Synovus Financial has completed its previously announced acquisition of FCB Financial Holdings to create one of the largest regional lenders by deposits in the Southeast US.

With the acquisition now completed, FCB Financial Holdings owned Florida Community Bank has merged into Synovus Bank, a wholly owned subsidiary of Synovus Financial.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

However, the transition of branches, systems, customers to Synovus is expected to take place during the second quarter of this year.

FCB Financial Holdings acquisition: Details

Synovus Financial agreed to acquire FCB Financial Holdings through an all-stock transaction in July last year. At the time of the signing of the agreement, the deal was valued at $2.9bn.

As per the agreement, all FCB shareholders have received 1.055 shares of each Synovus common stock.

Synovus now has nearly $45bn in assets, $37bn in deposits and $35bn in loans. With the addition of 51 FCB offices in Florida, Synovus’ branch network also increases to 300.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Synovus chairman and CEO Kessel Stelling said: “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.

“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.”

FCB Financial Holdings former President and CEO and Florida Division CEO Kent Ellert said: “This is a great day for Synovus and the customers and communities we serve in south Florida and around the Southeast.”