Hints and tips:
...Two deals in 2018 that included meaty premiums — Fifth Third/MB and Synovus/Florida Community — resulted in the shares of both buyers taking an immediate beating....
...Synovus Financial, a Georgia-based bank with $32bn in assets and branches in four neighbouring states, has been hit worse than most....
...Two significant regional bank mergers announced in 2018, Synovus/FCB and Cadence/State Bank, have already been cleared and closed. This transaction is far bigger....
...over somewhat smaller banks such as Regions, Synovus, KeyCorp or Comerica....
...Synovus-FCB: not all small bank mergers are created equal Talk to most industry insiders and they will tell you that smaller US banks have good reason to do deals and consolidate....
...Four community banks across the southern US announced consolidation plans on Tuesday — and shares in three of them fell sharply at the New York open....
...Even so, he expects his bank to be “back in the M&A business” next year....
...Four banks — SunTrust, Regions, Fifth Third and Synovus — fund almost 90 per cent of loans. On recent earnings calls Synovus was muted about prospects for growth....
...A 10th of Synovus’s market value has been wiped out since it announced the takeover, while FCB shares are down 14 per cent....
...The land and construction costs will be funded by equity from River’s Rock and a debt facility from Synovus Bank....
...Analyst Craig Siegenthaler recommended buying Fifth Third, Zions and Synovus Financia l. But Zions and Synovus both fell, down 1.2 per cent to $15.99 and 2.2 per cent to $1.31 respectively....
...Synovus , which has branches across the southern states, rose 10.7 per cent to $1.45. Bank of America rose 7 per cent to $7.48 after a reshuffle of senior management at the much scrutinised bank....
...When cyberthieves hit, banks make their own position clear, leading to “some pretty tense discussions”, says Kevin Gibson at Synovus Bank of Columbus, Georgia, which has about $30bn in assets....
...bank charter....
...Mr Miller says the bank is vulnerable because of “elevated losses in its loan portfolio, which is mostly real estate”. Synovus declined to comment....
...The two are part of a group of banks undergoing “stress tests” by the Federal Reserve to determine whether they are healthy enough to repay Tarp. Regions, SunTrust and Synovus declined to comment....
...Other banks that have sold back-office operations in recent years include Fifth Third Bank, Marshall & Ilsley and Synovus....
...Carolina First Bank, Citizens Republic Bancorp, Huntington Bancshares, Synovus and Whitney Holding were cut to “junk” status after S&P warned of the effects of a transition period on balance sheets as institutions...
...As Bloomberg reports on Thursday, S&P cut five of the US banks to junk states: Carolina First Bank, Citizens Republic Bancorp, Huntington Bancshares, Synovus and Whitney Holding, warning of the effects of...
...Other banks aggressively cutting back on interest rates for depositors include National City, based in Ohio, and Georgia-based Synovus Financial....
...Living a healthy life is crucial to having a satisfying life and is more important than money in the bank....
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