Exhibit 99.1

PRESS RELEASE

For more information contact:	April 21, 2008
Lisa Free
(334) 676-5105

COLONIAL BANCGROUP REPORTS 1^st QUARTER EARNINGS

SUMMARY OF 1^st QUARTER 2008 RESULTS:

• Earnings per share of $0.16 for the 1^st quarter, an increase of $0.10 over the 4^th quarter 2007 and a decrease of $0.08 from the 1^st quarter 2007

• $34 million in net charge-offs or 0.84% annualized of average loans for the 1^st quarter, down from 0.88% of average loans in the 4^th quarter 2007

• Provision for loan loss was $35.5 million, down from $93 million in the 4^th quarter 2007; loan loss reserve was 1.50% of net loans at 12/31/07 and 3/31/08

• Nonperforming assets ratio was 1.65% at 3/31/08 compared to 0.86% at 12/31/07 and 0.22% at 3/31/07

• Net interest margin of 2.94% for the 1^st quarter was down 49 basis points from the 4^th quarter 2007 and down 52 basis points from the 1^st quarter 2007

• Average deposit growth of 17% over the 1^st quarter 2007 and 38% annualized over the 4^th quarter 2007

• Core noninterest income growth of 11% over the 1^st quarter 2007; decrease from the 4^th quarter 2007 by 10%

• Solid capital ratios at 3/31/08, Tier I at 8.05%, Total Capital at 12.01% and Leverage at 6.10%

• Issued $250 million of 8.875% subordinated debt

• Total assets of $27 billion at 3/31/08

• Declared quarterly common dividend of $0.095 per share

MONTGOMERY, Ala. - (NYSE: CNB) The Colonial BancGroup, Inc. Chairman, CEO and President, Robert E. Lowder, announced today that the Company’s earnings for the quarter ended March 31, 2008 were $0.16 per diluted share. “I am happy to report that we earned $0.16 per share in the first quarter despite the challenging operating environment for all financial institutions. Our continued profitability is evidence of our ability to deal with a difficult credit environment while continuing to focus on our core business. Over the years, Colonial has weathered many credit cycles. The experience we have gained as we navigated through market downturns has prepared us for the current issues that we face as a Company. As we have stated many times, while Colonial is not immune to the current economic conditions and we expect adverse conditions to continue through the remainder of 2008, we believe that we have identified the problems and those problems are centered in our residential real estate construction portfolio. We are pleased to report that, to date, we have not seen significant declining credit quality trends in the commercial real estate, consumer or C&I portfolios,” said Mr. Lowder.

Colonial also announced today that it will issue common equity in a public offering and will reduce its dividend in order to fortify its balance sheet in this unprecedented period of industry-wide credit losses. Though the Company would remain well-capitalized independent of the offering, the issuance is a proactive and prudent step to allow it to continue its aggressive loan work out efforts while maintaining healthy capital ratios. In addition, illiquid capital markets have resulted in temporary mark-to-market adjustments on Colonial’s highly-rated investment securities portfolio which do not reflect the portfolio’s underlying performance but negatively impact tangible common equity.

“A lesson learned from our prior experiences in times similar to these is the importance of being proactive in a challenging environment. During the first quarter, Colonial issued $250 million of subordinated debt which qualifies as regulatory capital. The common stock offering will provide more capital than would be required to remain well-capitalized even under very severe credit scenarios,” said Mr. Lowder. “Finally, the offering positions us well to create long-term shareholder value when the environment improves.”

The reduction of Colonial’s dividend is part of Colonial’s capital management plan. The dividend reduction will preserve upwards of $60 million of capital annually. “Our decision to reduce our common dividend was not taken lightly. However, we concluded it was the right long-term decision for shareholders because the persistent uncertainties of the current environment demand that we proceed cautiously with respect to capital,” said Mr. Lowder.

