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Monday, August 10, 2009

Colonial Bank Takeover Imminent?

According to media reports, North Carolina based BB&T Inc. is said to be considering purchasing Colonial Bank. Colonial Bank has two branches in Fairhope one downtown and one in the Plantation Pt. Shopping Center. If Colonial fails it will be the fifth largest bank in U.S history to do so. All individual depositors are insured to $250,000 by the Federal Government.

3 comments:

Anonymous said...

uh, oh. that's me.

Anonymous said...

better get money out and close safety deposit box before wednesday

Anonymous said...

Shouldn't be a problem. Banks fail all the time. Feds come in and run it. Business as usual till another bank buys it. No need to panic.