Synovus Receives Regulatory Approval for FCB Financial Holdings, Inc. Merger
Monday, December 10th, 2018
Synovus Financial Corp. and FCB Financial Holdings, Inc. jointly announced that Synovus has 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.
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.
“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.”