DOCSLIB.ORG

Bank of Granite ——— C O R P O R a T I O N ——— to Our Stockholders, Customers, Employees & Friends

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Bank of Granite ——— C O R P O R a T I O N ——— to Our Stockholders, Customers, Employees & Friends Letter from Chief Executive Officer Directors and Executive Officers I. Notice of 2009 Annual Meeting II. Proxy Statement III. Annual Report on Form 10-K For the year ended December 31, 2008 Stockholder Information Bank of Granite ——— C O R P O R A T I O N ——— To our Stockholders, Customers, Employees & Friends, Two thousand eight posed unprecedented challenges for the banking industry. Asset valuations and reduced net interest margins have brought all banks under earnings performance pressure. Accordingly, 2008 was a very disappointing year for Bank of Granite. I will discuss the primary issues and how your team of dedicated employees is working to resolve them. In the fourth quarter of 2008, Bank of Granite Corporation posted a loss of $34.3 million, or $2.22 per share. For the full-year ended December 31, 2008, we reported a net loss of $36.3 million, or $2.35 per share. Of that loss, $25.7 million in noncash charges were related to the establishment of reserves against deferred tax benefits, the impairment of goodwill, and the impairment of securities values. An additional $8 million was related to loss provisions on loans to two real estate development borrowers. We have been aggressive in our loan loss provisions as economic conditions continue to bring stress to our markets. Net interest margin compression also contributed to a 29% decline in net interest income for the year. The margin decline was precipitated by a sharp decline in the prime rate coupled with strong deposit competition. Our increase in nonperforming assets also contributed materially to the decline in our net interest income. Here is what we have done to try to change the recent course of our earnings. On the front of problem asset resolution, we have a new Portfolio Management Department manned by a dedicated group of professionals charged with reducing our special assets as efficiently as possible. Our job number one is the resolution of, and in some cases the liquidation of, our problem loans. Expense control was important in 2008 and continues to be a priority in 2009. Expense savings in the fourth quarter of 2008 were approximately $1.1 million. Many cost saving initiatives took hold in the second half of 2008, so our new expense run rate is even lower. As previously stated we have committed tremendous resources to problem loan resolution. As this work eventually subsides, the expense burden of these activities will be reduced, and our considerable talent will be redirected to production and growth. We believe we have a valuable franchise. Through this difficult period our loyal depositors have validated that community bank customers “stay for service” as our total deposits grew slightly in 2008 despite the recession. We have a solid core of business in the Unifour Area and will defend our share vigorously with superior client service and exceptional community involvement. We continue to look for good loan opportunities throughout our footprint. We will continue to add resources to our successful new markets such as the Charlotte Metro Region that have been a key to our growth since our entry in 2003. We intend to emerge from this difficult economic environment stronger, leaner, and smarter having fought through these hard times. The commitment and dedication of our employees are stronger than ever, as the recession has demanded more from us. We appreciate so much the support of every customer and stockholder who believes that our 103 years continue with the promise of a bright future for Bank of Granite. Bank of Granite R. Scott Anderson Chief Executive Officer ————— C O R P O R A T I O N ————— March 31, 2009 Board of Directors James Y. Preston Leila N. Erwin Chairman Owner, More Lace Gift Shop, Morganton, NC; Bank of Granite Corporation; President, Morris Investment Company Of Counsel, Parker Poe Adams & (investment and real estate management), Bernstein, LLP, Charlotte, NC Charlotte, NC John N. Bray Paul M. Fleetwood, III Vice Chairman, President, Corporate Management Bank of Granite Corporation; Chairman, Services, Inc. (real estate management); Director & Chief Executive Officer, Treasurer, Catawba Valley Building Supply, Vanguard Furniture, Inc. Hickory, NC Hickory, NC Hugh R. Gaither R. Scott Anderson President & Chief Executive Officer, Chief Executive Officer & President Flagship Brands, LLC (performance socks) Bank of Granite Corporation Conover, NC Granite Falls, NC Boyd C. Wilson, Jr., CPA Joseph D. Crocker Executive Vice President, Broyhill Assistant Secretary for Community Investments, Inc. (investment management); Development, North Carolina Vice President & Chief Financial Officer, Department of Commerce BMC Fund, Inc. (regulated investment Raleigh, NC company), Lenoir, NC Executive Management