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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): 10/30/97
THE COLONIAL BANCGROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-13508 63-0661573
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
One Commerce Street, Montgomery, Alabama 36104
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (334) 240-5000
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ITEM 5. OTHER EVENTS
On October 15, 1997, Purser L. McLeod, Jr. was approved by the Board of
Directors of Registrant to serve as its President. Mr. McLeod will serve for the
next six months or until his successor is hereby elected and qualified. For the
period from 1984 until his election, Mr. McLeod served as President and Chief
Executive Officer of Colonial Bank, Montgomery.
The following table reflects Mr. McLeod's compensation for the most recent
fiscal year.
<TABLE>
<CAPTION>
Annual Compensation Long-Term Compensation Awards
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Securities
Restricted Stock Underlying All Other
Name and Principal Position Year Salary Bonus Awards(1) Options Compensation (2)
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<S> <C> <C> <C> <C> <C> <C>
President of the Registrant 1996 $167,523 $30,000 $118,125 10,000 $5,026
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(1) Represents the market value, on the date of grant, of shares awarded under
BancGroup's Stock Bonus Plan. Mr. McLeod was granted 6,000 shares on
December 19, 1996 which vest 20% per year beginning one year from the grant
date.
(2) The amount shown reflects the annual company payments to BancGroup's defined
contribution plan.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
THE COLONIAL BANCGROUP, INC.
By: /s/ W. Flake Oakley, IV.
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W. Flake Oakley, IV.
Its Chief Financial Officer
On: October 30, 1997
