https://www.consumerfinance.gov/mortgage/. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Shareholder Services Credit quality ratios remain near historical lows. Reinvestment and Direct Stock Purchase Plan. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. 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. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. 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. 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. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. This communication is directed to properties in those states. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 1-800-937-5449. Non-interest expense increased $28.2 million or 11% sequentially. SNV earnings call for the period ending June 30, 2022. Get yourself paid. Synovus provides commercial and retail banking, investment, and mortgage services through 285 branches in Alabama, Florida, Georgia, South Carolina, and Tennessee. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. https://www.consumerfinance.gov/mortgage/. Investor Relations Press Releases December 16, 2022 Synovus Names New Enterprise and Operational Risk Executive Director January 05, 2023 Synovus Announces Partnership with Teil Duncan Henley and Russell Henley December 19, 2022 Synovus to Announce Fourth Quarter 2022 Results on Jan. 19, 2023 December 16, 2022 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Or if you have questions, please call the number below. You can reinvest all or part of your cash dividends to accumulate more 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. A fast, safe, and easy way to send money. For a link to the webcast, go to investor.synovus.com/event. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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. Trust services for Synovus are provided by STC. 2023 Synovus Financial Corp. All rights reserved. Adjusted non-interest revenue decreased $6.2 million, or 6% sequentially, and increased $12.7 million, or 14% compared to prior year. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus provides commercial and retail banking, investment, and mortgage services through 249 branches and 335 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. 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. CRE loans declined $172.9 million as the recovery in commercial real estate continues. 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, is an Equal Housing Lender. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. C&I line utilization remains near historic lows at ~40%. 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. Consumer loans decreased by $96.7 million or 1% sequentially. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 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 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. Banking products are provided by Synovus Bank, Member FDIC. 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. 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. 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.. The effective tax rate was 21.88% for the quarter. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. For a link to the webcast, go to investor.synovus.com/event. Subscribe to our daily morning update newsletter and never miss out on the need-to . 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. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. 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 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. Senior Vice President, ESOP Finance. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. 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 . Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Banking products are provided by Synovus Bank, Member FDIC. https://www.consumerfinance.gov/mortgage/. 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. The information you enter may be retained by these companies and may be shared with insurance companies. 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. You are about to leave the Synovus web site for a third-party site. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. responsible for any of the content or additional links they contain. Email Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . Georgia, with approximately $60 billion in assets. Many of these factors are beyond Synovus ability to control or predict. The replay will be archived for 12 months and will be available 30-45 minutes after the call. ET on February 8th, 2022. Period-end loans decreased $569.1 million or 1% sequentially. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Loans subject to approval including credit approval. Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. Synovus Bank, NMLS #408043. 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. Whether your financial aspirations are personal or for your business, we can help you reach them. common stock certificates can do so at no charge through AST by calling Investment Stage. Total revenue, excluding Paycheck Protection program (PPP) fees, of $519.0 million increased $50.4 million, or 11%, compared to prior year. 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. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 404-364-2739. kevinsuchecki@synovus.com. You can purchase additional shares by investing between a minimum of $50 at Drivers of the decline included our strong credit performance, including reduction of NPLs, and quality and mix of new originations, offset by an uncertain and generally negative economic outlook. 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. 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. Alabama, South Carolina, Florida, and Tennessee. Banking products are provided by Synovus Bank, Member FDIC. 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. ET. 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. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Net interest margin of 3.02%, down 2 bps sequentially. Synovus Bank, NMLS #408043. 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. Cal Evans: Media Relations. Reverse Stock Split Follow Up Message from LINK Shareholder Services The measures entitled adjusted non-interest expense; 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. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. Quarter-over-quarter and year-over-year declines were primarily related to a $7 million write-down on a minority fintech investment and a challenging mortgage banking environment, partially offset by increases in wealth revenue, capital markets, and card fee income categories. 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. We are delivering on Synovus Forward, with $75 million in pre-tax benefits to date, and we continue to strengthen our competitive position by investing in specialized talent, technology and solutions, and by taking advantage of our economically vibrant Southeast footprint, Blair said. 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. Synovus Bank, NMLS #408043. PPP loans declined $382.6 million quarter over quarter. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Actual results may differ materially from those contemplated by such forward-looking statements. Third-party sites may provide less security and may have different privacy policies from Shareholders are not required Personal Finance. All statements other than statements of historical fact are forward-looking statements. Period-end deposit growth of $2.7 billion or 6%. Contacts Cal Evans Investor Relations. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. 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 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. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. View source version on businesswire.com:. Adjusted non-interest expense increased $4.1 million, or 1%, sequentially and increased $15.4 million, or 6%, compared to prior year. Reversal of provision for credit losses of $24.6 million supported by a more positive economic outlook and 14% reduction in criticized and classified loans; allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. Allowance for Credit Losses (ACL) decreased $184.0 million, and the ACL ratio decreased 52 basis points to 1.19%, or 1.21% excluding PPP loans, primarily due to a continued positive shift in the economic outlook. With a strong market position, broad geographic coverage footprint servicing 50 states . Investor Relations investorrelations@synovus.com Synovus Financial Corp. NYSE:SNV Release Summary Synovus Chairman, CEO and President Kevin Blair will participate at the BofA Securities. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. The tangible common equity ratio is used by management to assess the strength of our capital position. In connection with our one-for-seven Net interest income increased $7.4 million or 2% compared to the prior quarter. Synovus. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. ", 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. 2021 was another challenging year, but our teams were able to navigate the uncertain environment to support our clients, contribute to our communities and deliver for our shareholders. 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. enrollment form. Revenue growth in the quarter was largely driven by an $8 million increase in net interest income resulting from earning asset growth. The earnings call will be accompanied by a slide presentation. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Our ongoing focus on growing core operating deposit relationships led to another quarter of account growth, as well as non-interest bearing deposit growth of $254 million. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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%. shares of the post-split amount. Many of these factors are beyond Synovus ability to control or predict. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $12.7 million, down $8.6 million from the third quarter. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram . HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. Notifications, one-for-seven 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. 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. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. 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%. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. 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. 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