M&A Deal Summary

Synovus Acquires Florida Community Bank

On July 24, 2018, Synovus acquired financial services company Florida Community Bank for 2.9B USD

Acquisition Highlights
  • This is Synovus’ 7th transaction in the Financial Services sector.
  • This is Synovus’ largest (disclosed) transaction.
  • This is Synovus’ 8th transaction in the United States.
  • This is Synovus’ 4th transaction in Florida.

M&A Deal Summary
Date 2018-07-24
Target Florida Community Bank
Sector Financial Services
Buyer(s) Synovus
Deal Type Add-on Acquisition
Deal Value 2.9B USD
Advisor(s) Sandler O'Neill + Partners LP
Guggenheim Securities
Evercore Group (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Florida Community Bank

Bonita Springs, Florida, United States
website
FCB Financial Holdings, Inc. is a provider of financial services to individuals, businesses and communities across the state with 50 full-service banking centers from east to west, and from Daytona Beach to Miami-Dade.

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Buyer(S) 1

Buyer

Synovus

Columbus, Georgia, United States

website

Category Company
Founded 1888
Sector Financial Services
Employees5,134
Revenue 2.2B USD (2022)
DESCRIPTION

Synovus is a financial services company with approximately $27 billion in assets based in Columbus, Georgia. Synovus’ divisions provide commercial and retail banking, investment, and mortgage services to customers through 29 locally branded divisions, 280 offices, and more than 400 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus was founded in 1888 and is based in Columbus, Georgia.

DEAL STATS #
Overall 8 of 9
Sector (Financial Services) 7 of 7
Type (Add-on Acquisition) 7 of 7
State (Florida) 4 of 4
Country (United States) 8 of 9
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-18 Entaire Global Companies

Atlanta, Georgia, United States

Entaire Global Companies, Inc. is a privately held diversified financial services holding company specializing in asset-based lending.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-21 Qualpay

San Mateo, California, United States

Qualpay is a provider of a cloud-based platform that combines a payment gateway with robust merchant processing solutions, which allows merchants and independent software vendors (ISVs) to easily integrate payments into their software or websites. Qualpay was founded in 2014 and is based in San Mateo, California.

Buy -
Mergr

Product

Company

Legal