Thirteen former Florida branches of Cincinnati's Provident Financial Group Inc. reopened Monday as Royal Bank of Canada's RBC Centura Bank.
The Rocky Mount, N.C., company paid a premium of $80 million for the branches. The purchase, which closed Friday, gives Royal Bank's U.S. retail bank an additional $856 million of deposits and $371 million of loans.
Royal Bank of Canada has been expanding across the Southeast ever since entering the U.S. retail banking market with the 2001 purchase of what was then known as Centura Banks Inc. Executives have said they are continuing to shop in the Southeast for more bank acquisitions.
