Colonial Bank is 74th FDIC-insured institution to fail in the nation this year. FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $2.8 billion. Colonial Bank had total assets of $25 billion and total deposits of approximately $20 billion. The FDIC and BB&T entered into a loss-share transaction on approximately $15 billion of Colonial Bank’s assets. The deal is projected to maximize returns on the assets covered by keeping them in the private sector.”]
Source: https://www.cuinfosecurity.com/colonial-bank-closed-a-1712