The Alabama-based Colonial Bank was shut down by the the Alabama State Banking Department, seized by the FDIC and sold to BB&T Corp on August 14, 2009. All accounts and 346 Colonial Bank branch locations will continue to operate as part of BB&T Corp.http://www.fdic.gov/news/news/press/2009/pr09143.html
The failure was the largest of 2009 and the sixth largest in United States history.http://www.fdic.gov/news/news/press/2009/pr09143.html
What bank do you use for business?(2 Answers)
A:
Suggest looking at bankrate.com under checking, and they have a geographic locator for your area. They also refer to 2-3 online banks with low rates.
Why was Colonial Bank Group shut down?(2 Answers)
A:
One of the biggest banks in Florida has been shut down by regulators and its assets sold to a rival in a move that underlines the continued frailty ...
OPEN THREAD: Colonial Bank becomes the biggest bank failure of 2009(1 Answer)
A:
People of authority in this world, should realize life is not or never was based on non-materialistic, physical things like money, oil, fine cars, jewelry or anthing of ...
References
Fast Facts
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Fact:
Owned by Colonial Bancgroup Inc.
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Headquarters
Montgomery, Alabama
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Founded
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Founder
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Branches
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Fact:
Shut down by the Alabama State Banking Department on August 14, 2009
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Fact:
Seized by the FDIC
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Fact:
Sold to the BB&T Corp
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Fact:
At the time was the largest bank failure of 2009
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Fact:
Sixth-largest bank failure in U.S. history
