Choose a year:   2015   |   2014   |   2013   |   2012   |   2011   |   2010   |   2009

Alpharetta, GA – Bank of North Georgia, an affiliate of Columbus, Georgia-based Synovus, announced today that it has assumed from the Federal Deposit Insurance Corporation (FDIC) approximately $55.6 million in total deposits, including all uninsured deposits, of American Southern Bank in Kennesaw, Georgia.

"We appreciate the FDIC selecting our Atlanta affiliate, Bank of North Georgia, to serve the customers of American Southern Bank," said Richard Anthony, Synovus Chairman and CEO.  "We are confident in Bank of North Georgia's ability to meet the needs of American Southern's customers, and offer them an easy transition into a solid banking organization that is backed by Synovus' strong capital position."  

The one office of American Southern Bank will reopen on Monday, April 27, 2009 as a branch of Bank of North Georgia. Depositors of American Southern Bank will automatically become depositors of Bank of North Georgia. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of both banks should continue to use their existing branches until Bank of North Georgia can fully integrate the deposit records of American Southern Bank.

Over the weekend, depositors of American Southern Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

“Bank of North Georgia’s team has a long history of serving customers throughout Cobb County and Metro Atlanta. Although it is disappointing to see a bank in our region fail, we appreciate the opportunity to work with and support the FDIC by assuming both the insured and uninsured deposits of American Southern Bank,” said Kessel Stelling, President and CEO of Bank of North Georgia. “A dedicated team of Bank of North Georgia and FDIC professionals will be working throughout this weekend to prepare the branch to open as ‘business as usual’ on Monday morning. This team will be ready to greet each customer and alleviate any questions or concerns that may arise. We look forward to welcoming American Southern Bank’s customers to Bank of North Georgia and Synovus.”

Bank of North Georgia, headquartered in Alpharetta, Georgia, has assets of $5.8 billion and has 46 offices conveniently located in 17 counties throughout metro Atlanta (five offices in Cobb County). The bank is ranked 5th in deposit market share in Atlanta.

About Bank of North Georgia

Bank of North Georgia, Member FDIC and headquartered in Alpharetta, Georgia, provides business and retail products to small business and other customers, as well as private banking and mortgage services. It was chartered in 1994 and became part of Columbus, Georgia-based Synovus in 1998. Bank of North Georgia has assets of $5.8 billion and is the largest in asset size of the 30 banks in the Synovus family of companies. They have 46 full service offices conveniently located in Alpharetta (2), Atlanta (3), Bremen, Bowden, Buford, Canton, Carrollton (4), Conyers (3), Covington (3), Cumming, Douglasville (3), Dunwoody, Fayetteville, Hiram, Jasper, Johns Creek, Kennesaw, Marietta (4), McDonough, Norcross, Peachtree City, Riverdale, Roswell, Stockbridge, Suwanee, Tallapoosa, Temple, Tucker, Tyrone, Villa Rica and Woodstock. Visit Bank of North Georgia on the web at

About Synovus

Synovus (NYSE: "SNV") is a financial services holding company with approximately $35 billion in assets based in Columbus, Georgia.  Synovus provides commercial and retail banking, as well as investment services, to customers through 30 banks, 440 ATMs, and more than 330 Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee.  The company focuses on its unique decentralized customer delivery model, position in high-growth Southeastern markets and commitment to being a great place to work to ensure the delivery of unparalleled customer experiences.  See Synovus on the web at

About the Federal Deposit Insurance Corporation

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,305 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at, by subscription electronically (go to and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200).

Greg Hudgison
Company: Synovus
Title: External Communications Manager
Phone: (706) 644-0528
Lauren Muzzy
Company: Bank of North Georgia
Title: Communications Manager
Phone: (770) 751-4779