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 June 18, 2010): June 22, 2010

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.)

100 Colonial Bank Blvd.

Montgomery, Alabama 36117

(Address of principal executive offices)

(334) 676-5000

(Registrant’s telephone number)

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 8.01. Other Events.

Filing of Monthly Operating Report for the Period Ended May 31, 2010

On June 18, 2010, The Colonial BancGroup, Inc. (the Company) filed its monthly operating report for the period May 1, 2010 through May 31, 2010 (the May Monthly Operating Report) with the United States Bankruptcy Court for the Middle District of Alabama, Northern Division.

Before reading the May Monthly Operating Report, we strongly urge you to read the Summary Cautionary Statement Regarding the May Monthly Operating Report below.

The May Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Summary Cautionary Statement Regarding May Monthly Operating Report

The May Monthly Operating Report contains financial information that has not been audited or reviewed by independent registered accountants, is not presented in accordance with generally accepted accounting principles and may be subject to future reconciliation and adjustments. The information contained in the May Monthly Operating Report has been prepared in accordance with applicable law under Chapter 11 of Title 11 of the United States Code and is not to be used for investment purposes. There can be no assurance that the May Monthly Operating Report is complete. The Company may amend or otherwise change the information contained in the May Monthly Operating Report at a future date. Results set forth in the May Monthly Operating Report should not be viewed as indicative of future results.

The information contained in the May Monthly Operating Report represents financial information of the Company only and does not include financial information for any subsidiary. The May Monthly Operating Report should under no circumstances be relied upon or viewed as a substitute, supplement or replacement for financial information that is filed with the U.S. Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

The above cautionary statement is a summary of the disclaimer included in the May Monthly Operating Report and is qualified in its entirety by reference to the May Monthly Operating Report incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

The following exhibit is being furnished herewith:

Exhibit No.	Exhibit
99.1	The Colonial BancGroup, Inc. Monthly Operating Report for the period ended May 31, 2010

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/    SIMUEL SIPPIAL JR.
	Simuel Sippial, Jr.
	Chairman

Date: June 21, 2010

EX-99.1

Exhibit 99.1

United States Bankruptcy Court

Middle District of Alabama

In re	The Colonial BancGroup, Inc.	Case No.	09-32303 (DHW)
Debtor		Chapter 11 Case

MONTHLY OPERATING REPORT (NON-SMALL BUSINESS ENTITY)

Month:                     May                 Date Filed: June 14, 2010

Line of Business: Bank Holding Company                 NAICS Code:              52

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE. THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE.

RESPONSIBLE PARTY

/s/ Kevin O’Halloran

ORIGINAL SIGNATURE OF RESPONSIBLE PARTY

Kevin O’Halloran

PRINTED NAME OF RESPONSIBLE PARTY

QUESTIONNAIRE: (All questions to be answered on behalf of the debtor.)		YES	NO
1.	IS THE BUSINESS STILL OPERATING?	x	¨
2.	HAVE YOU PAID ALL YOUR BILLS ON TIME THIS MONTH?	x	¨
3.	DID YOU PAY YOUR EMPLOYEES ON TIME?	x	¨
4.	HAVE YOU DEPOSITED ALL THE RECEIPTS FOR YOUR BUSINESS IN TO THE DIP ACCOUNT THIS MONTH?	x	¨
5.	HAVE YOU FILED ALL OF YOUR TAX RETURNS AND PAID ALL OF YOUR TAXES THIS MONTH?	¨	x
6.	HAVE YOU TIMELY FILED ALL OTHER REQUIRED GOVERNMENT FILINGS?	¨	x
7.	HAVE YOU PAID ALL OF YOUR INSURANCE PREMIUMS THIS MONTH?	x	¨
8.	DO YOU PLAN TO CONTINUE TO OPERATE THE BUSINESS NEXT MONTH?	x	¨
9.	ARE YOU CURRENT ON YOUR CHAPTER 11 QUARTERLY FEE PAYMENT?	x	¨
10.	HAVE YOU PAID ANYTHING TO YOUR ATTORNEY OR OTHER PROFESSIONAL THIS MONTH?	x	¨
11.	DID YOU HAVE ANY UNUSUAL OR SIGNIFICANT UNANTICIPATED EXPENSES THIS MONTH?	¨	x
12.	HAS THE BUSINESS SOLD ANY GOODS OR PROVIDED SERVICES OR TRANSFERRED ANY ASSETS TO ANY BUSINESS RELATED TO THE DIP IN ANY WAY?	¨	x
13.	DO YOU HAVE ANY BANK ACCOUNTS OPEN OTHER THAN THE DIP ACCOUNT(S)?	¨	x

