Make sure that the insurance meets your needs in terms of protection. Learn more about giving express consent for optional products and services. You must give your express consent to obtain this product. The lender cannot insist that you buy mortgage insurance. You don’t need to purchase optional mortgage insurance to be approved for a mortgage. Optional mortgage insurance is a type of credit and loan insurance that you're usually offered when you take out or renew a mortgage. Optional mortgage insurance products are life, illness and disability insurance products that can help make mortgage payments, or can help pay off the remainder owing on your mortgage, if you: On November 2, 1990, Peoples Bancorp and Planters Corp., of Rocky Mount, North Carolina, merged to form Centura Bank.What are optional mortgage insurance products In June 2001, Royal Bank of Canada acquired Centura Banks and rebranded them as RBC Centura. RBC announced on January 17, 2008, that it would abandon the "Centura" brand in April 2008 and the unit would operate as RBC Bank. Over 1000 employees continued to work in Rocky Mount as of 2011, in such areas as information technology and mortgage processing. RBC Centura purchased Tucker Federal Bank parent company Eagle Bancshares in 2002, giving it a more substantial customer base in the Atlanta area after its 1998 purchase of Security First Network Bank which had only one office. The bank merged with Flag Bank, increasing its presence in Georgia. RBC continued to grow in the Southeast after acquiring 39 branches of Birmingham, Alabama-based AmSouth Bank on March 9, 2007. Previously, RBC Centura had no locations in Alabama. RBC's footprint in Alabama, Georgia, and Florida expanded significantly after its acquisition of Alabama National BanCorporation (ANB). approval February 5, 2008, and on April 14, 51 branches re-opened as RBC Bank. The remaining branches re-opened by June 2008. ANB operated in three states through eleven different subsidiaries.Ĭonstruction of the RBC Plaza, now PNC Plaza, in 2008, was not the first major move by RBC to become a major part of the community in Raleigh, NC. In 2002, RBC purchased the naming rights for the Raleigh Entertainment & Sports Arena, home to the Carolina Hurricanes of the National Hockey League and North Carolina State University basketball. The arena became the RBC Center, with a 20-year lease at a cost of $80 million. In June 2006, the RBC Center hosted the NHL's Stanley Cup Finals, and on June 19, 2006, the Carolina Hurricanes defeated the Edmonton Oilers in the arena to win the Stanley Cup. PNC acquired the naming rights with the purchase of RBC, and the name changed to PNC Arena on March 15, 2012.Īt the time PNC acquired RBC, it had a total of 5,000 employees with 500 located in the Raleigh area. In November 2007, RBC Centura was involved in the "Dunmore Homes" project in Sacramento, California, that stopped all construction on August 8, 2007, due to liquidity issues with the home builder. The company was subsequently sold to a mortgage loan officer for $500 and quickly incorporated in New York. The company filed for bankruptcy in Manhattan. After details of the sale became known to RBC Centura Bank, a major Dunmore Homes creditor, the bank sued on November 7. The company alleged in a lawsuit filed in Fresno County that the sale of all the assets for a mere $500 was not adequate and was done to "hinder, delay and defraud the creditors," including RBC.
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