Colonial’s net charge-offs were $33.6 million, or 0.84% annualized of average loans, for the first quarter of 2008, down from 0.88% annualized for the fourth quarter of 2007. The nonperforming assets ratio at March 31, 2008 was 1.65% of period-end loans compared to 0.86% at December 31, 2007, reflecting both the continued deterioration in the Company’s residential real estate construction portfolio and the Company’s decision to work out many of its nonperforming loans rather than sell them at a deep discount to their intrinsic value. Colonial’s loan loss provision of $35.5 million exceeded net charge-offs by $2 million, increasing the loan loss reserve to $241 million. The loan loss reserve at March 31, 2008 was 1.50% of period-end loans.

Total loans were $16.1 billion at March 31, 2008 compared to $15.9 billion at December 31, 2007. Construction loans declined by $117 million, or 7% annualized, which was offset by an increase in mortgage warehouse loans.

“We have taken steps to strengthen Colonial’s position. We have systematically identified and isolated problematic credits, created a bankwide loan monitoring process that ends with me, and dedicated highly experienced, skilled people to the task of resolving individual credit situations. We’ve further strengthened our underwriting criteria to include lower loan to value ratios on residential property types, tightened credit criteria for consumer loan products and implemented increased risk based pricing across all lending lines.”

“While we are concentrating on the things that deserve extra care and attention right now, we continue to find that, even in the discouraging times, there are opportunities. So, as demand for loans has diminished, we have focused our loan officers on growing low cost deposits by partnering with the retail branch employees to call on commercial customers. This campaign has been successful as indicated in our deposit growth statistics in the first quarter. Growth in deposits has helped to improve our already strong liquidity position,” said Mr. Lowder.

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Average deposits for the first quarter of 2008 increased 38% annualized from the fourth quarter of 2007 and 17% from the first quarter of 2007. Average retail deposit growth for the first quarter was 9% annualized over the fourth quarter, excluding brokered deposits and the impact of the acquisition of Citrus & Chemical Bancorporation.

Core noninterest income for the first quarter of 2008 increased 11% over the first quarter of 2007. “Another example of our opportunistic approach to the current market cycle occurred in late 2007 when Colonial took advantage of the disruption in the mortgage banking market and hired a team of experienced prime mortgage originators. As a result, mortgage banking fees increased $3.6 million, or 112%, over the first quarter of 2007,” said Mr. Lowder. Colonial’s financial planning services fee income, which increased $990,000, or 26%, over the first quarter of 2007, was also a contributor to noninterest income growth. Annuity sales, a key generator of financial planning services revenue, and fees from increased activity in the fixed income trading area, led to significant growth in financial planning services fee income. The strong fee increases were partially offset by a $6 million, or 86%, decrease in mortgage warehouse fees.

Core noninterest expense increased in the first quarter of 2008 by 12% over the fourth quarter of 2007 due to one full quarter of Citrus & Chemical expenses versus one month in the fourth quarter, seasonal increases in payroll taxes and benefits, increased sub-servicing expenses related to increased mortgage warehouse assets and the cost of FDIC insurance. Colonial’s core noninterest expense to average assets ratio was 2.28% for the first quarter of 2008 compared to 2.22% for the fourth quarter of 2007.

Net interest income declined by $13.6 million from the fourth quarter of 2007 as the Company’s net interest margin contracted by 49 basis points in the quarter. The rapid reductions in the prime and LIBOR rates in the first quarter repriced approximately half of the Company’s loan portfolio. Deposit costs did not decline in tandem with the decline in prime and LIBOR rates due to intense competition for deposit dollars from financial services companies as a result of the illiquid capital markets.

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“If there is a silver lining in this credit cycle, it is that Colonial is prepared to tackle the tough times because of the decisions we made in the good times. With the help of the market insight provided by our local management and boards of directors, we detected signs of overbuilding in certain parts of Florida in 2006. Earlier, we saw the signs of potential weakness in the Miami condominium market. In response, we pulled back on new residential development lending and implemented a moratorium on new high rise condominium development loans. These forward thinking strategies are what Colonial has relied upon and will continue to utilize in order to maintain our position of strength and stability in uncertain times,” concluded Mr. Lowder.

Colonial BancGroup operates 342 branches in Florida, Alabama, Georgia, Nevada and Texas with approximately $27 billion in assets. The Company’s common stock is traded on the New York Stock Exchange under the symbol CNB and is located online at www.colonialbank.com. In some newspapers, the stock is listed as ColBgp.