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14.	HAVE YOU SOLD ANY ASSETS OTHER THAN INVENTORY THIS MONTH?	¨	x
15.	DID ANY INSURANCE COMPANY CANCEL YOUR POLICY THIS MONTH?	¨	x
16.	HAVE YOU BORROWED MONEY FROM ANYONE THIS MONTH?	¨	x
17.	HAS ANYONE MADE AN INVESTMENT IN YOUR BUSINESS THIS MONTH?	¨	x
18.	HAVE YOU PAID ANY BILLS YOU OWED BEFORE YOU FILED BANKRUPTCY?	¨	x
	TAXES (Exhibit A)
DO YOU HAVE ANY PAST DUE TAX RETURNS OR PAST DUE POST-PETITION TAX OBLIGATIONS? IF YES, PLEASE PROVIDE A WRITTEN EXPLANATION INCLUDING WHEN SUCH RETURNS WILL BE FILED, OR WHEN SUCH PAYMENTS WILL BE MADE AND THE SOURCE OF THE FUNDS FOR THE PAYMENT.		¨	x

INCOME (Exhibit B)
PLEASE SEPARATELY LIST ALL OF THE INCOME YOU RECEIVED FOR THE MONTH. THE LIST SHOULD INCLUDE ALL INCOME FROM CASH AND CREDIT TRANSACTIONS.
TOTAL INCOME			$	309.25
SUMMARY OF CASH ON HAND
Cash on Hand at Start of Month			$	38,036,896.20
Cash on Hand at end of Month			$	37,513,057.86
PLEASE PROVIDE THE TOTAL AMOUNT OF CASH CURRENTLY AVAILABLE TO YOU.		TOTAL	$	1,027,550.47
EXPENSES (Exhibit C)
PLEASE SEPARATELY LIST ALL EXPENSES PAID FROM YOUR BANK ACCOUNTS THIS MONTH. INCLUDE THE DATE PAID, WHO WAS PAID THE MONEY, THE PURPOSE AND THE AMOUNT.
TOTAL EXPENSES			$	524,147.59
CASH PROFIT
INCOME FOR THE MONTH (TOTAL FROM EXHIBIT B)			$	309.25
EXPENSES FOR THE MONTH (TOTAL FROM EXHIBIT C)			$	524,147.59
(Subtract Line C from Line B)	CASH PROFIT FOR THE MONTH		-$	523,838.34

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UNPAID BILLS (Exhibit D)
PLEASE ATTACH A LIST OF ALL DEBTS (INCLUDING TAXES) WHICH YOU HAVE INCURRED SINCE THE DATE YOU FILED BANKRUPTCY BUT HAVE NOT PAID. THE LIST MUST INCLUDE THE DATE THE DEBT WAS INCURRED, WHO IS OWED THE MONEY. THE PURPOSE OF THE DEBT AND WHEN THE DEBT IS DUE.
TOTAL PAYABLES	$	169.65
MONEY OWED TO YOU (Exhibit E)
PLEASE ATTACH A LIST OF ALL AMOUNTS OWED TO YOU BY YOUR CUSTOMERS FOR WORK YOU HAVE DONE OR THE MERCHANDISE YOU HAVE SOLD. YOU SHOULD INCLUDE WHO OWES YOU MONEY. HOW MUCH IS OWED AND WHEN IS PAYMENT DUE.
TOTAL RECEIVABLES	$	520,520.78
BANKING INFORMATION (Exhibit F)
PLEASE ATTACH A COPY OF YOUR LATEST BANK STATEMENT FOR EVERY ACCOUNT YOU HAVE AS OF THE DATE OF THIS FINANCIAL REPORT OR HAD DURING THE PERIOD COVERED BY THIS REPORT.
EMPLOYEES
NUMBER OF EMPLOYEES WHEN THE CASE WAS FILED?		4
NUMBER OF EMPLOYEES AS OF THE DATE OF THIS MONTHLY REPORT?		2

