1 minute readColonial BancGroup on Tuesday filed for Chapter 11 bankruptcy in Alabama’s northern district, according to a filing with the Securities and Exchange Commission. The bankruptcy comes as no real shock, with Colonial BancGroup previously noting in past filings the possible inability for the company to continue as “a going concern.” Then, on August 14, Colonial BancGroup’s former banking subsidiary Colonial Bank was shut down by regulators and its deposits and some assets assumed by Winston-Salem, N.C.-based Branch Bank and Trust (BBT) in a deal guided by the Federal Deposit Insurance Corp. BB&T said at the time it would not assume any obligations of holding company Colonial BancGroup, bringing Fitch Ratings to say it anticipated the company would file for bankruptcy. Colonial BancGroup files the same week Taylor, Bean & Whitaker Mortgage Corp. (TBW) announced it is seeking Chapter 11 protection. Taylor Bean’s bankruptcy followed weeks of unrest after Colonial Bank — a major lender to TBW — confirmed it was complying with an investigation into its mortgage warehouse lending facility. Write to Diana Golobay.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
HUD tests a new Operation Breakthrough for today’s housing crisis
“Gallia est omnis divisa in partes tres.” All Gaul is divided into three parts. Julius Caesar used those words more than 2,000 years ago to begin an account of military conquest. America’s housing affordability challenge might be described similarly. Like Gaul of yore, it divides into three parts: talk, action, and outcomes. Identifying the three […]
Jun 23, 2026
-
Why we can’t get more housing construction in the US
Jun 24, 2026 -
Fannie Mae to expand title pilot program, Pulte says
Jun 24, 2026 -
Housing demand holds steady as regional inventory trends reshape the market
Jun 25, 2026 -
Mortgage performance steady in May as calendar drives delinquency bump
Jun 26, 2026 -
Florida homebuyers sue Compass over $475 transaction fee
Jun 26, 2026
Latest Articles
When AI listing videos look too real: the disclosure test agents need now
Agents using AI listing videos should disclose simulated footage and material edits, as states like California set 2026 rules.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
