sentences:  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, and on August 14, 2009, Colonial Bank was shut down by banking regulators, with its deposits and branches purchased by BB&T.Lowder began serving on the Auburn University Board of Trustees in 1983.