Synovus to Acquire Riverside Bancshares, Inc.

COLUMBUS, GA – Synovus (NYSE: SNV) today announced the signing of a definitive agreement to acquire Marietta, Georgia-based Riverside Bancshares, Inc., the parent company of Riverside Bank, in a tax-free exchange of common stock. The acquisition marks a significant step in growing the company’s presence in the metropolitan Atlanta market. Riverside Bank currently operates in the north metro area and will become part of Synovus’ Bank of North Georgia, based in Alpharetta. In addition to Bank of North Georgia, Synovus also serves the metro-Atlanta market with separately chartered full-service banks in Carrollton, Covington, Douglasville, Monroe, Newnan and Peachtree City.

“We are so pleased with the opportunity to expand in Atlanta by joining with Riverside Bank,” said Fred L. Green, Vice Chairman of Banking Operations for Synovus. “By merging Riverside with Bank of North Georgia, customers will gain greater convenience through more banking locations and enhanced product and service offerings,” Green continued. “This kind of move affirms Synovus’ commitment to strategically build a stronger, deeper banking and asset management presence in high growth markets like Atlanta.”

Riverside Bank currently has approximately $650 million in assets with more than 90 team members serving customers through five banking locations in north metro Atlanta. Once the merger with Bank of North Georgia is complete, Synovus will serve the Atlanta metro area with a combined total of $5.4 billion in assets and 57 banking locations offering a full range of integrated financial services, including banking, trust, brokerage, mortgage and insurance as well as full service ATMs. Synovus also offers ATM banking to customers through a network of 281 branches in Georgia, Alabama, Florida, South Carolina and Tennessee.

After completion of the merger, Chairman and CEO Don Howard will continue in his leadership role with Bank of North Georgia. Riverside Chairman and CEO Kessel Stelling, Jr. will become President and COO of Bank of North Georgia. Randy Carroll, current Bank of North Georgia President and COO, will become Vice Chairman.

“Riverside Bank’s approach to customer service and its current banking locations complement our commitment to serving our customers and growing in this critical market,” said Don Howard. “The process of transitioning customers from the Riverside banking environment into Synovus and Bank of North Georgia will be done with minimal impact, and they will immediately experience the benefits of our greater asset size to provide more support for larger loan requests, more banking locations to meet their convenience needs, and enhanced products and services including cash management, mortgage, and private client services.”

Kessel Stelling agreed. “Joining Synovus and Bank of North Georgia creates such a win for our customers, team members and our companies overall. Our passion for service and our commitment to our community will grow even stronger as we partner with a financial services company with more than $26 billion in assets. I am also delighted to work with the many fine banking professionals at Bank of North Georgia.”

Synovus will issue approximately 5,880,308 shares of its common stock for all of the outstanding common stock and common stock equivalents of Riverside Bancshares. Each share of common stock of Riverside will be exchanged for 1.0312 shares of Synovus common stock. The acquisition of Riverside Bancshares is expected to close in the fourth quarter of 2005 with the merger of Riverside Bank into Bank of North Georgia to follow in the first quarter of 2006. The acquisition is subject to approval by the shareholders of Riverside Bancshares, Inc. and by banking regulatory agencies.