB banking center locations in Alabama, Florida
and Georgia will change to RBC Bank. In addition, several banking centers in
close proximity to those locations will also change. In other markets, such as
North Carolina, RBC Centura signs will remain for a period of time as the bank
makes the transition.
"The change to RBC Bank still means the best of both worlds for our
employees and customers," said Custer. "Customers will continue to receive the
service, personal attention and local decision making of a regional bank -
plus the expanded products and resources of one of North America's largest
banks. In addition, the name change will help grow our business by building
brand awareness and image to retain and attract clients."
In the United States, RBC provides service to clients through RBC Centura
Bank, RBC Insurance, RBC Dain Rauscher and RBC Capital Markets. RBC has nearly
2 million clients and 12,000 employees across the U.S. and strives to be an
integral part of each community it serves.
In North America, RBC's scale reaches nearly 1,500 banking centers - with
more than 430 in the Southeastern U.S. - and more than 4,400 ATMs.
Worldwide, RBC has 70,000 full- and part-time employees serving
15 million clients through offices in North America and 34 countries around
the globe. RBC offers a full range of financial products and services of
personal and commercial banking, wealth management services, insurance,
corporate and investment banking and transactions processing services on a
global basis. Operating since 1869, RBC has more than US$554.2 billion in
assets and one of the highest credit ratings of any financial institution -
Moody's AAA and Standard & Poor's AA-.
To arrange an interview with RBC Centura Bank executives or regional
leaders, contact: Jamie Mitchell at 919-788-5613 or Jamie.Mitchell@rbc.com.
For nearly 20 years, Centura has been an important part of the bank's
name. It was developed in 1990 when the bank was formed from the merger of
Rocky Mount, North Carolina-based Peoples Bancorp and Planters Corp., two
regional bank holding companies with a combined century-long heritage.
"Centura" was coined from the root words for "century" and "future" and has
represented the bank's strong history in the Southeast as well as future
growth. In 2001, the bank added the letters "RBC" to its name when it was
acquired by Royal Bank of Canada. While we are retiring the "Centura" name,
the change to RBC Bank still means the best of both worlds for our clients.
They'll continue to receive the service, personal attention, and local
decision making of a regional bank - plus the expanded products and resources
of one of North America's largest, most stable banks.
About RBC Centura
RBC Centura, headquartered in Raleigh, N.C., offers a wide range of
financial services and advice, including a complete line of banking, and
mortgage services to individuals, businesses and public institutions
throughout the Southeast. RBC Centura's multi-faceted customer access network
includes more than 340 full-service banking centers, an extensive ATM network,
and telephone and Internet banking. In addition, RBC Centura offers builder
finance products through its RBC Builder Finance division. According to SNL
Financial, RBC Centura is the 45th largest U.S. bank based on assets as of
August 2007. In April 2008, RBC Centura will change its name to RBC Bank. RBC
Centura Banks Inc. is a wholly-owned subsidiary of Royal Bank of Canada (RBC)
(NYSE, TSX: RY), Canada's largest bank as measured by assets and one of the
world's financial, social and environmental corporate leaders for the past
eight years as on the Dow Jones Sustainability World Index. Additional
information about RBC Centura may be found at www.rbccentura.com.
For further information:
For further information: Jamie Mitchell, RBC Centura, (919) 788-5613,