Colonial BancGroup to Build New Corporate Headquarters.MONTGOMERY, Ala. -- 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) ) announced today its plans to build new corporate headquarters on a 25-acre site located in the eastern part of the city. "Colonial is emerging as the premier banking franchise in the Southeast. As our franchise continues to grow, we felt the need to choose a location for our corporate headquarters that would allow us future expansion in a campus-style setting," said Sarah Moore, senior executive vice president and chief financial officer. The new 218,000 square foot headquarters will consist of a six-story operations building and a three-story executive building joined by a rotunda rotunda In Classical and Neoclassical architecture, a building or room that is circular in plan and covered with a dome. The Pantheon is a Classical Roman rotunda. The Villa Rotonda at Vicenza, designed by Andrea Palladio, is an Italian Renaissance example. lobby. "The new building will combine traditional and modern design elements and materials that reflect the progressive nature of Colonial Bank Colonial Bank, a subsidiary of Colonial Bancgroup Inc. NYSE: CNB, is headquartered in Montgomery, Alabama. Colonial Bank has 300 branches in the states of Alabama, Georgia, Florida, Nevada and Texas. Its common stock is traded on the NYSE under the symbol CNB. ," said Michelle Condon, executive vice president of special projects at Colonial Bank. "The exterior will be a striking and eclectic blend of pre-cast, granite and metal. The landscaping will be enhanced with a lake in the front and an attractive courtyard with outdoor seating for employees to enjoy." Colonial's new corporate headquarters will be home to more than 550 employees including corporate executives, commercial lending, wealth management, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and various operational departments. "Colonial will maintain a downtown Montgomery presence with its technology group and call center which supports more than 309 offices across our five-state footprint," Condon said. "The current location provides a state-of-the-art infrastructure to house the special needs of that environment." Goodwyn Mills and Cawood Inc. designed the building. Brasfield & Gorrie, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is the general contractor and Heery International, Inc. is serving as project manager. Completion is slated for late 2006. About Colonial BancGroup The Colonial BancGroup, Inc. is a $20.9 billion bank holding company operating 309 banking 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. Additional information about Colonial can be found at www.colonialbank.com. |
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