56-440: Colonial Bank may refer to: Colonial Bank (United States) Colonial Bank (West Indies) Colonial Bank of Australasia Colonial Bank of Issue Colonial Bank of New Zealand Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title Colonial Bank . If an internal link led you here, you may wish to change
112-558: A 60-man party along the Spanish Trail to Los Angeles , California, in 1829. In 1844, John C. Frémont arrived, and his writings helped lure pioneers to the area. Downtown Las Vegas's Fremont Street is named after him. Eleven years later, members of the Church of Jesus Christ of Latter-day Saints chose Las Vegas as the site to build a fort halfway between Salt Lake City and Los Angeles, where they would travel to gather supplies. The fort
168-499: A female householder with no husband present, and 33.5% were non-families. 25.0% of all households were made up of individuals, and 7.5% had someone living alone who was 65 years of age or older. The average household size was 2.66 and the average family size was 3.20. In the city, the population age distribution was as follows: The median age was 34 years. For every 100 females, there were 103.3 males. For every 100 females age 18 and over, there were 102.5 males. The median income for
224-455: A household in the city was $ 53,000 and the median income for a family was $ 58,465. Males had a median income of $ 35,511 versus $ 27,554 for females. The per capita income for the city was $ 22,060. About 6.6% of families and 8.9% of the population were below the poverty line, including 5.4% of those under age 18 and 6.3% of those age 65 or over. According to a 2004 study, Las Vegas has one of the highest divorce rates. The city's high divorce rate
280-614: A mortgage operation servicing customers in 45 states, Colonial also added assets outside the Southeast, such as the Las Vegas -based Commercial Bank and FirstBank of Dallas in 1998. However, poor financial performance led to cost-cutting measures by year's end. The number of branches had increased to 263 by 2002. The bank ran into problems in the late 2000s after it was revealed that it had bought over $ 1 billion in mortgages from Taylor, Bean & Whitaker that Taylor Bean did not own in one of
336-489: A movement to encourage xeriscapes . Another part of conservation efforts is scheduled watering days for residential landscaping. A U.S. Environmental Protection Agency grant in 2008 funded a program that analyzed and forecast growth and environmental effects through 2019. Las Vegas has a subtropical hot desert climate ( Köppen climate classification : BWh ), typical of the Mojave Desert in which it lies. This climate
392-544: A pretrial brief issued by the trustee, former PricewaterhouseCoopers chairman Dennis Nally is quoted in a 2007 Wall Street Journal article saying that the "audit profession has always had a responsibility for the detection of fraud". On March 15, 2019, the Federal Deposit Insurance Corporation (FDIC) as receiver for Colonial Bank announced a $ 335 million settlement with PricewaterhouseCoopers LLP (PwC) related to professional negligence claims brought by
448-505: A scheme to defraud various entities and individuals, including Colonial Bank, Colonial BancGroup, Taylor, Bean & Whitaker, the Troubled Asset Relief Program, and the investing public. According to court documents, Taylor, Bean & Whitaker began running overdrafts in its master bank account at Colonial Bank. Starting in 2002, Kissick, Farkas and their co-conspirators engaged in a series of fraudulent actions to cover up
504-508: A search warrant at its mortgage warehouse lending offices in Orlando, Florida, and that it had been forced to sign a cease and desist order with the Federal Reserve and regulators in relation to its accounting practices and its recognition of losses. On August 14, 2009, the bank failed and its 346 branches were seized by regulators. $ 22 billion of the bank's deposits were subsequently sold by
560-578: A subsidiary of Colonial BancGroup , was headquartered in Montgomery, Alabama . Colonial Bank had 346 branches in the states of Alabama , Georgia , Florida , Nevada and Texas . Colonial's assets had grown from $ 166 million in 1981 to $ 26 billion. Colonial expanded from its base of Alabama to fast-growing regional markets such as Florida, Georgia, Texas, and Nevada. Colonial Bank was the fifth-largest commercial bank in Florida and 27th-largest commercial bank in
616-586: Is 95 °F (35 °C) on July 19, 2005, and July 1, 2013. The official record cold daily maximum is 28 °F (−2 °C) on January 8 and 21, 1937. July 2024 was the hottest month ever recorded in Las Vegas, with its highest recorded mean daily average temperature over the month of 99.9 °F (38 °C), its highest recorded mean daily maximum temperature of 111.5 °F (44 °C), and its highest recorded mean nightly minimum temperature of 88.3 °F (31 °C). Due to concerns about climate change in
