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RBC Centura Bank celebrates growth, changes name
RALEIGH, N.C., January 17, 2008 — 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-.
Interview Opportunities
To arrange an interview with RBC Centura Bank executives or
regional leaders, contact: Jamie Mitchell at 919-788-5613
or Jamie.Mitchell@rbc.com.
Background
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.
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For more information:
Jamie Mitchell/RBC Centura
(919) 788-5613
Jamie.Mitchell@rbc.com
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