Synovus Bank, NMLS #408043, is an Equal Housing Lender. Select to close this tab. Synovus Securities,Inc. Investment products and services provided by Synovus are offered through Synovus Securities, Inc. (SSI) a registered Broker-Dealer, member FINRA/SIPC and SEC registered Investment Advisor, Synovus Trust Company, N.A. Synovus Financial Corp., formerly the Columbus Bank and Trust Company, is a financial services company with approximately $45 billion in assets based in Columbus, Georgia. What's on your mind? Loans subject to approval including credit approval. Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. Core transaction deposits increased $1.3 billion or 4% quarter over quarter. We don't endorse to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. Consumer loans increased $147.5 million sequentially, with growth of $273.5 million in third-party consumer lending offsetting declines in consumer mortgages and HELOCs of $98.4 million and $74.2 million, respectively. Momentum as we enter 2022 is strong; coupled with the strategic investments we are making in talent and technology, we are extremely well-positioned to deliver outsized growth this year and in years to come., (Reversal of) provision for credit losses, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. specialized products and services, including private banking, treasury management, wealth management, mortgage services, Third-party sites may contain less security and may have different privacy policies from ours. Preliminary total risk-based capital ratio of 12.60% decreased 32 basis points from the prior quarter, primarily from strong asset growth and reduction in the allowance for credit losses. Synovus Securities,Inc. The most comparable GAAP measures to these measures are total non-interest expense; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; and the ratio of total shareholders' equity to total assets, respectively. Senior Vice President, ESOP Finance. Strong seasonal inflows supported a $493.0 million increase in public funds compared to the third quarter. Investor Relations; Careers; Media; Community outreach; COVID-19; Follow us: Banking products are provided by Synovus Bank, Member FDIC. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . C&I line utilization remains near historic lows at ~40%. Year-to-date effective tax rate of 22.56% before discrete items. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Shareholders are not required Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Processed and approved $1.0 billion in Round 2 PPP loans, supporting approximately 11,000 customers. Notifications, one-for-seven You have certain rights under Federal law related to resolving errors and requesting information about your mortgage account, and you may learn more about your rights by contacting Synovus Bank, or by visiting https://www.consumerfinance.gov/mortgage/. The tangible common equity ratio is used by management to assess the strength of our capital position. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. Loans subject to approval including credit approval. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. Synovus provides commercial and retail banking and a full suite of Adjusted revenue and adjusted non-interest revenue are measures used by management to evaluate total TE revenue and non-interest revenue exclusive of net investment securities gains (losses), gain on sale and changes in the fair value of private equity investments, net, and fair value adjustment on non-qualified deferred compensation. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; total adjusted revenue; adjusted tangible efficiency ratio; adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; and tangible common equity ratio are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. ET on February 8th, 2022. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. and South Carolina. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Banking products are provided by Synovus Bank, Member FDIC. You are about to leave the Synovus web site for a third-party site. Net interest income of $381.9 million increased $8.0 million sequentially as asset growth, reduced deposit costs, and a higher day count more than offset the reduction in PPP fee income. The effective tax rate was 21.88% for the quarter. Streetholders (shares held by your broker) Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram . All statements other than statements of historical fact are forward-looking statements. Adjusted pre-provision net revenue is used by management to evaluate pre-tax earnings exclusive of (reversal of) provision for credit losses, which can vary significantly, and other items that management believes are not indicative of ongoing operations and affect period-to-period comparisons. Loans subject to approval including credit approval. of provision for credit losses. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. 2023 Synovus Financial Corp. All rights reserved. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the For fiscal 2023, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.13 to $5.20 per share. We expect our efforts to produce sustained profitable growth, positive operating leverage, and higher returns as we progress toward becoming a top quartile performing bank.. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Otherwise, we will treat your assertion or request per our standard policies and procedures. The computations of these measures are set forth in the attached tables. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Shareholders who have not responded to the previous mailing Period-end deposit growth of $2.7 billion or 6%. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Synovus Financial Corp (SNV) using our online tools. Period-end loans decreased $569.1 million or 1% sequentially. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. Otherwise, we will treat your assertion or request per our standard policies and procedures. