News & Observer | newsobserver.com | RBC Bank: A history

Published: Jun 08, 2008 12:30 AM
Modified: Jun 08, 2008 05:33 AM

RBC Bank: A history

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November 1990 - Peoples Bancorp and Planters Corp. form Centura Banks, Inc.

1992-1996 - Centura expands through acquisitions of Orange Federal Savings Bank, First South Bank, others.

March 1998 - Expands into South Carolina with the acquisition of Pee Dee State Bank.

October 1999 - Centura signs as lead tenant at Highwoods Properties' campus in North Raleigh, taking up 65,000 square feet.

May 2000 - Centura signs long-term lease in Rocky Mount -- space for top executives, human resources, legal, community development and other departments -- in an old Hardee's headquarters.

October 2000 - Centura moves its money-management and computer support departments to Raleigh.

June 2001 - Centura Banks is acquired by Royal Bank of Canada; the bank is renamed RBC Centura; H. Kel Landis III named CEO.

July 2002 - Expands into Georgia with the acquisition of Eagle Bancshares.

September 2002 - RBC Centura buys the naming rights of the former Entertainment and Sports Arena in Raleigh for $80 million.

January 2003 - Opens in the Florida market with the acquisition of Admiralty Bancorp.

November 2003 - Expands presence in Florida with purchase of the operations of Provident Financial Group.

October 2004 - Landis steps down as CEO as part of a broader management shake-up; Scott Custer is named CEO of RBC Centura.

November 2004 - RBC Centura eliminates 180 jobs, mainly in upper management roles, at its headquarters in Rocky Mount.

December 2004 - The bank reports its largest quarterly loss because of one-time charges and restructuring costs.

August 2005 - RBC Centura officials announce that they will move their headquarters to Raleigh.

August 2006 - Wake County and Raleigh officials give RBC Centura $750,000 for moving its headquarters to downtown Raleigh.

October 2006 - Highwoods Properties breaks ground on RBC Centura's new headquarters building in Raleigh, RBC Plaza.

December - 2006RBC acquires Flag Financial to expand in the Atlanta area.

March 2007 - Expands into Alabama with the acquisition of 39 AmSouth branches.

Feb 2008 - Acquires Alabama National BanCorp.

April 2008 - RBC Centura changes its name to RBC Bank.

(COMPILED BY NEWS RESEARCHER BECKY OGBURN, FROM STAFF REPORTS AND RBC CENTURA)

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