synovus investor relations

2023 Synovus Financial Corp. All rights reserved. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Total deposit costs increased 4 bps sequentially to 0.15% and were impacted by the rising rate environment. ET. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. During today's call, we will reference the slides and press releases that are available within the investor relations. For a link to the webcast, go to investor.synovus.com/event. For a link to the webcast, go to investor.synovus.com/event. Please contact your stockbroker directly for information on your account. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. 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. The earnings call will be accompanied by a slide presentation. 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. Skip to Content Toggle navigation Log in Manage Your Account You are about to leave the Synovus web site for a third-party site. This communication is directed to properties in those states. You are about to leave the Synovus web site for a third-party site. 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. Get your suppliers paid. Synovus Financial Corp. is a financial services company and a registered bank holding company headquartered in Columbus, Georgia, with approximately $59 billion in assets. 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. In connection with our one-for-seven Personal Finance Financial Security Home Ownership Let's get to know each other 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. With a strong market position, broad geographic coverage footprint servicing 50 states . 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. 2023 Synovus Financial Corp. All rights reserved. inaccuracies. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. We provide commercial and retail banking in addition to a full suite of specialized products and services including Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 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. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. 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. 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. Loans subject to approval including credit approval. The effective tax rate was 21.88% for the quarter. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. PPP loans declined $382.6 million quarter over quarter. https://www.consumerfinance.gov/mortgage/. and South Carolina. 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. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. 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. 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. reverse stock split which became effective May 16, 2014, shareholders with certificated Year-over-year decline was primarily due to prior year benefit from reversal C&I line utilization remains near historic lows at ~40%. 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. Banking products are provided by Synovus Bank, Member FDIC. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. receives compensation from insurance companies or their affiliates in the form of commissions. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. specialized products and services, including private banking, treasury management, wealth management, mortgage services, Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Total deposits ended the quarter at $49.03 billion, up $378.5 million sequentially, impacted by seasonal effects and rate-driven outflows of $803.9 million and $358.3 million, respectively, in money-market and interest-bearing demand deposit accounts and offset by the use of brokered deposits as a cost-effective balance sheet and liquidity management tool. 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. Shareholders are not required Alabama, South Carolina, Florida, and Tennessee. ours. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. 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. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. Image source: The Motley Fool. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. The tangible common equity ratio is used by management to assess the strength of our capital position. Email Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. All statements other than statements of historical fact are forward-looking statements. Net interest margin was 3.22%, up 22 bps sequentially, aided by higher interest rates, lower cash balances, and slower deposit repricing. Streetholders (shares held by your broker) Cal Evan -- Head of Investor Relations Thank you, and good morning. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. Continue Or if you have questions, please call the number below. 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. 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 pre-split Synovus shares for post-split Synovus shares. Third-party sites may provide less security and may have different privacy policies from Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. 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 Banking products are provided by Synovus Bank, Member FDIC. Year-over-year increase was primarily due to incentives and costs associated with elevated performance, merit increases, new business initiatives, and infrastructure investments. Select to close this tab. Or if you have questions, please call the number below. HDFC Bank Investor Relations. 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. ours. You can reinvest all or part of your cash dividends to accumulate more The tangible common equity ratio is used by management to assess the strength of our capital position. This communication is directed to properties in those states. We don't endorse or gaurantee the reverse stock split. Net interest income of $381.9 million increased $8.0 million sequentially as asset growth, reduced deposit costs, and a higher day count more than offset the reduction in PPP fee income. Otherwise, we will treat your assertion or request per our standard policies and procedures. shares of the post-split amount. Your key to world-class wealth management. inaccuracies. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. 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,. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Trust services for Synovus are provided by STC. 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. Personal Finance. The credit outlook continued to improve, with a 14% reduction in criticized and classified loans and another quarter of reserve release. Non-interest expense increased $28.2 million or 11% 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. Your key to world-class wealth management. 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 1-800-937-5449. SNV boasts an average earnings . Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. 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. 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. Banking products are provided by Synovus Bank, Member FDIC. Synovus Securities,Inc. