New banks, new names spring up in area

Sunday, December 30, 2007

By MARIAN ACCARDI

Times Business Writer marian.accardi@htimes.com

Community startups and corporate buyouts change the landscape

The financial services industry in the Huntsville area continued to experience changes in 2007 - from large bank acquisitions to the expansion of smaller, community banks.

Raleigh, N.C.-based RBC Centura, a subsidiary of Royal Bank of Canada, in March completed the conversion of 39 AmSouth Bank branches it bought in Alabama - five of those in the Huntsville area.

Then, in September, RBC Centura agreed to buy Alabama National BanCorporation, a Birmingham-based company that is the parent of 11 subsidiary banks and other businesses in Alabama, Florida and Georgia, including First American Bank. First American has 35 locations in north central Alabama, with five offices in Madison County.

The deal, valued at about $1.6 billion, is scheduled to close early next year, pending approval of U.S. and Canadian regulators.

In addition, Spanish financial giant Banco Bilbao Vizcaya Argentaria SA in September finalized its acquisition of Birmingham-based Compass Bank for $9.1 billion. Compass, which operates 415 branches in six states, has six branches in Huntsville and one in Madison.

Among the developments this year in community banking:

BancorpSouth, based in Tupelo, Miss., opened its Huntsville branch at 603 Madison St. and is renovating a building on Hughes Road in Madison and building a new branch on U.S. 72 in Huntsville, with both scheduled to open early next year.

Tuscaloosa-based Bryant Bank opened a Huntsville office in the former YMCA building at Green Street and Randolph Avenue downtown and has received the required regulatory approvals. Plans are to operate as a full-service branch the first week of 2008.

CapitalSouth Bank is building a Madison branch at 53 Hughes Road that's expected to open in late February.

Citizens Bank and Savings Co. in Russellville opened a Huntsville location at 4009 University Drive.

Citizens Bank & Trust, based in Guntersville, opened a Hazel Green branch in a modular unit and is building an office at 13870 U.S. 231/431, with plans to open the first week in February.

Eva Bank's Madison location converted from a loan office to a full-service banking branch.

First National Bank, a Pulaski, Tenn.-based bank, is preparing to open its first Alabama location at Commerce Center at Memorial Parkway and Clinton Avenue in Huntsville. An open house is scheduled for Jan. 15.

North Alabama Bank, whose main branch is in Hazel Green, opened a new branch in the Village of Providence in northwest Huntsville.

North Jackson Bank opened a branch on Sutton Road in Huntsville.

Startup Progress Bank has nearly completed the renovation of a building at 201 Williams Ave. in Huntsville for its corporate headquarters and Huntsville main office and at 255 Grant St. in Decatur. Bank organizers have received conditional approval from regulators. The scheduled opening is Feb. 4 for both locations.

Huntsville-based Redstone Federal Credit Union opened its 19th location on Alabama 53 in the Harvest area.

Athens-based Reliance Bank is building a new branch at the Village Shoppes of Madison on County Line Road in Madison.

Birmingham-based ServisFirst Bank is finalizing plans to build a new office on Enterprise Way at the entrance to Cummings Research Park to replace an office in the Village of Providence in west Huntsville.

Birmingham-based SouthPoint Bank opened a new Huntsville loan-production office at 201 Eastside Square.

Birmingham-based Superior Bank opened a Hampton Cove branch at U.S. 431 South and Sutton Road and a regional commercial banking center at its 312 Clinton Ave. location. A building on U.S. 72 in Athens was purchased and is now being renovated, and that branch is scheduled to open in early 2008.

Worthington Federal Bank launched operations at 4040 Balmoral Drive in Huntsville. Huntsville-based Worthington Financial Holdings Inc. acquired Franklin Security Bank earlier this year, and the operations and charter were relocated to Huntsville and the name of the bank changed.



New banks, new names spring up in area Sunday, December 30, 2007 By MARIAN ACCARDI Times Business Writer marian.accardi@htimes.com Community startups and corporate buyouts change the landscape The financial services industry in the Huntsville area continued to experience changes in 2007 - from large bank acquisitions to the expansion of smaller, community banks. Raleigh, N.C.-based RBC Centura, a subsidiary of Royal Bank of Canada, in March completed the conversion of 39 AmSouth Bank branches it bought in Alabama - five of those in the Huntsville area. Then, in September, RBC Centura agreed to buy Alabama National BanCorporation, a Birmingham-based company that is the parent of 11 subsidiary banks and other businesses in Alabama, Florida and Georgia, including First American Bank. First American has 35 locations in north central Alabama, with five offices in Madison County. The deal, valued at about $1.6 billion, is scheduled to close early next year, pending approval of U.S. and Canadian regulators. In addition, Spanish financial giant Banco Bilbao Vizcaya Argentaria SA in September finalized its acquisition of Birmingham-based Compass Bank for $9.1 billion. Compass, which operates 415 branches in six states, has six branches in Huntsville and one in Madison. Among the developments this year in community banking: BancorpSouth, based in Tupelo, Miss., opened its Huntsville branch at 603 Madison St. and is renovating a building on Hughes Road in Madison and building a new branch on U.S. 72 in Huntsville, with both scheduled to open early next year. Tuscaloosa-based Bryant Bank opened a Huntsville office in the former YMCA building at Green Street and Randolph Avenue downtown and has received the required regulatory approvals. Plans are to operate as a full-service branch the first week of 2008. CapitalSouth Bank is building a Madison branch at 53 Hughes Road that's expected to open in late February. Citizens Bank and Savings Co. in Russellville opened a Huntsville location at 4009 University Drive. Citizens Bank & Trust, based in Guntersville, opened a Hazel Green branch in a modular unit and is building an office at 13870 U.S. 231/431, with plans to open the first week in February. Eva Bank's Madison location converted from a loan office to a full-service banking branch. First National Bank, a Pulaski, Tenn.-based bank, is preparing to open its first Alabama location at Commerce Center at Memorial Parkway and Clinton Avenue in Huntsville. An open house is scheduled for Jan. 15. North Alabama Bank, whose main branch is in Hazel Green, opened a new branch in the Village of Providence in northwest Huntsville. North Jackson Bank opened a branch on Sutton Road in Huntsville. Startup Progress Bank has nearly completed the renovation of a building at 201 Williams Ave. in Huntsville for its corporate headquarters and Huntsville main office and at 255 Grant St. in Decatur. Bank organizers have received conditional approval from regulators. The scheduled opening is Feb. 4 for both locations. Huntsville-based Redstone Federal Credit Union opened its 19th location on Alabama 53 in the Harvest area. Athens-based Reliance Bank is building a new branch at the Village Shoppes of Madison on County Line Road in Madison. Birmingham-based ServisFirst Bank is finalizing plans to build a new office on Enterprise Way at the entrance to Cummings Research Park to replace an office in the Village of Providence in west Huntsville. Birmingham-based SouthPoint Bank opened a new Huntsville loan-production office at 201 Eastside Square. Birmingham-based Superior Bank opened a Hampton Cove branch at U.S. 431 South and Sutton Road and a regional commercial banking center at its 312 Clinton Ave. location. A building on U.S. 72 in Athens was purchased and is now being renovated, and that branch is scheduled to open in early 2008. Worthington Federal Bank launched operations at 4040 Balmoral Drive in Huntsville. Huntsville-based Worthington Financial Holdings Inc. acquired Franklin Security Bank earlier this year, and the operations and charter were relocated to Huntsville and the name of the bank changed. © 2008 The Huntsville Times © 2008 al.com All Rights Reserved.