Surry Business

For and about business in Surry County, N.C., including Dobson, Elkin, Lowgap, Pilot Mountain and Mount Airy

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RBC Centura buying Alabama bank holding company

September 7th, 2007 · No Comments

Raleigh-based RBC Centura Inc. (NYSE: RY), a subsidiary of the Royal Bank of Canada, is buying Alabama National BanCorp. in a $1.6 billion cash-and-stock purchase that continues the bank’s growth in the Southeast.

RBC Centura will acquire 45 full-service branch banks in Alabama, 45 in Florida and 13 in the Atlanta area.

In the past year, RBC Centura has added 39 branches by buying Alabama-based AmSouth Bancorp. and 17 by purchasing Georgia’s Flag Financial Corp.

After this latest sale closes, RBC Centura will have $33 billion in assets and more than 440 branches including these in Surry County:

— Granite Town Centre, 1000 U.S. 52, Mount Airy

— Mount Airy Main, 501 N. Main, Mount Airy

— Pilot Mountain Main, 101 Golf Course Road, Pilot Mountain

Tags: Businesses · Finance

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