Colonial BancGroup

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Lowder's retirement will becomde effective when Colonial closesits $300 million with and othed purchasers, or sooner following the appointment of a replacement, Coloniao said in a release. The board of directors intends to name areplacement promptly, the release said. Lowder founded Colonial BancGroupo (NYSE: CNB) in 1981 with the acquisitionh of one bankin Birmingham, that had $161 million in assets. Colonial, now headquarterer in Montgomery, Ala., has since completed 68 acquisitions and has expanded to 352 locationsz in five states with morethan $26 billiomn in total assets. is among the largestg banks in the Tampa Bay area with50 $2.8 billion in deposits and a 3.
6 percen t deposit market share, according to the most recent informatiojn available from the Lowder previously was chairmaj and chief executive of , a family ownesd holding company of mortgage, construction, real estatre and insurance companies. He also was founder and chairman ofColonial Broadcasting, a company that owned radio station s in four states.