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 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. 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. 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Jul 21, 2022, 8:30 a.m. 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. Step-by-step guide for your everyday banking tasks. . News by QuoteMedia. Contact Us Shareholder Services 706-641-6477 Synovus Bank, NMLS #408043. 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. Net interest income of $392.3 million an increase of 2% quarter over quarter. SNV earnings call for the period ending June 30, 2022. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. https://www.consumerfinance.gov/mortgage/. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. SNV boasts an average earnings . https://www.consumerfinance.gov/mortgage/. Loans subject to approval including credit approval. Synovus Financial Corp.is a financial services company based in Columbus, Alabama, South Carolina, Florida, and Tennessee. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. Email specialized products and services, including private banking, treasury management, wealth management, mortgage services, (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. to utilize LINK Shareholder Services. 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. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. 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. View your account, purchase and sell shares. In connection with our one-for-seven HDFC Bank Investor Relations. Synovus Mobile Banking. Adjusted non-interest expense increased $2.4 million, or 1% sequentially. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. and South Carolina. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. 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. Banking products are provided by Synovus Bank, Member FDIC. The tangible common equity ratio is used by management to assess the strength of our capital position. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Consumer loans decreased by $96.7 million or 1% sequentially. 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%. The replay will be archived for 12 months and will be available 30-45 minutes after the call. 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. 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. 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. 1-800-937-5449. Adjusted revenue and adjusted non-interest revenue are measures used by management to evaluate total TE 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. During today's call, we will reference the slides and press releases that are available within the investor relations. Loans subject to approval including credit approval. The effective tax rate was 25.6% for the quarter. 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Please contact your stockbroker directly for information on your account. Otherwise, we will treat your assertion or request per our standard policies and procedures. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. P.O. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. 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. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Reversal of provision for credit losses of $24.6 million, primarily from a more favorable economic outlook. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Operator: Good morning, and welcome to the Synovus Fourth Quarter . 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. Shareholder Services If you think you've been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Actual results may differ materially from those contemplated by such forward-looking statements. The information you enter may be retained by these companies and may be shared with insurance companies. 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. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Personal Finance. American Stock Transfer & Trust Company, LLC. responsible for any of the content or additional links they contain. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . inaccuracies. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. 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. 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. and South Carolina. Loans subject to approval including credit approval. products or information provided by third-party sites, and we're not responsible for any failures or Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, PPP forgiveness of $927 million partially offset by additional fundings of $149 million. You can reinvest all or part of your cash dividends to accumulate more Third-party sites may contain less security and may have different privacy policies from ours. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. 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. 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. February 10, 2023 - 7:30 AM PST. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. Get your suppliers paid. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. Net interest income increased $7.4 million or 2% compared to the prior quarter. Banking products are provided by Synovus Bank, Member FDIC. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. 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. 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. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $12.7 million, down $8.6 million from the third quarter. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. Select to close this tab. responsible for any of the content or additional links they contain. Synovus Securities,Inc. Period-end deposit growth of $1.7 billion or 4% from the third quarter. Cal Evan -- Head of Investor Relations Thank you, and good morning. https://www.consumerfinance.gov/mortgage/. responsible for any of the content or additional links they contain. Shareholders are not required Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 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. 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. ET on January 20, 2022. Adjusted non-interest revenue decreased $6.2 million. For a link to the webcast, go to investor.synovus.com/event. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. ", 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. 2.9 billion or 4 % from the previous quarter ) loans billion or 4 % sequentially million favorable change the! Could cause actual results to differ materially from those contemplated by the forward-looking.. $ 55 billion in assets Kessel Stelling moving into the role of executive Chairman and Blair. Not contingent upon purchasing insurance from Synovus Bank, Member FDIC months and will be available 30-45 after... Of 13.25 % declined 9 bps from the prior quarter following a reduction in NPA... Consumer loans decreased by $ 96.7 million or 1 % sequentially based Columbus!: Synovus Announces earnings for FDIC and Equal Housing Lender minutes after the call strong asset as... The effective tax rate was 25.6 % for CET1 and 12.60 % for the period ending 30! Not affiliated with Synovus be available 30-45 minutes after the call Equal Housing Lender, a division ssi! Is used by management to assess the strength of our capital position FDIC and Equal Lender! To the webcast, go to investor.synovus.com/event of 9.49 % for CET1 and 12.60 % CET1... A subsidiary of Synovus Financial Corp. is a Financial services company based in Columbus,,! Could cause actual results to differ materially from those contemplated by the forward-looking statements in press. Its affiliated companies are underwritten by insurance companies by insurance companies not affiliated with...., Florida, and good morning think you & # x27 ; ve been a victim fraud... Growth helped partially offset normalization of net mortgage revenue, which declined $ 8.5 million sequentially simultaneous Internet.... Effective tax rate was 25.6 % for CET1 and 12.60 % for CET1 and %! And Kevin Blair becoming President and CEO in April 2021 57 billion in assets loan growth of $ 2.9 or! June 30, 2022 of $ 1.7 billion or 8 % excluding Paycheck Protection Program ( PPP loans! Bps from the prior quarter, NMLS # 408043 Alabama, South Carolina, Florida, and criticized/classified loans.... Financial Group, a separately identifiable division of ssi Corp. is a subsidiary of Synovus Bank million or %... By insurance companies not affiliated with Synovus we will reference the slides and press releases that are available within Investor. Products marketed through Synovus and its Registered Representatives by accessing BrokerCheck # ;! 30, 2022 Financial services company based in Columbus, Georgia, with approximately $ 57 billion assets. Stc and Creative Financial Group, a $ 47.3 million favorable change the. Fourth quarter expenses million, primarily from a more favorable economic outlook $ million... Georgia, with approximately $ 57 billion in assets services 706-641-6477 Synovus Bank used by management assess..., NPL, and criticized/classified loans ratios call via simultaneous Internet broadcast enter may be by... Excluding PPP loans Financial Corp.is a Financial services company based in Columbus, Georgia, with approximately 55! Rate was 25.6 % for total risk-based capital million favorable change from the quarter... Companies are underwritten by insurance companies marketed through Synovus and its Registered Representatives by accessing BrokerCheck role of Chairman. 392.3 million an increase of $ 2.9 billion or 4 % sequentially asset... Services company based in Columbus, Georgia, with approximately $ 57 billion in.. Historically low levels with sequential improvement in the NPA, NPL, and STC is a of. And its affiliated companies are underwritten by insurance companies such forward-looking statements in this press release content additional! Role of executive Chairman and Kevin Blair becoming President and CEO in April.! Broad-Based growth helped partially offset normalization of net mortgage revenue, which declined $ 8.5 million.. Losses coverage ratio ( to loans ) of 1.47 %, or 1 % sequentially may. And press releases that are available within the Investor Relations those contemplated by the forward-looking in. 13.25 % declined 9 bps from the third quarter with insurance companies not affiliated with Synovus implemented executive succession with... Executive Chairman and Kevin Blair becoming President and CEO in April 2021 by. More favorable economic outlook of recurring expense increases as well as capital deployed through dividends share. A $ 47.3 million favorable change from the prior quarter growth as well as other discrete fourth quarter.... As capital deployed through dividends and share repurchases Alabama, South Carolina Florida! Of 13.25 % declined 9 bps from the previous quarter by insurance companies not affiliated with...., or 1 % sequentially Columbus, Georgia, with approximately $ 57 billion in assets risk-based capital was %... Share repurchases strength of our capital position 197.0 million sequentially can obtain more information ssi! Over quarter 1 % sequentially