R. Scott Anderson Jerry A. Felts Kirby A. Tyndall Chief Executive Officer Chief Operating Officer Executive Vice President, & President Chief Financial Officer, Secretary & Treasurer Forward Looking Statements The discussions presented in this annual report contain statements that could be deemed forward looking statements within the meaning of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements are inherently subject to risks and uncertainties. Forward looking statements are statements that include projections, predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Such statements are often characterized by the use of qualifying words (and their derivatives) such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” or other statements concerning our opinions or judgments about future events. Factors that could influence the accuracy of such forward looking statements include, but are not limited to, the financial success or changing strategies of our customers, our success operating in new markets that we enter, actions of government regulators, the level of market interest rates, and general economic conditions. For additional factors that could affect the matters discussed in forward looking statements, see the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which is included in this mailing. Bank of Granite ——— C O R P O R A T I O N ——— 23 NORTH MAIN STREET GRANITE FALLS, NORTH CAROLINA 28630 (828) 496-2000 Notice of Annual Meeting of Stockholders - April 27, 2009 TO OUR STOCKHOLDERS: The Annual Meeting of Stockholders of Bank of Granite Corporation will be held on Monday, April 27, 2009 at 10:30 a.m. local time. The meeting will be held at the Crowne Plaza (formerly Holiday Inn - Select), 1385 Lenoir Rhyne Boulevard, S.E. (at Interstate 40, Exit #125), Hickory, North Carolina for the following purposes: 1. To elect eight directors to hold office until the next annual stockholders meeting or until their respective successors are elected and qualified; 2. To ratify the selection of Dixon Hughes PLLC as our independent accountants for the fiscal year ending December 31, 2009; and 3. To transact such other business as may properly be brought before the meeting or any adjournment thereof. Information about these matters is included in the Proxy Statement accompanying this notice. Only stockholders of record at the close of business on March 2, 2009 are entitled to receive notice of, and to vote at, this meeting. Bank of Granite Corporation’s 2009 Annual Stockholders Meeting Proxy Ballot, Proxy Statement and 2008 Annual Report on Form 10-K are enclosed with this Notice. These documents are also available at www.cfpproxy.com/3843. YOUR VOTE AND PROMPT RESPONSE IS IMPORTANT. TO ASSURE YOUR REPRESENTATION AT THE MEETING, PLEASE MARK, SIGN, DATE AND PROMPTLY RETURN YOUR PROXY IN THE ENVELOPE PROVIDED FOR THAT PURPOSE. IF YOU ATTEND THE MEETING, YOU MAY WITHDRAW YOUR PROXY AND VOTE IN PERSON. YOUR PROMPT RESPONSE WILL SAVE YOUR COMPANY THE EXPENSES AND EXTRA WORK OF ADDITIONAL SOLICITATION. By order of the Board of Directors Bank of Granite Corporation Granite Falls, North Carolina R. Scott Anderson March 31, 2009 Chief Executive Officer Important Notice Regarding The Availability Of Proxy Materials For The Shareholder Meeting To Be Held On April 27, 2009: The Proxy Statement and 2008 Annual Report on Form 10-K are also available at www.cfpproxy.com/3843. I Directions to Bank of Granite Corporation’s Annual Meeting To Granite Falls, Lenoir, Boone & Hickory points north 321 Lenoir Rhyne To Winston-Salem, Greensboro, Boulevard Statesville & points east 70 EXIT 125 INTERSTATE INTERSTATE 40 40 To Asheville, 70 Morganton & points west To Charlotte, 321 Lincolnton, Gastonia Crowne Plaza & points south (Formerly Holiday Inn - Select) 1385 Lenoir Rhyne Boulevard, S.E. Directions to the Crowne Plaza in Hickory: 1. Take Exit 125 from Interstate 40. 2. If exiting from eastbound Interstate 40, turn right onto Lenoir Rhyne Boulevard. If exiting from westbound Interstate 40, turn left onto Lenoir Rhyne Boulevard. 3. The Crowne Plaza will be 1 block on the left. If needed, telephone numbers are: Bank of Granite in Hickory - 828 345-6800 Crowne Plaza in Hickory - 828 323-1000 Bank of Granite ——— C O R P O R A T I O N ——— PROXY STATEMENT SOLICITATION, VOTING AND REVOCABILITY OF PROXY General The accompanying Proxy is solicited by the Board of Directors of Bank of Granite Corporation (the “Company”) for use at the Annual Meeting of Stockholders to be held on April 27, 2009, and any adjournment thereof. The time and place of the meeting is set forth in the accompanying Notice of Meeting. The approximate date on which this Proxy Statement and the accompanying Proxy are first being mailed or given to stockholders of the Company is April 6, 2009. Copies of the Company’s Annual Report on Form 10-K for 2008 are provided with this Proxy Statement and have been sent to each stockholder with this Proxy Statement. These documents are also available at www.cfpproxy.com/3843.