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#1732848048809672-553: Is a top-three U.S. destination for business conventions and a global leader in the hospitality industry , claiming more AAA Five Diamond hotels than any other city in the world. Las Vegas annually ranks as one of the world's most visited tourist destinations. The city's tolerance for numerous forms of adult entertainment has earned it the nickname " Sin City ", and has made Las Vegas a popular setting for literature, films , television programs , commercials and music videos. Las Vegas
728-576: Is abundant in all seasons. December is both the year's coolest and cloudiest month, with an average daytime high of 56.9 °F (13.8 °C) and sunshine occurring during 78% of its daylight hours. Winter evenings are defined by clear skies and swift drops in temperature after sunset, with overnight minima averaging around 40 °F (4.4 °C) in December and January. Owing to its elevation that ranges from 2,000 to 3,000 feet (610 to 910 m), Las Vegas experiences markedly cooler winters than other areas of
784-535: Is an internationally renowned major resort city , known primarily for its gambling , shopping, fine dining, entertainment, and nightlife , with most venues centered on downtown Las Vegas and more to the Las Vegas Strip just outside city limits. The Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada. According to the United States Census Bureau ,
840-438: Is approximately 2,030 ft (620 m) above sea level, though the surrounding peaks reach elevations of over 10,000 feet (3,000 m) and act as barriers to the strong flow of moisture from the surrounding area. According to the United States Census Bureau , the city has an area of 135.86 sq mi (351.9 km ), of which 135.81 sq mi (351.7 km ) is land and 0.05 sq mi (0.13 km ) (0.03%)
896-435: Is marked by significant diurnal temperature variation . While less extreme than other parts of the state, nighttime lows in Las Vegas are often 30 °F (16.7 °C) or more lower than daytime highs. The average hottest night of the year is 90 °F (32 °C). The all-time record is at 95 °F (35 °C). Las Vegas winters are relatively short, with typically mild daytime temperatures and chilly nights. Sunshine
952-467: Is not wholly due to Las Vegans themselves getting divorced. Since divorce is easier in Nevada than in most other states, many people come from across the country for the easier process. Similarly, Nevada marriages are notoriously easy to get. Las Vegas has one of the highest marriage rates of U.S. cities, with many licenses issued to people from outside the area (see Las Vegas weddings ). The primary drivers of
1008-399: Is typified by long, extremely hot summers; warm transitional seasons; and short winters with mild days and cool nights. There is abundant sunshine throughout the year, with an average of 310 sunny days and bright sunshine during 86% of all daylight hours. Rainfall is scarce, with an average of 4.2 in (110 mm) dispersed between roughly 26 total rainy days per year. Las Vegas is among
1064-493: Is water. After Alaska and California, Nevada is the third most seismically active state in the U.S. It has been estimated by the United States Geological Survey (USGS) that over the next 50 years, there is a 10–20% chance of an M6.0 or greater earthquake occurring within 50 km (31 mi) of Las Vegas. Within the city are many lawns, trees, and other greenery. Due to water resource issues, there has been
1120-640: The 2010 Census , the racial composition of Las Vegas was as follows: Source: The city's most populous ethnic group, non-Hispanic Whites, have proportionally declined from 72.1% of the population in 1990 to 47.9% in 2010, even as total numbers of all ethnicities have increased with the population. Hispanics or Latinos of any race make up 31.5% of the population. Of those 24.0% are of Mexican, 1.4% of Salvadoran, 0.9% of Puerto Rican, 0.9% of Cuban, 0.6% of Guatemalan, 0.2% of Peruvian, 0.2% of Colombian, 0.2% of Honduran and 0.2% of Nicaraguan descent. According to research by demographer William H. Frey using data from
1176-450: The 2010 United States Census , Las Vegas has the second-lowest level of black-white segregation of any of the 100 largest U.S. metropolitan areas after Tucson, Arizona . Of the city's Asian residents, according to the city's Asian Chamber of Commerce, Filipinos make up the largest ethnic population within Vegas with over 200,000 in the city. Native Hawaiians are also a major demographic in
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#17328480488091232-420: The Mojave Desert and the adjacent Sonoran Desert that are closer to sea level. The city records freezing temperatures an average of 10 nights per winter. It is exceptionally rare for temperatures to reach or fall below 25 °F (−4 °C). Most of the annual precipitation falls during the winter. February, the wettest month, averages only four days of measurable rain. The mountains immediately surrounding
