Colonial Bank fails - acquired by BB&T
 

FDIC announced today that Colonial National Bank has failed and its assets and locations will be acquired by BB&T out of North Carolina.

Colonial has several branches in The Villages area.

Deposits are insured to 250K.

The news stories say this will be the second most expensive failure, next to IndyMac.

Just a heads up for those of you with accounts at Colonial.

Sorry to hear about Colonials loss but I have been with BBT for many years and had many discussions with Bank officials about getting a presence in the Villages. Glad to have them!! The transition will be seemless (for less than $250K in deposits at Colonial).