Alabama National BanCorporation Announces Plans to Unite Three Subsidiary Banks under First American Name and Two Subsidiary Banks under First Gulf Name.BIRMINGHAM, Ala. -- Alabama National BanCorporation ("ANB") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALAB) today announced its plans to unite First American Bank First American Bank is the name of numerous banks operating separately in each state of the United States. Please refer to the individual articles for more information on each bank. with National Bank of Commerce of Birmingham in February 2005 and with First Citizens Bank of Talladega in May 2005, creating a financial institution with approximately $2.5 billion in assets as of September 30, 2004. The combined institution will be called First American Bank, with 33 locations in north and central Alabama. "We are pleased to unite these three banks to better serve the north central Alabama community and propel future growth," said John H. Holcomb, III, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ANB. ANB also announced today the planned March 2005 unification of First Gulf Bank in Baldwin County, Alabama Baldwin County is a county of the U.S. state of Alabama. It is named in honor of Abraham Baldwin, a member of the United States Senate from Georgia who, ironically, never actually lived in Alabama. As of 2000 the population is 140,415 [1]. and Citizens & Peoples Bank, N.A. of Pensacola, Florida. These two banks will unite to form First Gulf Bank, N.A., which will be a $425 million bank headquartered in Pensacola serving its customers through 10 offices. "We are excited about the opportunity to use our combined strength to further expand along the Gulf coast panhandle," said Holcomb. To be consummated, these transactions must first receive certain regulatory approvals. ANB is a bank holding company operating 83 banking locations through thirteen bank subsidiaries in Alabama, Florida and Georgia. Alabama subsidiaries include: Birmingham-based National Bank of Commerce (NBC), First American Bank in Decatur/Huntsville, Athens and Auburn/Opelika; First Citizens Bank in Talladega; Bank of Dadeville; Alabama Exchange Bank in Tuskegee and First Gulf Bank in Baldwin County. Florida subsidiaries are: Citizens & Peoples Bank, N.A. in Pensacola; Community Bank of Naples, N.A.; Millennium Bank in Gainesville; Public Bank in metropolitan Orlando; Cypress Coquina coquina Limestone formed almost entirely of sorted and cemented fossil debris, most commonly coarse shells and shell fragments. Microcoquinas are similar sedimentary rocks composed of finer material. Bank in Ormond Beach; and Indian River National Bank in Vero Beach. ANB has one subsidiary in Georgia, Georgia State Bank in metropolitan Atlanta. ANB provides full banking services to individuals and businesses. Brokerage services are provided to customers through NBC's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , NBC Securities, Inc. Investments are not bank guaranteed, not FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured and may lose value. Insurance services are provided through ANB Insurance Services, Inc., a wholly owned subsidiary of First American Bank. Alabama National BanCorporation common stock is traded on the NASDAQ National Market System under the symbol "ALAB." |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion