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. Contact Us Shareholder Services 706-641-6477 Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. 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. 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. 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. www.quotemedia.com. Streetholders (shares held by your broker) 2023 Synovus Financial Corp. All rights reserved. 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. receives compensation from insurance companies or their affiliates in the form of commissions. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. inaccuracies. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. P.O. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. PPP forgiveness of $927 million partially offset by additional fundings of $149 million. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. Synovus Bank, NMLS #408043, is an Equal Housing Lender. United States. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. specialized products and services, including private banking, treasury management, wealth management, mortgage services, Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Adjusted non-interest expense increased $18.5 million or 7% from the prior 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. "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. Adjusted non-interest revenue decreased $6.2 million. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. COLUMBUS, GA, December 17, 2021 Synovus Financial Corp. (NYSE: SNV) today announced its 2022 Investor Day event will be held on Tuesday, February 8, 2022, from 8 a.m. to 12 p.m. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. Trust services for Synovus are provided by STC. 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. Investment Stage. 404-364-2739. kevinsuchecki@synovus.com. Alabama, South Carolina, Florida, and Tennessee. Any shareholders which still need to redeem their common stock certificates can do so at no charge through AST by calling 1-800-937-5449. Revenue growth in the quarter was largely driven by an $8 million increase in net interest income resulting from earning asset growth. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Continue Or if you have questions, please call the number below. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. This communication is directed to properties in those states. Driven by record levels of loan production, continued growth in our fee income businesses and disciplined expense management, we generated 6% growth in adjusted pre-provision net revenue in 2021. 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. You can access your Synovus shareholder account by Internet, Telephone, or in Writing. Reverse Stock Split Follow Up Message from LINK Shareholder Services Share this article: Stay In The Know. Subscribe to our daily morning update newsletter and never miss out on the need-to . 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. shares of the post-split amount. Credit quality ratios remain near historical lows. 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. Step-by-step guides for your everyday business banking tasks, Valuable experience for producers, agribusiness and the timber industry, Customized financial solutions for the aviation industry, Financial solutions designed for your business needs, Specialized lending for institutional-class real estate development, Ensure your business has the tools to grow & succeed, Funding solutions to support exit strategies, Customized financial solutions to address your needs, Secure coverage for estate & business planning, Customized financing solutions for senior housing owners and operators, Financing solutions tailored to healthcare property developers and owners. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. Synovus is in the goals business, and we want to know yours. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Free. 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. Box 120, Columbus, GA 31902. Loans subject to approval including credit approval. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. 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. 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. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. The replay will be archived for 12 months and will be available 30-45 minutes after the call. initial investment of at least $250. View source version on businesswire.com:. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange 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. Adjusted diluted EPS of $1.17, up $0.09 sequentially and down $0.03 compared to prior year. Otherwise, we will treat your assertion or request per our standard policies and procedures. You can reinvest all or part of your cash dividends to accumulate more Image source: The Motley Fool. The effective tax rate was 21.88% for the quarter. 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. 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. What's on your mind? Non-interest revenue decreased $8.1 million, or 8%, sequentially and decreased $9.8 million, or 9%, compared to prior year. A recording of the 2022 Investor Day webcast will be available on the Investor Day website following the event. Synovus Bank, NMLS #408043. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. 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. Banking products are provided by Synovus Bank, Member FDIC. Period-end loan growth of $1.4 billion or 4% quarter over quarter, excluding the reduction in PPP loans. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. 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. Loans subject to approval including credit approval. Many of these factors are beyond Synovus ability to control or predict. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Synovus Bank, NMLS #408043. 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. Banking products are provided by Synovus Bank, Member FDIC. 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 Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 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. Personal Finance. PPP loans declined $382.6 million quarter over quarter. The computations of these measures are set forth in the attached tables. 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. 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. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. For a link to the webcast, go to investor.synovus.com/event. 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. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Otherwise, we will treat your assertion or request per our standard policies and procedures. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. For a link to the webcast, go to investor.synovus.com/event. You are about to leave the Synovus web site for a third-party site. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; 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; tangible common equity ratio; and adjusted pre-provision net revenue are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. Loans subject to approval including credit approval. 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. You are about to leave the Synovus web site for a third-party site. Synovus provides commercial and retail banking and a full suite of ET. Year-over-year decline was primarily due to prior year benefit from reversal receives compensation from insurance companies or their affiliates in the form of commissions. 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 Net interest income of $425.4 million was up $33.1 million sequentially and increased $43.5 million, or 11%, compared to prior year, driven by strong loan growth and higher rates. Or if you have questions, please call the number below. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Otherwise, we will treat your assertion or request per our standard policies and procedures. You are about to leave the Synovus web site for a third-party site. SNV boasts an average earnings . Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Otherwise, we will treat your assertion or request per our standard policies and procedures. Shareholders are not required Offers an Optional Service Registered Owners (shares held by you) Third-party sites may provide less security and may have different privacy policies from 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. 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. ours. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. Parties may listen to this conference call via simultaneous Internet broadcast live webcast and replay will be available minutes! Synovus.Com and on Twitter, Facebook, LinkedIn and Instagram in net interest income resulting from asset! To Work-Certified Company and is on the Investor Day website following the event request per our standard and... May listen to this conference call via simultaneous Internet broadcast companies are underwritten by insurance companies affiliated! 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