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Ouch. Colonial Left a Mark! (on Loans)
calculatedriskblog.com - 8/19/2009
Ouch. Colonial Left a Mark! (on Loans)
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From Peter Eavis at the WSJ: Colonial Bank Marks a New Low for Loans In doing the deal, BB&T; is marking down Colonial loans and real-estate collateral by 37%, a number that reflects a large amount of estimated losses. The biggest mark is on construction loans; BB&T; is cutting their value by ...
calculatedriskblog.com - 8/14/2009
Report: BB&T to take Over Colonial Bancgroup
— calculatedriskblog.com — 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, ... (more) Report: BB&T to take Over Colonial Bancgroup

Comments vote down Rover Rover found this 8/14/2009found this
bloomberg.com - 8/14/2009
BB&T Said to Be Taking Colonial in Year’s Biggest Bank Failure
— bloomberg.com — BB&T Said to Be Taking Colonial in Year’s Biggest Bank Failure By David Mildenberg Aug. 14 (Bloomberg)... -- BB&T Corp. , the North Carolina lender that bought back a $3.1 billion stake from the U.S. government, is taking over offices and deposits of ... (more) BB&T Said to Be Taking Colonial in Year’s Biggest ...
Comments vote down Calculated Risk found this 8/14/2009found this
calculatedriskblog.com - 8/14/2009
Judge Rules for BofA Against Colonial Bank, New Cease & Desist Disclosed
— calculatedriskblog.com — 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 ... (more) Judge Rules for BofA Against Colonial Bank, New Cease & ...

Comments vote down Rover Rover found this 8/14/2009found this

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Eschaton — I don't think it's pointed out enough that aside from all of the losses, our financial sector demonstrated that it is incapable of allocating capital efficiently. All of those loans which went to overbuild commercial real estate could have been loaned to more productive activities over the last several years. ...

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