Synovus completes Florida bank acquisition

Synovus Financial Corp. announced Wednesday that it has completed the acquisition of FCB Financial Holdings Inc., owner of Florida Community Bank, National Association. Effective Jan. 1, 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.”

FCB customers will experience no changes to their existing accounts or banking services until the second quarter, when accounts will transition to Synovus.

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.