SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
September 1, 1998
(Earliest Event Reported)
Synovus Financial Corp.
(Exact Name of Registrant as
Specified in its Charter)
Georgia 1-10312 58-1134883
(State of (Commission File (IRS Employer
Incorporation) Number) Identification
Number)
901 Front Avenue, Suite 301, Columbus, Georgia 31901
(Address of principal executive offices)
(706) 649-2267
(Registrant's Telephone Number)
(Former name or former address, if changed since last report)
Item 5. Other Events.
On September 1, 1998, Synovus Financial Corp. ("Registrant") announced the
completion of its acquisition of the $348 million asset Community Bank Capital
Corporation, Alpharetta, Georgia.
A copy of Registrant's press release regarding the announcement
referenced above is attached hereto as Exhibit 99.1, and by this reference made
a part hereof.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements - None.
(b) Pro Forma Financial Information - None.
(c) Exhibits
99.1 - Registrant's press release dated September 1, 1998
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SYNOVUS FINANCIAL CORP.
("Registrant")
Dated: September 1, 1998 By:/s/ Kathleen Moates
Kathleen Moates
Senior Vice President
3
Exhibit Index
Exhibit Number Description
99.1 Synovus Financial Corp.'s
press release
dated September 1, 1998
4
[LOGO] NEWS RELEASE
SYNOVUS
FINANCIAL CORP.
For Immediate Release
Contact: Rob Ward Patrick A. Reynolds
Director of Media Relations Director of Investor Relations
(706) 649-2531 (706) 649-4973
Synovus Completes Acquisition
of Community Bank Capital Corporation
Columbus, Ga., September 1, 1998 - Synovus Financial Corp.(NYSE - "SNV"),
the Columbus, Georgia based multi-financial services company, today announced
its completion of the merger of the $348 million asset Community Bank Capital
Corporation "CBCC" into Synovus, for stock. CBCC is the parent company of the
Bank of North Georgia, based in Alpharetta, Georgia. This is Synovus' first
acquisition in the fast growing communities north of Atlanta. Bank of North
Georgia will continue to operate its six banking locations under its existing
name, management team and local board of directors. Synovus Financial Corp. has
also rescinded its share repurchase plan due to its effect on accounting for
acquisitions under the pooling-of-interests method.
Synovus Financial Corp. is a $10 billion asset, multi-financial services
company composed of 35 banks serving communities throughout Georgia, Alabama,
Florida, and South Carolina; an 80.7% ownership of Total System Services, Inc.
(NYSE - "TSS") (www.totalsystem.com), one of the world's largest credit, debit,
commercial, and private-label card processing companies; Synovus Trust Company;
Synovus Securities, Inc.; and Synovus Mortgage Corp. Synovus' Internet address
is www.synovus.com.
ENDIT
