Colonial BancGroup Announces Stock Repurchase Program.MONTGOMERY, Ala. -- The Executive Committee of the Board of Directors of The Colonial BancGroup, Inc. (NYSE NYSE See: New York Stock Exchange : CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) ) approved a new stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program on September 8, 2006. The stock repurchase program authorizes the repurchase of up to $100 million of BancGroup Common Stock. The stock repurchase program was authorized because of favorable market conditions. Purchases will be made from time to time in the open market or in privately negotiated transactions on such terms as are deemed to be in the best interests of BancGroup. The stock repurchase program is in addition to the stock repurchase program announced on July 21, 2006. About The Colonial BancGroup, Inc. The Colonial BancGroup, Inc. is a $23 billion bank holding company operating 299 offices in Florida, Alabama, Georgia, Nevada and Texas. The company's common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CNB and the company's Web site is located at www.colonialbank.com. |
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