| Company type | Subsidiary bank |
|---|---|
| Industry | Financial Banking Services |
| Genre | Financial services |
| Founded | 1981 |
| Founder | Bobby Lowder |
| Defunct | August 14, 2009 |
| Fate | Declared insolvent by Alabama State Banking Department, which seized the failed bank and appointed the FDIC to be its receiver, which in turn sold the banking assts to BB&T |
| Headquarters | , |
Area served | Alabama, Georgia, Florida, Tennessee, Louisiana, Missouri, Nevada, Texas |
Key people | Bobby Lowder |
| Total assets | $26 billion |
Number of employees | < 10,000 |
| Parent | Colonial BancGroup |
| Website | colonialbank |
Colonial Bank, formerly a subsidiary of Colonial BancGroup, was headquartered in Montgomery, Alabama. Colonial Bank had 346 branches in the states of Alabama, Georgia, Florida, Nevada and Texas.
Colonial's assets had grown from $166 million in 1981 to $26 billion. Colonial expanded from its base of Alabama to fast-growing regional markets such as Florida, Georgia, Texas, and Nevada. Colonial Bank was the fifth-largest commercial bank in Florida and 27th-largest commercial bank in the USA. Colonial Bank was frequently the target of rumors that it would be acquired by a larger bank.