Synovus Financial Corp. said Tuesday that it has a definitive agreement to buy Merit Holding Corp. of Tucker, Ga., for about $115 million in stock.

Synovus, which announced the deal in March, said it would exchange 1.0537 to 1.4312 share of its stock for each share of Merit stock.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.