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Synovus grants stock to 10 key execs (2.8.10)
KESSEL STELLING
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Three days after Synovus announced quarterly losses of
$249.9 million, the company granted 535,720 shares of stock valued at
$1,500,016 to 10 key executives.
Included on that list of insider transactions was Kessel D.
Stelling Jr., the current president of the Bank of North Georgia and reportedly
a prime candidate to succeed Fred Green III as president of Synovus.
Stelling and nine other Synovus officials received 53,572
shares of stock on Feb. 1. Market value of the stock was $2.80 a share at the
close of business that day. It was classified as a direct acquisition on the
non-open market. The value was zero, according to Yahoo Financial.
The other nine receiving stock were:
- Jeffrey Barton Singleton — Executive VP,
Financial Management Services
- Kevin Joseph Howard — Chief Credit Officer
- Dallis R. Copeland Jr. — Chief Commercial Officer
- Leila S. Carr — Executive VP, Chief Retail
Officer
- Samuel E. Hatcher — Executive VP, General
Counsel
- Elizabeth R. James — Vice Chairman, Chief People Officer,
Chief Information Officer
- Mark G. Holladay —
Executive VP, Chief Risk Officer
- Thomas J. Prescott — Executive VP, Chief
Financial Officer
- Richard E. Anthony — Chairman of the Board, President &
CEO
With the exception of Stelling, each one on the list is a
member of the Columbus company’s Executive Management Team. The only member of
that group not receiving stock was Executive Vice President Calvin Smyre.
In addition to Stelling’s role with the Bank of North Georgia,
he became Synovus Regional CEO for the Atlanta market in 2008. Synovus acquired
his bank in 2006, creating a merger between the Bank of North Georgia and
Riverside Bank The bank has more than $5.5 billion in assets.
A graduate of the University of Georgia, he has been in
banking for 36 years, working in Richmond and Cobb counties. He is a member of
the Georgia Board of Regents. Bank of North Georgia was voted among the Atlanta Business Chronicle's Best Places to Work in 2009. It has made a similar list compiled by Georgia Trend for three straight years.
On Feb. 18, he speaks at the Terry School Business. His
topic: “Managing Through Tough Times.”
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