1288-682: The Northern Club (now the La Bayou ) opened. The most notable of the early casinos may have been Binion's Horseshoe (now Binion's Gambling Hall and Hotel ) while it was run by Benny Binion . Boyd Gaming has a major presence downtown operating the California Hotel & Casino , the Fremont Hotel & Casino , and the Main Street Casino . The Four Queens also operates downtown along
1344-423: The old City Hall building. Las Vegas is the county seat of Clark County , in a basin on the floor of the Mojave Desert , and is surrounded by mountain ranges. Much of the landscape is rocky and arid, with desert vegetation and wildlife. It can be subjected to torrential flash floods, although much has been done to mitigate the effects of flash floods through improved drainage systems. The city's elevation
1400-603: The 1980s; by 1985, with its merger with the Bank of Oxford , it operated in all major metropolitan areas of the state and had $ 750 million in assets. That year, it broke ground on a new headquarters for the bank, the holding company, and Colonial Broadcasting (which owned WLWI-AM-FM radio), the Colonial Financial Center. In 1987, Colonial intended to enter the Florida Panhandle by buying Liberty Bank of Pensacola on
1456-515: The FDIC against PwC arising out of the audits of the failed Colonial Bank. Las Vegas Las Vegas , colloquially referred to as Vegas , is the most populous city in the U.S. state of Nevada and the seat of Clark County . The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert , and second-largest in the Southwestern United States . Las Vegas
1512-490: The FDIC to BB&T Corp. The bank's failure was the largest bank failure in 2009 and the sixth-largest bank ever to fail in the United States, costing the FDIC's Deposit Insurance Fund an estimated $ 2.8 billion. It was also the 74th bank failure of 2009. The bankruptcy trustee for Taylor, Bean & Whitaker Mortgage Corp., once one of the nation’s biggest privately held mortgage companies, sued PricewaterhouseCoopers as
1568-641: The Fremont Street Experience, was granted variances to allow bars to be closer together, similar to the Gaslamp Quarter of San Diego, the goal being to attract a different demographic than the Strip attracts. The Golden Gate Hotel and Casino , downtown along the Fremont Street Experience, is the oldest continuously operating hotel and casino in Las Vegas; it opened in 1906 as the Hotel Nevada. In 1931,
1624-589: The Las Vegas Valley accumulate snow every winter, but significant accumulation within the city is rare, although moderate accumulations occur every few years. The most recent accumulations occurred on February 18, 2019, when parts of the city received about 1 to 2 inches (2.5 to 5.1 cm) of snow and on February 20 when the city received almost 0.5 inches (1.3 cm). Other recent significant snow accumulations occurred on December 25, 2015, and December 17, 2008. Unofficially, Las Vegas's largest snowfall on record
1680-419: The Las Vegas economy are tourism, gaming , and conventions, which in turn feed the retail and restaurant industries. The major attractions in Las Vegas are the casinos and the hotels, although in recent years other new attractions have begun to emerge. Most casinos in the downtown area are on Fremont Street , with The STRAT Hotel, Casino & Skypod as one of the few exceptions. Fremont East , adjacent to
1736-542: The USA. Colonial Bank was frequently the target of rumors that it would be acquired by a larger bank. Colonial Bank was established in 1981 as part of Colonial BancGroup's relocation to Montgomery from Mobile . The Montgomery bank was formed from the Exchange National Bank of Montgomery, which—like the other banks owned by Colonial—was owned by Robert E. Lowder. Colonial became an aggressive buyer of other Alabama banks in
Colonial Bank - Misplaced Pages Continue
1792-431: The auditor of Colonial Bank, seeking $ 5.5 billion in damages. On December 28, 2017, a Federal judge ruled PricewaterhouseCoopers was liable. The trustee had alleged in the 2013 suit that PricewaterhouseCoopers was negligent in not detecting a massive fraud scheme that brought down Taylor, Bean & Whitaker and helped trigger the 2009 collapse of Colonial Bank, a Montgomery, Alabama, bank with $ 25 billion in assets, one of
1848-779: The bank. As a result, false information was entered on Colonial Bank's books and records, giving the appearance that the bank owned interests in legitimate pools of mortgage loans when in fact the pools had no value and could not be securitized or sold. The fraud caused Colonial BancGroup to file materially false financial data with the SEC regarding its assets in annual reports contained in Forms 10-K and quarterly filings contained in Forms 10-Q. Colonial BancGroup's materially false financial data included overstated assets for mortgage loans that had little to no value. Colonial disclosed its legal problems on August 4, 2009, stating that federal agents had executed
1904-487: The biggest U.S. bank collapses during the Great Recession. The closely watched case could lead to billions of dollars in damages depending on how a jury answers a fundamental question in accounting: How much responsibility do auditors have for catching fraud? PricewaterhouseCoopers maintained in court documents that its responsibility is to follow accounting principles – which might not necessarily detect fraud. But in
