Synovus Completes Acquisition of FCB Financial Holdings, Inc.
January 02 2019 - 6:30AM
Business Wire
Systems and customer transition expected during
second quarter of 2019
Synovus Financial Corp. (NYSE: SNV) announced today that it has
completed the acquisition of FCB Financial Holdings, Inc. (NYSE:
FCB), owner of Florida Community Bank, National Association.
Effective January 1, 2019, Florida Community Bank merged into
Synovus Bank. Transition of FCB systems, customers, branches, and
branding to Synovus is expected during the second quarter of
2019.
With the merger of FCB, Synovus is a top five regional bank by
deposits in the Southeast, with approximately $45 billion in
assets, $37 billion in deposits, $35 billion in loans, and 300
branches in Georgia, Alabama, South Carolina, Tennessee, and
Florida — including 51 former FCB branches in many of Florida’s
highest-growth markets.
“Synovus has long been known for combining the personal service
of a community bank with the financial resources and market
capabilities of a large regional bank,” said Kessel Stelling,
Synovus chairman and CEO. “The addition of FCB, with its
complementary culture, capabilities, and commitment to service,
significantly increases the value-creation potential we offer
customers, communities, and shareholders. We are happy to welcome
FCB customers and team members to Synovus and are excited to begin
working together as a single company.”
“This is a great day for Synovus and the customers and
communities we serve in south Florida and around the Southeast,”
said Kent Ellert, Florida Division CEO and former President and CEO
of FCB Financial Holdings. “We’re proud to be joining this team and
excited about everything we’re going to accomplish together.”
FCB customers will experience no changes to their existing
accounts or banking services until the second quarter, when
accounts will transition to Synovus. Additional customer
information about the transition is available at
https://www.synovus.com/welcomefcb.
FCB, headquartered in Weston, Florida, had $12.4 billion in
assets and $10.2 billion in deposits as of Sept 30, 2018, and 51
branches in Florida. The acquisition was announced July 24,
2018.
Synovus Financial Corp. is a financial services company
based in Columbus, Georgia, with approximately $32 billion in
assets. Synovus provides commercial and retail banking, investment,
and mortgage services through 249 branches in Georgia, Alabama,
South Carolina, Florida, and Tennessee. Synovus Bank, a wholly
owned subsidiary of Synovus, was named one of American Banker’s
“Best Banks to Work For” in 2018 and has been recognized as one of
the country’s 10 “Most Reputable Banks” by American Banker and the
Reputation Institute for four consecutive years. Synovus is on the
web at synovus.com, and on Twitter, Facebook, LinkedIn, and
Instagram.
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Media ContactLee Underwood,
706.644.0528
Investor ContactSteve Adams,
706.641.6462
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