Colonial BancGroup Inc. in Montgomery, Ala., said Monday that it lost $168 million, or 86 cents a share, in the first quarter.
Analysts on average had expected the $26.4 billion-asset company to post a loss of 72 cents a share. Excluding net goodwill impairment charges, the operating loss was $142 million, or 74 cents a share.
Colonial earned $30.1 million a year earlier.