Industry | Finance and Insurance |
---|---|
Founded | 1986 |
Defunct | February 25, 2008 |
Fate | Merged with RBC Bank |
Successor | RBC Bank |
Headquarters | Birmingham, Alabama, United States |
Key people | John H. Holcomb, III, Chief Executive Officer |
Products | Financial services |
Number of employees | 1,789 (2006) |
Alabama National BanCorporation based in Birmingham, Alabama, was a bank holding company which was purchased by RBC Bank in 2008 for $1.6 billion. Prior to the RBC deal, the bank was the no. 3 banking company in Alabama with over $7 billion assets.[ citation needed ]
National Bank of Commerce of Birmingham started in 1965 as a family-owned community bank. It was first publicly traded in 1995.
First American Bank of Decatur, Alabama started in 1981. That same year, James A. Taylor bought First National Bank of Ashland. After three more acquisitions, Taylor started a holding company of which he became chairman. By 1993, two more banks and a savings and loan had become part of Alabama National BanCorporation. In 1994, the company added two more banks and $100 million in assets. Later that year, the company received $10 million from its initial public offering. In 1995, National Bank of Commerce, with $130 million more in assets, became a subsidiary of Alabama National after NBC won a deal for a savings and loan. Alabama National also started a bond business after AmSouth closed its bond division. [1]
Alabama National took over First American in 1997, [2] when First American had $223 million in assets and Alabama National had $929 million, ranking sixth in Alabama. Also in 1997, Alabama National entered Florida by opening Citizens & Peoples Bank in Escambia County.
In 1998, Alabama National added two more Florida banks and entered Georgia. The company bought Georgia State Bank of Mableton, with $124 million in assets.
First American Bank bought Rankin Insurance Inc. in 1999. [1]
In 2000, chairman and CEO John H. Holcomb III said, "In the last five years, Alabama National has approximately tripled in size, while continuing to have a very strong performance record." [3]
With the addition of Peoples State Bank of Groveland, Florida in 2001, with $130 million in assets, Alabama National had $2.2 billion in assets and eleven banks which continued to use their own names.
During 2002, insurance subsidiary ABA Insurance Services Inc. bought agencies in Alabama in Florida. The bank holding company had $3.2 billion in assets and 62 branches.
After buying Indian River Banking Company of Vero Beach ($520 million in assets), Cypress Bancshares Inc. ($110 million) of Palm Coast and Millennium Bank of Gainesville ($130 million), Alabama national had $1.4 billion in Florida assets, and $3.9 billion in total assets. [1]
In October 2004, Alabama National announced a deal with National Bank of Commerce which would give First American $2.5 billion in assets and 33 locations. In much of Alabama, the company would operate as First American. First American Bank had 16 locations before the merger, and James "Skip" Thompson III of Decatur, previously First American president and COO, became that bank's new CEO. After the merger, First American's loan operations moved to Birmingham. Also, First Citizens Bank of Talladega became part of First American in May 2005. [4]
In Florida and southern Alabama, First Gulf Bank of Pensacola, Florida and First Gulf Bank of Baldwin County became First Gulf Bank. [5]
In 2005, Alabama National announced that it agreed to buy Florida Choice Bank of Mount Dora, with $325 million in assets, and six locations with plans for two more. The deal gave Alabama National 10 subsidiaries with 85 locations. [6]
In 2008, RBC Bank bought Alabama National for $1.6 billion, adding 45 locations each in Alabama and Florida, and 13 in Georgia. [7] Alabama National had $7.9 billion in assets. [8] The deal became final February 26, 2008. [2] At the time, Alabama National operated these subsidiaries:
On March 4, 2012, all RBC Bank branches became PNC Bank branches, after PNC Financial Services' acquisition of RBC's American assets.
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through multiple iterations. Its oldest predecessor companies had been Commercial National Bank (CNB), formed in 1874, and American Trust Company founded in 1909. In 1998, NationsBank acquired BankAmerica, and modified that better-known name to become Bank of America.
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.
SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. The bank's most direct corporate parent was established in 1891 in Atlanta, where it was headquartered.
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of June 2021, it is the 10th largest bank with $509 billion in assets. As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world with $2.27 billion in annual revenue.