Load more

Recommended publications
  • H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks
    R £ S ^ 0 H u b h a r y ANNOUNCEMENT 1995, No. 3 F c b ie Board, its Staff, and BOARD OF GOVERNORS r ^ t-^•"‘;.:itfejSy!F« U i 4 ® r a l Reserve Banks; OF THE App-ftio'fii and Reports Received FEDERAL RESERVE SYSTEM During the Week Ending January 21, 1995 ACTIONS TAKEN BY THE BOARD OF GOVERNORS BANK HOLDING COMPANIES Boatmen's Bancshares, Inc., St. Louis, Missouri -- to acquire Worthern Banking Corporation, Little Rock, Arkansas, and its banking and nonbanking subsidiaries. Approved, January 18, 1995. Coal City Corporation, Coal City, Illinois, and Manufacturers National Corporation, Chicago, Illinois -- to acquire shares of Peterson Bank, Chicago, Illinois. Approved, January 17, 1995. KeyCorp, Cleveland, Ohio, and Key Bancshares of Maine, Inc., Portland, Maine -- to acquire Casco Northern Bank, N.A., Portland, Maine. Approved, January 17, 1995. Southern National Corporation, Lumberton, North Carolina -- to acquire BB&T Financial Corporation, Wilson, North Carolina; Branch Banking and Trust Company, Wilson; Branch Banking and Trust Company of South Carolina, Greenville, South Carolina; Lexington State Bank, Lexington; and Community Bank of South Carolina, Varnville; and to acquire shares of Southeast Switch, Inc., Maitland, Florida, and engage in data processing services, management consulting advice, and community development activities. Approved, January 17, 1995. ENFORCEMENT DLG Financial Corporation, The Woodlands, Texas, and Daniel S. De La Garza, president and sole shareholder -- combined consent order of assessment of civil money penalties against DLG Financial and order of prohibition against Mr. De La Garza. Authorized, January 18, 1995. NARA Bank, N.A., and California Center Bank, Los Angeles, California -- issuance with the Comptroller of the Currency of a cease and desist order against Sunnie S.
    [Show full text]
  • H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks
    RESEARCH LVBRARY ANNOUNCEMENT H.2, 1996, No. 29 A&tlans of the Board, its Staff, and BOARD OF GOVERNORS US f 10 58 ttH J§>he Federal Reserve Banks; OF THE ^Applications and Reports Received ftUi^.puriri^viifie Week Ending July 20, 1996 FEDERAL RESERVE SYSTEM OF vUMfitffRir ACTIONS TAKEN BY THE BOARD OF GOVERNORS TESTIMONY AND STATEMENTS Monetary policy objectives -- statement by Chairman Greenspan before the Senate Committee on Banking, Housing, and Urban Affairs, July 18, and before the House Committee on Banking and Financial Services, July 23, 1996. Authorized, July 18, 1996. Prime bank financial instruments and related illegal financial schemes -- statement by Mr. Biern, Deputy Associate Director, Division of Banking Supervision and Regulation, before the Senate Committee on Banking, Housing, and Urban Affairs, July 17, 1996. Published, July 17, 1996. BANK HOLDING COMPANIES Dresdner Bank AG, Frankfurt, Germany -- to retain the United States operations of Kleinwort Benson Group Pic, London, England, and engage in underwriting and dealing, to a limited extent, in all types of debt and equity securities and certain other nonbanking activities. Approved, July 16, 1996. NVE Bancorp, MHC, Englewood, New Jersey, and NVE Bancorp, Inc. -- to acquire NVE Savings Bank. Approved, July 15, 1996. ENFORCEMENT United Security Bancorporation, Lincoln, Nebraska - final decision and order to cease and desist against Harold S. Myers and David C. Myers, institution-affiliated parties. Authorized, July 16, 1996. FORMS Survey of Terms of Bank Lending (FR 2028A, FR 2028B, and FR 2028S) -- extension with revision. Approved, July 16, 1996. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St.
