Colonial Bank FOR IMMEDIATE RELEASE

387 Fairhope Ave.

Fairhope, AL 36532

COLONIAL BANK NAMES BOULWARE ASSISTANT VICE PRESIDENT, BUSINESS

LENDING OFFICER

FAIRHOPE, Ala. – Colonial Bank has recently named Derek Boulware assistant vice president,

business lending officer for the Fairhope office. He is responsible for acquiring, retaining and

growing the portfolio of business clientele through the sale of business banking products and

services.

Boulware has four years of banking experience and previously served as vice president, branch

manager for another financial institution in South Alabama. He was responsible for managing

portfolios and overseeing the operations of the branch.

Boulware earned a bachelor’s degree in public relations from the University of Alabama and also

is a member of the Kiwanis Club and the Daphne City Council.

About Colonial Bank

Colonial Bank is a division of the Montgomery, Alabama-based Colonial BancGroup, Inc., a $26

billion bank holding company with more than 340 offices in Florida, Alabama, Georgia, Nevada

and Texas. The Colonial BancGroup, Inc., is traded on the New York Stock Exchange under the

symbol CNB, and located online at www.colonialbank.com. The company has received a number

of prestigious accolades such as inclusion on Forbes Magazine’s 2007 Best Big Companies in

America and the publication’s Global 1000 lists.

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For More Information: Company Contact: Public Relations Contact:

Kristin Cunningham Ashley-Harrington Andrews

Communications, Colonial Bank Howard, Merrell & Partners

(334) 676-5553 (919) 844-2746

kristin_cunningham@colonialbank.com aandrews@merrellgroup.com