4

Colonial’s management will host a conference call on April 21, 2008 at 9:00 AM/ET to discuss the earnings results for the first quarter of 2008. Individuals are encouraged to listen to the live webcast of the presentation as well as view a slide presentation by visiting Colonial’s website at www.colonialbank.com. The webcast will be hosted under “Events and Presentations” located under the “Investor Relations” section of the website. To participate in the Q&A session of the conference call, dial (877)397-0300 or (719)325-4864 Toll International, (Leader: Lisa Free).

A replay of the conference call will be available beginning at 12:00 PM/ET on April 21, 2008 and ending at midnight on April 26, 2008 by dialing (888) 203-1112 (Domestic Toll-Free) or (719) 457-0820 (Toll International). The passcode for both numbers is 1764761.

This release includes “forward-looking statements” within the meaning of the federal securities laws. Words such as “believes,” “estimates,” “plans,” “expects,” “should,” “may,” “might,” “outlook,” “potential” and “anticipates,” the negative of these terms and similar expressions, as they relate to The Colonial BancGroup, Inc. (BancGroup) (including its subsidiaries or its management), are intended to identify forward-looking statements. The forward-looking statements in this release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements. In addition to factors mentioned elsewhere in this release or previously disclosed in BancGroup’s SEC reports (accessible on the SEC’s website at www.sec.gov or on BancGroup’s website at www.colonialbank.com), the following factors, among others, could cause actual results to differ materially from forward-looking statements and future results could differ materially from historical performance. These factors are not exclusive:

• losses to our loan portfolio are greater than estimated or expected;

• an inability to raise additional capital on terms and conditions that are satisfactory;

• the impact of current economic conditions on our ability to borrow additional funds to meet our liquidity needs;

• economic conditions affecting real estate values and transactions in BancGroup’s market and/or general economic conditions, either nationally or regionally, that are less favorable then expected;

• changes in the interest rate environment which expand or reduce margins or adversely affect critical estimates as applied and projected returns on investments;

• deposit attrition, customer loss, or revenue loss in the ordinary course of business;

• increases in competitive pressure in the banking industry and from non-banks;

• costs or difficulties related to the integration of the businesses of BancGroup and institutions it acquires are greater than expected;

• the inability of BancGroup to realize elements of its strategic plans for 2008 and beyond;

• natural disasters in BancGroup’s primary market areas which result in prolonged business disruption or materially impair the value of collateral securing loans;

• management’s assumptions and estimates underlying critical accounting policies prove to be inadequate or materially incorrect or are not borne out by subsequent events;

• the impact of recent and future federal and state regulatory changes;

• current and future litigation, regulatory investigations, proceedings or inquiries;

• strategies to manage interest rate risk may yield results other than those anticipated;

• changes which may occur in the regulatory environment;

• a significant rate of inflation (deflation);

• acts of terrorism or war; and

5

• changes in the securities markets.

Many of these factors are beyond BancGroup’s control. The reader is cautioned not to place undue reliance on any forward looking statements made by or on behalf of BancGroup. Any such statement speaks only as of the date the statement was made or as of such date that may be referenced within the statement. BancGroup does not undertake any obligation to update or revise any forward-looking statements.

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THE COLONIAL BANCGROUP, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS (Unaudited)

Statement of Condition Summary

(Dollars in millions)	Mar 31, 2008		Dec 31, 2007		%Change Dec ‘07 to Mar ‘08
Total assets	$	27,353	$	25,976	5	%
Loans, net of unearned income		16,094		15,923	1	%
Total securities		3,495		3,683	-5	%
Non-time deposits		9,578		9,772	-2	%
Total deposits		19,271		18,544	4	%
Shareholders’ equity		2,172		2,274	-4	%

