Bobby Lowder | |
|---|---|
 Lowder in 2023 | |
| Born | Robert E. Lowder 1944 (age 79–80) Montgomery, Alabama, U.S. |
| Education | Auburn University (BS) |
| Title | Founder and CEO of Colonial Bank |
Robert E. Lowder (born ca. 1944 in Alabama) is a former American banking executive, and founder and former longtime CEO of the failed Colonial Bank and Colonial BancGroup, Colonial Bank's former parent company. He also served as a trustee at his alma mater Auburn University from 1983 to 2012. [1]
Lowder is an Auburn University alumnus, graduating with a B.S. in Business Administration in 1964. [2] While at Auburn he was a member of the Army ROTC and the Sigma Pi fraternity. [3]
Lowder was Chairman of the Board and CEO of Colonial BancGroup, positions he held for 25 years. In 2006, his total compensation was $2.77 million and his five-year compensation total was $11.23 million, making him one of the 50 most highly compensated banking executives in the United States at that time. [4] He retired from Colonial Bank on May 28, 2009, but remained on the Board of Trustees at Auburn University.
Colonial BancGroup was reported to be under Federal investigation for possible criminal activities of its financial dealings in its mortgage subsidiary in August, 2009, [5] and on August 14, 2009, Colonial Bank was shut down by banking regulators, with its deposits and branches purchased by BB&T. [6]
Lowder began serving on the Auburn University Board of Trustees in 1983. In 2001, the Board of Trustees at Auburn summarily dismissed President William Muse, inspiring anger and votes of no confidence in Board members. The widespread belief on campus was that Lowder exerted tight private control over the Board, and thus over the ostensibly public university, using his clout to place some of his close friends in positions of power. [7]
Lowder has long been regarded as one of the nation's most powerful college boosters and power-behind-the-scenes trustees at Auburn. [8] [9] In 2003, when then-University President William F. Walker and athletic director David Housel secretly spoke with University of Louisville football coach Bobby Petrino about taking over Auburn University football coach Tommy Tuberville's job, it was Lowder's private jet which they flew to Louisville. [10]
In the Spring of 2011, Alabama Governor Robert J. Bentley was the decisive vote on the five member nominating committee, which chose to re-appoint Lowder for another twelve-year term on the Board. Some claims suggest the Governor voted in favor of Lowder due to his wife's donation of $25,000 to the Bentley campaign on September 21, 2010. [11] Following this vote, a former alumni association president, Andy Hornsby, filed a civil lawsuit in Lee County Circuit Court, claiming that the appointment violated the state's Open Meetings Act. [12] Just a few days later, on May 16, 2011, Lowder contacted the Governor's Office asking his name be withdrawn from consideration for reappointment.
Lowder's tenure on the Auburn University Board of Trustees ended on April 10, 2012, when the Alabama state senate voted to replace five of the fourteen members. Lowder's successor on the board, M. Clark Sahlie, was elected to a seven-year term. [13]
U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.
The Alabama–Auburn football rivalry, better known as the Iron Bowl, is an American college football rivalry game between the University of Alabama Crimson Tide and the Auburn University Tigers, both charter members of the Southeastern Conference (SEC) and both teams are located in the state of Alabama. The series is considered one of the most important football rivalries in American sports. The rivalry, which started in 1893, was played for many years at Legion Field in Birmingham, Alabama. In the early 20th Century, Birmingham was the leading industrial city of the South, rivaling Pittsburgh, Pennsylvania in the production of pig iron, coke, coal and the manufacture of steel. Thus, the term "Iron Bowl" came to represent the rivalry. Auburn Coach Ralph "Shug" Jordan is credited with actually coining it—when asked by reporters in 1964 how he would deal with the disappointment of not taking his team to a bowl game, he responded, "We've got our bowl game. We have it every year. It's the Iron Bowl in Birmingham."
Thomas Hawley Tuberville is an American politician and retired college football coach who is the senior United States senator from Alabama, a seat he has held since 2021. Before entering politics, Tuberville was the head football coach at Auburn University from 1999 to 2008. He was also the head football coach at the University of Mississippi from 1995 to 1998, Texas Tech University from 2010 to 2012, and the University of Cincinnati from 2013 to 2016.
Terry Wilson Bowden is an American college football coach. He was most recently the head football coach at the University of Louisiana at Monroe, a position he held until the conclusion of the 2023 season. Bowden served as the head football coach at Salem University (1983–1985), Samford University (1987–1992), Auburn University (1993–1998), the University of North Alabama (2009–2011), and the University of Akron (2012–2018). He is a son of former Florida State University head football coach Bobby Bowden and a brother of Tommy Bowden, former head football coach at Clemson University, and Jeff Bowden, the former offensive coordinator at Florida State.
