Filing of Monthly Operating Report for the Period Ended October 31, 2009

On November 20, 2009, The Colonial BancGroup, Inc. (the Company) filed its monthly operating report for the period October 1, 2009 through October 31, 2009 (the October Monthly Operating Report) with the United States Bankruptcy Court for the Middle District of Alabama, Northern Division.

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

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

Summary Cautionary Statement Regarding October Monthly Operating Report

The October 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 October 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 October Monthly Operating Report is complete. The Company may amend or otherwise change the information contained in the October Monthly Operating Report at a future date. Results set forth in the October Monthly Operating Report should not be viewed as indicative of future results.

The information contained in the October Monthly Operating Report represents financial information of the Company only and does not include financial information for any subsidiary. The October 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 October Monthly Operating Report and is qualified in its entirety by reference to the October Monthly Operating Report incorporated herein by reference.

The following exhibit is being furnished herewith:

Exhibit No.       Exhibit

99.1              The Colonial BancGroup, Inc. Monthly Operating Report for the
                  period ended October 31, 2009