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COLONIAL BANCGROUP Message Board

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  • quailrunrd quailrunrd Aug 16, 2009 10:49 PM Flag

    FDIC will only take a $2.8 billion hit for CNB?

    According to the New York Times:

    ****Described in the NY Times as:
    Bad, Bad Assets
    1. The F.D.I.C. gets $3 billion in assets that BB&T did not want at all.
    2. BB&T gets $7 billion of assets.
    3. BB&T gets another $15 billion of assets to manage, but the F.D.I.C. will share losses on them, in ways that are not yet disclosed.

    That means that of the $25 billion in assets Colonial had, only 28 percent of them were deemed by BB&T to be worth taking on without any protection. And 12 percent were deemed not worthy of being taken under any terms.****

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