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Synovus to complete merger with FCB Financial Holdings.

COLUMBUS, Ga.: Synovus received regulatory approval from the Federal Reserve Board and the Georgia Department of Banking and Finance to complete the merger with FCB Financial Holdings, Inc., owner of Florida Community Bank, National Association.

It was announced by Synovus Financial Corp. and FCB Financial Holdings, Inc. The merger of FCB into Synovus is expected to be completed on or about January 1, 2019, subject to the satisfaction of customary closing conditions. Transition of FCB systems, customers, branches, and branding to Synovus is expected during the second quarter of 2019.

FCB, headquartered in Weston, Florida, had $12.4 billion in assets and $10.2 billion in deposits as of Sept 30, 2018, and 51 branches in Florida. The acquisition was announced July 24, 2018. "Regulatory approval is the final significant milestone in the merger of FCB and Synovus, and I am proud of the way our respective teams have worked together since the announcement of this transaction," said Kessel Stelling, Synovus chairman and CEO. "I am confident our combined companies will continue to meet our commitments to customers, communities, and shareholders while also achieving the growth and financial objectives of the FCB acquisition."

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Dec 13, 2018
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