Earnings Summary

	Three Months Ended								Three Months Ended
(In thousands, except per share amounts)	Mar 31, 2008			Dec 31, 2007			% Change Dec ‘07 to Mar ‘08		Mar 31, 2008			Mar 31, 2007			% Change Mar 31, ‘07 to ‘08
Net Income:
Net interest income	$	181,624		$	195,201		-7	%	$	181,624		$	179,945		1	%
Provision for loan losses		35,543			93,295		-62	%		35,543			2,250		1480	%
Core noninterest income (1)		51,672			57,316		-10	%		51,672			46,394		11	%
Securities and derivatives gains, net		6,075			1,950		212	%		6,075			981		519	%
Securities restructuring charges		—			—		—			—			(36,006	)	100	%
Gain on sale of mortgage loans		—			—		—			—			3,850		-100	%
Total noninterest income		57,747			59,266		-3	%		57,747			15,219		279	%
Core noninterest expense (1)		157,810			140,814		12	%		157,810			130,291		21	%
Severance expense		236			2,571		-91	%		236			3,025		-92	%
Merger related expenses		—			1,717		-100	%		—			429		-100	%
Net losses related to the early extinguishment of debt		5,932			—		100	%		5,932			4,396		35	%
Total noninterest expense		163,978			145,102		13	%		163,978			138,141		19	%
Minority interest expense/REIT preferred dividends		5,336			5,336		—			5,336			—		100	%
Income before tax		34,514			10,734		222	%		34,514			54,773		-37	%
Income tax		9,717			1,762		451	%		9,717			18,294		-47	%
Net Income	$	24,797		$	8,972		176	%	$	24,797		$	36,479		-32	%
EARNINGS PER SHARE - DILUTED	$	0.16		$	0.06		167	%	$	0.16		$	0.24		-33	%
Average diluted shares outstanding		157,528			154,532					157,528			153,450
KEY RATIOS:
Net interest margin		2.94	%		3.43	%	-14	%		2.94	%		3.46	%	-15	%
Book value per share	$	13.74		$	14.44		-5	%	$	13.74		$	13.71		—
Book value per share excluding unrealized gain(loss) on AFS securities	$	14.39		$	14.46		—		$	14.39		$	13.72		5	%
Dividends paid per share	$	0.19		$	0.1875		1	%	$	0.19		$	0.1875		1	%

(1) Represents non-GAAP measures.

THE COLONIAL BANCGROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

Earnings Summary

(Dollars in thousands)	1st Qtr. 2008		4th Qtr. 2007		3rd Qtr. 2007		2nd Qtr. 2007		1st Qtr. 2007
Net interest income	$	181,624	$	195,201	$	196,011	$	190,217	$	179,945
Provision for loan loss		35,543		93,295		4,800		6,105		2,250
Noninterest income:
Service charges on deposit accounts		19,228		19,717		19,376		18,694		17,679
Electronic banking		5,004		4,843		4,923		4,648		4,401
Other retail banking fees		2,548		2,614		2,794		3,255		3,612
Retail banking fees		26,780		27,174		27,093		26,597		25,692
Financial planning services		4,812		4,123		4,506		4,283		3,822
Mortgage banking origination and sales		6,760		4,840		3,236		3,660		3,187
Mortgage warehouse fees		995		3,017		5,936		6,332		6,955
Bank-owned life insurance		5,120		5,203		5,070		5,002		4,955
Other income		7,205		12,959		7,117		6,891		1,783
Core noninterest income		51,672		57,316		52,958		52,765		46,394
Securities and derivatives gains, net		6,075		1,950		—		1,116		981
Securities restructuring charges		—		—		—		—		(36,006	)
Gain on sale of mortgage loans		—		—		—		—		3,850
Gain on sale of merchant services		—		—		—		4,900		—
Total noninterest income		57,747		59,266		52,958		58,781		15,219
Noninterest expense:
Salaries and employee benefits		73,667		70,900		68,345		70,256		69,554
Occupancy expense of bank premises, net		23,055		21,848		19,634		18,722		18,505
Furniture and equipment expense		14,703		13,564		13,226		13,350		13,122
Professional services		5,638		5,092		4,967		4,628		4,100
FDIC insurance and other regulatory fees		4,562		2,129		1,727		1,232		1,213
Electronic banking and other retail banking expenses		4,157		4,175		5,766		5,507		4,212
Amortization of intangible assets		4,163		3,606		3,500		3,201		3,051
Communications		2,819		2,531		2,677		2,900		2,991
Loss on equity investments		2,747		1,434		660		670		255
Loan and other real estate related costs		2,649		1,376		1,170		898		338
Postage and courier		2,622		2,736		2,589		2,692		2,639
Advertising		2,603		2,597		1,570		3,683		2,215
Travel		1,439		1,670		1,586		1,950		1,739
Other expense		12,986		7,156		6,281		7,647		6,357
Core noninterest expense		157,810		140,814		133,698		137,336		130,291
Severance expense		236		2,571		500		520		3,025
Merger related expenses		—		1,717		753		1,116		429
Net losses related to the early extinguishment of debt		5,932		—		—		2,512		4,396
Total noninterest expense		163,978		145,102		134,951		141,484		138,141
Minority interest expense/REIT preferred dividends		5,336		5,336		5,336		2,312		—
Income before tax		34,514		10,734		103,882		99,097		54,773
Income tax		9,717		1,762		34,527		32,978		18,294
Net Income	$	24,797	$	8,972	$	69,355	$	66,119	$	36,479
Earnings per share - Diluted	$	0.16	$	0.06	$	0.45	$	0.43	$	0.24

