TUPELO — Renasant Bank has completed the acquisition of the Birmingham, Ala.-based trust department of RBC Bank (USA), which services clients in Alabama and Georgia.
Terms were not disclosed.
The acquisition by Renasant will not affect the separate trust operations of RBC Wealth Management in the U.S. or RBC Trust Company (Delaware) Limited.
Renasant chairman and CEO, E. Robinson McGraw said, “Over the past 12 months, we have taken advantage of many opportunities to improve our profitability and expand our footprint throughout the southeast and we look to capitalize on future growth opportunities as they become available.”
The Renasant Trust and Wealth Management Alabama Division is located in the Park Place Tower in downtown Birmingham.
Renasant recently announced its market entrance into Tuscaloosa, Ala., which is Renasant’s ninth expansion over the past 12 months.