RBC Centura acquires Alabama National BanCorporation

    Deal expands RBC Centura's network to more than 440 locations throughout
    high-growth Southeastern markets

    RALEIGH, NC, Sept. 6 /CNW/ - RBC Centura Banks, Inc., a wholly owned
subsidiary of Royal Bank of Canada (RY on TSX and NYSE), and Birmingham-based
Alabama National BanCorporation (NASDAQ:   ALAB) today announced the signing of
a definitive merger agreement pursuant to which RBC Centura Banks, Inc., will
acquire Alabama National BanCorporation (ANB), parent of 11 subsidiary banks
and other affiliated businesses in, Alabama, Florida and Georgia.
    Under the agreement, shareholders of ANB will receive $80 per share
payable in cash, RBC shares or a combination of each, valuing the deal at
approximately $1.6 billion, with the total transaction consideration
consisting one half of cash and one half of RBC shares. The acquisition is
subject to customary closing conditions, including approval by U.S. and
Canadian regulators and by ANB shareholders. The transaction, scheduled to
close in early 2008, is expected to make a significant contribution to RBC
Centura's revenue growth in the near term and be accretive to RBC earnings in
    "This acquisition positions RBC Centura even better to serve the banking
needs of businesses, business owners and professionals in the Southeast," said
Scott Custer, chairman and chief executive officer of RBC Centura. "This deal
strengthens our ability to reach more customers in the region by expanding our
branch network to more than 440 locations, solidifying our market position in
Alabama and opening new and important markets in Florida, and increasing our
presence in Atlanta.
    "By adding 45 locations in Alabama, 45 locations in Florida and 13
locations in Georgia, the acquisition of ANB is a logical step for RBC Centura
to gain market share in the Southeast," Custer said.
    "I am very pleased to have ANB join forces with RBC," said John H.
Holcomb III, ANB Chairman and CEO. "Our company's success over the years can
be attributed to the talented individuals we've hired and who have joined us
from acquisitions. Similarly, I'm excited about the prospect of future success
as our team joins RBC and leverages the cultural and geographic fit between
our organizations and as we become part of one of North America's leading
financial service organizations."
    "This acquisition reflects RBC's stated approach to expand strategically
in the U.S." Custer said. "We are continuing to pursue investments that will
grow our business in high growth markets and bring diverse service offerings
and capabilities to new and existing customers."
    Under the agreement, RBC Centura will acquire ANB, which includes 11 bank
subsidiaries with 103 banking centers, eight mortgage/loan offices and 124
ATMs. As of June 30, 2007, ANB had assets of $7.9 billion, deposit balances of
$5.8 billion and loans of $5.7 billion. Upon completion of the transaction,
RBC Centura will surpass $33 billion in assets and will grow to 85 locations
in Alabama, 89 locations in Florida and 68 in Georgia.
    The transaction extends RBC's growing U.S. financial services platform
focused on banking and wealth management. In addition to RBC Centura, RBC's
U.S. operations include: RBC Dain Rauscher, a full-service securities firm
headquartered in Minneapolis; RBC Insurance, a national provider of insurance
protection and asset accumulation solutions based in Greenville, S.C.; RBC
Capital Markets, with corporate and investment banking operations in New York,
Minneapolis, Greenwich and other select U.S. locations; and Global Private
Banking with offices in New York, Miami, Houston and San Francisco.

    About ANB

    ANB is a bank holding company operating 103 banking locations through
eleven bank subsidiaries in Alabama, Florida and Georgia. Alabama subsidiaries
include: First American Bank in north central Alabama; Alabama Exchange Bank
in Tuskegee; and Bank of Dadeville. Florida subsidiaries are: Indian River
National Bank in Vero Beach; 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; and Millennium Bank in Gainesville. ANB has two subsidiaries in
Georgia: Georgia State Bank and The Peachtree Bank, both in metropolitan
Atlanta. ANB provides full banking services to individuals and businesses.
Commercial mortgage services, including the origination of permanent
commercial real estate mortgage loans for various lenders, are provided by
Byars and Company, a division of First American Bank. Brokerage services are
provided to customers through First American Bank's wholly owned subsidiary,
NBC Securities, Inc. Investments are not bank guaranteed, not FDIC insured and
may lose value.

