Company Overview Visit synovus.com website
Synovus Financial Corp. is a bank holding company headquartered in Columbus, Georgia. It is the third-largest bank based in Georgia and offers financial services to retail customers through its Synovus Bank division, as well as to businesses through its National Bank of Commerce subsidiary.
Synovus was created on November 12, 2009 when the U.S. Congress passed the "Troubled Asset Relief Program" (TARP) under President Barack Obama's administration. In April 2010, Synovus received approval from regulators to acquire eight banks from the failed Colonial BanCorp: Atlantic Southern, Medley, Doral, Baldwin, North Atlanta National, Peachtree, State Bank of Crossville, and United Western. The total value of the acquisition was $936 million, with Synovus paying approximately $42.5 million in cash for each bank.