RBC Bank
 |
|
| Subsidiary | |
| Fate | Acquisition by PNC Financial Services |
| Founded | 2 November 1990 Rocky Mount, North Carolina |
| Defunct | 2012 |
| Headquarters | Raleigh, North Carolina [1] |
|
Area served
|
Southeastern United States |
| Parent | Royal Bank of Canada, PNC |
| Website | rbcbank.com |
RBC Bank, was the United States-based retail banking division of the Royal Bank of Canada. The headquarters for the bank were in Raleigh, North Carolina. Banking centers and automated teller machines were located throughout the Southeastern United States. The company's largest operations were in North Carolina and Alabama.
On June 19, 2011, PNC Financial Services agreed to buy RBC Bank USA from Royal Bank of Canada for $3.45 billion. The sale of RBC Bank closed in March 2012. Upon acquisition, all RBC Bank branches were rebranded as PNC branches and the RBC Bank brand became dormant for US customers. (RBC created a new unit with the same name, based in Georgia, to serve Canadian customers who wintered in the southern U.S.) The company would later return to the U.S. in 2015 with its acquisition of City National Bank in California. As of 2017, this subsidiary continues to operate under ito original name.
On November 2, 1990, Peoples Bancorp and Planters Corp., of Rocky Mount, North Carolina, merged to form Centura Banks. In June 2001, Royal Bank of Canada acquired Centura Banks and rebranded them as RBC Centura. RBC announced on January 17, 2008, that it would abandon the "Centura" brand in April 2008 and the unit would operate as RBC Bank. Over 1000 employees continued to work in Rocky Mount as of 2011, in such areas as information technology and mortgage processing.
On June 19, 2011, PNC Financial Services agreed to purchase RBC bank for $3.45 billion. The purchase price represented a $112 million discount to the book value of the unit. BB&T Bank also made a bid.
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