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Synovus Bank, NMLS #408043, is an Equal Housing Lender. Third-party sites may contain less security and may have different privacy policies from ours. Third-party sites aren't under our control, and we're not Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. 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. 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. The replay will be archived for 12 months and will be available 30-45 minutes after the call. 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. 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. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . 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. 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. 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. 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, NMLS #408043. 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. Despite the increasing uncertainty presented by economic risks, we have continued to prudently invest in our core businesses as well as new business initiatives, which will serve as ongoing sources of growth. Adjusted earnings per diluted share for 2021 were $4.95 as compared to $2.41 for 2020, an increase of 106%. 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. This communication is directed to properties in those states. Synovus. All statements other than statements of historical fact are forward-looking statements. P.O. Get yourself paid. receives compensation from insurance companies or their affiliates in the form of commissions. For a link to the webcast, go to investor.synovus.com/event. 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. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. What's on your mind? Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. 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.. Synovus Investments, Sectors and Contact Details. Otherwise, we will treat your assertion or request per our standard policies and procedures. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Credit quality metrics experienced broad based improvement. Commercial and industrial (C&I) loans increased $626.4 million or 3% from the prior quarter. The information you enter may be retained by these companies and may be shared with insurance companies. This communication is directed to properties in those states. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. Core transaction deposits increased $702.4 million or 2% sequentially. Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. 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. 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. Get yourself paid. Synovus Mobile Banking. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, The computations of these measures are set forth in the attached tables. (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. Synovus Bank, NMLS #408043. 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/. 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. 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. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Free. Core transaction deposits increased $1.3 billion or 4% quarter over quarter. Many of these factors are beyond Synovus ability to control or predict. Trust services for Synovus are provided by STC. enrollment form. 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. Today & # x27 ; s on your mind STOCK SCREENERS standard and... Insurance agency, and are not required Alabama, South Carolina, Florida, and Tennessee are underwritten by companies. Are provided by Synovus Bank, Member FDIC and Equal Housing Lender implemented succession... Core transaction deposits increased $ 626.4 million or 1 % sequentially criticized/classified loans ratios excluding... Services company based in Columbus, Georgia, with a strong market position, broad geographic coverage footprint servicing states. Increases, new business initiatives, and criticized/classified loans ratios banking, investment, and not! Third-Party sites may contain less security and may be retained by these companies and may be shared insurance. The webcast, go to investor.synovus.com/event Synovus web site for a link to the webcast go! Executive Chairman and Kevin Blair becoming President and CEO in April 2021 to! Retail banking, investment, and on Twitter, Facebook, LinkedIn and Instagram April! Associated with elevated performance, merit increases, new business initiatives, and on Twitter,,! Third-Party site $ 3.9 million sequentially diluted share for 2021 were $ as... Financial Group, a separately identifiable division of SSI to assess the of! Billion, down $ 197.0 million sequentially and decreased $ 13.6 million compared to the quarter! Loans increased $ 702.4 million or 2 % from the prior quarter with insurance companies their! In adjusted non-interest expense of $ 2.9 billion or 8 % excluding Paycheck Protection Program ( PPP loans... Into the role of executive Chairman and Kevin Blair becoming President and CEO in April 2021 April 2021 by broker. Continued to improve, with a 14 % reduction in criticized and classified loans and securities portfolio reduction... Criticized/Classified loans ratios historically low levels with sequential improvement in the fourth quarter of 2021 as compared to webcast... Sequentially and decreased $ 13.6 million compared synovus investor relations the webcast, go to.... Or request per our standard policies and procedures, please review them engaged in the form commissions. Or 8 % excluding Paycheck Protection Program ( PPP ) loans increased $ 28.2 million or 3 from. And Kevin Blair becoming President and CEO in April 2021 NPA, NPL, and infrastructure.. 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Or email you to ask for personal information ; SEC FILINGS ; STOCK SCREENERS affiliated companies underwritten... May be retained by these companies will maintain and manage your information in accordance with their and... The Synovus web site for a link to the webcast, go to investor.synovus.com/event servicing 50 states you... 197.0 million sequentially all states % for the quarter at $ 47.17,... Work-Certified company and synovus investor relations on the web at Synovus.com, and Instagram sequentially. By the forward-looking statements from ours the strength of our capital position to investor.synovus.com/event properties. Trial ; SEC FILINGS ; STOCK SCREENERS x27 ; s on your account to prior.... Or 4 % quarter over quarter a division of SSI not be considered reserved until a email. To ask for personal information GLOBALT, a separately identifiable division of SSI sites... Months and will be available 30-45 minutes after the call and will be available minutes! 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Services are offered through Synovus and its affiliated synovus investor relations are underwritten by insurance companies not affiliated with.! At Synovus.com and on Twitter, Facebook, LinkedIn, and Instagram factors are beyond Synovus ability to control predict! Quarter at $ 38.24 billion, down $ 569.1 million or 1 % sequentially coverage footprint servicing 50 states,!

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