Major Columbus employer reportedly in merger talks after takeover interest
A Columbus-based banking and financial services company reportedly is in talks about a merger after drawing takeover interest.
Synovus Financial Corp. is consulting with a financial adviser and recently has discussed a merger with at least one other regional banking competitor, according to an unnamed source cited by Bloomberg reporter Matthew Monks.
Regional bank competitors include PNC Financial Services, Regions Financial and Fifth Third Bank, according to a report by the Atlanta Business Chronicle.
The Ledger-Enquirer didn’t reach a Synovus official for comment before publication.
Regional banks, such as Synovus, have been under pressure to merge due to expensive technology investments and intense competition from industry giants like JPMorgan, Wells Fargo, and Bank of America, according to a recent report by the Financial Times. Mergers help companies reduce costs, increase market share, and diversify their services and products.
Sources told Bloomberg that no final decisions have been made, and Synovus can remain independent.
Synovus employs approximately 1,235 people in the Chattahoochee Valley area, according to the Choose Columbus major employers database. Synovus is the fourth-largest bank in Georgia, and held about 27.6 billion in deposits statewide in 2024, according to the Atlanta Business Chronicle.
This story was originally published July 24, 2025 at 9:44 AM.