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|Synovus Completes Merger of Bank of Pensacola and
Vanguard Bank and Trust to Create Coastal Bank and Trust of Florida
|Columbus, GA, December 15, 2008 – Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, announces the completion of the consolidation of two of its Florida-based banks – Bank of Pensacola and Vanguard Bank and Trust in Valparaiso. The combined banks are now called Coastal Bank and Trust of Florida, and will be headquartered in Pensacola.
Coastal Bank and Trust of Florida has a total asset size of approximately $1.8 billion with 27 locations and 320 team members. The bank serves 32,000 households, with a full range of products and services.
Luther Taylor will serve as Chairman of the Board of the new bank. Thomas “Bo” Carter, former President and CEO of the Bank of Pensacola, transitions into the role of President and CEO of Coastal Bank and Trust of Florida. Martha Miller will continue to serve as Market Leader in Valparaiso.
Synovus (NYSE: “SNV”) is a financial services holding company with more than $34 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 31 banks, 440 ATMs, and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee. The company focuses on its unique decentralized customer delivery model, position in high-growth Southeast markets and commitment to being a great place to work to ensure the delivery of unparalleled customer experiences. See Synovus on the web at www.synovus.com.