THE COLONIAL BANCGROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)

STATEMENTS OF CONDITION

(Dollars in thousands)	Mar 31, 2008			Dec 31, 2007			Sept 30, 2007			June 30, 2007			Mar 31, 2007
Assets:
Cash and due from banks	$	400,880		$	474,948		$	403,302		$	373,978		$	359,233
Interest bearing deposits in banks, federal funds sold		11,196			100,160			11,269			11,716			238,105
Securities purchased under agreements to resell		2,106,205			2,049,664			2,084,565			1,195,827			1,327,610
Total securities (AFS and HTM)		3,494,654			3,682,510			3,574,510			2,720,205			3,386,146
Loans held for sale		2,951,777			1,544,222			1,243,265			2,040,352			1,113,998
Loans, net of unearned income		16,094,478			15,923,178			15,206,452			15,457,047			14,921,476
Less: Allowance for loan losses		(240,795	)		(238,845	)		(172,678	)		(178,274	)		(172,602	)
Net loans		15,853,683			15,684,333			15,033,774			15,278,773			14,748,874
Premises and equipment, net		509,164			500,558			466,933			464,911			426,893
Intangible assets, net		1,064,485			1,071,605			912,131			915,379			671,282
Bank-owned life insurance		480,722			475,593			472,324			467,240			462,238
Accrued interest and other assets		479,981			392,396			341,993			354,581			337,523
Total Assets	$	27,352,747		$	25,975,989		$	24,544,066		$	23,822,962		$	23,071,902
Liabilities and Shareholders’ Equity:
Noninterest bearing transaction accounts	$	3,050,729		$	2,988,457		$	3,445,459		$	3,166,851		$	2,964,585
Interest bearing transaction accounts		6,526,822			6,783,116			6,331,223			6,505,883			6,444,194
Total non-time deposits		9,577,551			9,771,573			9,776,682			9,672,734			9,408,779
Time deposits		7,828,384			7,317,108			6,834,610			7,052,084			6,532,932
Brokered time deposits		1,865,393			1,455,586			323,349			359,245			441,012
Total deposits		19,271,328			18,544,267			16,934,641			17,084,063			16,382,723
Repurchase agreements		540,589			568,721			571,331			613,289			768,705
Federal funds purchased and other short-term borrowings		639,000			—			751,000			535,320			511,076
Long-term debt		4,169,939			4,023,836			3,604,927			2,919,387			3,051,628
Other liabilities		266,816			272,536			220,015			167,937			261,442
Total liabilities		24,887,672			23,409,360			22,081,914			21,319,996			20,975,574
Minority interest/REIT preferred securities		293,058			293,058			293,206			293,278			—
Total shareholders’ equity		2,172,017			2,273,571			2,168,946			2,209,688			2,096,328
Total Liabilities and Shareholders’ Equity	$	27,352,747		$	25,975,989		$	24,544,066		$	23,822,962		$	23,071,902
Common Shares Issued		168,063,887			167,407,169			163,172,315			163,102,683			156,662,992
Common Shares Outstanding		158,097,161			157,440,442			153,205,588			157,378,056			152,954,065

