Synovus, the Columbus, Georgia-based diversified financial services has completed the acquisition of Naples-based Banking Corporation of Florida, the parent company of First Florida Bank.

"We are delighted to officially enter three dynamic Florida markets through the acquisition of First Florida," said Fred Green, Vice Chairman of Banking Operations for Synovus."

Through its partnership with First Florida, Synovus plans to increase the resources of the local bank so that they can offer even more robust products and services to both commercial and retail consumers in these rapidly growing markets.

Robert "Bob" Smedley, CEO and President of First Florida, will also become Chairman of the Board of First Florida Bank. "First Florida can now maximize the growth potential of our local banking relationships because we are powerfully connected to a multi-billion dollar asset organization like Synovus. By joining Synovus, we gain financial strength without losing our ability to serve customers, make decisions and build relationships in our communities," said Smedley.

First Florida Bank has more than $365 million in assets with 62 team members serving customers through two branches in Naples, one in Winter Park and a loan production branch in Fort Myers. With this acquisition, Synovus' total banking assets in the state will be approximately $4 billion.