The Federal Deposit Insurance Corp. and the Alabama state Banking Department have set a Sept. 30 deadline for the Montgomery-based bank to raise the money. Without it, regulators could force a sale on their terms or seize the bank.
Colonial has 7.54 percent of deposits in Mobile and Baldwin counties, about $640.7 million, according to federal data.
They jumped the gun on this one - and it's not even Friday. Something's up.
The Federal Deposit Insurance Corp. and the Alabama state Banking Department have set a Sept. 30 deadline for the Montgomery-based bank to raise the money. Without it, regulators could force a sale on their terms or seize the bank.
Colonial has 7.54 percent of deposits in Mobile and Baldwin counties, about $640.7 million, according to federal data.
They jumped the gun on this one - and it's not even Friday. Something's up.
bttt