1960-535: The biggest fraud cases in history. The CEO of Taylor, Bean & Whitaker, Lee Farkas, was put on trial and found guilty of fraud. Bobby Lowder, the CEO of Colonial Bank, was investigated and was found not involved with the fraud. Between 2002 and 2009, Catherine Kissick, former senior vice president of Colonial Bank and head of Colonial Bank's Mortgage Warehouse Lending Division, and her co-conspirators, including former Taylor, Bean & Whitaker Chairman Lee Farkas, engaged in
2016-521: The city had 641,903 residents in 2020, with a metropolitan population of 2,227,053, making it the 25th-most populous city in the United States. The city bills itself as the Entertainment Capital of the World , and is famous for its luxurious and extremely large casino-hotels. With over 40.8 million visitors annually as of 2023, Las Vegas is one of the most visited cities in the United States . It
2072-627: The city was nicknamed the "Atomic City" . Residents and visitors were able to witness the mushroom clouds (and were exposed to the fallout) until 1963 when the Partial Nuclear Test Ban Treaty required that nuclear tests be moved underground. In 1955, the Moulin Rouge Hotel opened and became the first racially integrated casino-hotel in Las Vegas. During the 1960s, corporations and business tycoons such as Howard Hughes were building and buying hotel-casino properties. Gambling
2128-620: The city, with some Hawaiians and Las Vegas residents calling the city the "ninth island of Hawaii " due to the major influx of Hawaiians to Vegas. There is an Ethiopian community in Las Vegas. The 2010 census showed the city contained 583,756 people, 211,689 households, and 117,538 families residing. The population density was 4,222.5/sq mi (1,630.3/km ). There were 190,724 housing units at an average density of 1,683.3/sq mi (649.9/km ). As of 2006, there were 176,750 households, of which 31.9% had children under age 18 living with them, 48.3% were married couples living together, 12.2% had
2184-439: The desert spring waters needed by westward travelers . The city is often simply called "Vegas". Nomadic Paleo-Indians traveled to the Las Vegas area 10,000 years ago, leaving behind petroglyphs. Ancient Puebloan and Paiute tribes followed at least 2,000 years ago. A young Mexican scout named Rafael Rivera is credited as the first non- Native American to encounter the valley, in 1829. Trader Antonio Armijo led
2240-457: The first day a new Alabama interstate banking law took effect, but this never occurred. Branches were added in Tennessee as part of its purchase of First AmFed of Huntsville in 1993; by this time, through a series of acquisitions of smaller banks, Colonial was the fifth-largest bank holding company in the state. With the purchase of First AmFed and United Savings Bank of Anniston , Colonial ended
2296-409: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Colonial_Bank&oldid=956567102 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Colonial Bank (United States) Colonial Bank , formerly
Colonial Bank - Misplaced Pages Continue
2352-411: The name of the primary city ("Las Vegas" in this case) is often used to describe areas beyond official city limits. In the case of Las Vegas, this especially applies to the areas on and near the Strip, which are actually in the unincorporated communities of Paradise and Winchester . The area was named Las Vegas , which is Spanish for "the meadows", as it featured abundant wild grasses, as well as
2408-599: The overdrafts, first by sweeping overnight money from one Taylor, Bean & Whitaker account with excess in another, and later through the fictitious "sales" of mortgage loans to Colonial Bank, a fraud the conspirators dubbed "Plan B". The conspirators accomplished "Plan B" by selling Colonial Bank mortgage loans that did not exist or that Taylor, Bean & Whitaker had already committed or sold to other third-party investors. Kissick admitted she knew and understood she and her co-conspirators had caused Colonial Bank to pay Taylor, Bean & Whitaker for assets that were worthless to
2464-527: The peak intensity of summer, overnight lows frequently remain above 80 °F (27 °C), and occasionally above 85 °F (29 °C). While most summer days are consistently hot, dry, and cloudless, the North American Monsoon sporadically interrupts this pattern and brings more cloud cover, thunderstorms, lightning, increased humidity, and brief spells of heavy rain. Potential monsoons affect Las Vegas between July and August. Summer in Las Vegas
2520-467: The racial counts and placed in their own category) was 40.44% (259,561) White alone (non-Hispanic) , 12.33% (79,129) Black alone (non-Hispanic) , 0.36% (2,291) Native American alone (non-Hispanic) , 4.68% (22,411) Asian alone (non-Hispanic) , 0.40% (1,935) Pacific Islander alone (non-Hispanic) , 0.14% (650) Other Race alone (non-Hispanic) , 2.51% (11,987) Multiracial or Mixed Race (non-Hispanic) , and 23.61% (112,962) Hispanic or Latino . According to
