Southeastern banking company Synovus Financial Corp. said Thursday that company president Fred Green, the former chief executive of National Bank of South Carolina, has resigned.
Columbus, Ga.-based Synovus, the parent of NBSC, gave no reason for Green’s departure.
Synovus CEO Richard Anthony issued the following bland statement: “The Synovus family is grateful to Fred for the service he has offered over the past 14 years, and we wish him the very best as he pursues the next stage of his career. I am confident that the foundation he has helped build will be a tremendous asset as we continue the work of positioning Synovus to emerge stronger from today’s challenging economic environment.”
Synovus reported a net loss of $136 million for first quarter of 2009. Its stock trades for a little more than $3 a share.
Green was the head of NBSC when Synovus bought the Columbia bank in 1995. He helped grow it into a banking powerhouse, increasing its asset size to $4 billion by the time he moved to the parent company in 2006.
Green is a well respected banker and an all-around good guy. Columbia could do a lot worse if he were to return to the Palmetto State.