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Press Release

 

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 430 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.

For additional information:

Jamie Mitchell/RBC Bank
Manager, Media Relations
919-788-5613
jamie.mitchell@rbc.com