Robert E. Lowder (born ca. 1944 in
Alabama
(We dare defend our rights)
, anthem = "Alabama (state song), Alabama"
, image_map = Alabama in United States.svg
, seat = Montgomery, Alabama, Montgomery
, LargestCity = Huntsville, Alabama, Huntsville
, LargestCounty = Baldwin County, Al ...
) is a former
American
American(s) may refer to:
* American, something of, from, or related to the United States of America, commonly known as the "United States" or "America"
** Americans, citizens and nationals of the United States of America
** American ancestry, pe ...
banking executive, and founder and former longtime CEO of the failed
Colonial Bank and
Colonial BancGroup, Colonial Bank's former parent company. Lowder is an
Auburn University
Auburn University (AU or Auburn) is a public land-grant research university in Auburn, Alabama. With more than 24,600 undergraduate students and a total enrollment of more than 30,000 with 1,330 faculty members, Auburn is the second largest uni ...
alumnus, graduating with a B.S. in Finance in 1964. He is also a former long-serving trustee of Auburn. The Lowder Business Building on Auburn's campus is sometimes thought to be named after him, but according to the AU website, the building is named for his parents, Edward L. and Catherine K. Lowder.
Banking career
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. 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
BB&T Corporation (previously known as the Branch Banking and Trust Company) was one of the largest banking and financial services firms in the United States, based in Winston-Salem, North Carolina. In 2019, BB&T announced its intentions to merge ...
.
Auburn University Board of Trustees
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
William Van Muse (born April 7, 1939) was the President of the University of Akron from 1984 to 1992, of Auburn University from 1992 to 2001, and Chancellor of East Carolina University from 2001 to 2003.
Biography
William Muse was born in Missis ...
, 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.
Lowder has long been regarded as one of the nation's most powerful college boosters and power-behind-the-scenes trustees at Auburn. In 2003, when then-University President
William F. Walker William F. Walker (December 1, 1937 – August 7, 2007) was the President of Auburn University from 2001 to 2004.
Biography
William F. Walker was born on December 1, 1937, in Sherman, Texas. He graduated with a B.A. and an M.A. in aerospace engin ...
and athletic director David Housel secretly spoke with University of Louisville football coach
Bobby Petrino
Robert Patrick Petrino (born March 10, 1961) is an American football coach. He currently serves as the Offensive Coordinator for the Texas A&M Aggies. He is the former head coach for the Missouri State Bears. Previously, he served as the head coa ...
about taking over
Auburn University
Auburn University (AU or Auburn) is a public land-grant research university in Auburn, Alabama. With more than 24,600 undergraduate students and a total enrollment of more than 30,000 with 1,330 faculty members, Auburn is the second largest uni ...
football coach
Tommy Tuberville
Thomas Hawley Tuberville ( ; born September 18, 1954) is an American retired college football coach and politician serving as the junior United States senator from Alabama since 2021. Before entering politics, Tuberville was the head football co ...
's job, it was Lowder's private jet which they flew to Louisville.
In the Spring of 2011, Alabama Governor
Robert J. Bentley
Robert Julian Bentley (born February 3, 1943) is an American former politician and physician who served as the 53rd governor of Alabama from 2011 until 2017 upon his resignation after a sex scandal involving a political aide and subsequent a ...
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. 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. 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.
References
{{DEFAULTSORT:Lowder, Bobby
1940s births
Living people
Auburn University alumni
American bankers
American chief executives of financial services companies
Businesspeople from Alabama
Philanthropists from Alabama