Synovus Repays $968 Million in TARP Bailout Funds to Treasury
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Synovus Financial Corp. repaid $968 million in bailout funds to the U.S. Treasury Department, extinguishing one of the biggest debts still owed by a commercial bank to the Troubled Asset Relief Program.
More than two-thirds of the sum was generated internally, with the balance from common and preferred stock offerings totaling $315 million, the Columbus, Georgia-based company said today in a statement.