Synovus Financial completed its acquisition of FCB Financial Holdings and its subsidiary Florida Community Bank, effective January 1, 2019, with Florida Community Bank merging with and into Synovus Bank.
Transition of FCB systems, customers, branches and branding to Synovus is expected during the second quarter of 2019.
At close, Synovus became 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.
“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 FCB president and CEO. “We’re proud to be joining this team and excited about everything we’re going to accomplish together.”