Bank merger complete

Tue, 09/18/2007 - 4:05pm
By: The Citizen

Synovus, the Columbus, Georgia-based diversified financial services company announced the completion of the merger of three Synovus banks in metro Atlanta - First Nation Bank, based in Covington, Georgia and Peachtree National Bank, based in Peachtree City merged with Bank of North Georgia, headquartered in Alpharetta. The combined banks are using the Bank of North Georgia name.

“This important initiative affirms Synovus’ commitment to strategically build a stronger banking and asset management presence in Atlanta,” said Don Howard, chairman of Bank of North Georgia. “By merging these three Synovus banks, customers benefit from the combined team of experienced and professional bankers, gain greater convenience through 33 bank locations and 36 ATMs, and have greater access to the most comprehensive product and service offerings available anywhere.”

With the completion of the merger, the newly expanded Bank of North Georgia has a total asset size of $4.9 billion, making it the second largest affiliate within the Synovus family of banks in asset size. Bank of North Georgia has the largest deposit and loan balances of all Synovus bank affiliates and now serves more than 51,000 households with 810 team members. The bank’s footprint expands from 19 offices to 33 and encompasses 13 different counties in metro Atlanta.

Kessel Stelling, Bank of North Georgia’s President and CEO, said, “By bringing together the banking professionals, expertise, and resources at all three banks as one united team, we are able to leverage our talent, a common name, consistent branding and advertising. We will continue to maintain the same level of superior customer service that we have always offered to our customers with the ability to do even more.”

Don Howard continues to serve in his role as chairman of Bank of North Georgia, Kessel Stelling remains as president and CEO, and Randy Carroll continues as vice chairman. Steve Wood, president and CEO of First Nation Bank, will serve the Covington market until his retirement at year-end. Richard Spink, CEO of Peachtree National Bank, remains in an executive leadership role overseeing the Peachtree City market with expanded responsibilities within the Bank of North Georgia.

“One of the key benefits of this consolidation is the combined expertise of successful, veteran leaders who have a proven history of growing their markets and have built a loyal customer base,” said Fred L. Green III, president and COO of Synovus. “The consolidation ultimately makes our new organization a more successful and powerful bank in this important Synovus market.”

As a newly consolidated organization, Bank of North Georgia will continue to look for strategic office locations to add to their footprint in the Metro Atlanta area. In October, the bank will celebrate the grand opening of its 34th office in Sandy Springs and has plans to open additional offices in 2008 and beyond.

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