Update: Taylor, Bean & Whitaker Buying Colonial Bancgroup?

What to do if your warehouse bank is in trouble? What else - buy it! Taylor Bean & Whitaker already had thrift status thru their purchase of Platinum Community Bancshares, and today EarthTimes reports Colonial BancGroup has entered into a definitive material agreement with a group of investors headed by Taylor Bean & Whitaker to inject $300 million into the ailing bank that ranks among the few warehouse lenders still standing.