Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. The non-performing asset ratio fell 4 bps to 0.46% sequentially; criticized and classified loans declined 14% compared to prior quarter. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. Actual results may differ materially from those contemplated by such forward-looking statements. 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. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . responsible for any of the content or additional links they contain. Synovus is in the goals business, and we want to know yours. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Notifications. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. The information you enter may be retained by these companies and may be shared with insurance companies. Synovus Financial Corp. ( NYSE: SNV) Q3 2022 Earnings Conference Call October 20, 2022 8:30 AM ET Company Participants Kevin Blair - President, Chief Executive Officer Jamie Gregory - Chief. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. 2023 Synovus Financial Corp. All rights reserved. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. Step-by-step guide for your everyday banking tasks. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Cal Evans: Media Relations. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. 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. 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. 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. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. 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. Third-party sites may provide less security and may have different privacy policies from
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. February 10, 2023 - 7:30 AM PST. 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. 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. 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/. www.quotemedia.com. ours. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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 is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. 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 Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. 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/. Banking products are provided by Synovus Bank, Member FDIC. Synovus will host an earnings highlights conference call at 8:30 a.m. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . 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. This communication is directed to properties in those states. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. With a strong market position, broad geographic coverage footprint servicing 50 states . 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. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. ET on January 20, 2022. 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. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Contact Us Shareholder Services 706-641-6477 HDFC Bank Investor Relations. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. 404-364-2739. kevinsuchecki@synovus.com. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. 2023 Synovus Financial Corp. All rights reserved. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. shares of the post-split amount. 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. 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. Net interest margin was 3.02%, down 2 bps sequentially. 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. You are about to leave the Synovus web site for a third-party site. The computations of these measures are set forth in the attached tables. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. Net interest income increased $7.4 million or 2% compared to the prior quarter. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. The earnings call will be accompanied by a slide presentation. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Third-party sites aren't under our control, and we're not
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. View your account, purchase and sell shares. The margin was negatively impacted by a reduction of PPP fees which contributed 7 basis points to the quarter over quarter decline. . You are about to leave the Synovus web site for a third-party site. Third-party sites may provide less security and may have different privacy policies from
Select to close this tab. receives compensation from insurance companies or their affiliates in the form of commissions. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. enrollment form. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. ours. Box 120, Columbus, GA 31902. Total taxable equivalent revenue was $510.3 million in the fourth quarter, up $9.7 million sequentially. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. Free. and South Carolina. 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. 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. 1-800-937-5449. Whether your financial aspirations are personal or for your business, we can help you reach them. shares without paying fees. 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 don't endorse or gaurantee the
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 are not responsible for any of the content or additional links they contain. We don't endorse or gaurantee the
Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. 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 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 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 Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Location. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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. C&I line utilization increased approximately 340 basis points to 43%. 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. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . Synovus Mobile Banking. For a link to the webcast, go to investor.synovus.com/event. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. Non-interest revenue decreased $3.9 million, or 3% sequentially. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. 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. Synovus. Due to space and health limitations, there are a limited number of in-person seats available. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. 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