Bank failure · AL
Colonial Bank (Montgomery, AL) — failed August 14, 2009
Colonial Bank of Montgomery, Alabama was closed on August 14, 2009 and resolved through a purchase and assumption. Bb&t (NC) took over its insured deposits. At failure it held $25.5B in assets and $20.1B in deposits. The FDIC's estimated loss on the failure is $2.4B (9.3% of assets).
- Closing date
- August 14, 2009
- FDIC certificate #
- 9609
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bb&t
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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