2576-426: The racial makeup (including Hispanics in the racial counts) was 46.05% (295,594) White alone , 12.85% (82,485) Black alone , 1.14% (7,318) Native American alone , 7.23% (46,398) Asian alone , 0.73% (4,662) Pacific Islander alone , 16.99% (109,045) Other Race alone , and 15.02% (96,401) Multiracial or Mixed Race . According to the 2020 U.S. Census , the racial and ethnic makeup (where Hispanics are excluded from
2632-572: The sunniest, driest, and least humid locations in North America, with exceptionally low dew points and humidity that sometimes remains below 10%. The summer months of June through September are extremely hot, though moderated by the low humidity levels. July is the hottest month, with an average daytime high of 104.5 °F (40.3 °C). On average, 137 days per year reach or exceed 90 °F (32 °C), of which 78 days reach 100 °F (38 °C) and 10 days reach 110 °F (43 °C). During
2688-691: The top of each hour. Due to the realization of many revitalization efforts, 2012 was dubbed "The Year of Downtown". Projects worth hundreds of millions of dollars made their debut at this time, including the Smith Center for the Performing Arts , the DISCOVERY Children's Museum , the Mob Museum , the Neon Museum , a new City Hall complex, and renovations for a new Zappos.com corporate headquarters in
2744-415: The wake of a 2002 drought, daily water consumption has been reduced from 314 US gallons (1,190 L) per resident in 2003 to around 205 US gallons (780 L) in 2015. See or edit raw graph data . The U.S. Census accounts for race by two methodologies. "Race alone" and "Race alone less Hispanics" where Hispanics are delineated separately as if a separate race. According to the 2020 U.S. Census ,
2800-607: The year with 96 branches in Alabama and Tennessee. Colonial debuted in Georgia and Florida simultaneously in 1996 after purchasing Southern Bank of Orlando , the Atlanta -based Commercial Bank of Georgia, and Dothan Federal Savings Bank. In the year from July 1996 to July 1997, Colonial acquired seven Florida banks; it then consolidated all of its separate banks into one, chartered in Alabama, with 181 branches and $ 6 billion in assets. With
2856-472: Was abandoned several years afterward. The remainder of this Old Mormon Fort can still be seen at the intersection of Las Vegas Boulevard and Washington Avenue. Las Vegas was founded as a city in 1905, when 110 acres (45 ha) of land adjacent to the Union Pacific Railroad tracks were auctioned in what would become the downtown area. In 1911, Las Vegas was incorporated as a city. The year 1931
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#17328480488092912-538: Was established. Renamed Nellis Air Force Base in 1950, it is now home to the United States Air Force Thunderbirds aerobatic team. Following World War II, lavishly decorated hotels, gambling casinos, and big-name entertainment became synonymous with Las Vegas. In 1951, nuclear weapons testing began at the Nevada Test Site , 65 miles (105 km) northwest of Las Vegas. During this time,
2968-483: Was pivotal for Las Vegas. At that time, Nevada legalized casino gambling and reduced residency requirements for divorce to six weeks. This year also witnessed the beginning of construction on nearby Hoover Dam . The influx of construction workers and their families helped Las Vegas avoid economic calamity during the Great Depression . The construction work was completed in 1935. In late 1941, Las Vegas Army Airfield
3024-560: Was referred to as "gaming", which transitioned it into a legitimate business. Learning from Las Vegas , published during this era, asked architects to take inspiration from the city's highly decorated buildings, helping to start the postmodern architecture movement. In 1995, the Fremont Street Experience opened in Las Vegas's downtown area. This canopied five-block area features 12.5 million LED lights and 550,000 watts of sound from dusk until midnight during shows held at
3080-427: Was settled in 1905 and officially incorporated in 1911. At the close of the 20th century, it was the most populated North American city founded within that century (a similar distinction was earned by Chicago in the 19th century). Population growth has accelerated since the 1960s and into the 21st century, and between 1990 and 2000 the population nearly doubled, increasing by 85.2%. As with most major metropolitan areas,
3136-519: Was the 12 inches (30 cm) that fell in 1909. In recent times, ice days have not occurred, although 29 °F (−2 °C) was measured in 1963. On average the coldest day is 44 °F (7 °C). The highest temperature officially observed for Las Vegas is 120 °F (48.9 °C), as measured at Harry Reid International Airport on July 7, 2024. The lowest temperature was 8 °F (−13 °C), recorded on two days: January 25, 1937, and January 13, 1963. The official record hot daily minimum
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