All Posts Tagged With: "Colonial Bancgroup"
Although BB&T Corp. (NYSE:BBT) has received little recognition and press coverage through the years, that has now changed that it has been recognized as one of the top ten banks in the country. Much of the recent recognition has come from an article in Time magazine which talked of the BB&T takeover of Colonial BancGroup [...]
Bids for the assets of Texas-based Guaranty Bank have been received during August by the Federal Deposit Insurance Corp., and the probable but unconfirmed news that the huge Spanish bank Banco Bilbao Vizcaya Argentaria SA has won that bid would effectively put an end to Guaranty Bank. Of course whether it’s Banco Bilbao Vizcaya Argentaria [...]
Branch Banking Trust (BB&T) announced today that it has initiated a $750 million public offering of its common stock. There was no specific reason given for the funds generated from the offering other than they’ll be used for general business purposes. In case of overallotments, the underwriters have a 30-day option in which to acquire [...]
There were concerns on whether the ratings of BB&T and its subsidiary Branch Banking Trust would retain their status after the acquisition of Colonial BancGroup on Friday. After being appointed as receiver of Colonial BancGroup, the Federal Deposit Insurance Corporation approved of the sale of Colonial to BB&T as far as its deposits and assets. [...]
A number of media outlets have been reporting that BB&T will be taking over the assets of Colonial BancGroup, citing sources familiar with the situation. Evidently the bank will be seized some time on Friday by bank regulators, which will make it the largest bank failure this year, and the fifth-largest in U.S. banking history. [...]
As Colonial BancGroup struggles to survive, Bank of America Corp. filed a lawsuit in order to protect its claim on Colonial loans in case it ends up declaring bankruptcy. In the lawsuit filed with the U.S. District Court of the Southern District of Florida, Bank of America asserted that over $1 billion in loans Colonial [...]
A meeting between Alabama banking regulators and Colonial Bank scheduled for Wednesday, August 12, was canceled, which was set to talk about the possible takeover of the company by the FDIC. The reason it was canceled was because a secret meeting was held on Monday instead, between the Alabama Banking Department and Colonial Banking officials. [...]