SOURCE: The Bedford Report

The Bedford Report

March 16, 2011 07:35 ET

Flagstar and Synovus Remain Talked About Takeover Targets

The Bedford Report Provides Analyst Research on Flagstar Bancorp and Synovus

NEW YORK, NY--(Marketwire - March 16, 2011) - As the economic recovery gains momentum, analysts are predicting a surge in regional bank takeovers. As major banks experience diminishing returns in their core business, they are showing willingness to utilize their large resource pools to acquire smaller institutions in a race to diversify and to build their reach. Given the limited opportunities for meaningful acquisitions, the companies in stronger financial positions, and the willingness to act, stand to gain the most from such activities.The Bedford Report examines the outlook for companies in the Regional Banking Sector and provides research reports on Flagstar Bancorp, Inc. (NYSE: FBC) and Synovus Financial Corporation (NYSE: SNV). Access to the full company reports can be found at:

www.bedfordreport.com/2011-03-FBC

www.bedfordreport.com/2011-03-SNV

Synovus has long been mentioned as a possible takeover target. The company still owes $968 million in TARP funds, leading analysts to question whether or not the bank will merely allow another financial institution to payoff TARP via an M&A transaction.

According to a report from The Financial Times, Synovus has sought counsel from investment bankers about business strategies, including a possible sale of the company. In response to its financial hardship, Synovus has written off nearly $3 billion in loan losses since 2008 and cut more than 2,000 jobs from its work force.

The Bedford Report releases regular market updates on the Regional Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

For the fourth quarter Synovus reported a loss of 23 cents per share, a significant improvement from the loss of 58 cents per share reported a year earlier. Total revenue decreased 18.0% to $321.9 million from $392.6 million in the year-ago period and 1.6% sequentially from $327.3 million in the prior quarter.

Flagstar Bancorp has also been mentioned as a potential takeover target. Cantor Fitzgerald issued a report suggesting that Flagstar is one of a handful of banks that might be bought out in the frenzied M&A activity that the firm anticipates in the next year or two.

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