AmSouth Bancorporation was a banking company headquartered in Birmingham, Alabama, and operated for its final year in existence as a bank holding company (subsidiary) of Regions Financial Corporation after a merger between the two banks. AmSouth was previously known as First National Bank of Birmingham, which was first organized by Charles Linn in 1872. AmSouth was in the financial services industry and at its peak employed over twelve thousand people.
BBVA USA was a bank headquartered in Birmingham, Alabama. It was a subsidiary of Banco Bilbao Vizcaya Argentaria from 2007 until 2021, when it was acquired by PNC Financial Services. It operated mainly in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. The bank was earlier named Central Bank and Trust Company, Central Bank, Central Bancshares of the South, and Compass Bancshares.
SouthTrust Corporation was a banking company headquartered in Birmingham, Alabama. In 2004, SouthTrust reached an agreement to merge with Wachovia in a stock-for-stock deal. At the time of the merger with Wachovia was completed, SouthTrust had $53 Billion in assets. SouthTrust was listed on the NASDAQ exchange under the ticker symbol SOTR. The company was headquartered in the SouthTrust Tower, now known as the Shipt Tower. SouthTrust had branches in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. By the end of 2005, all former SouthTrust branches that remained open carried the Wachovia name.
RBC Bank is the trading name of RBC Bank (Georgia), N.A., the United States-based retail banking division of the Royal Bank of Canada (RBC) which is targeted toward Canadian snowbirds, expatriates, and frequent tourists. Despite its limited reach, RBC Bank is a federally chartered bank, thus its trading name bears "N.A." letters.
Regions Financial Corporation is a bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail banking and commercial banking, trust, stockbroker, and mortgage services. Its banking subsidiary, Regions Bank, operates 1,952 automated teller machines and 1,454 branches in 16 states in the Southern and Midwestern United States.
H.F. Ahmanson & Co. was a California holding company named after millionaire Howard F. Ahmanson Sr. It was best known as the parent of Home Savings of America, once one of the largest savings and loan associations in the United States.
Wilmington Trust is one of the top 10 largest American institutions by fiduciary assets. Wilmington Trust is currently a provider of international corporate and institutional services, investment management, and private banking. The firm was founded on July 8, 1903, as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. In 2010, it became a subsidiary of M&T Bank.
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that existed from 1853 to 2001. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
Mercantile Bancorporation was the largest bank holding company in Missouri when it was acquired by Firstar Corporation in 1999.
United Community Banks, Inc. is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the largest full-service financial institutions in the Southeast, with $18.6 billion in assets, and 161 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. United Community Bank, United's wholly owned bank subsidiary, specializes in personalized community banking services for individuals, small businesses and companies throughout its geographic footprint, including Florida under the brand Seaside Bank and Trust. Services include a full range of consumer and commercial banking products, including mortgage, advisory, treasury management, and wealth management.
National Bank of Commerce was a bank headquartered in Memphis, Tennessee until it was taken over by SunTrust Banks in 2005.
As of July 2020, IBERIABANK was acquired by First Horizon Corporation. For more information, see the page for First Horizon Corporation or First Horizon Bank.
Centura Bank was a bank headquartered in Rocky Mount, North Carolina. It existed from 1990, when Peoples Bancorp and Planters Bank merged, to 2001, when the Royal Bank of Canada acquired the company and changed its name to RBC Centura.
MidFlorida Credit Union, founded in 1954, is a credit union based in Lakeland, Florida. MidFlorida has 58 locations throughout the state of Florida, 421,180 members and $6.05 billion in assets as of December 31, 2021, making MidFlorida the fourth-largest credit union in the state of Florida. MidFlorida Credit Union is regulated by the National Credit Union Administration (NCUA) as a federally insured state-chartered credit union. MidFlorida was officially chartered in 1935 and was assigned NCUA charter number 68600.
Bank OZK is a regional bank headquartered in Little Rock, Arkansas with more than 250 locations in ten states: Arkansas, Georgia, Florida, Texas, North Carolina, South Carolina, California, New York and Mississippi and $23.55 billion in assets as of December 31, 2019. Bank OZK is concentrated in the southeastern U.S., with 25 or more branches in four states: Arkansas, Georgia, Florida, and North Carolina.
South State Bank , based in Winter Haven, Florida, is an American bank based in Florida and a subsidiary of South State Corporation, a bank holding company. As of December 31, 2018, the company had 168 branches in South Carolina, North Carolina, Georgia, and Virginia.