Simpson Thacher is representing Synovus Financial Corp. (NYSE: SNV) in connection with its announced agreement to acquire FCB Financial Holdings, Inc. (NYSE: FCB), owner of Florida Community Bank (FCB), Florida’s largest community bank. Following the closing, FCB will merge with Synovus Bank and operate under the Synovus brand. The transaction is valued at $58.15 per FCB share or $2.9 billion in aggregate and is expected to close by the first quarter of 2019.
Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with more than $31 billion in assets. Synovus provides commercial and retail banking, investment and mortgage services through 250 branches in Georgia, Alabama, South Carolina, Florida and Tennessee.
The Simpson Thacher team includes Lee Meyerson, Elizabeth Cooper, Johanna Mayer and Haley Garrett (M&A); Keith Noreika, Adam Cohen and Spencer Sloan (Bank Regulatory); David Rubinsky and Jason Fixelle (Executive Compensation and Employee Benefits); and Jon Goldstein and Christopher Murray (Tax).