colonial bank

Signs that regional giant Colonial Bank was in dire straits have abounded for weeks. Today, regulators reportedly decided to step in after reaching an agreement to sell the Montgomery, Alabama–based bank's $20 billion in deposits and BB&T is expected to acquire the business of Colonial BancGroup, an Alabama-based lender, after Colonial is seized by federal banking regulators later on Friday, Bloombergews reported, citing a person familiar with the matter.What is interesting about the second action is that apparently Colonial Bank disclosed a new FDIC Cease & Desist order dated Aug. 11th. I'm told the FDIC order instructs Colonial to obtain FDIC approval for most activities, colonial bank news, colonial bancgroup, bb t, colonial bank failure, colonial bank fdic