synovus investor relations

Synovus Bank, NMLS #408043, is an Equal Housing Lender. 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. Total deposit costs declined 1 basis point from the third quarter to 12 basis points. 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 December 31, 2020, 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. The effective tax rate was 25.6% for the quarter. Quarter-over-quarter and year-over-year declines were primarily related to a $7 million write-down on a minority fintech investment and a challenging mortgage banking environment, partially offset by increases in wealth revenue, capital markets, and card fee income categories. Trust services for Synovus are provided by STC. Get started now with our self-service documents, including the latest migration updates, user guides, and more. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. Preliminary CET1 ratio improved 1 bp during the quarter to 9.75% as strong core performance helped offset the impact of $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%. and South Carolina. Alabama, South Carolina, Florida, and Tennessee. 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/. Jul 21, 2022, 8:30 a.m. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. 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. and South Carolina. inaccuracies. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Trust services for Synovus are provided by STC. 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. 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. Personal Finance Financial Security Home Ownership Let's get to know each other any one time and $250,000 in total per calendar year without paying fees. Reverse Stock Split Follow Up Message from LINK Shareholder Services 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. 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. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. 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 . Period-end deposit growth of $1.7 billion or 4% from the third quarter. Synovus is in the goals business, and we want to know yours. Year-to-date effective tax rate of 22.56% before discrete items. Get yourself paid. 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. Step-by-step guide for your everyday banking tasks. 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. 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. 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,. A recording of the 2022 Investor Day webcast will be available on the Investor Day website following the event. Synovus Bank, NMLS #408043, is an Equal Housing Lender. 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. inaccuracies. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. The replay will be archived for 12 months and will be available 30-45 minutes after the call. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Adjusted pre-provision net revenue is used by management to evaluate pre-tax earnings exclusive of (reversal of) provision for credit losses, which can vary significantly, and other items that management believes are not indicative of ongoing operations and affect period-to-period comparisons. shares of the post-split amount. The information you enter may be retained by these companies and may be shared with insurance companies. 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. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. Banking products are provided by Synovus Bank, Member FDIC. 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. 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. 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. Banking products are provided by Synovus Bank, Member FDIC. 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. and South Carolina. Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. 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/. Operator: Good morning, and welcome to the Synovus Fourth Quarter . Get yourself paid. 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. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. 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. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. ours. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. Preliminary CET1 ratio declined 3 bps during the quarter to 9.46%, and the preliminary total risk-based capital ratio of 12.43% declined 13 bps from the previous quarter as capital generated through earnings helped offset the impact of loan growth. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. Reinvestment and Direct Stock Purchase Plan. 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 computations of these measures are set forth in the attached tables. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Email 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. What's on your mind? Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. In connection with our one-for-seven (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Georgia, with approximately $60 billion in assets. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. Third-party sites may provide less security and may have different privacy policies from 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. 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. 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. 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 increased $2.1 million or 2% compared to third quarter 2021. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Third-party sites may contain less security and may have different privacy policies from ours. The computations of these measures are set forth in the attached tables. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. 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