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March 30, 2015 8:31 PM ET


Company Overview of Synovus Bank

Company Overview

Synovus Bank provides banking products and services. It offers corporate banking services, such as business banking, financing, employee benefit programs, international services, and government banking; and personal banking services, which include checking, savings and money markets, loans, ATM banking, check cashing and Western Union services, and safe deposit boxes. The company also provides military banking services, such as checking, savings, treasury management, and money market accounts; and business banking services, which include loans, lines of credit, and SBA, as well as business library, merchant services, employee benefit programs, and fraud defense services. In addition, it offe...

1111 Bay Avenue

Columbus, GA 31901

United States

Founded in 1888





Key Executives for Synovus Bank

Chief Executive Officer and President
Age: 43
Chief Operations Officer
Age: 59
Vice Chairman of the Local Board of Commercial Bank and Synovus Regional Chief Executive Officer
Regional Chief Executive Officer, Chief Executive Officer of Bank of Nashville and President of Bank of Nashville
Chief Executive Officer of Commercial Bank and President of Commercial Bank
Compensation as of Fiscal Year 2014.

Synovus Bank Key Developments

Orlando Branch of Synovus Bank Names Don Gaudette as New CEO

Synovus Bank announced that Don Gaudette will take the helm of its branch on Orange Avenue. Gaudette has been in banking more than 30 years and most recently served as president of the Orlando market for Hancock Bank.

Synovus Bank Provides Update on Lawsuit

Synovus Bank announced that it 'strongly denies' allegations in lawsuits that claim the bank failed to stop irregular and suspicious banking transactions by the owners of several temporary staffing firms. The bank issued a response after a request from the Tampa Bay Business Journal, on the heels of the lawsuits, filed Oct. 31. Seven separate lawsuits - each with nearly identical language - were filed by the trustee for the bankruptcy estates of the Clearwater-based staffing firms, collectively referred to as the Able Body Labor Businesses, and owned by Frank Mongelluzzi and his wife, Anne Mongelluzzi. The suits - which are unproven allegations - describe a check-kiting scheme and an attorney representing the bankruptcy trustee said the bank knew or should have known or discovered the scheme as part of standard banking practices. The trustee is asking the court to order Synovus to pay some or all of the $21 million it received in overdraft fees, so other creditors can be repaid. In a counterclaim to the earlier lawsuit, provided to TBBJ by Synovus, the bank offers several defenses, citing both federal and Florida law.

Trustee for Bankrupt Able Body Staffing Firms Sues Synovus Bank

The trustee for the bankruptcy estates of several temporary labor staffing companies has gone to court against Synovus Bank, alleging the bank failed to stop irregular and suspicious banking transactions. That failure caused 'significant damages' to other creditors of the firms - collectively referred to as the Able Body Labor Business - and owned by Frank Mongelluzzi and his wife, Anne Mongelluzzi. Several lawsuits - each with nearly identical language - were filed on October 31, 2014 in U.S. Bankruptcy Court for the Middle District of Florida in Tampa by Christine Herendeen, the Chapter 7 bankruptcy trustee for seven companies: Able Body Gulf Coast Inc., Professional Staffing-A.B.T.S. Inc., Westward Ho LLC, Westward Ho II LLC, YJNK III Inc., YJNK XI CA LLC, and Organized Confusion LLP. Each lawsuit alleges that Frank Mongelluzzi and others issued checks drawn on accounts which lacked sufficient funds to cover them, and 'in order to provide cover for their check kiting scheme,' Mongelluzzi and others would continuously write checks drawn on the accounts of other affiliated entities and deposit them before the float period expired, so the checks would not bounce.

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