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PROFESSIONAL FEES
BANKRUPTCY RELATED
PROFESSIONAL FEES RELATING TO THE BANKRUPTCY CASE PAID DURING THIS REPORTING PERIOD?	$	378,784.28
TOTAL PROFESSIONAL FEES RELATING TO THE BANKRUPTCY CASE PAID SINCE THE FILING OF THE CASE?	$	3,046,077.30
NON-BANKRUPTCY RELATED:
PROFESSIONAL FEES PAID NOT RELATING TO THE BANKRUPTCY CASE PAID DURING THIS REPORTING PERIOD?	$	0.00
TOTAL PROFESSIONAL FEES PAID NOT RELATING TO THE BANKRUPTCY CASE PAID DURING THIS REPORTING PERIOD?	$	0.00

ADDITIONAL INFORMATION

PLEASE ATTACH THE BANKRUPTCY ADMINISTRATOR’S BALANCE SHEET, MONTHLY SALARY PAYMENTS TO OWNER(S) SCHEDULE (IF APPLICABLE) AND THE MONTHLY RENTAL INCOME WORKSHEET (IF APPLICABLE). ALSO ATTACH ANY FINANCIAL REPORTS (INCOME STATEMENT, STATEMENT OF CASH FLOWS, AND STATEMENT OF SHAREHOLDERS/PARTNER’S EQUITY) WHICH YOU PREPARE INTERNALLY.

Print Form   Reset Form

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The Colonial BancGroup, Inc.

Attachment to Operating Report

5/1 – 5/31/2010

Financial Reports:

There were no internal financial reports prepared for the reporting period May 1 – May 31, 2010.

DISCLAIMER:

The Colonial BancGroup, Inc. (the “Debtor”) cautions investors and potential investors in the Debtor not to place undue reliance upon the information contained in this Monthly Operating Report, which was not prepared for the purpose of providing the basis of an investment decision relating to any of the securities of the Debtor. The Monthly Operating Report is limited in scope, covers a limited time period and has been prepared solely for the purpose of complying with the monthly operating requirements of the Bankruptcy Court and the Bankruptcy Administrator. The Monthly Operating Report was not audited or reviewed by independent accountants; does not purport to present the financial statements of the Debtor in accordance with generally accepted accounting principles; does not purport to present the market value of any of the Debtor’s assets or liabilities or the recoverability of any of those assets; is in a format prescribed by applicable bankruptcy law; and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Debtor’s securities, the Monthly Operating Report is accurate or complete. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results. This disclaimer applies to all information contained herein. The Debtor reserves all rights to amend the results presented in this Monthly Operating Report.

On August 25, 2009 (the “Petition Date”), the Debtor commenced a voluntary case under Chapter 11 of title 11 of the United States Code with the United States Bankruptcy Court for the Middle District of Alabama. On or about August 14, 2009, the Debtor’s wholly owned bank subsidiary, Colonial Bank, was closed by the Alabama State Banking Department, and the Federal Deposit Insurance Corporation (the “FDIC”) was appointed as receiver of Colonial Bank. Subsequent to the closure, Branch Banking & Trust Company (“BB&T”), in a transaction facilitated by the FDIC, acquired substantially all of the assets of Colonial Bank, including certain books and financial records jointly maintained by the Debtor and Colonial Bank that were seized by the FDIC and, on information and belief, transferred to the custody of BB&T. As a result, the Debtor is not in control of certain information relating to its pre-petition operations and financial affairs, including material accounting information. In addition, as of the date of the acquisition by BB&T, several employees of the Debtor became employees of BB&T. This Monthly Operating Report is prepared, in large part, based upon the information and work product made available to the Debtor by past employees of Colonial Bank and other third parties. The results set forth in this Monthly Operating Report are being investigated further and may vary from the results listed in this Monthly Operating Report.

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Monthly Operating Report - Exhibit A

EXHIBIT A

TAXES

IF ANY PAST DUE TAX RETURNS OR PAST DUE POST-PETITION TAX OBLIGATIONS EXIST, ATTACH A WRITTEN EXPLANATION, INCLUDING WHEN SUCH RETURNS WILL BE FILED, OR WHEN SUCH PAYMENTS WILL BE MADE AND THE SOURCE OF FUNDS FOR THE PAYMENTS (S).

See attached schedule

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The Colonial BancGroup, Inc.

