Colonial Bank Purchases New Branch in Osprey

28 July, 2008 - Colonial Bank N.A. (NYSE: CNB), has purchased an approximately 2,900 square foot condo at 24 East Bay Street, Unit 11, Building A-3, Osprey, Florida from Bay Street Partners, LLC for $1,455,725. Colonial's new branch, which includes two drive through lanes is expected to open sometime in 2009. Anthony V. Migliore and Paul Klick of Coldwell Banker Commercial NRT represented Colonial Bank and Ray Rodriquez of Florida Rays Realty represented the seller.

"This just underscores the fact that there is positive news with regard to banks expanding in this economy," says Migliore who represented Colonial Bank. "This is a strategically important site for my client."

The Colonial BancGroup, Inc., is a $27 billion financial services company headquartered in Montgomery, Ala. Its common stock is traded on the New York Stock Exchange under the symbol CNB. They are both a Fortune 400 Platinum Company as well as a Fortune Global 1000 company. Colonial currently has more than 340 banking offices in Alabama, Florida, Georgia, Nevada and Texas.

Colonial Bank: http://www.colonialbank.com
Coldwell Banker Commercial NRT: http://www.cbcworldwide.com

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