Filed by Synovus Financial Corp.
Commission File No. 001-10312
Subject Company: Synovus Financial Corp.
On September 26, 2002, Synovus Financial Corp., a Georgia corporation,
issued the following press release.
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[LOGO]
SYNOVUS NEWS RELEASE
FINANCIAL CORP. ---------------------------------------------------------------
For Immediate Release
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Contact: Aimee Davis Patrick A. Reynolds
Synovus Synovus
706.644.0528 706.649.4973
Synovus To Acquire First Nation Bank
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Financial Services Company Strengthens Presence in Metro Atlanta.
Columbus, Ga., September 26, 2002- Synovus (NYSE - "SNV"), the Columbus, Georgia
based diverse financial services company, today announced the signing of a
letter of intent to acquire $340.7 million asset FNB Newton Bankshares, Inc.,
the parent company of First Nation Bank in Covington, Georgia. FNB has ten
branches serving Newton, Henry and Rockdale Counties. FNB further expands
Synovus' growing presence in the high-growth Metro Atlanta area.
Stephen C. Wood, President and CEO of First Nation Bank stated, "With
consolidation taking place throughout the banking industry, many community banks
are attempting to align themselves with institutions like Synovus that can
provide the broadest array of products and services. First Nation Bank and
Synovus are compatible in culture and the desire to provide top-quality service.
This transaction will enable our employees to continue to play an important role
in meeting the financial service needs of our customers in the communities we
serve."
James H. Blanchard, CEO and Chairman of the Board of Synovus stated, "We welcome
First Nation Bank into the Synovus family. The FNB team shares the same values
we hold high at Synovus. Through this acquisition, we are making our banking
organization stronger by joining with an experienced banking company which will
enable us to serve even more customers in this strong market."
First Nation Bank will continue to operate under its existing name and
management team.
Earlier this week, Synovus announced the execution of a definitive agreement to
acquire $408 million asset United Financial Holdings, Inc. in St. Petersburg,
Florida; (Nasdaq: "UFHI"), the parent company of United Bank, United Bank of the
Gulf Coast, United Trust Company and EPW Investment Management, Inc.
About Synovus
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Synovus (NYSE: "SNV"), with more than $18 billion in assets, provides integrated
financial services including banking, financial management, insurance, mortgage
and leasing services through 39 affiliate banks and other Synovus offices in
Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment
processing through an 81 percent stake in TSYS (NYSE: "TSS"), the world's
largest third-party processor of international payments. Synovus is No. 5 on
FORTUNE magazine's list of "The 100 Best Companies To Work For" in 2002. See
Synovus on the Web at www.synovus.com.
Synovus will be filing a Registration Statement on Form S-4 and other relevant
documents concerning the merger with the SEC. Such document will also serve as a
proxy statement for FNB Newton Bankshares, Inc. WE URGE INVESTORS TO READ THE
REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC
BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors will be able to obtain the
documents free of charge at the SEC's Web site, www.sec.gov. In addition,
documents filed with the SEC by Synovus will be available free of charge from
the Corporate Secretary of Synovus at Suite 301, One Arsenal Place, 901 Front
Avenue, Columbus, Georgia 31901, Telephone 706-649-4751. READ THE REGISTRATION
STATEMENT CAREFULLY BEFORE MAKING A DECISION CONCERNING THE MERGER.
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