THE COLONIAL BANCGROUP, INC. AND SUBSIDIARIES

AVERAGE VOLUME AND RATES

(unaudited)

	Three Months Ended
	March 31, 2008							December 31, 2007							March 31, 2007
(Dollars in thousands)	Average Volume		Interest			Rate		Average Volume		Interest			Rate		Average Volume		Interest			Rate
Assets:
Loans, net of unearned income (2)	$	15,994,073	$	261,438		6.57	%	$	15,388,350	$	285,155		7.36	%	$	15,349,322	$	293,474		7.74	%
Loans held for sale (2)		3,160,736		40,397		5.14	%		1,642,694		27,125		6.55	%		1,287,027		21,981		6.93	%
Securities (2)		3,677,145		54,612		5.94	%		3,729,893		55,023		5.90	%		3,265,920		43,005		5.27	%
Securities purchased under agreements to resell		2,115,209		28,259		5.37	%		2,021,052		33,529		6.59	%		1,058,496		17,964		6.87	%
Other interest earning assets		120,231		992		3.32	%		135,136		1,512		4.45	%		97,005		1,171		4.90	%
Total interest earning assets		25,067,394	$	385,698		6.18	%		22,917,125	$	402,344		6.98	%		21,057,770	$	377,595		7.25	%
Nonearning assets (2)		2,582,448							2,414,450							1,996,179
Total assets	$	27,649,842						$	25,331,575						$	23,053,949
Liabilities and Shareholders’ Equity:
Interest bearing non-time deposits	$	6,609,657	$	32,634		1.99	%	$	6,363,370	$	43,564		2.72	%	$	6,313,784	$	48,481		3.11	%
Time deposits		9,080,876		104,872		4.64	%		7,791,880		96,899		4.93	%		6,872,764		84,603		4.99	%
Total interest bearing deposits		15,690,533		137,506		3.52	%		14,155,250		140,463		3.94	%		13,186,548		133,084		4.09	%
Repurchase agreements		544,218		3,705		2.74	%		566,305		5,065		3.55	%		763,461		8,555		4.54	%
Federal funds purchased and other short-term borrowings		1,379,961		11,592		3.38	%		937,034		10,985		4.65	%		1,164,191		15,277		5.32	%
Long-term debt (2)		4,084,015		49,110		4.83	%		3,907,985		48,484		4.93	%		2,925,030		40,018		5.53	%
Total interest bearing liabilities		21,698,727	$	201,913		3.74	%		19,566,574	$	204,997		4.16	%		18,039,230	$	196,934		4.42	%
Noninterest bearing demand deposits		3,067,214							2,982,015							2,780,374
Other liabilities (2)		309,546							236,435							166,607
Total liabilities		25,075,487							22,785,024							20,986,211
Minority interest/REIT preferred securities		293,058							293,098							—
Shareholders’ equity		2,281,297							2,253,453							2,067,738
Total liabilities and shareholders’ equity	$	27,649,842						$	25,331,575						$	23,053,949
Rate differential						2.44	%						2.82	%						2.83	%
Net yield on interest-earning assets on a tax equivalent basis			$	183,785		2.94	%			$	197,347		3.43	%			$	180,661		3.46	%
Taxable equivalent adjustments (1):
Loans				(195	)						(204	)						(146	)
Securities				(1,966	)						(1,942	)						(570	)
Total taxable equivalent adjustments				(2,161	)						(2,146	)						(716	)
Net interest income			$	181,624						$	195,201						$	179,945
TOTAL AVERAGE DEPOSITS
Total interest bearing deposits	$	15,690,533	$	137,506		3.52	%	$	14,155,250	$	140,463		3.94	%	$	13,186,548	$	133,084		4.09	%
Noninterest bearing demand deposits		3,067,214		—		—			2,982,015		—		—			2,780,374		—		—
Total average deposits	$	18,757,747	$	137,506		2.95	%	$	17,137,265	$	140,463		3.25	%	$	15,966,922	$	133,084		3.38	%

(1) Interest earned and average rates on securities and loans exempt from income taxes are reflected on a fully tax equivalent basis using a federal income tax rate of 35%, net of nondeductible interest expense.