Exhibit A

Taxes

The Colonial BancGroup, Inc. and subsidiaries were assessed certain final assessments of Financial Institution Excise Taxes by the State of Alabama on August 14, 2009 the date that Colonial Bank was placed into receivership. The tax assessments were for prior year tax returns which were timely filed. The parent company, Colonial BancGroup, disputes the taxes assessed and has filed a motion under Section 505.

Below is a summary of the State of Alabama assessments:

Tax Year	Taxes and Interest Amount
2007	$	2,887,050.82
2006		2,534,635.98
2005		752,747.01
2004		99,050.34
2003		535,322.43
2002		739,371.74
2001		1,533,170.71
total	$	9,081,349.03

The Colonial BancGroup, Inc.’s 2008 income tax returns have been filed for both federal and state taxes. Below is a summary of 2008 income tax refunds and income tax payables. Colonial BancGroup is unable to pay the income taxes due to Texas and Idaho because of the bankruptcy filing and the FDIC action causing a freeze on BancGroup’s cash accounts.

	Amount Receivable  (Payable)
Federal	$	930,553.00
State
ID	$	(450.00	)
TN		73,552.00
TX		(120,850.00	)
	$	882,805.00

	Tax Refunds Received (deposited in Tax Escrow Account)
3/4/2010	$        98,783.93 State of Alabama - Privilege Tax Refund

Ongoing Tax Review

The Debtor has obtained Court approval to retain tax professionals regarding the Debtor’s tax obligations and potential refunds. Debtor anticipates filing amended returns requesting refunds from prior years. Any funds received will be deposited in a separate account and ownership will be subjected to Court determination.

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Monthly Operating Report - Exhibit B

EXHIBIT B

SUMMARY OF CASH ON HAND

ATTACH A LIST OF ALL INCOME RECEIVED FOR THE REPORTING PERIOD FROM CASH AND CREDIT TRANSACTIONS.

The U.S. Bankruptcy Administrator (MDAL) will not waive this requirement.

See attached schedule

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The Colonial BancGroup, Inc.

Exhibit B

Cash on Hand

Name of Account	Bank	Account Number	Balance
Colonial BancGroup, Inc. - DIP	Sterling Bank	100-014-158-8	$	135,450.73
Colonial BancGroup, Inc. - DIP Account	Regions Bank	0082646325	$	647,552.73
Colonial BancGroup, Inc. - DIP Account	Regions Bank	0082646333	$	145,514.89
Colonial BancGroup, Inc. - DIP Tax Escrow	Regions Bank	0082646562	$	99,032.12
Petty Cash		n/a	$	0.00
			$	1,027,550.47
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050793234	$	0.00	(2)
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8025001127		12,458,207.89
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050795437		4,000,000.00
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050795460		5,091,170.82
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050795452		5,045,815.06
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050795445		2,282,904.24
The Colonial BancGroup, Inc. - DIP	BB&T (Colonial Bank)	8050793218		7,607,409.38
			$	36,485,507.39	(1)

(1) On August 14, 2009, the FDIC placed a hold on all cash deposits of Colonial BancGroup. BancGroup is unable to access its cash deposits (except for those amounts released per bankruptcy court order). On September 30, 2009 $241,450.00 was transferred to the Sterling Bank Account, $200,000.00 to Parker Hudson Rainer & Dobbs and $90,000.00 to Balch & Bingham. On October 30, 2009 $458,550.00 was transferred to the Sterling Bank Account, $395,000.00 to Parker Hudson Rainer & Dobbs and $40,000.00 to Balch & Bingham. On March 19, 2010, $500,000.00 was transferred to the Regions 6325 Bank Account.

(2) Account xxxxxx3234 closed in September, 2009.

Note: The cash summary does not include investments held in Schwab of approximately $1.9 million which may include some amount of cash.

Cash received during the reporting period 5/1 - 5/31/2010.
Interest on Regions Bank Accounts	$	309.25

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Monthly Operating Report - Exhibit C form revised 05 27 2009

EXHIBIT C

EXPENSES

ATTACH A LIST OF ALL EXPENSES PAID FROM THE DEBTOR’S BANK ACCOUNTS FOR THE REPORTING PERIOD. INCLUDE THE DATE PAID, THE PAYEE, THE PURPOSE AND THE AMOUNT.

The U.S. Bankruptcy Administrator (MDAL) will not waive this requirement.

