Tag Archives: Fdic

Colonial Bank died of real estate gluttony, says FDIC

The report also shed little light on Colonial’s murky relationship with Taylor, Bean & Whitaker, a defunct Florida mortgage broker. On Aug. 4, federal investigators raided Colonial’s mortgage division in Orlando, Fla. , and Taylor, Bean’s headquarters…Source: Everything Alabama

Bank seized; assets sold to FDIC, then sold to N.C.-based bank

Colonial BancGroup became the largest bank failure of the year as it was seized and sold Friday. Regulators from the Alabama State Banking Department seized the bank at the close of business Friday and turned its assets over to the FDIC.Source: Montgomery Advertiser