Colonial Shuts, Sells, ReOpens
(August 17th, 2009 under Economic News )BB&T is now the owner of Colonial’s assets and some of its debts, but certainly not all. BB&T is based in Winston-Salem, N.C.; Colonial was an Alabama institution. “The agency [FDIC] approved the sale of Colonial’s $20 billion in deposits and about $22 billion of its assets to BB&T Corp., which is based in Winston-Salem, N.C. The failed bank’s 346 branches in Alabama, Florida, Georgia, Nevada and Texas will reopen at the normal times starting on Saturday as offices of BB&T, the FDIC said.”
Here is a link to one article on this topic: http://apnews.myway.com/article/20090815/D9A30GHG0.html
Michael
This entry was posted on Monday, August 17th, 2009 at 4:40 pm and is filed under Economic News .
