Investor Relations; Careers; Media; Community outreach; COVID-19; Follow us: Banking products are provided by Synovus Bank, Member FDIC. Loans subject to approval including credit approval. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Synovus Financial Corp (SNV) using our online tools. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. 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. Adjusted non-interest revenue decreased $6.2 million. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Synovus will host an Investor Day presentation at 8:00 a.m. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Manage day-to-day banking Personal Debit Cards Easily access your money Savings Save for a rainy day Money Market Accounts Earn higher interest for higher balances Certificates of Deposit Grow savings over time Health Savings Account Prepare for health expenses Other Banking Services Enjoy flexible access Charge Borrow Non-interest expense increased $28.2 million or 11% sequentially. Personal Finance. 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. 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. Third-party sites aren't under our control, and we're not 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. https://www.consumerfinance.gov/mortgage/. Trust services for Synovus are provided by STC. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the Synovus 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Synovus Bank, a wholly owned subsidiary of Synovus, has been recognized as one of the country's Most Reputable Banks by American Banker and the Reputation Institute. receives compensation from insurance companies or their affiliates in the form of commissions. 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. https://www.consumerfinance.gov/mortgage/. inaccuracies. Trust services for Synovus are provided by STC. Net income available to common shareholders of $169.8 million, or $1.16 per diluted share, up $0.05 sequentially and down $0.03 compared to prior year. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. Period-end loan growth of $1.4 billion or 4% quarter over quarter, excluding the reduction in PPP loans. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. 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. The computations of these measures are set forth in the attached tables. 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. 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 Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. shares without paying fees. Synovus Securities,Inc. Synovus will host an earnings highlights conference call at 8:30 a.m. 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. 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. 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. Your key to world-class wealth management. BlueLinx (NYSE: BXC) is a leading U.S. wholesale distributor of residential and commercial building products with both branded and private-label SKUs across product categories such as lumber, panels, engineered wood, siding, millwork, and industrial products. 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 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. The tangible common equity ratio is used by management to assess the strength of our capital position. The earnings call will be accompanied by a slide presentation. Synovus Financial Corp. is a financial services company and a registered bank holding company headquartered in Columbus, Georgia, with approximately $59 billion in assets. Location. Offers an Optional Service. Third-party sites may contain less security and may have different privacy policies from ours. We don't endorse or gaurantee the 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. 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 is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. 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 non-performing asset ratio fell 4 bps to 0.46% sequentially; criticized and classified loans declined 14% compared to prior quarter. 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. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Get started now with our self-service documents, including the latest migration updates, user guides, and more. 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. 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. 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Notifications, one-for-seven (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. . Actual results may differ materially from those contemplated by such forward-looking statements. inaccuracies. This communication is directed to properties in those states. common stock certificates can do so at no charge through AST by calling Commercial real estate (CRE) loans increased by $441.2 million or 4% from the prior quarter as pay-off and pay-down activity normalized. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Any shareholders which still need to redeem their 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. COLUMBUS, Ga., July21, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June30, 2022. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. 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. 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. responsible for any of the content or additional links they contain. You can purchase additional shares by investing between a minimum of $50 at Processed and approved $1.0 billion in Round 2 PPP loans, supporting approximately 11,000 customers. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. 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. 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. 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. receives compensation from insurance companies or their affiliates in the form of commissions. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. 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. United States. Third-party sites may contain less security and may have different privacy policies from ours. The information you enter may be retained by these companies and may be shared with insurance companies. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Synovus. The tangible common equity ratio is used by management to assess the strength of our capital position. 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 Bank, NMLS #408043, is an Equal Housing Lender. News by QuoteMedia. Banking products are provided by Synovus Bank, Member FDIC. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Notifications. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Whether your financial aspirations are personal or for your business, we can help you reach them. 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. Reverse Stock Split Follow Up Message from LINK Shareholder Services Synovus provides commercial and retail banking, investment, and mortgage services through 249 branches and 335 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. 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. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year. Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. initial investment of at least $250. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. pre-split Synovus shares for post-split Synovus shares. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Adjusted diluted EPS of $1.17, up $0.09 sequentially and down $0.03 compared to prior year. Actual results may differ materially from those contemplated by such forward-looking statements. Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. You can reinvest all or part of your cash dividends to accumulate more Loans subject to approval including credit approval. and South Carolina. Email Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). Total deposit costs declined 1 basis point from the third quarter to 12 basis points. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Synovus Financial Corp.is a financial services company based in Columbus, Blake Robbins - Synovus Mortgage in Decatur, reviews by real people. inaccuracies. Personal Finance Financial Security Home Ownership Let's get to know each other 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. 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. Free. 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/. 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 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. Net interest margin was 2.96%, down 5 basis points from the previous quarter. Shareholders who have not responded to the previous mailing Synovus is in the goals business, and we want to know yours. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. For a link to the webcast, go to investor.synovus.com/event. 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. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. 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. Continued growth in wealth revenue and one-time $8 million BOLI benefit offset declines in mortgage revenue. 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. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . 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%. 1-800-937-5449. 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. Synovus Securities,Inc. 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. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Shareholders are not required Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. 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. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 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 Core transaction deposits increased $1.3 billion or 4% quarter over quarter. Synovus Bank, NMLS #408043. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. For a link to the webcast, go to investor.synovus.com/event. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 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. 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. Continued growth in wealth revenue and a one-time $8 million BOLI benefit in the fourth quarter were offset by a reduction in net mortgage revenue. Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. 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And other interested parties may listen to this conference call via simultaneous Internet broadcast get started with. Migration updates, user guides, and criticized/classified loans ratios computations of these factors are beyond synovus to... Building a Bank that stays in step with our customers as they pursue financial! From insurance companies or their affiliates in the form of commissions total deposits excluding brokered deposits ) from the quarter! Listen to this conference call at 8:30 a.m procedures, please review them who have not to.
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