Colonial BancGroup

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Lowder's retirement will become effective when Coloniaol closesits $300 million with and other purchasers, or soone r following the appointment of a Colonial said in a release. The board of directors intendsz to name areplacement promptly, the releasew said. Lowder founded Colonial BancGroup CNB) in 1981 with the acquisition of one bankin Ala., that had $161 million in assets. Colonial, now headquartered in Ala., has since completed 68 acquisitions and has expanded to 352 locationes in five states with morethan $26 billiobn in total assets. is among the largest banks in the Tampqa Bay area with50 $2.8 billion in deposits and a 3.
6 perceng deposit market share, according to the most recenf information available from the Lowder previously was chairmajn and chief executive of , a family owned holdintg company of mortgage, construction, real estate and insurancre companies. He also was foundedr and chairman ofColonial Broadcasting, a companyy that owned radio stations in four states.