Ex-Parent of Colonial Bank Sues BB&T for Return of $300 Million

Ex-Parent of Colonial Bank Sues BB&T for Return of $300 Million

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Bobby Lowder, former CEO of Colonial Bank and a trustee of. in assets – the bulk of which were then handed over to BB&T (BBT, The Edward L. and Catherine K. lowder business building (named for his parents) and the Charlotte G.. mortgage lender, would inject the $300 million Colonial needed.

Colonial. $570 million from the Treasury Department. Regulators agreed to give it the money, but only if raised $300 million in private capital. The authorities allege Farkas, who led the effort to.

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Under the FDIC’s receivership, Colonial Bank was sold to Branch Banking and Trust (BB&T) of Winston-Salem, North Carolina. Defendant-appellees named in the decision included First Horizon Asset Securities, , Credit Suisse Securities, Deutsche Bank Securities, FTN Financial Securities, HSBC Securities, RBS Securities, UBS Securities and Wells Fargo Asset Securities.

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based Colonial and appointed the Federal deposit insurance corp. as receiver. The federal agency approved the sale of Colonial’s $20 billion in deposits and about $22 billion of its assets to BB&T.

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