Colonial Bank Gets the Old Yeller Treatment from FDIC
Adam Sharp submits:
It’s official, Colonial Bank (CNB'>CNB) is no more. Estimated FDIC loss will be $2.8b, link.
Colonial Bank will got the Old Yeller treatment from FDIC on Friday. It was the biggest bank failure of 2009, with $25 billion in assets. CNB is just one of four big banks widely viewed as doomed-to-fail. FDIC usually makes these announcements Fridays from 7:00-10:00 pm EST.
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