Alabama, South Carolina, Florida, and Tennessee. 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. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; total adjusted revenue; adjusted tangible efficiency ratio; adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; and tangible common equity ratio are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. 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. 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. 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. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. ET on January 20, 2022. Adjusted non-interest revenue decreased $6.2 million, or 6% sequentially, and increased $12.7 million, or 14% compared to prior year. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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 Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. Synovus. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . 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. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. 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. 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. Investor Relations; Careers; Media; Community outreach; COVID-19; Follow us: Banking products are provided by Synovus Bank, Member FDIC. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. 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. Non-interest revenue decreased $3.9 million, or 3% sequentially. For a link to the webcast, go to investor.synovus.com/event. 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. 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. You are about to leave the Synovus web site for a third-party site. The effective tax rate was 25.6% for the quarter. Select to close this tab, Financial Security. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. 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. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . Synovus Bank, NMLS #408043, is an Equal Housing Lender. Get your suppliers paid. Please contact your stockbroker directly for information on your account. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. 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.. 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. Second consecutive quarter of record commercial loan production. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. https://www.consumerfinance.gov/mortgage/, Net income available to common shareholders, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. 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. HDFC Bank Investor Relations. Investor Relations investorrelations@synovus.com Synovus Financial Corp. NYSE:SNV Release Summary Synovus Chairman, CEO and President Kevin Blair will participate at the BofA Securities. Consumer loans decreased by $96.7 million or 1% sequentially. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. inaccuracies. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Synovus Securities,Inc. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. ours. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, responsible for any of the content or additional links they contain. reverse stock split which became effective May 16, 2014, shareholders with certificated Trust services for Synovus are provided by STC. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. 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. 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 information you enter may be retained by these companies and may be shared with insurance companies. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. Synovus will host an earnings highlights conference call at 8:30 a.m. Many of these factors are beyond Synovus ability to control or predict. 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. Streetholders (shares held by your broker) receives compensation from insurance companies or their affiliates in the form of commissions. 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%. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. 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. 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 is in the goals business, and we want to know yours. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Third-party sites may contain less security and may have different privacy policies from ours. Step-by-step guide for your everyday banking tasks. Trust services for Synovus are provided by STC. Year-to-date effective tax rate of 22.56% before discrete items. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. 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. 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 Strong seasonal inflows supported a $493.0 million increase in public funds compared to the third quarter. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. February 10, 2023 - 7:30 AM PST. The earnings call will be accompanied by a slide presentation. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . 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. Reinvestment and Direct Stock Purchase Plan. ET. 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. Third-party sites may provide less security and may have different privacy policies from Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. 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. Whether your financial aspirations are personal or for your business, we can help you reach them. Synovus Investments, Sectors and Contact Details. Get yourself paid. Synovus Bank, NMLS #408043. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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,. Reverse Stock Split Follow Up Message from LINK Shareholder Services Loans subject to approval including credit approval. Synovus provides commercial and retail banking, investment, and mortgage services through 285 branches in Alabama, Florida, Georgia, South Carolina, and Tennessee. Share this article: Stay In The Know. Adjusted non-interest revenue decreased $6.2 million. 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 common stock certificates can do so at no charge through AST by calling Offers an Optional Service Synovus Bank, NMLS #408043, is an Equal Housing Lender. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. 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. What's on your mind? 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