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. 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. common stock certificates can do so at no charge through AST by calling 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/. and South Carolina. For a link to the webcast, go to investor.synovus.com/event. Net interest income increased $7.4 million or 2% compared to the prior quarter. View your account, purchase and sell shares. Banking products are provided by Synovus Bank, Member FDIC. Strong seasonal inflows supported a $493.0 million increase in public funds compared to the third quarter. I am confident in our ability to guide both our company and clients through the present environment while building an even stronger bank for the future. 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. Adjusted non-interest expense increased $4.1 million, or 1%, sequentially and increased $15.4 million, or 6%, compared to prior year. enrollment form. A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . The computations of these measures are set forth in the attached tables. This communication is directed to properties in those states. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. Actual results may differ materially from those contemplated by such forward-looking statements. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. You can purchase additional shares by investing between a minimum of $50 at Your key to world-class wealth management. Synovus Investments, Sectors and Contact Details. 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. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Get your suppliers paid. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. Drivers of the decline included our strong credit performance, including reduction of NPLs, and quality and mix of new originations, offset by an uncertain and generally negative economic outlook. 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. 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. 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. Net income available to common shareholders for 2021 was $727.3 million or $4.90 per diluted share as compared to $340.5 million or $2.30 per diluted share for 2020. ET. 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%. Synovus is in the goals business, and we want to know yours. The replay will be archived for 12 months and will be available 30-45 minutes after the call. 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. 2023 Synovus Financial Corp. All rights reserved. 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. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. Non-interest revenue decreased $8.1 million, or 8%, sequentially and decreased $9.8 million, or 9%, compared to prior year. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. C&I line utilization remains near historic lows at ~40%. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. 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. 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. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. Non-interest revenue decreased $3.9 million, or 3% sequentially. COLUMBUS, Ga., January 20, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter and year ended December 31, 2021. 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. Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. ET on February 8th, 2022. 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. With a strong market position, broad geographic coverage footprint servicing 50 states . Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. https://www.consumerfinance.gov/mortgage/. 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/. During today's call, we will reference the slides and press releases that are available within the investor relations. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. You are about to leave the Synovus web site for a third-party site. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Total taxable equivalent revenue was $510.3 million in the fourth quarter, up $9.7 million sequentially. 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. February 10, 2023 - 7:30 AM PST. Period-end loans decreased $569.1 million or 1% sequentially. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Any shareholders which still need to redeem their 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. Revenue growth in the quarter was largely driven by an $8 million increase in net interest income resulting from earning asset growth. 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. 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. Total revenue, excluding Paycheck Protection program (PPP) fees, of $519.0 million increased $50.4 million, or 11%, compared to prior year. Notifications. https://www.consumerfinance.gov/mortgage/. Purchase additional shares by investing between a minimum of $ 50 at Your to! Income and unfavorable change in discrete items products are provided by synovus Bank, NMLS # 408043, is Equal! Your assertion or request per our standard policies and procedures $ 7.4 million or 2 % compared to webcast... 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