(2) Unrealized gains(losses) on available for sale securities and the adjustments for mark to market valuations on hedged assets and liabilities have been classified in either nonearning assets or other liabilities.

THE COLONIAL BANCGROUP, INC. AND SUBSIDIARIES

SELECTED RATIOS AND ASSET QUALITY (unaudited)

SELECTED FINANCIAL RATIOS

	1st Qtr. 2008		4th Qtr. 2007		3rd Qtr. 2007		2nd Qtr. 2007		1st Qtr. 2007
Return on average assets*	0.36	%	0.14	%	1.15	%	1.15	%	0.64	%
Return on average equity*	4.37	%	1.58	%	12.65	%	12.24	%	7.15	%
Efficiency ratio(1)	67.02	%	55.29	%	53.29	%	56.20	%	57.38	%
Noninterest income(1)/ avg assets*	0.75	%	0.90	%	0.88	%	0.92	%	0.82	%
Noninterest expense(1)/ avg assets*	2.28	%	2.22	%	2.24	%	2.38	%	2.26	%
Net interest margin	2.94	%	3.43	%	3.65	%	3.66	%	3.46	%
Tangible common equity ratio:
Tangible common equity	4.21	%	4.83	%	5.32	%	5.65	%	6.36	%
Tangible common equity excluding unrealized gain(loss) on AFS securities	4.59	%	4.84	%	5.40	%	5.80	%	6.37	%
Tier I capital	8.05	%**	8.22	%	8.94	%	9.14	%	8.91	%
Total capital	12.01	%**	11.01	%	11.50	%	11.69	%	11.56	%
Leverage	6.10	%**	6.67	%	7.34	%	7.92	%	7.41	%

(1) These ratios utilize core noninterest income and core noninterest expense which represent non-GAAP measures.

* Annualized

** Estimated

SELECTED CREDIT QUALITY RATIOS

	March 31, 2008		Dec 31, 2007		Sept 30, 2007		June 30, 2007		March 31, 2007
Period end:
Allowance as a percent of net loans	1.50	%	1.50	%	1.14	%	1.15	%	1.16	%
Allowance as a percent of net loans excluding mortgage warehouse loans	1.54	%	1.52	%	1.14	%	1.16	%	1.16	%
Total nonperforming assets as a percent of net loans, other real estate and repossessions	1.65	%	0.86	%	0.46	%	0.29	%	0.22	%
Allowance as a percent of nonperforming assets	90	%	174	%	246	%	391	%	525	%
Allowance as a percent of nonperforming loans	98	%	196	%	280	%	460	%	601	%
Net charge-offs as a percent of average net loans:
Quarter to date (annualized)	0.84	%	0.88	%	0.27	%	0.20	%	0.06	%
Year to date (annualized)	0.84	%	0.35	%	0.18	%	0.13	%	0.06	%

NONPERFORMING ASSETS

(Dollars in thousands)	March 31, 2008			Dec 31, 2007			Sept 30, 2007			June 30, 2007			March 31, 2007
Nonaccrual loans	$	246,482		$	121,886		$	61,599		$	38,719		$	28,721
Restructured loans		—			—			—			—			—
Total nonperforming loans		246,482			121,886			61,599			38,719			28,721
Other real estate owned and repossessions		19,831			15,760			8,554			6,833			4,134
Total nonperforming assets	$	266,313		$	137,646		$	70,153		$	45,552		$	32,855
Aggregate loans contractually past due 90 days for which interest is being accrued	$	70,638		$	23,837		$	20,617		$	19,468		$	6,247
Total charge-offs	$	35,090		$	34,818		$	13,744		$	9,234		$	3,542
Total recoveries		(1,497	)		(923	)		(3,348	)		(1,654	)		(1,347	)
Net charge-offs:
Quarter to date	$	33,593		$	33,895		$	10,396		$	7,580		$	2,195
Year to date	$	33,593		$	54,066		$	20,171		$	9,775		$	2,195