    [Show full text]
  • News Release Joseph A
    North Carolina Office of the Commissioner of Banks NEWS RELEASE JOSEPH A. SMITH, JR. COMMISSIONER OF BANKS RELEASE: IMMEDIATE DATE: MAY 14, 2008 CONTACT: HA NGUYEN DISTRIBUTION: STATEWIDE PHONE: 919/733-3016 RALEIGH --- The State Banking Commission convened its regular meeting on Wednesday, May 14, 2008, at 9:00 A.M. in the Hearing Room of The Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh, North Carolina. The following were approved: 1. Articles of Incorporation and Application to charter a new commercial bank to be known as Colony Signature Bank, to be located in Charlotte, Mecklenburg County, North Carolina. 2. Articles of Incorporation and Application to charter a new commercial bank to be known as Legacy Bank, to be located in Charlotte, Mecklenburg County, North Carolina. Since the last meeting (3/19/08), the Commissioner of Banks has approved the following pursuant to APA Rules: For Consideration under 4 NCAC 3C .0201 – Establishment: Application by Bank of North Carolina, Thomasville, North Carolina, for authority to establish Mooresville Office at 125 Commerce Park Drive, Suite 101, Mooresville, Iredell County, North Carolina. Application by NewBridge Bank, Greensboro, North Carolina for authority to establish its Carolina Beach Road Branch, 5978 Carolina Beach Road, Wilmington, New Hanover County, North Carolina. For Consideration under 4 NCAC 3C .0301 – Relocation: Application by First-Citizens Bank & Trust Company, Raleigh, North Carolina, for authority to relocate its Dunn Main Office from 201 West Broad
    [Show full text]
  • News Release Joseph A
    North Carolina Office of the Commissioner of Banks NEWS RELEASE JOSEPH A. SMITH, JR. COMMISSIONER OF BANKS RELEASE: IMMEDIATE DATE: MARCH 20, 2008 CONTACT: HA NGUYEN DISTRIBUTION: STATEWIDE PHONE: 919/733-3016 RALEIGH --- The State Banking Commission convened its regular meeting on Wednesday, March 19, 2008, at 9:00 A.M. in the Hearing Room of The Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh, North Carolina. The following were approved: 1. Application by RBC Centura Bank, Raleigh, Wake County, North Carolina, for authority to merge and be the survivor of merger with the ten bank subsidiaries of Alabama National BanCorporation and to operate in all the locations authorized for RBC Centura Bank and the ten bank subsidiaries of Alabama National BanCorporation. 2. Application by First Bank, Troy, Montgomery County, North Carolina, for authority to merge and be the survivor of merger with Sentry Bank & Trust, Cheraw, Chesterfield County, South Carolina, and to operate in all the locations authorized for First Bank and Sentry Bank & Trust. 3. Application by Four Oaks Bank & Trust Company, Four Oaks, Johnston County, North Carolina, for authority to merge and be the survivor of merger with Longleaf Community Bank, Rockingham, Richmond County, North Carolina, and to operate in all the locations authorized for Four Oaks Bank & Trust Company and Longleaf Community Bank. 4. To affirm the Commissioner’s Decision and Order re: Willie Preston Baker, Docket No.: 07:082:MBB. 5. To affirm the Commissioner’s Decision and Order re: Beverly Dunn, Docket No.: 07:145:MBB. Since the last meeting (1/23/08), the Commissioner of Banks has approved the following pursuant to APA Rules: For Consideration under 4 NCAC 3C .0201 – Establishment: Applications by Branch Banking and Trust Company, Winston-Salem, North Carolina, 316 W.