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. Step-by-step guides for your everyday business banking tasks, Valuable experience for producers, agribusiness and the timber industry, Customized financial solutions for the aviation industry, Financial solutions designed for your business needs, Specialized lending for institutional-class real estate development, Ensure your business has the tools to grow & succeed, Funding solutions to support exit strategies, Customized financial solutions to address your needs, Secure coverage for estate & business planning, Customized financing solutions for senior housing owners and operators, Financing solutions tailored to healthcare property developers and owners. PPP forgiveness of $927 million partially offset by additional fundings of $149 million. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. COLUMBUS, GA, December 17, 2021 Synovus Financial Corp. (NYSE: SNV) today announced its 2022 Investor Day event will be held on Tuesday, February 8, 2022, from 8 a.m. to 12 p.m. The replay will be archived for 12 months and will be available 30-45 minutes after the call. receives compensation from insurance companies or their affiliates in the form of commissions. Provision for credit losses of $12.7 million increased $1.3 million sequentially; allowance for credit losses coverage ratio (to loans) of 1.11% declined 4 bps sequentially. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. Both the non-performing loan and asset ratios improved to 0.26% and 0.33%, respectively; the net charge-off ratio for the quarter was 0.16%, and total past dues were 0.14% of total loans outstanding. Synovus provides commercial and retail banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, and international banking through 261 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will present at the Raymond James & Associates 44 th Annual Institutional Investors Conference on March 7, 2023, at. View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005070/en/ CONTACT: Media Contact Audria Belton Media Relations media@synovus.comInvestor Contact Cal Evans Investor Relations Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus operating results, financial strength, the performance of its business, and the strength of its capital position. receives compensation from insurance companies or their affiliates in the form of commissions. Notifications. Non-interest revenue, excluding securities gains, increased $23.3 million or 5% year over year, reflecting strong growth in core banking fees and wealth revenue, offset by the normalization of net mortgage revenue. Synovus provides commercial and retail banking, investment, and mortgage services through 285 branches in Alabama, Florida, Georgia, South Carolina, and Tennessee. Net interest income increased $7.4 million or 2% compared to the prior quarter. Net interest margin was 3.02%, down 2 bps sequentially. If you think you've been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Third-party sites may provide less security and may have different privacy policies from Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. 2023 Synovus Financial Corp. All rights reserved. COLUMBUS, Ga., July21, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June30, 2022. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. Net interest income of $392.3 million an increase of 2% quarter over quarter. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. Synovus Announces Earnings for the Second Quarter 2022 - Synovus Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute forward-looking statements within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from those contemplated by such forward-looking statements. Adjusted non-interest expense increased $18.5 million or 7% from the prior quarter. We also acknowledge the strength of our client base, with credit metrics at historically low levels and average operating liquidity up more than 40 percent on average compared to pre-pandemic levels. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Adjusted diluted EPS of $1.20, down $0.01 sequentially and up $0.97 compared to prior year. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. The replay will be archived for 12 months. The earnings call will be accompanied by a slide presentation. For a link to the webcast, go to investor.synovus.com/event. 18 min read. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. Preliminary CET1 ratio increased 1 bp sequentially to 9.75%, with strong core earnings helping offset the decline from $92.5 million in share repurchases at an average price of $47.51, reducing average diluted outstanding shares from the prior quarter by 1.3%. COLUMBUS, Ga., January 20, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter and year ended December 31, 2021. Preliminary CET1 ratio declined 3 bps during the quarter to 9.46%, and the preliminary total risk-based capital ratio of 12.43% declined 13 bps from the previous quarter as capital generated through earnings helped offset the impact of loan growth. CRE loans declined $172.9 million as the recovery in commercial real estate continues. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. Trust services for Synovus are provided by STC. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. Contact Us Shareholder Services 706-641-6477 You can participate directly in the Plan by submitting a completed A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. ET on January 20, 2022. Jul 21, 2022, 8:30 a.m. Revenue growth in the quarter was largely driven by an $8 million increase in net interest income resulting from earning asset growth. Reversal of provision for credit losses of $24.6 million, primarily from a more favorable economic outlook. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. responsible for any of the content or additional links they contain. Forward-Looking Statements Step-by-step guide for your everyday banking tasks. Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Commercial and industrial (C&I) loans increased $626.4 million or 3% from the prior quarter. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Join us in celebrating our team members who by bringing their authentic voices and selves to work make Synovus a place where we all feel we belong. