8-K

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): June 1, 2005

THE COLONIAL BANCGROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-13508	63-0661573
(State of Incorporation)	(Commission File No.)	(IRS Employer I.D. No.)

Colonial Financial Center, Suite 800 One Commerce Street, Montgomery, Alabama	36104
(Address of Principal Executive Office)	(Zip code)

Registrant’s telephone number, including area code: 334-240-5000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

Effective June 1, 2005, W. Flake Oakley, IV, the President of The Colonial BancGroup, Inc., resigned. Effective on the same date, Mr. Oakley also resigned as President and Director of Colonial Bank, N.A., the principal subsidiary of BancGroup, and from all other positions held with BancGroup, the bank and all subsidiaries of BancGroup and the bank.

Item 9.01 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	Press release announcing the resignation of W. Flake Oakley, IV.

SIGNATURES

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. (Registrant)
Date: June 1, 2005
	/s/ Robert E. Lowder
	BY: Robert E. Lowder
	ITS: Chairman of the Board and     Chief Executive Officer

EX-99.1

Exhibit 99.1

PRESS RELEASE

For more information contact:	June 1, 2005
Glenda Allred (334) 240-5064

Flake Oakley Resigns as President of Colonial BancGroup

Montgomery, AL — The Colonial BancGroup, Inc. announced today that W. Flake Oakley, IV has resigned as President of the Company and as President and director of Colonial Bank, N.A. Mr. Oakley’s resignation is effective on June 1, 2005. In connection with his departure, Mr. Oakley has entered into a consulting agreement with Colonial. The agreement provides that Mr. Oakley will be available through December 31, 2005, to consult with the Company.

Commenting on Mr. Oakley’s decision, Robert E. Lowder, Chairman and CEO of Colonial said, “Flake Oakley has devoted 17 years of loyal service to Colonial, serving as our President since August, 2003. During all of that time, Colonial has experienced tremendous growth from a $1.3 billion to a $20 billion institution, in no small part as a result of Flake’s hard work on behalf of the Company and its shareholders. I speak for the entire Colonial organization when I thank him for his part in Colonial’s success and offer him sincere best wishes in his future endeavors.”

Mr. Oakley indicated that his decision to leave Colonial was prompted by a desire to pursue personal and new professional interests. “Colonial is a great organization, and I have derived genuine satisfaction from being a part of its successful growth,” Mr. Oakley said. “However, I believe that the time is right for me to consider new opportunities and explore a different path.”

It is expected that, at Colonial’s July board meeting, Robert E. Lowder will be renamed to the additional position of President of the Company.

Colonial BancGroup, a multi-state bank holding company headquartered in Montgomery, Alabama, has assets of approximately $20 billion and operates 323 offices in Florida, Alabama, Georgia, Nevada and Texas and is traded on the New York Stock Exchange under the symbol CNB. In most newspapers the stock is listed as ColBgp.