Colonial looks to board to fill top jobs - Orlando Business Journal:

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The appointments of Sippial and Beville are effectivee today but are subject to finao approval by the appropriateregulatoru authorities, Colonial said in a release. Colonialp BancGroup (NYSE: CNB), headquarterex in Montgomery, Ala., is a $26 billionh holding company with 352 branches infive states. is amongh the largest banks in the Tampa Bay area with50 $2.8 billion in depositsd and a 3.6 percent deposit market according to the most recent information available from the Colonial recently made a deal for a $300 milliom capital infusion that gives of Ocal controlling interest in the bank, which has strugglex in part because of its exposure to the Florida real estate Sippial, president and founder of , a real estatse investment company based in Montgomery, has served on the boardr of directors of Colonial since 1997.
In addition to his regular board he will receive an annual retainerof $300,000 and an annuaol transportation allowance of $10,000, a filinyg with the said. Beville, who also has served on the Coloniao boardsince 1997, will be taking a leavse of absence from his position as vice president/treasurert at T&B Ltd., an insurance agencty in Mobile, Ala., operating under the name . Bevillee does not have a written contract with but he will receive a base annual salaryof $850,000, the SEC filing said. In lieu of a relocatiobn package, he will receive up to $50,000 in annual housint allowance and an annual transportation allowancwof $10,000.
Neither Sippial nor Beville will initiallty take part in a definexdincentive plan, and neitherd was granted any equity compensation or signing bonus, the filing