Synovus' Dunbar set to retire

ST. PETERSBURG -- David Dunbar will retire from his position as CEO of Synovus Bank of Florida April 1.

He will be replaced by Dominic DiMaio, president and chief operating officer of Synovus Bank of Florida since 2010. DiMaio joined Synovus in 2006, and has ties to Synovus' operations in both Sarasota and Naples.

Dunbar has been with Synovus since 2004, when the Columbus, Ga.-based bank acquired Peoples Bank in Pinellas and Pasco counties. Over the course of his tenure, he has overseen banking operations in Pensacola, Valparaiso, Tallahassee and Mobile, Ala. He is a founding member of the board for the Pinellas Education Foundation, and was twice appointed by a Florida governor to serve on the Taxation and Budget Reform Commission and the Florida Elections Commission. 

Despite vacating his position as CEO, Dunbar will continue to serve as chairman of Synovus Bank of Florida's board of directors.

Synovus Financial Corp., the bank's holding company, has suffered significant net losses of late, including $2.8 billion in reported losses over the past three years. The company's stock (symbol: SNV) has lost more than 40% of its value over the past year, and is down 88% since the beginning of 2007.