Regulators Tell Colonial to Shape Up

Colonial BancGroup's new chief executive officer received a rough welcome, getting slapped with a cease-and-desist order after a week on the job.

Nexity Close to Raising Capital, CEO Says

Funds would more than satisfy March C&D order

The capital pressure at Nexity Financial Corp. is mounting, but its top executive says the Birmingham, Ala., company is close to raising what it needs.

Silverton Hit at Auburn National

Auburn National Bancorp. Inc. in Alabama said it expects the failure of Silverton Bank to cut into two quarters' worth of earnings.

BancTrust Pins $6M Loss on Coastal Loans

With nonperforming assets climbing to 7.23% of its total, BancTrust Financial Group of Mobile said Monday that it swung to a 1Q loss of $6 million, from a profit of ...

Delay on Tarp Decision Costs an Insurer Its Deal

Protective Life of Birmingham, Ala., has lost its deal for a struggling Florida banking company. The reason: the long wait for insurance companies seeking government capital.

Flush with Capital, Iberia Expanding into Alabama

Alabama has been a hot market for consolidation in recent years, and Iberiabank of Lafayette, La., sees the potential for employee and customer defections as an opportunity.

Alabama Bank Grew Fast Without Fumbling

Thomas A. Broughton, president and CEO of ServisFirst Bank, acknowledged that ServisFirst is unlikely to continue growing at the brisk pace of its early years (from 2006 to 2008, annual asset growth ranged from 40% to 60%).

Synovus Combining Four Bank Units

The company said it would merge Columbus Bank and Trust with two of its other Georgia banks — CB&T Bank of Middle Georgia in Warner Robins and ...

Nexity Seeking Investor, Buyer as Losses Persist

Observers said it would be tough to find either, but the Alabama company's chairman and CEO said that he is sure its correspondent banking business would be appealing.

Protective Life, Seeking Tarp Funds, Buying Bonifay

Protective Life in Birmingham, Ala., said it has signed a letter of intent to acquire the $241.6 million-asset Bonifay Holding in Florida.

Small-Bank Woes Reverberate for Bankers' Banks

Problems at bankers' banks go beyond their loan portfolios. Their business of making loans to bank holding companies has ground to a halt as banks instead weigh direct ...

Fed Orders Exec Review at CapitalSouth

CapitalSouth Bancorp in Birmingham, Ala., which has lost more than $21M in the last two quarters on bad real estate loans, has been slapped with an enforcement order ...

Former SEC Chief to Help Alabama in Short-Selling Case

The Alabama Securities Commission has asked former SEC Chairman Harvey L. Pitt to help investigate allegations that traders deliberately sold Colonial BancGroup shares ...

Profit Down at Superior of Alabama

Superior Bancorp in Birmingham, Ala., said Monday that its second-quarter earnings fell 58% from a year earlier, to $841,000.