    About RBC Centura Banks, Inc.

    RBC Centura offers a wide range of financial services and advice,
including a complete line of banking, investment, loan, mortgage, life
insurance, and other services, to individuals, businesses and public
institutions throughout the Southeast. RBC Centura's multifaceted 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. RBC Centura Banks, Inc. is a wholly owned subsidiary of Royal Bank
of Canada (RY on TSX and NYSE). Additional information about RBC Centura may
be found at www.rbccentura.com.

    About RBC

    Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate
under the master brand name of RBC. We are Canada's largest bank as measured
by assets and market capitalization and one of North America's leading
diversified financial services companies. We provide personal and commercial
banking, wealth management services, insurance, corporate and investment
banking and transaction processing services on a global basis. Our corporate
support team enables business growth with expert professional advice and
state-of-the art processes and technology. We employ approximately 70,000
full- and part-time employees who serve more than 15 million personal,
business, public sector and institutional clients throughout offices in North
America and 34 countries around the world. For more information, please visit

               Safe Harbor Regarding Forward-Looking Statements

    Certain statements contained in this press release may be deemed to be
forward-looking statements under certain securities laws, including the "safe
harbor" provisions of the United States Private Securities Litigation Reform
Act of 1995 and in any applicable Canadian securities legislation, and RBC and
Alabama National BanCorporation ("ANB") intend that such forward-looking
statements be subject to the safe-harbor created thereby. The words "may,"
"could," "should," "would," "will", "suspect," "outlook," "believe," "plan,"
"anticipate," "estimate," "expect," "intend," "forecast", and words and
expressions of similar import are intended to identify forward-looking
    By their very nature, forward-looking statements involve numerous
assumptions, and inherent risks and uncertainties, both general and specific,
and risks exist that predictions, expectations, projections and other
forward-looking statements, including statements about the proposed
acquisition of ANB by RBC Centura, will not be achieved. We caution readers
not to place undue reliance on these statements as a number of important
factors could cause our actual results to differ materially from the beliefs,
plans, objectives, expectations, anticipations, estimates and intentions
expressed in such forward-looking statements. These factors include, but are
not limited to the possibility that the proposed transaction does not close
when expected or at all because required regulatory, shareholder or other
approvals are not received or other conditions to the closing are not
satisfied on a timely basis or at all, that RBC Centura and ANB may be
required to modify the terms and conditions of the proposed transaction to
achieve regulatory or shareholder approval, or that the anticipated benefits
of the transaction are not realized as a result of such things as the strength
of the economy and competitive factors in the areas where ANB does business;
the impact of changes in the laws and regulations regulating financial
services and enforcement thereof (including banking, insurance and
securities); judicial judgments and legal proceedings; RBC Centura's ability
to complete the acquisition of ANB and to integrate it with RBC Centura
successfully; reputational risks, and other factors that may affect future
results of Royal Bank of Canada, RBC Centura and ANB, including changes in
trade policies, timely development and introduction of new products and
services, changes in tax laws, and technological and regulatory changes. We
caution that the foregoing list of important factors is not exhaustive.
    Royal Bank of Canada, RBC Centura and ANB assume no obligation to update
the forward-looking statements contained in this press release.

For further information:

For further information: Media Contacts: Kristen Doherty, RBC Centura,
(919) 788-6076; Jackie Braden, RBC, (416) 974-2124; Will Matthews, ANB, (205)
583-3650; Investor contacts: Marcia Moffat, Investor Relations, RBC, (416)
955-7803; Bill Anderson, Investor Relations, RBC, (416) 955-7804; For general
investor relations information please visit www.rbc.com/investorrelations;
Will Matthews, ANB, (205) 583-3650

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