See attached schedule

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The Colonial BancGroup, Inc.

Exhibit C

Expenses Paid

Date Paid	Check #	Payee	$ Amount	Purpose
		Sterling Bank Account xxxxxx158-8
		None
		Total payments from Sterling Account	—
		Regions Bank Account xxxxxx6325
5/5/2010	1004	Parker Hudson Rainer & Dobbs, LLP	207,597.72	March 2010 fees & expenses
5/5/2010	1005	Moore, Stephens & Tiller	1,589.50	March 2010 fees & expenses
5/5/2010	1006	Balch & Bingham	12,473.74	March 2010 fees & expenses
5/5/2010	1045	Schulte Roth Zabel, LLP	91,280.29	March 2010 fees & expenses
5/5/2010	1046	Burr & Forman, LLP	28,638.14	March 2010 fees & expenses
5/5/2010	1047	Burr & Forman, LLP Escrow Trust	25,462.35	15% based on 1st fee app Oct-Dec’09
5/12/2010	1048	Void check	0.00	Void check
5/14/2010	1007	FedEx	32.04	Shipping
5/14/2010	1008	Newbridge Management, LLC	61,612.01	Jan/Feb/Mar 2010 Employee wage & exp CRO
5/14/2010	1009	Newbridge Management, LLC	36,600.00	May 2010 Employee wage & exp CRO
5/18/2010	1049	Void check	0.00	Void check
5/18/2010	1050	Cohen Pollock Merlin & Small, P.C.	11,742.54	March 2010 fees & expenses
5/24/2010	1051	Haislip, Ragan, Green, Starkie & Watson, P.C.	788.75	Court reporting services
5/24/2010	1052	Herbert A. Biern	44,250.00	Expert for FDIC 365 motion
5/24/2010	1053	Taylor Eaton et al, Inc.	1,420.51	Deposition of Brent Hicks
5/28/2010	1054	RR Donnelley	660.00	Report filing fees
		Total payments from Regions Account	524,147.59
		Professional Fees Paid To Date
9/30/2009		Parker Hudson Rainer & Dobbs, LLP	200,000.00	Wire from Colonial Acct xxxxxx1127
9/30/2009		Balch & Bingham	90,000.00	Wire from Colonial Acct xxxxxx1127
10/30/2009		Parker Hudson Rainer & Dobbs, LLP	395,000.00	Wire from Colonial Acct xxxxxx1127
10/30/2009		Balch & Bingham	40,000.00	Wire from Colonial Acct xxxxxx1127
11/3/2009		Burr & Forman, LLP	122,500.00	Check #1004 from Sterling Acct xxxxxx158-8
11/4/2009		Shulte Roth & Zable, LLP	122,500.00	Wire from Sterling Acct xxxxxx158-8
Jan-10		Shulte Roth & Zable, LLP	198,329.66	Wire from PHRD Escrow Account
Jan-10		Parker Hudson Rainer & Dobbs, LLP	266,618.49	Retained from insurance refund proceeds
Feb-10		Parker Hudson Rainer & Dobbs, LLP	30,807.49	Retained from partnerships sale proceeds
2/18/2010		Burr & Forman, LLP	29,827.42	Check #1061 from Sterling Acct xxxxxx158-8
3/1/2010		Parker Hudson Rainer & Dobbs, LLP	174,196.61	Check #1008 from Sterling Acct xxxxxx158-8
3/1/2010		Moore Stephens Tiller	13,359.56	Check #1009 from Sterling Acct xxxxxx158-8
3/1/2010		Burr & Forman, LLP	58,616.46	Check #1001 from Regions Acct xxxxxx6325
3/18/2010		Balch & Bingham	33,868.44	Check #1002 from Regions Acct xxxxxx6325
4/7/2010		Balch & Bingham	4,410.01	Check #1032 from Regions Acct xxxxxx6325
4/7/2010		Burr & Forman, LLP	58,088.22	Check #1033 from Regions Acct xxxxxx6325
4/7/2010		Moore, Stephens & Tiller	2,312.00	Check #1034 from Regions Acct xxxxxx6325
4/7/2010		Shulte Roth & Zable, LLP	155,514.33	Check #1035 from Regions Acct xxxxxx6325
4/7/2010		Shulte Roth & Zable, LLP	80,794.64	Check #1036 from Regions Acct xxxxxx6325
4/7/2010		Shulte Roth & Zable, LLP	300,055.07	Check #1037 from Regions Acct xxxxxx6325
4/7/2010		Shulte Roth & Zable, LLP	130,147.39	Check #1038 from Regions Acct xxxxxx6325
4/7/2010		Parker Hudson Rainer & Dobbs, LLP	152,865.96	Check #1039 from Regions Acct xxxxxx6325
4/7/2010		Cohen Pollock Merlin & Small, P.C.	7,481.27	Check #1040 from Regions Acct xxxxxx6325
5/5/2010		Parker Hudson Rainer & Dobbs, LLP	207,597.72	Check #1004 from Regions Acct xxxxxx6325
5/5/2010		Moore, Stephens & Tiller	1,589.50	Check #1005 from Regions Acct xxxxxx6325
5/5/2010		Balch & Bingham	12,473.74	Check #1006 from Regions Acct xxxxxx6325
5/6/2010		Schulte Roth Zabel, LLP	91,280.29	Check #1045 from Regions Acct xxxxxx6325
5/6/2010		Burr & Forman, LLP	28,638.14	Check #1046 from Regions Acct xxxxxx6325
5/6/2010		Burr & Forman, LLP Escrow Trust	25,462.35	Check #1047 from Regions Acct xxxxxx6325
5/18/2010		Cohen Pollock Merlin & Small, P.C.	11,742.54	Check #1050 from Regions Acct xxxxxx6325
		Total Professional fees paid to date	3,046,077.30

