Colonial looks to board to fill top jobs - San Francisco Business Times:

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The appointments of Sippial and Bevill e are effective today but are subject to finall approval by the appropriateregulatory authorities, Colonial said in a Colonial BancGroup (NYSE: CNB), headquartered in Ala., is a $26 billionn holding company with 352 branches in five states. is among the largest banks in the Tampa Bay area with50 offices, $2.8 billioj in deposits and a 3.6 percent deposit markeyt share, according to the most recent informatioh available from the Colonial recently made a deal for a $300 milliohn capital infusion that gives of Ocalaq controlling interest in the bank, which has strugglefd in part because of its exposurer to the Florida real estate Sippial, president and founder of , a real estatd investment company based in Ala.
, has served on the boarde of directors of Colonial sincre 1997. In addition to his regular board compensation, he will receive an annual retainefr of $300,000 and an annuall transportation allowance of $10,000, a filing with the Beville, who also has served on the Colonial board since 1997, will be takin a leave of absence from his positiom as vice president/treasurer at T&B Ltd., an insurances agency in Mobile, Ala., operating under the name . Bevill does not have a written contracgwith Colonial, but he will receive a base annua salary of $850,000, the SEC filing said.
In lieu of a relocationj package, he will receive up to $50,000 in annual housinhg allowance and an annual transportatioj allowanceof $10,000. Neither Sippial nor Beville will initially take part in a definedfincentive plan, and neither was granted any equity compensation or signing the filing said.