REVOLVING CREDIT NOTE

Exhibit 10.2

REVOLVING CREDIT NOTE

     FOR VALUE RECEIVED, on the Maturity Date (defined below), the undersigned, SUPERIOR BANCORP, a Delaware corporation (“Borrower”), hereby promises to pay to the order of COLONIAL BANK (“Lender”), the principal sum of Ten Million Dollars ($10,000,000.00), or such lesser sum as may then constitute the aggregate unpaid principal amount of all loan advances (“ Advances ”) made by Lender to Borrower hereunder and pursuant to the Loan Agreement (defined below). The aggregate principal amount of Advances which Lender shall be committed to have outstanding under this Revolving Credit Note (this “Note”) at any one time shall not exceed Ten Million Dollars ($10,000,000.00), which amount may be borrowed, paid, reborrowed and repaid, in whole or in part, subject to the terms and conditions of this Note and of the Loan Agreement.

     Borrower further promises to pay to the order of Lender interest on the unpaid principal balance from time to time outstanding under this Note at the rate(s) as set forth the below and to pay all fees and expenses as required by the Loan Agreement.

     Interest on each Advance and the principal balance hereof shall accrue at the Colonial Bank Base Rate. Colonial Bank Base Rate shall mean the interest rate announced from time to time by Lender as the “Colonial Bank Base Rate”. The Colonial Bank Base Rate is a reference rate established by Lender for use in computing and adjusting interest. It is subject to increase, decrease or change, and is only one of the reference rates or indices that the Lender uses. The Lender may lend to others at rates of interest at, or greater or less than the Colonial Bank Base Rate or the rate provided herein. The Colonial Bank Base Rate may change as often as daily. Any change in the interest rate resulting from a change in the Colonial Bank Base Rate shall take effect upon the change in the Colonial Bank Base Rate.

     Interest from the date of any Advance on the outstanding unpaid principal balance shall be computed on the basis of a 360 day year by multiplying the product of the principal amount outstanding and the applicable rate by the actual amount of days elapsed and dividing by 360. No Advance may extend beyond the Maturity Date and all outstanding Advances, including principal, interest, and fees related thereto, must be paid in full on the Maturity Date. Each Advance shall be in a minimum principal amount of $100,000.

     Interest on each Advance shall be payable quarterly in arrears on each March 31, June 30, September 30 and December 31, and on the Maturity Date, or earlier if maturity is accelerated pursuant to the terms of this Note or the Loan Agreement. If Borrower fails to make any payment of any principal of or interest on any Advance within ten (10) days after the same becomes due, whether by reason of maturity, acceleration or otherwise, in addition to al