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Monthly Operating Report - Exhibit D

EXHIBIT D

UNPAID BILLS

ATTACH A LIST OF ALL DEBTS (INCLUDING TAXES) INCURRED SINCE THE BANKRUPTCY FILING DATE BUT HAVE NOT BEEN PAID. THE LIST MUST INCLUDE THE DATE THE DEBT WAS INCURRED, THE NAME OF THE CREDITOR, THE PURPOSE OF THE DEBT AND WHEN THE DEBT IS DUE.

The U.S. Bankruptcy Administrator (MDAL) will not waive this requirement.

Debtor continues to review its obligations - see attached

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The Colonial BancGroup, Inc.

Exhibit D

Unpaid bills

A. Unpaid Invoices

Date incurred	Vendor Name	$ Amount		Due Date	Purpose
8/28/2009	BB&T		169.65	8/28/2009	error in reimbursement of expense
		$	169.65

Note: The Debtor has ongoing obligations for the payment of fees and expenses retained by both the Debtor and Creditor's Committee, all of which are subject to Court approval.

B. Disputed Invoices

Date incurred Vendor Name $ Amount Due Date Purpose

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Monthly Operating Report - Exhibit E

EXHIBIT E

MONEY OWED TO DEBTOR

ATTACH A LIST OF ALL AMOUNTS OWED TO THE DEBTOR BY CUSTOMERS FOR WORK COMPLETED OR MERCHANDISE SOLD. THE LIST MUST INCLUDE THE NAME OF THE CUSTOMER, THE AMOUNT OWED AND WHEN PAYMENT IS DUE.

The U.S. Bankruptcy Administrator (MDAL) will not waive this requirement.

Debtor continues to research other debtor receivables - see attached

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The Colonial BancGroup, Inc.

Exhibit E

Debtor Receivables

Receivable from the FDIC for expenses paid on behalf of Colonial Bank prior to 8/14/09 $ 514,420.78

Note: The FDIC has notified the Debtor that it objects to this claim and the Debtor has therefore filed an action in the Federal District Court disputing this objection.

Receivables from Director’s for meetings not attended:
Lewis Beville		600.00
Robert Craft		5,500.00
Total Pre-petition Receivables	$	520,520.78

Note: While the Debtor does not have traditional trade accounts receivables, it does have intercompany receivables from its primary subsidiary, Colonial Bank. The above-referenced receivable from Colonial Bank related primarily to expenses paid on behalf of Colonial Bank. The Debtor reserves the right to supplement this information based on obtaining access to information and documents that are currently under the control of the FDIC as a result of the receivership of Colonial Bank.

