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calculatedriskblog.com - 8/14/2009
Report: BB&T to take Over Colonial Bancgroup
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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, ...
Troubled Colonial BancGroup fails, sold to BB&T - Aug. 14, 2009
money.cnn.com - 8/15/2009
Troubled Colonial BancGroup fails, sold to BB&T - Aug. 14, 2009
— money.cnn.com — NEW YORK (CNNMoney.com) -- 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 ... (more) Troubled Colonial BancGroup fails, sold to BB&T - ...

Comments vote down Blogs For Victory found this 8/15/2009found 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
Ouch. Colonial Left a Mark! (on Loans)
calculatedriskblog.com - 8/19/2009
Ouch. Colonial Left a Mark! (on Loans)
— calculatedriskblog.com — 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 ... (more) Ouch. Colonial Left a Mark! (on Loans)
Comments vote down Eschaton found this 8/19/2009found this

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Eschaton:  Starting Early

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Blog Reactions

Starting Early
Eschaton — It sounds like Bank Failure Friday might be starting early. And this is what it might mean... The Southern regional bank, based in Montgomery, Ala., is the largest remaining player in warehouse lending, which provides short-term financing to independent mortgage bankers. At one time, these mortgage bankers originated half of all U.S. home loans using these funds. Today, the warehouse lending market is decimated. In 2007 it was worth an estimated $200 billion; now there is just $25 billion available -- 25% of which belongs to Colonial. If ...

Related: colonial bank failure, colonial bancgroup
Biggest Bank Failure of the Year So Far
reason.com 8/15/2009 — 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 ...
Colonial BancGroup becomes biggest bank failure of 2009 (2 failures by 7pm EST) — Democratic Underground Latest Breaking News
Source: [b]CBS Marketwatch[/b] SAN FRANCISCO (MarketWatch) -- Colonial BancGroup Inc. became the largest bank failure this year Friday after the Federal Deposit Insurance Corporation seized the struggling Alabama-based lender and sold it to BB&T Corp. The deal will knock roughly $2.8 ...
Largest bank failure of the year on Friday — AMERICAblog News| A great nation deserves the truth
Plus four others. Sure, the banking problems are behind us now so let's pretend as though everything is OK. MarketWatch : Colonial BancGroup Inc. became the largest bank failure this year after the Federal Deposit Insurance Corporation seized the struggling Alabama-based lender Friday and sold ...
Colonial BancGroup Shut Down By Feds In Biggest US Bank Failure This Year — The Huffington Post | Full News Feed
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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 ...
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, ...
friday night news dump — skippy the bush kangaroo
hmmm...let's see what we can find this evening. bb&t takes over colonial after biggest u.s. failure since wamu (74th bank failure this year) mexico nabs gas thieves; us refineries implicated democratic rep. john murtha says congress may miss deadline of passing health bill this year ...
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 ...
BB&T Said to Be Taking Colonial in Year’s Biggest Bank Failure — Democratic Underground Latest Breaking News
Source: [b]Bloomberg[/b] BB&T Said to Be Taking Colonial in Year’s Biggest Bank Failure Share | Email | Print | A A A 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 ...
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 ...
Colonial BancGroup SEC Filing: Target of Criminal Investigation, Possible FDIC Seizure — Calculated Risk
From a SEC 8-K filed this morning: On August 6, 2009, The Colonial BancGroup, Inc. (the Company or BancGroup) was informed by the U.S. Department of Justice that it is the target of a federal criminal investigation relating to the Company’s mortgage warehouse lending division and related alleged ...