    [Show full text]
  • Approval of Proposal by Royal Bank of Canada
    FEDERAL RESERVE BOARD Royal Bank of Canada Montreal, Canada Order Approving the Acquisition of a Bank Holding Company Royal Bank of Canada (“RBC”) and its subsidiary bank holding companies (collectively, “Applicants”), including RBC Centura Banks, Inc. (“RBC Centura”),1 [Footnote 1. Applicants also include the following companies: Royal Bank Holding, Inc., Toronto, Canada; RBC Holdings (USA), Inc. and RBC USA Holdco Corporation, both of New York, New York; and Prism Financial Corporation, Wilmington, Delaware. End footnote.] Raleigh, North Carolina, all financial holding companies within the meaning of the Bank Holding Company Act (“BHC Act”), have requested the Board’s approval under section 3 of the BHC Act2 [Footnote 2. 12 U.S.C. section 1842. End footnote.] to acquire Alabama National BanCorporation (“ANB”), Birmingham, Alabama, and its ten subsidiary banks.3 [Footnote 3. ANB’s largest subsidiary bank, as measured by both assets and deposits, is First American Bank (“ANB Lead Bank”), Birmingham. ANB’s other subsidiary bank in Alabama is Alabama Exchange Bank, Tuskegee. ANB’s subsidiary banks in Florida are Community Bank of Naples, National Association, Naples; CypressCoquina Bank, Ormond Beach; First Gulf Bank, National Association, Pensacola; Florida Choice Bank, Mount Dora; Indian River National Bank, Vero Beach; and Millennium Bank, Gainesville. ANB’s subsidiary banks in Georgia are Georgia State Bank, Mableton, and The Peachtree Bank, Duluth. End footnote.] Notice of the proposal, affording interested persons an opportunity to submit comments, has been published (72 Federal Register 68,163 (2007)). The time for filing comments has expired, and the Board has considered the proposal and all comments received in light of the factors set forth in the BHC Act.
    [Show full text]
  • News Release Joseph A
    North Carolina Banking Commission NEWS RELEASE JOSEPH A. SMITH, JR. COMMISSIONER OF BANKS RELEASE: IMMEDIATE DATE: September 20, 2007 CONTACT: HA NGUYEN DISTRIBUTION: STATEWIDE PHONE: 919/733-3016 RALEIGH --- The State Banking Commission convened its regular meeting on Wednesday, September 19, 2007, at 9:00 A.M. in the Queens Court Ballroom at the Renaissance Charlotte SouthPark hotel at 5501 Carnegie Blvd., Charlotte, North Carolina. The following were approved: 1. Application by Lexington State Bank for authority to merge and be the survivor of merger with FNB Southeast, and to change the name of the surviving bank to NewBridge Bank, and for NewBridge Bank to operate in all locations authorized for Lexington State Bank and FNB Southeast. 2. Application by Bank of the Carolinas for authority to merge and be the survivor of merger with Randolph Bank & Trust Company, and for Bank of the Carolinas to operate in all locations authorized for Bank of the Carolinas and Randolph Bank & Trust Company. 3. Application by Yadkin Valley Bank and Trust Company for authority to merge and be the survivor of merger with Cardinal State Bank, and for Yadkin Valley Bank and Trust Company to operate in all locations authorized for Yadkin Valley Bank and Trust Company and Cardinal State Bank. 4. Articles of Incorporation and Application to charter a new commercial bank to be known as Pisgah Community Bank, to be located in Asheville, Buncombe County, North Carolina. 5. Articles of Incorporation and Application to charter a new commercial bank to be known as Reidsville Community Bank, to be located in Reidsville, Rockingham County, North Carolina.
    [Show full text]
  • North Carolina Banking in 1997: the Year in Review, 2 N.C
    NORTH CAROLINA BANKING INSTITUTE Volume 2 | Issue 1 Article 4 1998 North Carolina Banking in 1997: The eY ar in Review Laura Turner Beyer Follow this and additional works at: http://scholarship.law.unc.edu/ncbi Recommended Citation Laura T. Beyer, North Carolina Banking in 1997: The Year in Review, 2 N.C. Banking Inst. (1998). Available at: http://scholarship.law.unc.edu/ncbi/vol2/iss1/4 This Article is brought to you for free and open access by Carolina Law Scholarship Repository. It has been accepted for inclusion in North Carolina Banking Institute by an authorized administrator of Carolina Law Scholarship Repository. For more information, please contact [email protected]. NORTH CAROLINA BANKING IN 1997: THE YEAR IN REVIEW I. INTRODUCTION The banking industry is in the midst of radical change. The distinctions between banks, thrifts, and other financial institutions are diminishing rapidly.' In addition, the geographic restraints on banking are disintegrating, leading to nationwide and worldwide banking.' Finally, the number of banks is decreasing due to mergers, acquisitions, and consolidation through interstate branching, while the largest banks are steadily increasing in size.3 North Carolina banks are at the forefront of this radical change. Charlotte, North Carolina, is second only to New York in terms of banking assets and houses two of the nation's largest bank holding companies- NationsBank Corporation which is ranked third in terms of asset size and First Union Corporation which is ranked sixth.4 In addition, North Carolina serves as home to Wachovia Corporation, the seventeenth-largest bank holding company in the country, as measured by assets at year-end 1997 This review of North Carolina banking surveys some of the major developments in the North Carolina banking industry in 1997.