Please see Exhibit A re: anticipated tax refunds

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Monthly Operating Report - Exhibit F

EXHIBIT F

BANKING INFORMATION

When eFiling Exhibit F, please use the CM/ECF event:

Chapter 11 Exhibit F - Monthly Operating Report - Bank Statements (Private Entry)

ATTACH A COPY OF THE MOST RECENT BANK STATEMENT FOR EVERY ACCOUNT THE DEBTOR HAS AS OF THE DATE OF THIS FINANCIAL REPORT OR HAD DURING THE REPORTING PERIOD.

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Additional Information - Ch 11 Monthly Operating Report form revised 03 13 09    

BALANCE SHEET                            For the period ending:		05/31/10
ASSETS
1. Cash
Pre-petition bank accounts	$	36,485,507.39
DIP General/business account	$	1,027,550.47
DIP Payroll account
DIP Tax account
Other (including Cash on Hand)
Sub-total Cash				$	37,513,057.86
2. Securities
3. Accounts Receivable
Pre-petition	$	520,520.78
Post-petition	$	0.00
Sub-total Accounts Receivable				$	520,520.78
4. Office Supplies and Equipment				$	0.00
5. Inventory (Fair Market Value)				$	0.00
6. Other Current Assets				$	0.00
7. Prepaid Insurance				$	0.00
8. Long Term Assets (including real property, heavy equipment, vehicles, etc.)				$	4,520,121.35
9. TOTAL ASSETS							$	42,553,699.99
LIABILITIES                (include both pre- and post-petition debts)
1. Accounts Payable
Pre-petition	$	362,757.31
Post-petition	$	169.65
Sub-total Accounts Payable				$	362,926.96
2. Short Term Notes Payable
Pre-petition
Post-petition
Sub-total Short Term Notes Payable
3. Long Term Notes Payable
Pre-petition	$	358,247,775.00
Post-petition
Sub-total Long Term Notes Payable				$	358,247,775.00
4. Taxes Payable
Pre-petition	$	(882,805.00	)
Post-petition
Sub-total Taxes Payable				$	(882,805.00	)
5. Other Liabilities				$	7,856,878.13
6. TOTAL LIABILITIES							$	365,584,775.09
EQUITY (Total Assets Less Total Liabilities)							$	(323,031,075.10	)
7. TOTAL LIABILITIES & EQUITY							$	42,553,699.99

Case 09-32303	Doc 767	Filed 06/18/10	Entered 06/18/10	13:14:08	Desc Main Document
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Additional Information Balance Sheet/AP Pymts/ Salary Schedule/Rent Roll

Additional Information - Ch 11 Monthly Operating Report

Balance Sheet

Note: Debtor still without access to all its books and records which are controlled by the FDIC/BB&T. The debtor continues to request return of its records from the FDIC and will be able to update, as necessary, these financial statements upon access to its own records.

STATEMENT OF PAYMENTS MADE TO SECURED CREDITORS AND LESSORS

No payments for the reporting period 5/1 - 5/31/2010

1		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
2		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
3		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
4		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
5		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
6		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
7		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
8		Payee:
		Amount paid this period:                                               Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount

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Additional payments made to secured creditors and lessors Additional Information Balance Sheet/AP Pymts/ Salary Schedule/Rent Roll

No payments during the reporting period 5/1 - 5/31/2010

9		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
10		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
11		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
12		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
13		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
14		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
15		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount
16		Payee:
		Amount paid this period:                                                   Check #:
Y	N	Amount included in Expenses
Y	N	Adequate protection payment
		Stated adequate protection payment amount

TOTAL PAYMENTS MADE TO SECURED CREDITORS AND LESSORS

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Additional Information Balance Sheet/AP Pymts/ Salary Schedule/Rent Roll

Monthly Salary Payment to Owner(s)

Payments during the reporting period 5/1 - 5/31/2010 other than CRO.

Debtor(s)	Stated Amount	Amount Paid	Transaction Number	Amount Past Due
TOTAL

Monthly Rental Income Worksheet for the month ending                        

No payments during the reporting period 5/1 - 5/31/2010

Property Description	Written Contract*	Contract Expiration Date	Contracted Monthly Rental Payment	Rental Amount Past Due	Rental Amount Received this Month	Mortgage Amount Paid by Debtor(s)**
Monthly Totals

* (N) No Contract, (L) Lease or (DF) Debtor Financed under a Rent to Own, Bond for Title or similar contract

** Per Order for Adequate Protection or Use of Cash Collateral

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Additional Information Balance Sheet/AP Pymts/ Salary Schedule/Rent Roll