Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary for Colonial Bank, Montgomery, AL

Colonial Bank, Montgomery, AL
Closing Date: August 14, 2009

Failed Bank Information for Colonial Bank, Montgomery, AL

Winning Bidder:

Branch Banking and Trust Company (BB&T), Winston-Salem, NC

Winning Bid:

All deposits, whole bank with loss share – Asset Discount of $1.462 billion for loss share assets, a price of 86.1% for consumer loans not covered under loss share, and a Deposit Premium of 2.77%.

Cover (second place) Bidder:

TD Bank, N.A., Portland, ME

Cover Bid:

All deposits, whole bank with loss share – Asset Discount of $1.7521 billion, Deposit Premium 2.50%.

Other Bidder Name & Location:

Branch Banking and Trust Company (BB&T)

Other Bids:

All deposit, modified whole bank with loss share – Pool bids plus Deposit Premium of 0%.

Notes:

  • The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy

Back to top

Last Updated: November 16, 2020