RBC CENTURA BANK CELEBRATES GROWTH, CHANGES NAME
RALEIGH, N.C. - Jan. 17, 2008 - On the heels of two acquisitions in 13 months and one more about to close, 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.