Bank operator issues forecast

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Thursday, Jan. 23, 2003 | 10:58 a.m.

MONTGOMERY, Ala. -- Colonial Bancgroup Inc., operator of bank branches in six states including Nevada, said it expects to earn $1.20 to $1.28 a share in 2003. The forecast is in line with analysts' expectations.

"The magnitude of the uncertainties regarding the economy, interest rates and global conditions will certainly have a bearing on income for 2003," the company said in a regulatory filing.

Colonial last week reported a fourth quarter profit of $34.6 million or 28 cents per share. That compares to $31.9 million or 28 cents in the year-ago period, when fewer shares were outstanding.