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

Emails reveal behind-the-scenes efforts to save Colonial

“Colonial is a Fort Worth institution and as a Fort Worth-based ... Price and Bill Thornton, president of the Fort Worth Chamber of Commerce, sent a letter to “a select group of community leaders” asking them to attend an Oct. 26 meeting at the ...
Posted: December 8, 2017, 1:36 pm

BOYS BASKETBALL PREVIEW: It's a wild, wide-open West in the Colonial League

“We have a great group of young men who are working hard to change the ... Lost to Southern Lehigh in Colonial League semifinals. Lost to Jim Thorpe in District 11 semifinals, beat Saucon Valley in District 11 consolation game. Lost to Scranton Prep ...
Posted: December 7, 2017, 12:56 pm

All-Colonial Conference field hockey final rankings and postseason honors, 2017

The senior capped off her career with 32 goals and 13 assists in her final season, and helped lead her team to its second-straight Group 1 state title. In the state tournament alone, she posted 11 goals and two assists, and earned Colonial Conference First ...
Posted: November 30, 2017, 3:02 am
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