    [Show full text]
  • Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
    Federal Reserve Release H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received No. 18 Week Ending May 5, 2001 Board of Governors of the Federal Reserve System, Washington, DC 20551 H.2 Board Actions April 29, 2001 to May 5, 2001 Testimony And Statements Real estate brokerage and management -- statement by Governor Meyer before the Subcommittee on Financial Institutions and Consumer Credit, House Committee on Financial Services. - Published, May 2, 2001 Forms Forms -- initial review of proposed Consolidated Bank Holding Company Report of Equity Investments in Nonfinancial Companies (FR Y-12). - Proposed, May 1, 2001 Regulations And Policies Regulation W (Transactions between Banks and Affiliates) -- request for comment on proposed new Regulation W to comprehensively implement sections 23A and 23B of the Federal Reserve Act [Docket No. R-1103]. - Approved, May 2, 2001 Section 23A of the Federal Reserve Act -- final rule granting exemptions from and providing interpretations of section 23A [Docket Nos. R-1015 and R-1016]. - Approved, May 2, 2001 Sections 23A and 23B of the Federal Reserve Act -- interim rule with request for comment regarding application of the two sections to credit exposure arising from derivative transactions with affiliates and intraday extensions of credit to affiliates [Docket No. R-1104]. - Approved, May 2, 2001 (AC) = Addition or Correction Board - Page 1 of 1 H.2 Actions under delegated authority April 29, 2001 to May 5, 2001 BS&R Banking Supervision and Regulation RBOPS Reserve Bank Operations and Payment C&CA Consumer and Community Affairs IF International Fiance FOMC Federal Open Market Committee OSDM Office of Staff Director for Management Bank Branches, Domestic Kansas City Bank of Colorado, Fort Lupton, Colorado -- to establish a mobile branch to operate within a 30-mile radius of Durango.
    [Show full text]
  • RBC Centura: Initiatives and Strategy
    RBC Centura: Initiatives and Strategy Presentation to Analysts & Institutional Investors Kel Landis CEO, RBC Centura Banks, Inc. Charlotte, North Carolina June 12, 2002 Agenda Centura background RBC Centura overview Progress against initial goals 2002-2003 strategic priorities Eagle Bancshares 1 Looking back 2 Looking back Centura was a leader In: sales culture evolution è started 7 years ago with daily sales routines customer profitability è among the first U.S. banks to operationalize this channel development è first in NC and among first in U.S. to offer online banking capital deployment è adopted EVA in 1994 3 Company history June 5, 2001: Merger closes Feb. 2000: Triangle Bancorp. with Royal Bank of Canada March 1998: Pee Dee State Bank s June 1995: First Southern Savings Bank n io it Dec. 1992: Orange Fed. Sav. Bank is u Feb. 1999: First Coastal Bank cq A Oct. 1996: First South Bank 29 Dec. 1993: First Charlotte Nov. 2, 1990: Peoples Bancorp. and Planters Corp. form Centura 10 year EPS CAGR > 12% Banks, Inc. 4 Consistent values RBC Centura RBC Care about the customer Excellent service to clients and each other Always do what’s right Trust through integrity in everything we do Respect and empower Diversity for growth and each other innovation Working together to succeed Expect excellence in everything we do Personal responsibility For high performance 5 Who we are now transition well received by customers and employees no customer loss actually, gaining business from affiliation with RBC Financial Group 6 Our corporate vision To build a leading U.S.
