BB&T Takes Over Alabama’s Colonial Bank After Biggest Failure Since WaMu
By Alison Vekshin, David Mildenberg and Dakin Campbell Aug. 15 (Bloomberg) — Colonial BancGroup Inc., the Alabama lender facing a criminal probe, had its banking operations closed by regulators and taken over by BB&T Corp. in the biggest failure since Washington Mutual Inc. collapsed last year. Regulators also shut two companies in Arizona, one in Las Vegas and one in Pittsburgh yesterday, pushing the tally of failed banks this year to 77. Branches and deposits of Colonial Bank,