M&A Deal Summary

Renasant Acquires RBC Bank - Trust Department

On June 29, 2011, Renasant acquired financial services company RBC Bank - Trust Department from RBC Bank

Acquisition Highlights
  • This is Renasant’s 2nd transaction in the Financial Services sector.
  • This is Renasant’s 2nd transaction in the United States.
  • This is Renasant’s 1st transaction in Alabama.

M&A Deal Summary

Date 2011-06-29
Target RBC Bank - Trust Department
Sector Financial Services
Buyer(s) Renasant
Sellers(s) RBC Bank
Deal Type Divestiture

Target

RBC Bank - Trust Department

Birmingham, Alabama, United States
RBC Bank (USA) - Trust Department comprises $680 million in assets under management, comprised of personal and institutional clients with over 200 trust.

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Buyer(S) 1

Buyer

Renasant

Tupelo, Mississippi, United States

Category Company
Founded 1904
Sector Financial Services
Employees2,300
Revenue 632M USD (2023)
DESCRIPTION

Renasant is a provider of banking, mortgage, financial and insurance services. Renasant was founded in 1904 and is based in Tupelo, Mississippi.


DEAL STATS #
Overall 2 of 9
Sector (Financial Services) 2 of 9
Type (Divestiture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 2 of 9
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-05 Capital Bancorp

Nashville, Tennessee, United States

Capital Bancorp, Inc. is a national community banking company with a network of separately chartered banks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-07 First M&F

Kosciusko, Mississippi, United States

First M&F Corp., the parent of M&F Bank, is a 120-year-old community bank committed to proceed with its mission of making the mid-south better through the delivery of excellence in financial services to 26 communities in Mississippi, Alabama and Tennessee. First M&F Corp had total assets of approximately $1.6 billion at December 31, 2012.

Buy -

Seller(S) 1

SELLER

RBC Bank

Raleigh, North Carolina, United States

Category Company
Founded 1990
Sector Financial Services
DESCRIPTION

RBC Bank (USA), Inc. is a provider of financial services and advice to individuals, businesses, and public institutions in the Southeast.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1