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Synovus Financial Corp. completes most of its charter consolidation efforts

By Péralte C. Paul
June 2, 2010

Synovus Financial Corp. said it completed the charter consolidation of all but two of its 30. The Columbus-based financial institution, which has operations Georgia, Alabama, Florida, Tennessee and South Carolina, said the remaining two charters -- one in Nashville and the other in Memphis -- will be consolidated by June 30. The bank, which operates its subsidiaries independently, said they will continue to do so and under their individual brand names. The consolidation of charters is designed to streamline regulatory issues, its legal operating structure and allow for better capital and cash flow management.

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Péralte C. Paul
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