Synovus Announces Plan to Charter Bank in Jacksonville, Florida; William Hammel, Damon Olinto and Jerry Dean Named Key Executives

Business Wire,  Nov 6, 2003  

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COLUMBUS, Ga.--(BUSINESS WIRE)--Nov. 6, 2003

Synovus (NYSE: SNV) today announced its plans to charter a new bank in the Jacksonville, Florida market. This will be the first de novo community bank Synovus has launched.

"We've been attracted to the Jacksonville area for many years and have been searching for the right opportunity to enter this strong market," said Richard E. Anthony, Synovus President and COO. "As a fast growing city, Jacksonville is a perfect fit for us. Our new Jacksonville bank will position us well in a progressive growth market and allow us to draw on our unique ability to leverage the strength of local talent making decisions that best meet the needs of customers in their market."

The bank, to be named Synovus Bank of Jacksonville, will be the first Synovus-branded bank in the Synovus network of affiliate banks. The bank will offer a full range of integrated financial services, including banking, trust, brokerage, mortgage and insurance, and will initially focus on serving small business customers in addition to retail customers. The main office of Synovus Bank of Jacksonville will be located in the J. Turner Butler Corridor area of Jacksonville. Branch locations will be added as necessary and appropriate. Synovus Bank of Jacksonville will serve Duval and also reach into Clay and St. Johns counties in northeast Florida.

Synovus also announced the naming of three key executives to launch and manage the new bank. William J. "Bill" Hammel has been selected to oversee bank operations as President and CEO. Damon B. Olinto will serve as the bank's Executive Vice President and Senior Lender and Jerry L. Dean will serve as Senior Vice President of Branch Administration, Operations and Compliance.

Prior to Hammel's position at Synovus Bank in Jacksonville, he served as Vice President and Member of the Executive Committee at Coastal Construction Products, Inc., in Jacksonville. He began his career in 1969 as Assistant Vice President of United National Bank in Canton, Ohio. In 1981, Hammel served as Vice President and Corporate Banking Division Team Leader at BancOhio National Bank in Canton and then became Senior Vice President of Florida National Bank in Jacksonville, Florida. Six years later, he served as Senior Vice President and Senior Lending Officer of Compass Bank in Jacksonville. Hammel is a volunteer for the Jacksonville Chamber of Commerce, United Way and the Building and Fund Raising Committees for Holy Family Church. Hammel attended Xavier University in Canton, Ohio and graduated with a B.A. degree in History from Walsh University in North Canton, Ohio.

Prior to Damon Olinto serving as Synovus Bank's Executive Vice President and Senior Lender, he helped lead the CNB National Bank team in Jacksonville as Senior Vice President. He began his career at Florida National Bank as a Banking Officer for Private Banking and Business Banking. Olinto also served as a Commercial Real Estate Lender. In 1990, he served as Vice President of Compass Bank in Jacksonville. Olinto is Co-Chairman of Finance and President-Elect on the Board of Governors of the San Jose Country Club; a Guardian of Dreams founding Board Member; and a Northeast Florida Builders Association Board Member. Olinto received his B.B.A. in Banking and Finance from the University of North Florida.

Prior to Jerry Dean serving as Senior Vice President of Branch Administration, Operations and Compliance, he served as the Senior Vice President and Senior Lending Officer for First Alliance Bank of Jacksonville. Dean also served as Senior Vice President of Branch Administration and Retail Lending for eighteen Branches within Florida National Bank of Jacksonville. He was promoted to this position after having served as President of Florida National Bank of Fernandina Beach, Florida. Dean spent 16 years at BancOhio National Bank in various capacities, including President of the affiliate in Bellefontaine, Ohio and Senior Vice President and Senior Lender for the bank in Springfield, Ohio.

Commenting on the announcement, Hammel stated, "We are proud to be a part of the Synovus family and excited about this unique opportunity to create a new bank using the Synovus brand. The Synovus decentralized affiliate structure is a very successful and proven business model, and we think Synovus Bank of Jacksonville will fit perfectly into this framework. We look forward to serving Jacksonville with our first class products and services."

Subject to approval by federal and state banking regulators, the bank is anticipated to open in the spring of 2004.

Synovus (NYSE: SNV) is a diversified financial services holding company with more than $21 billion in assets based in Columbus, Ga. Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 40 affiliate 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 is No. 9 on FORTUNE magazine's list of "The 100 Best Companies To Work For" in 2003. See Synovus on the Web at www.synovus.com.

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