RBC Bank celebrates name change
Conversion to RBC Bank from RBC Centura Underway
Raleigh, N.C. - April 4, 2008 — RBC Centura
Bank today announced that it will begin operating as RBC Bank
following the change of its legal name to RBC Bank (USA) effective
today, emphasizing the bank's connection to its parent company
as part of RBC's global brand strategy and a message of overall
stability and growth. Last month, RBC Dain Rauscher announced
the change of its brand name to RBC Wealth Management.
"We announced our plan to change our name in January,
which came on the heels of three acquisitions in the past
18 months and with our headquarters' grand opening in Raleigh
just a few months away," said Scott Custer, RBC Bank
chairman and CEO. "We have embraced many changes as we
have grown in the past year, and becoming RBC Bank marks a
pivotal time in our history."
The name change will be part of a phased transition over
time. Client accounts will not be affected as part of this
change and there is no action required by clients.
As part of the bank's transition, RBC Bank also unveiled
its new Web site to the public today. The newly designed site
was built based on user input and includes a fresh new look,
more client-focused content and easier navigation. The site
URL is www.rbcbankusa.com.
RBC Bank's holding company recently completed its acquisition
of Alabama National BanCorporation (ANB), where RBC Bank will
acquire more than 100 total banking centers including 45 locations
in Alabama, 45 locations in Florida and 13 locations in Georgia.
The conversion process will occur in two phases - banking
centers in Georgia and Florida will convert April 11-13 and
banking centers in Alabama and the Pan Handle will convert
June 20-22. These markets will be the first to get new RBC
Bank signs amid complete transition to the RBC Bank name and
brand.
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 Bank and Trust Company and Planters National Bank
and Trust Company, two regional banks 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.
In addition to RBC Bank, RBC's U.S. operations include: RBC
Wealth Management, serving high net worth clients nationally
and internationally; RBC Capital Markets, the corporate and
investment banking arm of RBC; and RBC Insurance, a national
provider of insurance protection and asset accumulation solutions.
About RBC Bank
RBC Bank, 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 Bank'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 Bank offers
builder finance products through its RBC Builder Finance division.
RBC Bank 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 reported on
the Dow Jones Sustainability World Index. Additional information
about RBC Bank may be found at www.rbcbankusa.com.
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For more information:
Jamie Mitchell 919-788-5613
Jamie.Mitchell@rbc.com
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