Bank of North Georgia Assumes Deposits of American Southern Bank in Kennesaw, Georgia

(BUSINESS WIRE)--Bank of North Georgia, an affiliate of Columbus, Georgia-based Synovus, announced yesterday that it has assumed from the Federal Deposit Insurance Corporation (FDIC) approximately $55.6 million in total deposits, including all uninsured deposits, of American Southern Bank in Kennesaw, Georgia.

“We appreciate the FDIC selecting our Atlanta affiliate, Bank of North Georgia, to serve the customers of American Southern Bank,” said Richard Anthony, Synovus Chairman and CEO. “We are confident in Bank of North Georgia's ability to meet the needs of American Southern's customers, and offer them an easy transition into a solid banking organization that is backed by Synovus' strong capital position.”

The one office of American Southern Bank will reopen on Monday, April 27, 2009 as a branch of Bank of North Georgia. Depositors of American Southern Bank will automatically become depositors of Bank of North Georgia. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of both banks should continue to use their existing branches until Bank of North Georgia can fully integrate the deposit records of American Southern Bank.

Over the weekend, depositors of American Southern Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

“Bank of North Georgia’s team has a long history of serving customers throughout Cobb County and Metro Atlanta. Although it is disappointing to see a bank in our region fail, we appreciate the opportunity to work with and support the FDIC by assuming both the insured and uninsured deposits of American Southern Bank,” said Kessel Stelling, President and CEO of Bank of North Georgia. “A dedicated team of Bank of North Georgia and FDIC professionals will be working throughout this weekend to prepare the branch to open as ‘business as usual’ on Monday morning. This team will be ready to greet each customer and alleviate any questions or concerns that may arise. We look forward to welcoming American Southern Bank’s customers to Bank of North Georgia and Synovus.”

Bank of North Georgia, headquartered in Alpharetta, Georgia, has assets of $5.8 billion and has 46 offices conveniently located in 17 counties throughout metro Atlanta (five offices in Cobb County). The bank is ranked 5th in deposit market share in Atlanta.

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Synovus Selected to Participate in U.S. Treasury Capital Purchase Program

(BUSINESS WIRE)--Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company announced today it has received preliminary approval from the U.S. Treasury for the sale of approximately $973 million in preferred stock and related warrants to Treasury under the Capital Purchase Program. The final approval is subject to satisfaction of certain conditions, including approval by Synovus’ shareholders of amendments to the company’s articles of incorporation and bylaws to allow Synovus to issue preferred stock, as well as the execution of definitive agreements.

The Capital Purchase Program, part of the U.S. Treasury Troubled Asset Relief Program (TARP), is designed to encourage U.S. financial institutions to build capital and increase the flow of financing to U.S. businesses and consumers. Treasury has set aside $250 billion dollars to invest in the country’s strongest financial institutions.

Synovus expects to use the proceeds from the Capital Purchase Program to further strengthen the company’s capital base, enhance lending capabilities and position Synovus banks to capitalize on competitive growth opportunities in local markets.

“Through participation in this program, we have the opportunity to gain valuable capital to invest in continued growth and economic recovery in each of the communities we serve,” said Richard Anthony, Chairman and CEO of Synovus. “We are especially focused on opportunities to carefully expand our lending efforts to consumers and businesses as we all work through these challenging economic times.”

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Synovus Invests in FDIC Liquidity Guarantee Program

(BUSINESS WIRE)--Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, will participate in the Federal Deposit Insurance Corporation’s (FDIC) Temporary Liquidity Guarantee Program beyond the initial 30-day program offered by all banks in conjunction with the FDIC. This FDIC program allows Synovus to offer 100% deposit protection for non-interest bearing deposit transaction accounts regardless of dollar amount at FDIC-insured institutions. Non-interest bearing deposit transaction accounts are usually payment-processing accounts, such as payroll accounts used by businesses, which frequently exceed the current maximum limit of $250,000. The Liquidity Guarantee Program can be voluntarily offered by banks to customers through the end of 2009. There is no cost to customers to receive the additional FDIC insurance.

“The benefit for our customers is that there is no limit on FDIC insurance coverage for their deposits in these types of accounts at any Synovus bank,” said Richard Anthony, Chairman and CEO of Synovus. “We understand the desire customers have during this difficult economic climate to be guaranteed they will always have access to their money.”

