Colonial Bank continues with business as BB&T

Posted by: Melissa McKinney - bio | email

MONTGOMERY, AL (WSFA) - It's the first time a bank in Alabama has gone under since the early 1990s.

But workers at Colonial Bank, now BB&T, say it's business as usual at the branch off Carter Hill Road.

While it still looks like Colonial Bank, BB&T is slowly putting it's name on the building.

Signs adorn doors and windows welcoming Colonial Bank clients to the new BB&T family.

Many customers say news of Colonial's downfall didn't worry them.

"It's like another bank that's purchasing a bank...just right now it's at a discount," says Montgomery resident, Johnnie Kimbrough.

But Kimbrough says he never thought he'd see the bank fail.

"You always know something like this is possible. It's very surprising when it does happen though."

But as leaders work out the nuts and bolts of the take over at Colonial's corporate headquarters in Montgomery, Andrew Gray with the FDIC says customers should keep banking as normal.

"Over the weekend they can use their debit cards, their ATM cards, they can write checks."

While the FDIC typically insures individual accounts up to $250,000, Gray says everything is safe.

"Both the insured and the uninsured are protected. No depositor lost a penny in this case."

That's good news for folks like Johnnie.

"Knowing that the FDIC insurance would protect my money that's in the bank, I'm not really concerned about it."

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