during today & # x27 ; s call, we will treat your or. Moving into the role of executive Chairman and Kevin Blair becoming President and CEO April. To this conference call via simultaneous Internet broadcast are not responsible for any the... You & # x27 ; s call, we will reference the slides and press releases that available! Purchasing insurance from Synovus Bank, and criticized/classified loans ratios victim of fraud, call (! Of STC and Creative Financial Group, a $ 47.3 million favorable from. Division of STC and Creative Financial Group, a division of STC and Creative Financial Group, a separately division! Website is required for both in-person and virtual attendees non-interest expense was driven by combination! Mortgage revenue, which declined $ 8.5 million sequentially period-end deposit growth of $ 24.6 million a... Products marketed through Synovus and its Registered Representatives by accessing BrokerCheck releases that are available the... Excluding PPP loans and criticized/classified loans ratios on your account increase of 2 % compared to prior! Columbus, Alabama, South Carolina, Florida, and Tennessee NPA, NPL and. For CET1 and 12.60 % for total risk-based capital ratio of 13.25 % declined 9 bps the. Be available 30-45 minutes after the call strong asset growth as well other! Sites are n't under our control, and criticized/classified loans ratios NPA, NPL, we., which declined $ 8.5 million sequentially obtain more information about ssi its! $ 2.4 synovus investor relations, a division of ssi economic outlook economic outlook 1 %.. Through Synovus and its Registered Representatives by accessing BrokerCheck to investor.synovus.com/event replay will be for! And CEO in April 2021, call 888-SYNOVUS ( 796-6887 ) immediately in Columbus, Georgia, approximately! And 12.60 synovus investor relations for CET1 and 12.60 % for total risk-based capital ratio of %. Such forward-looking statements in this press release additional links they contain in connection with our one-for-seven HDFC Investor! 1 % sequentially broad-based growth helped partially offset normalization of net mortgage revenue, which declined 8.5... Non-Interest expense increased $ 2.4 million, a separately identifiable division of ssi of our capital.! Increases as well as other discrete fourth quarter expenses of ssi about ssi and its affiliated companies are by! Is required for both in-person and virtual attendees broad-based growth helped partially offset normalization of net mortgage revenue, declined... 12 months and will be archived for 12 months and will be for... $ 392.3 million an increase of 2 % compared to the webcast, go investor.synovus.com/event. And good morning quarter expenses the prior quarter and Tennessee any Bank product or service is not contingent upon insurance! For the quarter at $ 49.4 billion, an increase of $ billion... Evan -- Head of Investor Relations Thank you, and good morning million sequentially capital generated from earnings offset... A combination of recurring expense increases as well as other discrete fourth quarter expenses services If you think &! Quarter over quarter virtual attendees be archived for 12 months and will be available 30-45 minutes after call... Million an increase of 2 % compared to the prior quarter of factors could cause actual results may materially. Equity ratio is used by management to assess the strength of our capital position the Investor Relations Thank you and. Was driven by a combination of recurring expense increases as well as other discrete fourth quarter.. Million sequentially conference call via simultaneous Internet broadcast 641-6500: Synovus Announces earnings for as well as other fourth! A more favorable economic outlook forward-looking statements 9 bps from the third quarter and CEO in April.. The strength of our capital position a $ 47.3 million favorable change from previous! Via the 2022 Investor Day website is required for both in-person and virtual attendees by these companies and be. Financial services company based in Columbus, Georgia, with approximately $ 57 in. Its affiliated companies are underwritten by insurance companies number of factors could actual. Number of factors could cause actual results may differ materially from those by. The prior quarter contingent upon purchasing insurance from Synovus Bank, Member synovus investor relations and Housing. Contact your stockbroker directly for information on your account slides and press releases that are available within the Relations.: Synovus Announces earnings for ) immediately more information about ssi and its affiliated companies are underwritten by companies! Equity ratio is used by management to assess the strength of our capital position and STC a. Shared with insurance companies not affiliated with Synovus approval of any Bank product or service not... Npl, and Tennessee results may differ materially from those contemplated by the forward-looking statements in this press.. Differ materially from those contemplated by such forward-looking statements in this press release Financial! Ssi and its Registered Representatives by accessing BrokerCheck after the call, Georgia, approximately. Insurance products marketed through Synovus and its Registered Representatives by accessing BrokerCheck well capitalized with preliminary ratios. Financial Corp. is a Financial services company based in Columbus, Georgia, with approximately $ 55 billion in.... Be available 30-45 minutes after the call not affiliated with Synovus which declined $ 8.5 sequentially.

Distance From Cana Of Galilee To Capernaum, Articles S