Synovus Financial Corp. announced today that the previously announced one-for-seven reverse stock split of Synovus’ common stock, par value $1.00 per share, became effective at 4:15 p.m. EDT on May 16, 2014.

Synovus’ common stock will begin trading on a split adjusted basis on the New York Stock Exchange at the opening of trading on May 19, 2014. Synovus’ common stock will continue trading under the trading symbol “SNV,” but will trade under a new CUSIP number and a new ISIN number.

Synovus shareholders will receive one new share of Synovus common stock for every seven shares of Synovus common stock they held at the effective time of the reverse stock split. Synovus shareholders will receive the notices, forms, and instructions regarding the exchange of their pre-split shares for post-split shares from Synovus’ transfer agent, American Stock Transfer & Trust Company, LLC, who is acting as the exchange agent for the reverse stock split, or such shareholder’s bank, broker, or other nominee if such shares are held in “street name.”

Additional Information for Shareholders

Fractional Shares

Synovus will not issue fractional shares of its common stock as a result of the reverse stock split. Instead, Synovus’ transfer agent will aggregate all fractional shares resulting from the reverse stock split into whole shares and arrange for them to be sold on the open market at prevailing prices. In lieu of fractional shares, shareholders will receive a cash payment equal to their allocable share of the total proceeds of these sales. Shareholders will not be entitled to receive interest for the period of time between the effective date of the reverse stock split and the date they receive their cash payment in lieu of fractional shares.

Exchange of Common Stock Certificates

Shareholders with certificated shares are required to exchange their stock certificates for the appropriate number of shares of Synovus common stock resulting from the reverse stock split. Synovus’ transfer agent will manage the exchange of stock certificates and will distribute to such shareholders a letter of transmittal providing instructions for the exchange of their old stock certificates. Shareholders should not send in their old stock certificates until they receive a letter of transmittal from Synovus’ transfer agent.

Shareholders with book-entry shares or that hold their shares in “street name” through a bank, broker, or other nominee will not need to take any action to exchange their pre-split shares for post-split shares.

Treatment of Stock Options and Restricted Stock Units

The number of shares of common stock into which Synovus’ outstanding stock options and restricted stock units, as well as the options’ relevant exercise price per share, will be proportionally adjusted to reflect the reverse stock split. The number of shares authorized for issuance under Synovus’ equity incentive plans will also be proportionally reduced to reflect the reverse stock split.

Proportional Reduction in Authorized Shares

Concurrently with the effectiveness of the reverse stock split, the number of Synovus’ authorized shares of common stock was proportionally reduced from 2.4 billion shares to approximately 342.9 million shares.