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Business Description THE COLONIAL BANCGROUP, INC. The Colonial BancGroup, Inc. is an Alabama-based bank holding company and financial holding company which conducts, through its wholly-owned banking subsidiary, Colonial Bank, N.A., a general commercial banking business through 273 branches in Alabama, Florida, Georgia, Nevada, Tennessee and Texas. Colonial Bank, N.A. provides corporate and retail banking products and services, including cash management, electronic banking, mortgage banking and wealth management services. Colonial BancGroup also offers retail and discount brokerage services through our broker-dealer, Colonial Brokerage Inc. At June 30, 2003 Colonial BancGroup had total assets of $16.2 billion, total loans of $11.8 billion, total deposits of $9.1 billion and total stockholders’ equity of $1.1 billion. COLONIAL CAPITAL TRUST IV Colonial Capital Trust IV is a statutory trust created under Delaware law pursuant to: • a declaration of trust, dated as of August 22, 2003, executed by Colonial BancGroup, as sponsor, and certain of the trustees of Colonial Capital Trust IV; and • the filing of a certificate of trust with the Secretary of State of the State of Delaware on August 22, 2003. The declaration will be amended and restated in its entirety, as so amended and restated, the “declaration,” substantially in the form filed as an exhibit to the registration statement which contains this prospectus. The declaration will be qualified as an indenture under the Trust Indenture Act of 1939, as amended, the “Trust Indenture Act.” Colonial Capital Trust IV exists for the exclusive purposes of: (1) issuing and selling the trust securities representing undivided beneficial interests in the assets of Colonial Capital Trust IV; (2) investing the gross proceeds of the trust securities in the junior subordinated debentures; (3) making distributions; and (4) engaging only in other necessary or incidental activities. The junior subordinated debentures will be the sole assets of Colonial Capital Trust IV. Prior to the issuance of the preferred securities, Colonial BancGroup will directly or indirectly acquire common securities in an aggregate liquidation amount equal to at least 3% of the total capital of Colonial Capital Trust IV. Upon issuance of the preferred securities, the purchasers will own all of the preferred securities.