Synovus is about to be the largest bank in Georgia!! (Atlanta: moving, title)

[Columbus1999]

This is awesome news. The merger of Suntrust and BB&T means Synovus which is based in Columbus is about to be the largest bank in Georgia. This could be a strong selling point for the city. I had no idea they were this large.

COLUMBUS, GA: A deal between an Atlanta-based bank and a North Carolina-based bank could have an impact on the ranking of a Columbus-based bank. The merger between Suntrust Bank and BB&T would make Columbus-based Synovus the largest bank in the state of Georgia.

Columbus-based Synovus has been the second largest bank based in the state of Georgia, falling only behind Suntrust Bank. Atlanta-based Suntrust announced on Thursday morning it would merging with Winston-Salem, North Carolina-based BB&T Corp. and shift the new companies headquarters to Charlotte, North Carolina.

While still carrying a presence under the new brand in Georgia, Suntrust would be assimilated into a new to be named joint bank operating with a new name for branches of BB&T and Suntrust. The move from Atlanta would then make Columbus' Synovus the largest bank in the state of Georgia.

Synovus carries more than $32 billion in assets and has move than 250 branches across numerous states including Georgia, Florida, South Carolina, and Tennessee. Last year Synovus announced it would be acquiring Weston, Florida-based FCB Financial Holdings, the owner of Florida Community Bank. The acquisition adds more than $12.4 billion in assets to Synovus and an additional 51 branches.

Synovus finds its history in growth in its ability to acquire banks. During the 1990's and early 2000's Synovus was known for acquiring smaller community banks and bringing them under its umbrella. During many of the acquisitions the names of the community banks remained and Synovus found itself operating under more than two dozen different names. In 2017, the bank consolidated all of its branches under the name of Synovus Bank, that including longtime Columbus Bank and Trust Company, the largest bank in Columbus.

The history of Synovus dates back to 1888, when Third National Bank of Columbus and Columbus Savings Bank were both incorporated by W.C. Bradley and G. Gunby Jordan. The small humble hometown bank of 1888 has grown to one of the largest regional banks in the southeast today and may become the largest Georgia-based bank later this year if the merger of Suntrust and BB&T is completed.

Columbus-Based Synovus Bank Could Be Georgia's Largest Bank

[Columbus1984]

Great for Columbus and Synovus. They continue to grow which is fantastic.

[JayHey]

So this may be good news for getting the "crown" of largest bank headquartered in Georgia, but remember that both BB&T and SunTrust have multiple branches in the area and almost certainly the merger means the closure of at least some of them and the loss of associated jobs with them.

Each bank has a large regional branch right next to each other on Broadway. One of those buildings could sit empty by next year.

[Fountain-of-youth]

Originally Posted by JayHey

So this may be good news for getting the "crown" of largest bank headquartered in Georgia, but remember that both BB&T and SunTrust have multiple branches in the area and almost certainly the merger means the closure of at least some of them and the loss of associated jobs with them.

Each bank has a large regional branch right next to each other on Broadway. One of those buildings could sit empty by next year.

I think you meant 1st ave.

[JayHey]

You know it.

[BrandonCoombes]

Well wouldn’t the new merged bank be in a Charlotte according to this, and Synovous would technically be a subsidiary HQd in Columbus? I’m just trying to understand. Haha

[amyers3]

Originally Posted by JayHey

So this may be good news for getting the "crown" of largest bank headquartered in Georgia, but remember that both BB&T and SunTrust have multiple branches in the area and almost certainly the merger means the closure of at least some of them and the loss of associated jobs with them.

Each bank has a large regional branch right next to each other on Broadway. One of those buildings could sit empty by next year.

If there is a good part in this, that building is also (or was) occupied by other businesses, they'll most likely move to SunTrust tower.

With BB&T only having a few locations in Columbus, the only one I really see being an issue is Bradley Park location where I would imagine they'll take the SunTrust location over BB&T's more hidden location. I really wish they would keep one of their names instead of coming up with an new - probably lame- name.

[Columbus1999]

Originally Posted by BrandonCoombes

Well wouldn’t the new merged bank be in a Charlotte according to this, and Synovous would technically be a subsidiary HQd in Columbus? I’m just trying to understand. Haha

Synovus is not merging its Suntrust and BB&T. Suntrust moving out of Georgia to Charlotte makes Synovus the largest bank in Georgia. It’s still independent not merged.

[SeetheUSA]

Bottom line- this will have no impact on how companies view our city. It won't draw any new employers here at all.

[Columbus1984]

Originally Posted by SeetheUSA

Bottom line- this will have no impact on how companies view our city. It won't draw any new employers here at all.

Feather in our cap to hold the title. Columbus is on a roll. Outlook is good. Downtown growth is where the focus should be. Sitting in Downtown Greenville, SC now. No reason we can’t create an atmosphere like this. Well on our way.