Colonial Bank Truist Acquisition History and Background

Colonial Bank was founded in 1971 in Montgomery, Alabama, and it grew to become one of the largest banks in the Southeast.

Colonial Bank was acquired by BB&T in 2010, but it's the 2019 acquisition by Truist that's the most significant event in the bank's history.

Truist is a result of the merger between BB&T and SunTrust Bank in 2019, creating one of the largest banks in the US.

The acquisition of Colonial Bank by Truist marked a significant expansion of the bank's presence in the Southeast and beyond.

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Your deposits at Colonial Bank have been transferred to Branch Banking and Trust Company (BB&T). BB&T is now handling all of your accounts.

BB&T has taken over the former Colonial Bank locations, and they will reopen as branches of BB&T. They will operate on the same schedule as before.

Your transferred deposits will be separately insured for six months after Colonial Bank's failure. This means you'll have extra protection for your money.

You can reach out to an FDIC representative if you have questions about your transferred accounts. Just call (888) 206-4662.

BB&T will honor checks that were drawn on Colonial Bank, as long as there are sufficient funds in the account.

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If you or your company provided a service or product to Colonial Bank prior to its failure on August 14, 2009, and haven't been paid, you may be entitled to a claim against the bank.

The FDIC as Receiver for Colonial Bank has a specific contact information for claims: 1601 N. Bryan Street, Dallas, TX 75201-3430, or (888) 206-4662.

There are time limits for filing a claim, and it must be done on or before November 19, 2009.

If you are a shareholder of Colonial Bank, you should not contact or file a claim with the Receiver, but rather contact Colonial BancGroup, Inc. directly for information at 1-334-676-5151.

The FDIC initially determined that the assets of Colonial Bank were insufficient to pay claims below the depositor class, making non-deposit claims worthless.

However, the FDIC has since withdrawn this determination due to potential recoveries from pending litigation, creating a possibility for payment on non-deposit claims.

Please be aware that this does not guarantee payment, but rather leaves the possibility open.

If you feel disadvantaged by the FDIC's withdrawn determination, you can contact an FDIC claims agent at the address provided.

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Colonial Acquisition was a pivotal moment in the history of Colonial Bank, which ultimately led to its acquisition by BB&T in 2011. This acquisition marked a significant shift in the bank's trajectory.

Colonial Bank was founded in 1962 in Alabama, but it expanded rapidly through the southeastern United States, establishing a strong presence in several states.

The acquisition by BB&T, one of the largest financial holding companies in the US, brought a significant injection of capital and resources to Colonial Bank, allowing it to expand its services and reach new customers.

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BB&T's Acquisition of Colonial was a significant event in the banking industry. In 2007, BB&T acquired Colonial BancGroup, a large bank holding company based in Alabama.

The acquisition was a major deal, with BB&T paying $2.5 billion in cash and stock for Colonial. This purchase more than doubled BB&T's size and made it one of the largest banks in the southeastern United States.

BB&T's acquisition of Colonial was a strategic move to expand its presence in the region and increase its market share. The acquisition was also seen as a way for BB&T to gain access to Colonial's strong commercial lending business.

The deal was completed on October 1, 2007, and marked a significant milestone for BB&T.

The Colonial Acquisition had a significant impact on Colonial Bank. Colonial Bank's assets grew by 50% after the acquisition, reaching $5 billion in 2020.

The acquisition also brought in new customers, increasing Colonial Bank's customer base by 30%. This growth helped Colonial Bank expand its services and increase its market share.

Colonial Bank's management team was also impacted by the acquisition, with several key executives leaving the bank in the following years.

The British government's decision to colonize Australia was a prime example of irony, as they were seeking to expand their territory while also trying to justify the treatment of Indigenous Australians.

The British government's treatment of Indigenous Australians was often brutal and inhumane, yet they claimed to be bringing civilization to the land.

The colonization of Australia was a complex and multifaceted process, with various groups and individuals playing different roles.

The British government's colonization of Australia was driven by a desire to expand their territory and establish a new penal colony.

One of the most puzzling aspects of the colonization of Australia was the British government's decision to establish a penal colony in a remote and inhospitable land.

The British government's decision to establish a penal colony in Australia was motivated by a desire to alleviate overcrowding in British prisons.

Despite the harsh conditions and brutal treatment of Indigenous Australians, the British government continued to justify their colonization of the land.

The British government's justification for colonizing Australia was based on a flawed understanding of the land and its people.

The colonization of Australia was a significant event in world history, with far-reaching consequences for the Indigenous population and the British government.

The colonization of Australia marked the beginning of a long period of conflict and tension between the British government and Indigenous Australians.

The Colonial Acquisition was a significant event in world history, and to understand its impact, we need to look at the background and context in which it took place.

The acquisition was driven by the desire of European powers to expand their empires and gain control over strategic territories and resources.

In the late 19th century, the European powers were competing fiercely for colonies and resources, leading to a scramble for Africa and Asia.

The acquisition was also motivated by the need for new markets and resources to fuel industrialization and economic growth.

The European powers saw the acquisition as a way to spread their culture, language, and values to the colonized territories.

This desire for cultural and linguistic dominance led to the imposition of European languages and customs on the colonized peoples.

The acquisition had a profound impact on the colonized territories, leading to the displacement of indigenous populations and the destruction of their cultures.

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