Miller from FBR Capital said that consolidation of the bank charters from 30 to 1 is viewed as a big positive. Is this a prelude to a takeover?
HERE"S A LITTLE TIDBIT CHECK TOTAL SYSTEMS TSS SYNOVUS HOLDS 24 M. SHRS. OF TSS
SNV spun off TSS in Dec 2007 to its (SNV's) shareholders. SNV does not own any TSS now.
DUMB IDEA.Will the banks lose their local flavor?Sea Island Bank is a great name and I hate to see it disappear.CB&T, NA is stupid.
Right now they have several charters under Bank of North Georgia. I would think that instead of CB&T they might just call it Synovus. I would say that was on par with Wachovia.
Personally, I don't think so, but can't deny it would simplify if a take over was planned. My thinking is this simply reduces the number of fed requirements and in bank problems with the multiple charters.