synovus investor relations

https://www.consumerfinance.gov/mortgage/. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. 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. reverse stock split. CRE loans declined $172.9 million as the recovery in commercial real estate continues. 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. and South Carolina. Otherwise, we will treat your assertion or request per our standard policies and procedures. Otherwise, we will treat your assertion or request per our standard policies and procedures. Third-party sites aren't under our control, and we're not 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Investor Contact: Alison Dowe. 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. Actual results may differ materially from those contemplated by such forward-looking statements. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the 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. Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. 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,. . The computations of these measures are set forth in the attached tables. Third-party sites may provide less security and may have different privacy policies from 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. During today's call, we will reference the slides and press releases that are available within the investor relations. 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 to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. The replay will be archived for 12 months. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. Reinvestment and Direct Stock Purchase Plan. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . Actual results may differ materially from those contemplated by such forward-looking statements. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. 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. and South Carolina. Cal Evan -- Head of Investor Relations Thank you, and good morning. 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/. Non-interest revenue decreased $3.9 million, or 3% sequentially. Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. 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. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. 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 in the goals business, and we want to know yours. Investor Type Synovus Securities,Inc. Synovus Bank, NMLS #408043. reverse stock split which became effective May 16, 2014, shareholders with certificated Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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%. ours. This communication is directed to properties in those states. If you think you've been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Net interest margin of 3.02%, down 2 bps sequentially. inaccuracies. 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 Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. Credit quality metrics remain relatively stable, near historical lows. 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. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. You are about to leave the Synovus web site for a third-party site. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. This communication is directed to properties in those states. Box 120, Columbus, GA 31902. products or information provided by third-party sites, and we're not responsible for any failures or 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. https://www.consumerfinance.gov/mortgage/. Otherwise, we will treat your assertion or request per our standard policies and procedures. This communication is directed to properties in those states. Offers an Optional Service receives compensation from insurance companies or their affiliates in the form of commissions. Synovus Bank, NMLS #408043. Commercial and industrial (C&I) loans increased $626.4 million or 3% from the prior quarter. Email 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. Momentum as we enter 2022 is strong; coupled with the strategic investments we are making in talent and technology, we are extremely well-positioned to deliver outsized growth this year and in years to come., (Reversal of) provision for credit losses, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. The replay will be archived for 12 months and will be available 30-45 minutes after the call. 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. Jul 21, 2022, 8:30 a.m. 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. Non-interest expense increased $28.2 million or 11% sequentially. 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. The credit outlook continued to improve, with a 14% reduction in criticized and classified loans and another quarter of reserve release. Many of these factors are beyond Synovus ability to control or predict. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. ET. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. Third-party sites may provide less security and may have different privacy policies from Net interest margin was 3.02%, down 2 bps 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. Continued growth in wealth revenue and one-time $8 million BOLI benefit offset declines in mortgage revenue. 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. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. and South Carolina. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. SNV earnings call for the period ending June 30, 2022. 1-800-937-5449. Synovus Financial Corp. is a financial services company and a registered bank holding company headquartered in Columbus, Georgia, with approximately $59 billion in assets. 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. The earnings call will be accompanied by a slide presentation. Adjusted earnings per diluted share for 2021 were $4.95 as compared to $2.41 for 2020, an increase of 106%. Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year. "We are pleased with our second quarter results and financial metrics, which reflect the efforts of our team to expand client relationships and attract new business," said Synovus President and CEO Kevin Blair. Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will present at the Raymond James & Associates 44 th Annual Institutional Investors Conference on March 7, 2023, at. 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. Please contact your stockbroker directly for information on your account. 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. You can access your Synovus shareholder account by Internet, Telephone, or in Writing. enrollment form. Banking products are provided by Synovus Bank, Member FDIC. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus operating results, financial strength, the performance of its business, and the strength of its capital position. Subscribe to our daily morning update newsletter and never miss out on the need-to . The earnings call will be accompanied by a slide presentation. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. Key metrics include a quarter-end non-performing loan ratio of 0.33%, non-performing asset ratio of 0.40% and a quarterly net charge-off ratio of 0.11%. 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. of provision for credit losses. Share this article: Stay In The Know. Synovus Bank, NMLS #408043, is an Equal Housing Lender. ET. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. You are about to leave the Synovus web site for a third-party site. Net interest income increased $7.4 million or 2% compared to the prior quarter. Consumer loans decreased by $96.7 million or 1% sequentially. A recording of the 2022 Investor Day webcast will be available on the Investor Day website following the 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. Third-party sites may contain less security and may have different privacy policies from ours. Period-end deposit growth of $1.7 billion or 4% from the third quarter. Reverse Stock Split Follow Up Message from LINK Shareholder Services Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, P.O. 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. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. Commercial and industrial (C&I) loans increased $426.0 million sequentially, led by broad based growth within our Wholesale Banking segment, partially offset by declines in PPP loan balances of $116.2 million. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. Loans subject to approval including credit approval. 2023 Synovus Financial Corp. All rights reserved. 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 . 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. 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. Trust services for Synovus are provided by STC. inaccuracies. Net interest margin was 2.96%, down 5 basis points from the previous quarter. Our Synovus team delivered solid financial performance in the second quarter while continuing to position the company for long-term success, said Kevin Blair, Synovus President and CEO. Banking products are provided by Synovus Bank, Member FDIC. 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. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Trust services for Synovus are provided by STC. 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. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 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 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 Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. Free. 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. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. The tangible common equity ratio is used by management to assess the strength of our capital position. 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. Third-party sites may contain less security and may have different privacy policies from ours. Adjusted non-interest revenue decreased $6.2 million, or 6% sequentially, and increased $12.7 million, or 14% compared to prior year. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. 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. 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. 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. Shareholders who have not responded to the previous mailing Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. inaccuracies. Trust services for Synovus are provided by STC. 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. Personal Finance. 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. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. Reverse Stock Split Follow Up Message from LINK Shareholder Services Actual results may differ materially from those contemplated by such forward-looking statements. ET on January 20, 2022. 2023 Synovus Financial Corp. All rights reserved. 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 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. Forward-Looking Statements ", Net income available to common shareholders, Provision for (reversal of) credit losses, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. 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. As well as capital deployed through dividends and share repurchases statements in this press release wealth revenue and $. More information about SSI and its Registered Representatives by accessing BrokerCheck 641-6500: Synovus Announces earnings for at $ billion. Growth in wealth revenue and one-time $ 8 million BOLI benefit offset declines in mortgage revenue of SSI those.! 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