by Mike Sharkey
Staff Writer
Synovus Bank of Jacksonville may have just opened its first branch in the city, but the 2-year-old bank has big plans.
Based in Columbus, Ga. and a subsidiary of Synovus Financial Corporation, Synovus Bank first came to Jacksonville in May of 2004 when it opened an office in Southpoint. Since then, its assets have grown to $165 million. Wednesday morning, the bank opened its first branch in San Marco in the former location of Locals, the San Marco watering hole that moved to Kings Avenue several months ago.
“We wanted to make a commitment to the Downtown area,” said Synovus Chairman and CEO Bill Hammel. “We felt like we wanted to be a part of the community and part of what is happening in the Downtown area.”
The Prudential Drive location just a short walk from three brand new residential towers also creates a solid potential customer base.
“That was part of the decision-making process,” said Hammel. “We did significant studies about where we should be. Some said this was the spot to be, others said it was not. We think this is the spot to be.
“We are close to major hospitals, which is a big part of our client base. We are also near attorney offices and CPAs (certified public accountants).”
The bank currently has 32 employees, but it’s the future Hammel is excited about. He says the bank will have $300 million in assets and eight branch locations within the next three years.
“We’re waiting for approvals for a Westside location and we are in contract negotiations for a Northside branch,” said Hammel, adding the bank is looking at several other areas of town for expansion.
Hammel said Synovus is different from other community banks in that it operates under its own charter and its directors are legally responsible for the bank’s actions. Also, Synovus’ board of directors has an active role in the day-to-day operations of the bank.