Synovus Completes Acquisition of Riverside Bancshares, Enhancing Presence in Atlanta Market

Synovus, a diversified financial services company based in Columbus, Georgia, has finalized its acquisition of Riverside Bancshares, Inc. and merged Riverside Bank into Bank of North Georgia. This strategic move enlarges Synovus' presence in the metropolitan Atlanta market, expanding its services and team members. Don Howard will continue to lead Bank of North Georgia as Chairman and CEO, while Kessel Stelling Jr. has been appointed President and COO of the combined entity. The acquisition has created a substantial bank with $3.6 billion in assets, 497 team members, and 19 bank locations offering a wide range of financial services.

Key Takeaways:

• Synovus has acquired Riverside Bancshares, Inc. and merged Riverside Bank into Bank of North Georgia, creating a significant entity in the Atlanta market.
• The combined bank has $3.6 billion in assets and 497 team members, with 19 bank locations offering a full range of integrated financial services.
• Don Howard will continue as Chairman and CEO of Bank of North Georgia, with Kessel Stelling Jr. serving as President and COO.
• Randy Carroll has been named Vice Chairman of Bank of North Georgia.
• The merged bank will operate under the name Bank of North Georgia.
• The acquisition has increased Synovus' presence in the Atlanta market, making it a stronger competitor in the region.
• Prior to the merger, Riverside Bank had just over $620 million in assets and nearly 90 team members serving customers through five bank locations.
• The combined total of Synovus' assets in the Atlanta metro area now stands at $5.4 billion, with 57 banking locations.

Statistics:

• $3.6 billion: The combined bank's assets following the merger.
• 497: The total number of team members serving customers through Bank of North Georgia.
• 19: The number of bank locations offering a range of financial services.
• 57: The total number of banking locations operated by Synovus in the Atlanta metro area.
• $620 million: The assets of Riverside Bank prior to the merger.
• 5: The number of bank locations previously operated by Riverside Bank.
• 90: The number of team members serving customers through Riverside Bank prior to the merger.

Sources:

• [1] "Synovus Completes Acquisition of Riverside Bancshares, Enhancing Presence in Atlanta Market." Business Wire, [ undated ].
• [2] "About Synovus." Synovus, [ undated ].