Three Synovus Banks in Florida Announce Plan to Consolidate; United Ba

    Business Editors

    COLUMBUS, Ga.--(BUSINESS WIRE)--March 14, 2005--Synovus (NYSE: SNV), the Columbus, Georgia-based, diversified financial services company, today announced its plan to merge three of its Florida banks. United Bank and Trust Company in St. Petersburg, United Bank of the Gulf Coast in Sarasota and Peoples Bank in Palm Harbor plan to unite under one charter and be named Synovus Bank of Tampa Bay in June 2005.
    This consolidation will bring together the expertise of three successful and seasoned bankers with a proven history of growing their markets and building loyal customer bases. David W. Dunbar, current President and CEO of Peoples Bank, will serve as Chief Executive Officer of Synovus Bank of Tampa Bay. Neil W. Savage, current Chairman and CEO of United Bank and Trust Company, will serve as the bank's Chairman of the Board, and Harold J. Winner, current President of United Bank and Trust Company, will serve as President.
    "Uniting these three Florida-based Synovus banks under one new name, Synovus Bank of Tampa Bay, creates many opportunities for our company and our customers," said Fred L. Green III, Synovus Vice Chairman over Banking Operations. "We will eliminate market overlap in a number of areas, creating greater efficiency and strengthening our overall brand presence in the Tampa Bay market. This will also allow customers of all three banks to have easier access to our expanded branch network and enjoy a broader array of products and services offered to meet their needs. The combined leadership of David, Neil and Harold will provide valuable teamwork to take Synovus Bank into the future."
    United Bank and Trust Company, United Bank of the Gulf Coast and Peoples Bank banking centers are located in Pinellas, Pasco, Sarasota and Manatee Counties. The merger is subject to regulatory approval, after which Synovus Bank of Tampa Bay will be headquartered in St. Petersburg and its combined total asset size will be approximately $1 billion.
    "Under the new name, we will continue to deliver the same superior customer service and maintain our community bank philosophy, while leveraging the strength of Synovus," said David Dunbar. "This consolidation will propel us forward as one team, with one vision...to be the finest."

    About Synovus

    Synovus (NYSE: SNV) is a diversified financial services holding company with over $25 billion in assets based in Columbus, Georgia. Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 40 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 has been named one of "The 100 Best Companies To Work For" in America by FORTUNE magazine, and has been recognized in its Hall of Fame for consecutive appearances on the list since its inception in 1998. In 2005, Synovus was also named as one of "America's Most Admired Companies". See Synovus on the Web at www.synovus.com.

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CONTACT: Synovus Media Relations Aimee E. Davis, 706-644-0528 or United Bank and Trust Company Media Relations Susan Blackburn, 727-824-8755

KEYWORD: GEORGIA FLORIDA INDUSTRY KEYWORD: BANKING MERGERS/ACQ SOURCE: Synovus

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