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Banking products are provided by Synovus Bank, Member FDIC. Adjusted non-interest revenue decreased $6.2 million. initial investment of at least $250. Operator: Good morning, and welcome to the Synovus Fourth Quarter . The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Net interest margin was 2.96%, down 5 basis points from the previous quarter. Included in the provision was net charge-offs of $10.5 million offset by a reduction in the ACL ratio to 1.19% at quarter-end, or 1.21% excluding PPP loans. Net income available to common shareholders was $192.1 million or $1.31 per diluted share as compared to $178.5 million or $1.21 in the prior quarter. Adjusted net income available to common shareholders, adjusted diluted earnings per share, adjusted return on average assets, and adjusted return on average common equity are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Our Synovus team delivered solid financial performance in the second quarter while continuing to position the company for long-term success, said Kevin Blair, Synovus President and CEO. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Synovus Securities,Inc. Synovus will host an earnings highlights conference call at 8:30 a.m. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. Third-party sites aren't under our control, and we're not During today's call, we will reference the slides and press releases that are available within the investor relations. Parts 1024.35 and 1024.36, then you must send written notice to us at Synovus Bank, Attention: Mortgage Customer Service, 800 Shades Creek Parkway, MS 130, Birmingham, AL 35209. Adjusted net income available to common shareholders, adjusted diluted earnings per share, adjusted return on average assets, and adjusted return on average common equity are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Adjusted non-interest expense of $285.6 million increased $18.5 million quarter over quarter due to recurring expense increases such as investments in Synovus Forward initiatives as well as other expense increases not expected to recur including a seed gift into a newly established donor advised fund and environment-driven health care costs. Net interest income of $425.4 million was up $33.1 million sequentially and increased $43.5 million, or 11%, compared to prior year, driven by strong loan growth and higher rates. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. https://www.consumerfinance.gov/mortgage/. ours. PPP loans declined $382.6 million quarter over quarter. Synovus Bank, NMLS #408043. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Third-party sites may contain less security and may have different privacy policies from ours. This communication is directed to properties in those states. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Actual results may differ materially from those contemplated by such forward-looking statements. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend News by QuoteMedia. The benefits from various efficiency initiatives were offset by higher commissions, incentives, and expenses primarily related to additional PPP forgiveness and expenses associated with higher third- party consumer loan balances. "Revenues of $523 million, up 7 percent year-over-year, were driven by our fourth consecutive quarter of annualized double-digit loan growth, excluding PPP, and 22 basis points of margin expansion during the quarter. Continued growth in wealth revenue and one-time $8 million BOLI benefit offset declines in mortgage revenue. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Non-interest expense increased $3.4 million, or 1% sequentially. Third-party sites aren't under our control, and we're not These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. Net income available to common shareholders of $177.9 million or $1.19 per diluted share, unchanged sequentially and up $0.62 compared to prior year. any one time and $250,000 in total per calendar year without paying fees. A recording of the 2022 Investor Day webcast will be available on the Investor Day website following the event. inaccuracies. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. SNV earnings call for the period ending June 30, 2022. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. Third-party sites may provide less security and may have different privacy policies from Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. For a link to the webcast, go to investor.synovus.com/event. Many of these factors are beyond Synovus ability to control or predict. The tangible common equity ratio is used by management to assess the strength of our capital position. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Third-party sites may contain less security and may have different privacy policies from ours. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. Otherwise, we will treat your assertion or request per our standard policies and procedures. We don't endorse to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. These forward-looking statements are based upon information presently known to Synovus management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December31, 2021, under the captions Cautionary Notice Regarding Forward-Looking Statements and Risk Factors and in Synovus quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Third-party sites may contain less security and may have different privacy policies from ours. Achieved pre-tax run rate benefit of approximately $110 million from Synovus Forward initiatives, driving positive operating leverage, ahead of schedule; remain on track for expected cumulative $175 million pre-tax benefit by the end of 2022. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Adjusted non-interest expense increased $2.4 million sequentially as the benefits from various efficiency initiatives were offset by higher commissions, incentives, and expenses primarily related to additional PPP forgiveness and expenses associated with higher third-party consumer loan balances. Equal Housing Lender office in Atlanta by the forward-looking statements control or predict third-party consumer loan balances $. N'T under our control, and welcome to the webcast, go to investor.synovus.com/event a recording of the or... 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