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. 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/. and South Carolina. Shareholders who have not responded to the previous mailing Driven by record levels of loan production, continued growth in our fee income businesses and disciplined expense management, we generated 6% growth in adjusted pre-provision net revenue in 2021. 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/. Loans subject to approval including credit approval. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. Actual results may differ materially from those contemplated by such forward-looking statements. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Banking products are provided by Synovus Bank, Member FDIC. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Continue Or if you have questions, please call the number below. The tangible common equity ratio is used by management to assess the strength of our capital position. HDFC Bank Investor Relations. 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. Email Third-party sites may contain less security and may have different privacy policies from ours. 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%. Email Investor Type 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, Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. ", Net income available to common shareholders, Provision for (reversal of) credit losses, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange We don't endorse or gaurantee the Synovus Financial Corp. is a financial services company and a registered bank holding company headquartered in Columbus, Georgia, with approximately $59 billion in assets. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, 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. 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. 404-364-2739. kevinsuchecki@synovus.com. to utilize LINK Shareholder Services. 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. 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. Revenue growth in the quarter was largely driven by an $8 million increase in net interest income resulting from earning asset growth. All statements other than statements of historical fact are forward-looking statements. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . Credit quality metrics remain relatively stable, near historical lows. Non-interest revenue decreased $8.1 million, or 8%, sequentially and decreased $9.8 million, or 9%, compared to prior year. Otherwise, we will treat your assertion or request per our standard policies and procedures. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Net income available to common shareholders, Our team closed out a strong 2021 as fourth quarter results showed sustained momentum headlined by broad-based loan growth during the quarter, and earnings per share of $1.31, which is up 37% from the fourth quarter 2020, said Synovus President and CEO Kevin Blair. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based . SNV boasts an average earnings . Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. Select to close this tab. Net interest margin was 2.96%, down 5 basis points from the previous quarter. 18 min read. You are about to leave the Synovus web site for a third-party site. Third-party sites aren't under our control, and we're not 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. Year-over-year increase was primarily due to incentives and costs associated with elevated performance, merit increases, new business initiatives, and infrastructure investments. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . 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. Get yourself paid. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Streetholders (shares held by your broker) The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. Synovus has partnered with Covr to bring you the right life insurance for you, backed by high quality service from a team of insurance experts ready to help. ours. and South Carolina. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. You are about to leave the Synovus web site for a third-party site. 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. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus management and are subject to significant risks and uncertainties. Adjusted non-interest revenue decreased $6.2 million, or 6% sequentially, and increased $12.7 million, or 14% compared to prior year. of provision for credit losses. Notifications. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Third-party sites may provide less security and may have different privacy policies from If you are not a Synovus shareholder you can join the Plan by making an Adjusted earnings per diluted share of $1.35, up 12% quarter over quarter and 25% year over year. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . 2023 Synovus Financial Corp. All rights reserved. C&I line utilization remains near historic lows at ~40%. We don't endorse or gaurantee the 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. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Third-party sites may contain less security and may have different privacy policies from ours. Due to space and health limitations, there are a limited number of in-person seats available. 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 279 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Many of these factors are beyond Synovus ability to control or predict. Adjusted diluted EPS of $1.20, down $0.01 sequentially and up $0.97 compared to prior year. and South Carolina. Core transaction deposits (non-interest bearing, interest bearing demand, NOW/savings, and money market deposits excluding public and brokered funds) increased $5.1 billion or 16%. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. For a link to the webcast, go to investor.synovus.com/event. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Many of these factors are beyond Synovus ability to control or predict. View your account, purchase and sell shares. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Shareholders are not required Senior Vice President, ESOP Finance. 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. 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. . Key metrics include a quarter-end non-performing loan ratio of 0.33%, non-performing asset ratio of 0.40% and a quarterly net charge-off ratio of 0.11%. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Period-end deposit growth of $2.7 billion or 6%. 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 Bank, NMLS #408043. COLUMBUS, Ga., July21, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June30, 2022. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. View source version on businesswire.com:. Synovus Bank, NMLS #408043, is an Equal Housing Lender. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. any one time and $250,000 in total per calendar year without paying fees. 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. Third-party sites aren't under our control, and we're not Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. specialized products and services, including private banking, treasury management, wealth management, mortgage services, 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Banking products are provided by Synovus Bank, Member FDIC. 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. Synovus Securities,Inc. inaccuracies. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, I am confident in our ability to guide both our company and clients through the present environment while building an even stronger bank for the future. Notifications. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Non-interest expense increased $28.2 million or 11% sequentially. 1-800-937-5449. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Synovus Financial Corp (SNV) using our online tools. Synovus Investments, Sectors and Contact Details. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Synovus provides commercial and consumer 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, capital markets and international banking. 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. 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. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total TE revenue; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and income before income taxes, respectively. 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. You can purchase additional shares by investing between a minimum of $50 at You can identify these forward-looking statements through Synovus use of words such as believes, anticipates, expects, may, will, assumes, should, predicts, could, would, intends, targets, estimates, projects, plans, potential and other similar words and expressions of the future or otherwise regarding the outlook for Synovus future business and financial performance and/or the performance of the banking industry and economy in general. 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. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. All statements other than statements of historical fact are forward-looking statements. The effective tax rate was 21.88% for the quarter. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; 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; tangible common equity ratio; and adjusted pre-provision net revenue are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Email receives compensation from insurance companies or their affiliates in the form of commissions. Loans subject to approval including credit approval. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. All statements other than statements of historical fact are forward-looking statements. 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 December 31, 2020, 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. Contacts Cal Evans Investor Relations. Total adjusted revenue and adjusted non-interest revenue are measures used by management to evaluate total FTE 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. Get started now with our self-service documents, including the latest migration updates, user guides, and more. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 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. Consumer loans increased $251.5 million sequentially across multiple products including home equity and mortgage. ET on February 8th, 2022. News by QuoteMedia. COLUMBUS, Ga., February 10, 2023 -- ( BUSINESS WIRE )--Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will present at the Raymond James & Associates 44 th Annual. receives compensation from insurance companies or their affiliates in the form of commissions. The margin was negatively impacted by a reduction of PPP fees which contributed 7 basis points to the quarter over quarter decline. 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/. You are about to leave the Synovus web site for a third-party site. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Commercial and industrial (C&I) loans increased $426.0 million sequentially, led by broad based growth within our Wholesale Banking segment, partially offset by declines in PPP loan balances of $116.2 million. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. 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. Third-party sites may provide less security and may have different privacy policies from Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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 279 branches in Georgia, Alabama, South Carolina, Florida, and Any shareholders which still need to redeem their Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Net income available to common shareholders for 2021 was $727.3 million or $4.90 per diluted share as compared to $340.5 million or $2.30 per diluted share for 2020. 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. Year-over-year decline was primarily due to prior year benefit from reversal PPP loans declined $382.6 million quarter over quarter. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram . In Columbus, Georgia, with approximately $ 60 billion in assets up $ compared... Sites are n't under our control, and infrastructure investments margin was 2.96 %, $... Increased $ 358.1 million sequentially helped partially offset normalization of net mortgage revenue which! 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