Robert Patrick Petrino is an American college football coach. He is the offensive coordinator and quarterbacks coach for the Arkansas Razorbacks. He is the former head coach for the Missouri State Bears. Previously, he served as the head coach of the Louisville Cardinals football team from 2014 until being fired during the 2018 season. He previously held the post from 2003 to 2006. From 2008 to 2011, Petrino was the head football coach at the University of Arkansas. He was dismissed from that position in the spring of 2012 for covering up an extramarital affair with an athletic department staffer. Petrino also coached the Atlanta Falcons of the National Football League (NFL) for the first 13 games of the 2007 season. He spent the 2013 season as head football coach of the Western Kentucky Hilltoppers and 2020–2022 seasons as the head coach of the Missouri State Bears. He also was the offensive coordinator for the Texas A&M Aggies football in 2023.
Seth Merrill Hammett is an American educator, politician, and economic development professional who was a member of the Alabama House of Representatives from 1979 to 2011. A member of the Democratic Party, he served as Speaker of the Alabama House of Representatives from 2001 to 2010.
The 2002 Alabama gubernatorial election was held on November 5. With 669,105 votes or 48.95%, incumbent Democrat Don Siegelman lost re-election to Republican Bob Riley, a margin of 3,120 votes or 0.22%. The close and controversial election was marked by high turnout. This was the third consecutive Alabama gubernatorial election where the incumbent was defeated. Riley was sworn in on January 20, 2003, marking what is to date the last time the Alabama Governor’s office changed partisan control.
Colonial Bank, formerly a subsidiary of Colonial BancGroup, was headquartered in Montgomery, Alabama. Colonial Bank had 346 branches in the states of Alabama, Georgia, Florida, Nevada and Texas.
Colonial BancGroup Inc. was a bank holding company headquartered in Montgomery, Alabama, United States that failed in 2009. It was a financial services company that, through its subsidiaries, provided diversified services, including retail and commercial banking, wealth management services, mortgage banking and insurance. The company was in the top 50 largest banks in the US prior to its failure and its subsidiary, Colonial Bank, operated 346 branches in the states of Alabama, Georgia, Florida, Nevada and Texas.
The Arkansas Razorbacks football program represents the University of Arkansas in the sport of American football. The Razorbacks compete in the Football Bowl Subdivision (FBS) of the National Collegiate Athletic Association (NCAA) and the Western Division of the Southeastern Conference (SEC). Home games are played at stadiums on or near the two largest campuses of the University of Arkansas System: Donald W. Reynolds Razorback Stadium in Fayetteville and War Memorial Stadium in Little Rock. Sam Pittman is the head coach and has served since 2020.
The 2003 Auburn Tigers football team represented Auburn University in the 2003 NCAA Division I-A football season. Auburn began the season with high expectations, but stumbled out of the gate before finishing the season with a disappointing 8–5 record, including a 5–3 record in the SEC, good for third place in the conference's Western Division. The Tigers, coached by Tommy Tuberville, began the season ranked #6 in both the AP Poll and the Coaches' Poll, but opened with consecutive losses to Southern California and Georgia Tech, dropping out of both polls.
John Gerard Stumpf is an American business executive and retail banker. He was the chairman and chief executive officer of Wells Fargo, one of the Big Four banks of the United States. He was named CEO in June 2007, elected to the board of directors in June 2006, and named president in August 2005. He became chairman in January 2010. Stumpf resigned as chairman and CEO of Wells Fargo on October 12, 2016, after a scandal involving customer accounts and subsequent pressure from the public and lawmakers. He was succeeded by Timothy J. Sloan.
Taylor, Bean & Whitaker was a top-10 wholesale mortgage lending firm in the United States, the fifth-largest issuer of Government National Mortgage Association securities. Their slogan was "Perfecting the Art of Mortgage Lending".
The 2008 Arkansas Razorbacks football team represented the University of Arkansas in the 2008 football season. The Razorbacks played five home games at Donald W. Reynolds Razorback Stadium in Fayetteville, Arkansas and one home game at War Memorial Stadium in Little Rock, Arkansas.[a] The Razorbacks finished the season with an overall record of 5–7 and a conference record of 2–6 in Bobby Petrino's inaugural season.
Jackson W. Moore is an American attorney and a former executive chairman of Union Planters Bank and Regions Financial Corporation.
Ellen Rose Alemany is an American business executive. She is the Vice Chairwoman of First Citizens BancShares. She was formerly the chairwoman of CIT Group.
The 2012 Southeastern Conference football season began on August 30 with South Carolina visiting Vanderbilt, and concluded with the BCS National Championship Game on January 7, 2013. It was also the first season of play for former Big 12 Conference members Texas A&M and Missouri. Texas A&M plays in the West Division, while Missouri plays in the East Division, although, geographically, Missouri is one of the conference's westernmost teams.
Paul William Bryant Jr. is an American banker, investor and philanthropist from Alabama.
The Alabama Academy of Honor recognizes one hundred living Alabamians for outstanding accomplishments and services to Alabama and the United States. By act of the Alabama Legislature, only one hundred living people may be members at any time. Up to ten additional members per year are elected by current members when honorees pass away, by majority vote in order of highest vote total. Any Alabama citizen or Academy member may nominate people for election. Living present and past governors of Alabama are automatically members of the Academy and do not count against the 100-person maximum. At any time, no more than twenty-five percent of the Academy's members may be politicians.