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|Synovus Announces Merger of Security Bank and Trust of Albany
with Sumter Bank and Trust Company
|Combined bank will be named SB&T|
|December 22, 2008, Columbus, GA – Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, today announced plans to merge two of its Georgia-based banks – Security Bank and Trust in Albany and Sumter Bank and Trust Company in Americus. Synovus expects to complete the merger near the end of the first quarter of next year, pending regulatory approval. The combined banks will be called SB&T Bank.
Mark L. Lane, currently President and CEO of Security Bank, will serve as President and CEO of SB&T. Randolph B. “Randy” Jones, President and CEO of Sumter Bank and Trust, will serve as Market President for the Americus market of SB&T.
“Mark and Randy are recognized as leaders in each of their markets and this combination of talent, expertise, and products will enhance our ability to serve customers and maximize the growth in this region of Georgia,” said Fred L. Green III, President and COO of Synovus. “Through this merger, we will have an even stronger bank and our customers will continue to enjoy the benefits of community banking with exceptional customer service and local credit decisions.”
Once the merger is complete, SB&T will have a total asset size of $649 million with seven locations, nine ATMs and a full range of products and services.
Synovus 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.