8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 6, 2003

THE COLONIAL BANCGROUP, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	1-13508	63-0661573
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

One Commerce Street

    Montgomery, Alabama 36104    

(Address of principle executive offices)

            (334) 240-5000            

(Registrant’s telephone number)

Item 7. Financial Statements and Exhibits

The following exhibit is furnished as Regulation FD Disclosure to this Current Report on Form 8-K:

Exhibit No.            Exhibit

99.1 Presentation delivered to institutional investors on May 6, 2003

Item 9. Regulation FD Disclosure

Colonial BancGroup (“BancGroup”) is furnishing this Current Report on Form 8-K with in connection with a presentation being made by management of Colonial BancGroup on May 6, 2003. Attached hereto and incorporated herein as Exhibit 99.1 is the text of that presentation. This presentation contains “forward-looking statements” within the meaning of the federal securities laws. The forward-looking statements in this presentation are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: (i) an inability of the company to realize elements of its strategic plans for 2003 and beyond; (ii) increases in competitive pressure in the banking industry; (iii) general economic conditions, either nationally or regionally, that are less favorable than expected; (iv) expected cost savings from recent and acquisitions are not fully realized; (v) changes in the interest rate environment which reduce margins; (vi) management’s assumptions regarding allowance for loan losses may not be borne out by subsequent events; (vii) changes which may occur in the regulatory environment and (viii) other factors which are more fully described in our periodic filings with the Securities and Exchange Commission. When used in this presentation, the words “believes,” “projected,” “estimates,” “plans,” “expects,” “should,” “may,” “might,” “outlook,” and “anticipates,” and similar expressions as they relate to BancGroup (including its subsidiaries) or its management are intended to identify forward-looking statements. Forward-looking statements speak only as to the date they are made. BancGroup does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

THE COLONIAL BANCGROUP, INC.

By:    /s/ Sheila Moody

Sheila Moody

its Chief Accounting Officer

Date: May 6, 2003

EX-99.1

Gulf South Bank Conference New Orleans May 6, 2003

Financial Strength in Local Hands

ð One bank holding company

—$15.8 billion in assets in five states

—Concentrations in Florida ($6.8 bil.) and Alabama ($4.8 bil.)

ð A proven community banking philosophy that:

—Involves local expertise in lending decisions

—Creates an atmosphere that nurtures and personalizes customer relationships

ð Long-standing real estate expertise evident in loan mix and low net charge-offs:

—Residential real estate = 17% of portfolio

—Commercial loans secured by real estate = 33% of the portfolio

—Construction loans secured by real estate = 25% of the portfolio

ð Experienced management team

—7% insider ownership aligns the interests of shareholders, bondholders and management

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Financial Highlights

	March 31, 2003			March 31, 2002			% Change ’02 to ‘03
($ in millions)
Total Assets	$	15,754		$	13,184		19	%
Loans		11,504			10,236		12	%
Deposits		9,377			8,598		9	%
Shareholders’ Equity		1,080			951		14	%
	Three Months Ended
	March 31, 2003			March 31, 2002			% Change ’02 to ‘03
Earnings Summary ($ in thousands)
Net interest Income (taxable equiv.)	$	121,724		$	110,368		10	%
Provision for loan losses		8,060			9,478		-15	%
Noninterest Income		29,557			22,927		29	%
Noninterest Expense		88,614			70,507		26	%
Net income	$	35,630		$	34,178		4	%
Earnings Per Share:
Net Income
Diluted	$	0.29		$	0.29		0	%
Selected Ratios from:
Income from Continuing Operations
Return on average assets		0.92	%		1.09	%
Return on average equity		12.99	%		15.83	%
Cash Basis Earnings
Return on average tangible assets		0.95	%		1.10	%
Return on average tangible equity		17.37	%		18.27	%

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REGIONAL BANKS

NORTHERN ALABAMA REGION

BIRMINGHAM REGION

SOUTH CENTRAL REGION

GULF COAST REGION

GEORGIA REGION

CENTRAL FLORIDA REGION

SOUTHWEST FLORIDA REGION

SOUTH FLORIDA REGION

BAY AREA REGION

NEVADA REGION

TEXAS REGION

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$15.8 Billion in Assets

Florida 44%                    Texas 5%

Alabama 31%                 Georgia 8%

Nevada 3%                     Corporate 9%

Assets (in millions)

Florida	$6,823
Alabama	$4,846
Georgia	$1,257
Corporate	$1,461
Texas	$   838
Nevada	$   529

As of March 31, 2003

4

272 Retail Branches

Alabama 124

Florida 105

Texas 10

Nevada 11

Georgia 22

Planned Branch Additions through ‘05:

Alabama	5
Georgia	5
Nevada	6
Texas	6
Florida:
South FL	4
Bay Area	5
Southwest FL	8
Central FL	8
TOTAL	47

Note: Colonial ranks 6th in number of branches in Florida 5

Top 10 Florida Banks and Bank Holding Companies ranked by

Total Deposits as of 12/31/02

Holding Company	State	Total Offices	Total Deposits
1) Bank of America	NC	740	$	49,633,076
2) Wachovia Corp.	NC	515	$	39,347,235
3) Suntrust Bank	GA	427	$	30,794,385
4) Southtrust	AL	248	$	9,562,390
5) Amsouth	AL	157	$	5,812,732
6) Colonial BancGroup*	AL	105	$	4,112,132
7) Northern Trust	IL	27	$	3,710,539
8) Ocean Bankshares	FL	22	$	3,659,069
9) Union Planters	FL	68	$	3,584,698
10) Regions	AL	68	$	2,384,925

Provided by the Florida Bankers Association 6

Population Growth

Percent growth of areas with Colonial branch locations. Source: SNL Securities & Claritas. 7

[CHART]

Core Deposits (non-time)

*Projected growth rate of 15% 8

[CHART]

Total Loans

9

[CHART]

Nonperforming Assets/Loans and ORE

10

[CHART]

Net Charge-offs/Average Loans

11

[CHART]

Noninterest Income Growth (excludes securities gains)

*Projected growth rate of 15% 12

[CHART]

Noninterest Income to Average Assets

*Annualized 13

[CHART]

Financial Planning Services Revenue

*Projected growth rate of 29% 14

[CHART]

Fixed Annuity Revenue

*Projected growth rate of 50% 15

[CHART]

Solid Dividend Growth

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[CHART]

In Summary…

ð Great franchise in high growth markets

ð Dividend Yield of 4.24% (as of 4/30/03)

ð Loan growth with excellent asset quality

ð Continue planned expansion in market areas through acquisitions and new branches

ð More products to more people

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Forward Looking Statements

This Presentation contains “forward-looking statements” within the meaning of the federal securities laws. The forward-looking statements in the presentation are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: (i) an inability of the company to realize elements of its strategic plan for 2003 and beyond, including, but not limited to, an inability to maintain asset quality, meet targeted non-performing asset levels, and meet targeted returns on assets; (ii) increases in competitive pressure in the banking industry; (iii) general economic conditions, either nationally or regionally, that are less favorable than expected; (iv) changes which may occur in the regulatory environment and (v) other factors which are more fully described in our periodic filing with the Securities and Exchange Commission. When used in this presentation, the words “believes,” “projected,” “estimates,” “plans,” “expects,” “should,” “may,” “might,” “outlook,” and “anticipates,” and similar expressions as they relate to BancGroup (including its subsidiaries) or its management are intended to identify forward-looking statements. Forward-looking statements speak only as to the date they are made. BancGroup does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

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