synovus investor relations

"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. Period-end deposit growth of $2.7 billion or 6%. 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. The tangible common equity ratio is used by management to assess the strength of our capital position. 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. The credit outlook continued to improve, with a 14% reduction in criticized and classified loans and another quarter of reserve release. Synovus Bank, NMLS #408043. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange Processed and approved $1.0 billion in Round 2 PPP loans, supporting approximately 11,000 customers. Preliminary CET1 ratio improved 1 bp during the quarter to 9.75% as strong core performance helped offset the impact of $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%. 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. Net interest income of $392.3 million an increase of 2% quarter over quarter. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. A fast, safe, and easy way to send money. 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. If you think you've been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. You can participate directly in the Plan by submitting a completed Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. Shareholders are not required 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. ours. and South Carolina. Loans subject to approval including credit approval. If you are not a Synovus shareholder you can join the Plan by making an 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 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 281 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. This communication is directed to properties in those states. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Senior Vice President, ESOP Finance. 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. and South Carolina. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. 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. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. 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. 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. Commercial and industrial (C&I) loans increased $626.4 million or 3% from the prior quarter. February 10, 2023 - 7:30 AM PST. Consumer loans decreased by $96.7 million or 1% 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. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. 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/. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. Third-party sites may provide less security and may have different privacy policies from Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. Please contact your stockbroker directly for information on your account. 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. 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 specialized products and services, including private banking, treasury management, wealth management, mortgage services, Non-interest revenue of 117.1 million, an increase of 2% from third quarter. News by QuoteMedia. 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 is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. 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. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. This impact was offset by a 2 basis point positive impact from non-PPP related earning 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. Email Synovus Bank, NMLS #408043. Second consecutive quarter of record commercial loan production. Notifications. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Your key to world-class wealth management. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 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. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. Trust services for Synovus are provided by STC. Synovus Mobile Banking. 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. The replay will be archived for 12 months. Whether your financial aspirations are personal or for your business, we can help you reach them. Loans subject to approval including credit approval. Shareholder Services These companies will maintain and manage your information in accordance with their policies and procedures,please review them. responsible for any of the content or additional links they contain. 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. 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. 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. The effective tax rate was 25.6% for the quarter. responsible for any of the content or additional links they contain. 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. Third-party sites aren't under our control, and we're not This communication is directed to properties in those states. Total deposit costs declined 6 bps sequentially to 0.16%. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Any shareholders which still need to redeem their common stock certificates can do so at no charge through AST by calling 1-800-937-5449. Non-interest revenue decreased $3.9 million, or 3% sequentially. Jul 21, 2022, 8:30 a.m. 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. 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. Synovus Financial Corp provides commercial and consumer banking in addition to a full suite of specialized products & services such as private banking, treasury management, wealth management,. 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. 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. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Synovus Bank, NMLS #408043, is an Equal Housing Lender. 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. 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/. Share this article: Stay In The Know. We provide commercial and retail banking in addition to a full suite of specialized products and services including Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. enrollment form. 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. The computations of these measures are set forth in the attached tables. The tangible common equity ratio is used by management to assess the strength of our capital position. Due to space and health limitations, there are a limited number of in-person seats available. Or if you have questions, please call the number below. ET. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Free. Alabama, South Carolina, Florida, and Tennessee. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Notifications, one-for-seven The replay will be archived for 12 months and will be available 30-45 minutes after the call. 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. The information you enter may be retained by these companies and may be shared with insurance companies. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. 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%. 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 Net interest margin was 3.22%, up 22 bps sequentially, aided by higher interest rates, lower cash balances, and slower deposit repricing. You are about to leave the Synovus web site for a third-party site. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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%. 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. 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. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. 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. 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Reinvestment and Direct Stock Purchase Plan. 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. 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. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . Get your suppliers paid. Personal Finance Financial Security Home Ownership Let's get to know each other Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. 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 income increased $7.4 million or 2% compared to the prior quarter. https://www.consumerfinance.gov/mortgage/, Net income available to common shareholders, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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 $55 billion in assets. Personal Finance. Period-end deposit growth of $1.7 billion or 4% from the third 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. PPP loans declined $382.6 million quarter over quarter. Synovus is in the goals business, and we want to know yours. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. 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 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 281 branches in Georgia, Alabama, South Carolina, Florida, and Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Get yourself paid. Reversal of provision for credit losses of $24.6 million, primarily from a more favorable economic outlook. Select to close this tab. 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. Adjusted earnings per diluted share for 2021 were $4.95 as compared to $2.41 for 2020, an increase of 106%. Net interest margin of 3.02%, down 2 bps sequentially. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. 404-364-2739. kevinsuchecki@synovus.com. Reverse Stock Split Follow Up Message from LINK Shareholder Services 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. United States. You can reinvest all or part of your cash dividends to accumulate more Third-party sites may contain less security and may have different privacy policies from ours. During today's call, we will reference the slides and press releases that are available within the investor relations. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. ET on February 8th, 2022. 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. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. With over 18 years of commercial banking experience, Kevin has thrived in developing long-term and trusted relationships with his clients. 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. 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. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. During the event, President and CEO Kevin Blair, CFO Jamie Gregory, and other members of the Synovus executive leadership team will present the companys business drivers and strategic plans for building the bank of the future. Many of these factors are beyond Synovus ability to control or predict. 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. 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