In Brief: Synovus in Its Second Acquisition Deal of '98

Georgia Bank and Trust for an undisclosed amount of stock. The agreement to Georgia Bank and Trust, a $161 million-asset-bank in Calhoun, Ga., is Synovus' second acquisition deal this year. Synovus last week announced its intent to acquire Bank of North Georgia in Alpharetta. Georgia Bank and Trust, which operates three full-service banking offices north of Atlanta, would keeps its name, management team, and board of directors, Synovus said. The acquisition is expected to be completed in the third quarter. "This is a wonderful opportunity for us to welcome new team members, customers, and shareholders into the Synovus family," said James H. Blanchard, chairman of Synovus, said in a statement. "Georgia Bank and Trust is a vital and growing banking company and operates in a very attractive market. " Synovus Financial, which has $9.4 billion of assets, operates 34 banks in Georgia, Alabama, Florida, and South Carolina.