    [Show full text]
  • Royal Bank of Canada Annual Information Form
    TM ROYAL BANK OF CANADA ANNUAL INFORMATION FORM December 16, 2003 TABLE OF CONTENTS INCORPORATION ............................................................................................... 1 BUSINESS Overview .................................................................................................................. 1 RBC Banking ........................................................................................................... 1 RBC Insurance .......................................................................................................... 2 RBC Investments....................................................................................................... 3 RBC Capital Markets ............................................................................................... 4 RBC Global Services ............................................................................................... 5 Competition .............................................................................................................. 6 General development of the business ....................................................................... 7 GOVERNMENT SUPERVISION AND REGULATION – CANADA Supervision and regulation........................................................................................ 10 Capital Liquidity and Dividends ............................................................................... 11 Business....................................................................................................................
    [Show full text]
  • News Release Joseph A
    North Carolina Banking Commission NEWS RELEASE JOSEPH A. SMITH, JR. COMMISSIONER OF BANKS RELEASE: IMMEDIATE DATE: July 19, 2007 CONTACT: HA NGUYEN DISTRIBUTION: STATEWIDE PHONE: 919/733-3016 RALEIGH --- The State Banking Commission convened its regular meeting on Wednesday, July 18, 2007, at 9:00 A.M. in the Hearing Room of The Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh, North Carolina. The following were approved: 1. Application by Cooperative Bank, Wilmington, New Hanover County, North Carolina, for authority to merge with Bank of Jefferson, Jefferson, Chesterfield County, South Carolina, and for Cooperative Bank to be the survivor of said merger. 2. Articles of Incorporation and Application to charter a new commercial bank to be known as Live Oak Banking Company, to be located in Wilmington, New Hanover County, North Carolina. 3. Articles of Incorporation and Application to charter a new commercial bank to be known as Blue Harbor Bank, to be located in Mooresville, Iredell County, North Carolina. 4. Articles of Incorporation and Application to charter a new commercial bank to be known as Forest Commercial Bank, to be located in Asheville, Buncombe County, North Carolina. *** Since the last meeting (5/23/07), the Commissioner of Banks has approved the following pursuant to APA Rules: For Consideration under 4 NCAC 3C .0201 – Establishment: Application by Branch Banking and Trust Company, Winston-Salem, North Carolina, to establish a branch at 3101 14th Street, NW, Washington, DC, to be known as the Kenyon Square Branch. Application by RBC Centura Bank, Rocky Mount, North Carolina, to establish a branch at 63 South Royal Street, Mobile, Mobile County, Alabama, to be known as the Mobile- Riverview Branch.
    [Show full text]
  • News Release Joseph A
    North Carolina Office of the Commissioner of Banks NEWS RELEASE JOSEPH A. SMITH, JR. COMMISSIONER OF BANKS RELEASE: IMMEDIATE DATE: JANUARY 25, 2008 CONTACT: HA NGUYEN DISTRIBUTION: STATEWIDE PHONE: 919/733-3016 RALEIGH --- The State Banking Commission convened its regular meeting on Wednesday, January 23, 2008, at 9:00 A.M. in the Hearing Room of The Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh, North Carolina. The following were approved: 1. Application by New Century Bank, Dunn, Harnett County, North Carolina, for authority to merge and be the survivor of merger with New Century Bank South, Fayetteville, Cumberland County, North Carolina, and for New Century Bank to operate thereafter in all the locations authorized for New Century Bank and New Century Bank South. 2. Proposed Revision or Adoption of Mortgage Lending Rules. Since the last meeting (11/14/07), the Commissioner of Banks has approved the following pursuant to APA Rules: For Consideration under 4 NCAC 3C .0201 – Establishment: Applications by Branch Banking and Trust Company, Winston-Salem, North Carolina, for authority to establish the following branches: Hamilton Place Branch-2120 Gunbarrel Road, Chattanooga, Hamilton County, Tennessee; and Statesboro Southside Branch-208 Springhill Drive, Statesboro, Bulloch County, Georgia. Application by Gateway Bank & Trust Company, Elizabeth City, North Carolina, for authority to establish its 100 Dominion Drive Office at 100 Dominion Drive, Emporia, Emporia County, Virginia. For Consideration under 4 NCAC 3C
    [Show full text]