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Synovus Receives Regulatory Approval for FCB Financial Holdings, Inc. Merger

Synovus Financial Corp. (NYSE: SNV) and FCB Financial Holdings, Inc.
(NYSE: FCB) today 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,a?? 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.a??


FCB, headquartered in Weston, Florida, had $12.4 billion in assets and
$10.2 billion in deposits as of Sept 30, 2018, and 51 branches in
Florida. The acquisition was announced July 24, 2018.
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