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twitterEarnings increase for banking concern
Friday, July 16, 1999 | 11:20 a.m.
MONTGOMERY, Ala. -- Colonial BancGroup reported record quarterly earnings of $30.2 million or 27 cents per share, up from $26.9 million or 24 cents in the year-ago quarter.
Loans outstanding increased 14.3 percent to $7.591 billion at June 30.
Non-performing assets fell from $44.4 million to $37.8 million.
Colonial BancGroup entered the Nevada market by acquiring two banks within the past few years: Commercial Bank in Las Vegas and Interwest Bancorp in Reno.
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