Colonial BancGroup Snapshot
The Colonial BancGroup is colonizing the South. The company owns Colonial Bank, which operates about 340 branches mostly in Florida, but also in Alabama, Georgia, Nevada, and Texas. It offers such standard banking fare as checking and savings accounts, CDs, and credit cards, in addition to insurance and investment products. Other nonbanking services include trust, discount brokerage, and asset management. The bank's lending activities primarily consist of real estate loans, with construction loans and commercial mortgages each accounting for around a third of the company's portfolio; residential real estate make up nearly 20%. The bank also makes agricultural, business, and consumer loans.