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Synovus Announces Merger of First Nation Bank and Peachtree National with Bank of North Georgia
 
 

May 23, 2007, Columbus, GA Synovus (NYSE: SNV), the Columbus, Georgia-based diversified financial services company today announced plans to merge three Synovus banks – First Nation Bank, based in Covington, Georgia, and Peachtree National Bank in Peachtree City, Georgia – with Bank of North Georgia, headquartered in Alpharetta, Georgia. Pending regulatory approval of the merger, the combined banks will be called Bank of North Georgia.

 “One of the key benefits of this consolidation is the combined expertise of successful, veteran leaders who have a proven history of growing their markets and have built a loyal customer base,” said Fred L. Green III, President and COO of Synovus. “We will be able to share talent across our Atlanta footprint and offer enhanced and more diversified products and services to better meet the needs of our customers in this dynamic, high potential market.”

Once the merger is complete, the newly expanded Bank of North Georgia will have a total asset size of $4.8 billion with 33 bank locations with a full range of products and services including mortgage, investments and private client services.  After the merger, Bank of North Georgia will serve more than 51,000 households.  

Following the consolidation, Don Howard will continue in his role as Chairman of Bank of North Georgia, Kessel Stelling will remain as President and CEO, and Randy Carroll will continue as Vice Chairman.  Steve Wood, current CEO of First Nation Bank, will serve the Covington market until his retirement at year-end. Richard Spink, current CEO of Peachtree National Bank, will remain in an executive leadership role overseeing the Peachtree City market with expanded responsibilities within Bank of North Georgia.

 “A primary benefit of the consolidation is that the three banks share the same values and corporate culture,” said Don Howard. “We will continue to maintain the same level of superior customer service that we have always offered to our customers with the ability to do even more. The consolidation will ultimately make our new organization a more successful and powerful bank in this important Synovus market.”

About Synovus

Synovus (NYSE: SNV) is a diversified financial services holding company with more than $32 billion in assets based in Columbus, GA.  Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 39 banks and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment processing through an 81-percent stake in TSYS (NYSE: TSS), one of the world’s largest companies for outsourced payment services.  FORTUNE magazine has named Synovus one of “The 100 Best Companies to Work For” in America, and has recognized Synovus in its Hall of Fame for consecutive appearances on the list since its inception in 1998.  See Synovus on the web at www.synovus.com.

 
Contact
Greg Hudgison
Company: Synovus
Title: External Communications Manager
Phone: (706) 644-0528
Email: gregoryhudgison@synovus.com