Colonial Group Net Worth is5.46e $Billion
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Colonial BancGroup Inc. was a $26 billion bank holding company headquartered in Montgomery, Alabama, USA. Colonial BancGroup, Inc. (BancGroup) was a financial services company that, through its subsidiaries, provided diversified services, including retail and commercial banking, wealth management services, mortgage banking and insurance.
The company ran into problems after it was revealed that it had bought $1 billion in mortgages from Taylor, Bean & Whitaker that Taylor Bean had forged, in one of the biggest fraud cases in history.
The principal activity of the BancGroup was to supervise and coordinate the business of its subsidiaries, and to provide them with capital and services. The BancGroup derived substantially all of its income from dividends received from Colonial Bank, it's banking subsidiary. The BancGroup's subsidiary Colonial Brokerage, Inc. provided full service and discount brokerage services and investment advice. The BancGroup had interests in several residential and commercial real estate developments located in the southeastern United States, as well as two in the central Texas area. On January 31, 2006, Colonial Bank sold its interest in Goldleaf Technologies, Inc., which provides Internet and automated clearing house services to community banks.
Its former subsidiary, Colonial Bank, operated 346 branches in the states of Alabama, Georgia, Florida, Nevada and Texas.
At the end of the fourth quarter of 2008, Colonial Bancgroup had a Texas ratio of 53.4%, up from a figure of 25% in the first quarter of 2008.
Colonial disclosed its legal problems on August 4, 2009, stating that federal agents had executed a search warrant at its mortgage warehouse lending offices in Orlando, Fla. and that it had been forced to sign a cease and desist order with the Federal Reserve and regulators at the end of last month in relation to its accounting practices and its recognition of losses. On August 14 it was announced that BB&T would buy Colonial's b

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Colonial Group Latest News

At New Kent meeting, Colonial Downs draws applause and tribal casino stirs fears

But a representative from the new Colonial Downs ownership group revealed little about its plans to roll out its own form of casino-style gambling at the facility. When the discussion switched to the Pamunkey tribe’s casino plan, the tone turned more ...
Posted: May 24, 2018, 7:27 pm

Rose hasn't visited restroom at Colonial - here's why

Temperatures at Colonial Country Club have approached 100 degrees this ... Now, thanks to a closing birdie Sunday, he finds himself playing alongside Rose in the final group on Sunday. "I feel like my game is coming around," he said.
Posted: May 26, 2018, 5:42 pm

Can anyone catch Justin Rose at Colonial?

Koepka, ranked No. 11 in the world, appears to Rose's biggest challenger and will be playing with him in the final group with the tee time set for 1:05 p.m. The 2018 Colonial could become a showdown between two U.S. Open champions-- Koepka won last year's ...
Posted: May 26, 2018, 2:59 pm
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