Additionally, Synovus’ Shared CD and Money Market accounts offer customers the unique opportunity to access up to $8 million in FDIC insurance by spreading deposits across its 32 separately-chartered banks.

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Synovus Announces Leadership Changes

BUSINESS WIRE --Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, has appointed Mark G. Holladay to the newly created position of Chief Risk Officer of Synovus. Kevin J. Howard will replace Holladay as Chief Credit Officer. Roy Dallis “D” Copeland, Jr., was named to the new position of Chief Commercial Officer. All appointments are effective immediately.

“Establishing the Chief Risk Officer position is a significant step in ensuring we maintain high, stringent standards for managing enterprise risk,” said Richard E. Anthony, Chairman and CEO of Synovus. “Mark’s experience in lending and credit risk management makes him the clear choice to fill this role. We are also pleased to have Kevin Howard move into the Chief Credit Officer position. He has demonstrated his skill in this area and is ready to take on his new responsibilities.”

Reporting directly to Richard Anthony, Holladay’s new responsibilities include overseeing the Enterprise Risk and Credit Risk Management areas of the company.

Holladay was promoted to the position of Executive Vice President and Chief Credit Officer of Synovus in 2000. He was appointed Executive Vice President of Banking/Client Delivery in 1994 and previously served as Senior Vice President of Commercial Lending. Holladay began his career with Synovus in 1974 with Columbus Bank and Trust Company (CB&T). Holladay is a graduate of Columbus State University with a Bachelor of Science Degree in Biology. He has also completed the School of Banking and Master of Banking School programs at Louisiana State University.

In his new role, Howard will report to Synovus President and COO Fred L. Green III. Among his responsibilities, he will manage the credit and loan administration standards set for Synovus banks.

Howard was named Senior Vice President and Credit Manager of Synovus in 2004. In 2000, he was promoted to the position of Senior Vice President of commercial real estate, correspondent and affiliate lending. He joined CB&T as a Vice President in 1993, after five years in commercial banking. Howard is a graduate of the University of Alabama with a Bachelor of Science Degree in Finance, and he completed the Commercial Lending Graduate School of the University of Oklahoma.

Synovus is also strengthening its commercial banking strategy through the appointment of D Copeland as the new Chief Commercial Officer. Copeland will be responsible for leading efforts to expand relationships with middle market businesses throughout the southeast.

“As a seasoned banker, and through his most recent success as CEO of one of our community banks, D will infuse a new level of energy into our commercial banking strategy,” said Anthony. “C&I is an important line of business for diversifying Synovus’ commercial credit portfolio and for generating new revenue.”

Copeland most recently served as the President and CEO of Citizens First Bank in Rome, Georgia. He has led various banking departments from Retail and Commercial Banking to Senior Manager of the Financial Services Group at CB&T. Copeland began his career with CB&T in 1992. He is a graduate of the Georgia Institute of Technology with a Bachelor of Science Degree in Management.

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Synovus Plans to Combine National Bank of Walton County with AFB&T

BUSINESS WIRE--Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, today announced plans to combine the assets of two Synovus banks: National Bank of Walton County (NBWC), based in Monroe, Georgia with Athens First Bank and Trust (AFB&T), headquartered in Athens, Georgia. Synovus expects to complete the transfer of assets later this year, pending regulatory approval. The combined assets will be managed under the name of AFB&T.

“Since these two banks operate in the same geographic area, sometimes overlapping in their service to customers, it is a natural fit to combine their resources under one name,” said Fred L. Green III, President and COO of Synovus. “Bringing together the teams at each bank will leverage Synovus’ presence in this market and offer customers increased access to bank offices and continued use of the diversified products and services they enjoy today.”

J. William “Bill” Douglas will continue in his role as President and CEO of the expanded AFB&T. Benjamin E. “Ben” Garrett, current President and CEO of NBWC, will transition into an executive leadership role with AFB&T. Once the transfer of assets is complete, AFB&T will have a total asset size of $1.6 billion with 19 locations and 323 team members with a full range of products and services.

“Customers of NBWC will now be doing business with AFB&T but will still enjoy the same local relationships with the expert bankers they know and trust, plus access to more locations, capital and products,” Garrett said.