calculatedriskblog.com - 8/14/2009
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Form Bloomberg: Bank of America Wins Order on Colonial Bank Assets U.S. District Judge Adalberto Jordan in Miami issued the order after Bank of America sued Colonial yesterday in Miami, claiming Colonial is holding the cash and loans as a custodian for Ocala Funding Inc. The order notes that ...
Report: BB&T to take Over Colonial Bancgroup
calculatedriskblog.com 8/14/2009 — Update: BB&T; Said to Be Taking Colonial in Year’s Biggest Bank Failure BB&T; Corp. ... is taking over offices and deposits of Colonial BancGroup Inc., according to a person familiar with the matter. Colonial, Alabama’s second-largest bank, is being closed by regulators today, the person said, ...
Alabama Bank Becomes Year's Biggest to Fail —
Drudge Retort
The Federal Deposit Insurance Corp. took over Colonial Bank, Alabama's second-largest bank with more than $25 billion in assets, at 5 p.m. today and it will be acquired by BB&T; Corp. Colonial had 346 branches across Alabama, Florida, Georgia, Nevada and Texas.
EATED —
Eschaton
Colonial Bank, Montgomery AL gets EATED. Special netroots nation edition Dwelling House Savings and Loan Association, Pittsburgh, PA gets EATED.
Bank Failure #74: Down Goes Colonial —
Calculated Risk
Busy drones humming Colonial colonized Queen bee Bair in charge. by Soylent Green is People From the FDIC: BB&T;, Winston-Salem, North Carolina, Assumes All of the Deposits of Colonial Bank, Montgomery, Alabama Colonial Bank, Montgomery, Alabama, was closed today by the Alabama State Banking ...
Market and Bank Watch —
Calculated Risk
There are reports that Colonial will be seized today. Still waiting on Guaranty (Texas), Corus, and many others: see August 14 Problem Bank List (unofficial) below. Click on graph for larger image in new window. The first graph shows the S&P; 500 since 1990. The dashed line is the closing ...
Problem Bank List (Unofficial) Aug 14, 2009 —
Calculated Risk
This is an unofficial list of Problem Banks. (Note: Reports are Colonial will be seized this afternoon) The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay. The Fed and OTC ...
BofA Sues Colonial for $1 Billion —
Calculated Risk
From Reuters: Bank of America sues Colonial for $1 bln in loans, cash Bank of America Corp sued Colonial BancGroup Inc for more than $1 billion in loans and cash ... Bank of America, which was the collateral agent for certain loans of Ocala Funding LLC, said Colonial refused to return more than ...
Biggest Bank Failure of the Year So Far —
Hit & Run
Another handful of banks have taken the Friday powder, bringing the total number of 2009 failures to 77. Among the dead was the largest bank to go under this year. The Federal Deposit Insurance Corp. reports that Colonial BancGroup Inc. of Montgomery, Alabama has been liquidated, ...
Bank Failures Rise to 77 for 2009 —
Blogs For Victory
The hits just keep coming :
Troubled Colonial BancGroup will be bought by rival BB&T Friday, the government said after state regulators closed the bank whose assets had been frozen by a federal judge.
The Montgomery, Ala., bank, which has 346 branches spread across Florida, Alabama, ...
Huge Bank Failure —
Blue Crab Boulevard
A followup to a post from yesterday. As predicted by Bloomberg, Colonial BancGroup has failed, the largest bank failure in 2009. The FDIC seized that bank plus four others late Friday, bringing the 2009 total to 77 - more than triple the 2008 total of 25. And it is only August.
Troubled Colonial ...
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