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Latest Colonial Bank Stories

2009-08-21 07:38:24

While the U.S. economic recovery appears firmer day by day, there is that nagging feeling something may have been left behind -- toxic assets, perhaps. Indeed, the buildup of failed banks this year shows something is still amiss in the financial sector, as toxic assets continue to haunt the industry. Mid-sized or regional banks are especially vulnerable, but occasionally a failure will earn national attention, like the failure of Colonial Bank a week ago -- the sixth largest U.S. bank failure...

2009-08-15 12:25:04

The Federal Deposit Insurance Corp. says it has sold failed southern U.S. bank Colonial BancGroup Inc. to BB&T Corp. The Wall Street Journal's MarketWatch reported the FDIC seized the Alabama lending company Friday, marking the largest bank failure to take place in 2009. In addition to the failure of BancGroup, FDIC officials said four other banking victims of the recession -- Pittsburgh's Dwelling House Savings and Loan, Community Bank of Arizona, Las Vegas's Community Bank and the Union...

2009-08-14 15:23:16

A federal judge has ordered a freeze of $1 billion of assets of southern U.S. bank Colonial BancGroup, which reports said would soon be bought by BB&T. The bank would be the largest to fail this year and the sixth-largest bank failure in U.S. history, CNNMoney.com reported Friday. Its failure could impact the ability of homeowners to find mortgages, as Colonial is a prominent warehouse lender that supplies funding for mortgage lenders. It's like if they shut down half the concession...

2009-04-18 08:11:11

Banks in Missouri and Nevada have been closed by regulators, marking the 24th and 25th U.S. banks to fail so far in 2009, officials said. The Federal Deposit Insurance Corp. Friday closed American Sterling Bank of Sugar Creek, Mo., CNN reported, while Nevada banking officials announced they had declared Great Basin Bank of Elko, Nev., insolvent and named the FDIC as receiver. Metcalf Bank of Lee's Summit, Mo., will assume the deposits of American Sterling Bank, which affects branches in...


Word of the Day
barghest
  • A goblin in English folklore, often appearing in the shape of a large dog and believed to portend imminent death or misfortune.
  • A ghost, wraith, hobgoblin, elf, or spirit.
The origin of 'barghest' is not known, but it may be from perhaps burh-ghest, town-ghost, or German Berg-geist (mountain spirit) or Bär-geist (bear-spirit).
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