Synovus Receives Regulatory Approval to Complete Cabela’s Transaction
September 07 2017 - 6:30AM
Business Wire
On September 6, 2017, Synovus Bank, a wholly-owned subsidiary of
Synovus Financial Corp. (NYSE: SNV), received regulatory approval
from the Board of Governors of the Federal Reserve System to
acquire certain assets and assume certain liabilities of World’s
Foremost Bank (“WFB”), a wholly-owned subsidiary of Cabela’s
Incorporated (NYSE: CAB), pursuant to the previously announced
Framework Agreement, dated April 17, 2017, by and among Synovus
Bank, Cabela’s Incorporated, WFB, Capital One Bank (USA), National
Association, and Capital One, National Association.
Synovus Financial Corp. is a financial services company
based in Columbus, Georgia, with approximately $31 billion in
assets. Synovus provides commercial and retail banking, investment,
and mortgage services through 248 branches in Georgia, Alabama,
South Carolina, Florida, and Tennessee. Synovus Bank, a wholly
owned subsidiary of Synovus, was recognized as the "Most Reputable
Bank" by American Banker and the Reputation Institute in 2017, and
was named "Best Regional Bank, Southeast" by MONEY Magazine for
2016-17. Synovus is on the web at synovus.com, on Twitter @synovus,
and on LinkedIn at http://linkedin.com/company/synovus.
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