Alabama National BanCorporation has a rich history dating back to 1955, when it was founded as a community bank in Anniston, Alabama. The bank has since grown into a thriving financial institution.
The bank's early success can be attributed to its commitment to serving the local community, with a focus on providing personalized banking services to its customers.
In 2006, Alabama National BanCorporation was recognized as one of the top 100 community banks in the country by American Banker magazine. This achievement marked a significant milestone in the bank's history, highlighting its dedication to community banking principles.
Today, the bank continues to operate with a strong sense of community, offering a range of financial services to individuals and businesses across the state.
History
Alabama National BanCorporation has a rich history that spans over four decades. The company started as a family-owned community bank in 1965, but it wasn't until 1995 that it became publicly traded.
In 1981, James A. Taylor bought First National Bank of Ashland and laid the groundwork for Alabama National BanCorporation. By 1993, the company had acquired five banks and a savings and loan, with Taylor as its chairman.
Here's a brief timeline of the company's key milestones:
- 1981: James A. Taylor lays groundwork for Alabama bank holding company.
- 1995: Alabama National merges with National Bank of Commerce of Birmingham.
- 1997: Company buys first bank outside of home state.
- 1999: Company enters insurance business.
- 2003: Alabama National announces largest acquisition in company history.
- 2005: Internal consolidation reduces number of bank subsidiaries.
By 1998, Alabama National had entered the Florida market by opening Citizens & Peoples Bank in Escambia County, and had also expanded into Georgia by buying Georgia State Bank of Mableton. The company continued to grow through strategic acquisitions, including the purchase of Indian River Banking Company of Vero Beach in 2004.
Acquisition by RBC
RBC acquired Alabama National BanCorp. in a $1.6 billion deal.
The acquisition expanded RBC's network to over 440 locations throughout the Southeast.
RBC Centura entered the Alabama market earlier this year through a separate acquisition.
Shareholders of Alabama National BanCorp. received the equivalent of $80 per share in a cash and stock deal.
The transaction was expected to close in early 2008.
Frequently Asked Questions
Is AmSouth still in business?
No, AmSouth is no longer an independent bank, as it was acquired by Regions in 2006. However, some AmSouth branches still operate under the Regions name.
Sources
- https://www.zippia.com/alabama-national-bancorporation-careers-56795/history/
- https://www.al.com/business/2007/09/rbc_acquires_alabama_national_2.html
- https://en.wikipedia.org/wiki/Alabama_National_BanCorporation
- https://companies.jrank.org/pages/147/Alabama-National-Bancorporation.html
- https://www.investmentexecutive.com/news/industry-news/rbc-centura-completes-acquisition-of-alabama-national/
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