Entegra Financial, which had agreed to sell to SmartFinancial, is now selling to First Citizens, which offered more money and will pay a breakup fee for the initial deal.
The Fed board unveiled a proposal Tuesday to standardize how investors owning less than one-quarter of a bank can determine who holds a "controlling" stake and therefore must register as a bank holding company.
CEO Kessell Stelling said he thinks about Synovus' depressed stock price daily, even though his team is ahead of schedule cutting costs from a deal that closed in January.
