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Regulators shut down Colonial BancGroup

Alabama-based Colonial BancGroup, which has 22 branches and $850 million in deposits in Nevada, was shut down today by regulators and its deposits taken over by BB&T.

Mark Daigle, chief executive of Colonial Bank’s operations in Nevada, said he does not believe the transaction with bank holding company BB&T, if true, would affect the planned acquisition of Colonial’s Nevada operations by Global Conser Acquisition Corp.

 

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