Synovus is in the goals business, and we want to know yours. Year-over-year decline was primarily due to prior year benefit from reversal Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. 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. Otherwise, we will treat your assertion or request per our standard policies and procedures. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. Synovus Bank, NMLS #408043. You can purchase additional shares by investing between a minimum of $50 at Core transaction deposits (non-interest bearing, interest bearing demand, NOW/savings, and money market deposits excluding public and brokered funds) increased $5.1 billion or 16%. Loans subject to approval including credit approval. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. reverse stock split which became effective May 16, 2014, shareholders with certificated A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Or if you have questions, please call the number below. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over 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. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Third-party sites may contain less security and may have different privacy policies from ours. Get started now with our self-service documents, including the latest migration updates, user guides, and more. American Stock Transfer & Trust Company, LLC. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. 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. P.O. Notifications. Location. Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. Blake Robbins - Synovus Mortgage in Decatur, reviews by real people. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. ours. enrollment form. pre-split Synovus shares for post-split Synovus shares. 2023 Synovus Financial Corp. All rights reserved. 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. For a link to the webcast, go to investor.synovus.com/event. 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. Jul 21, 2022, 8:30 a.m. 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. receives compensation from insurance companies or their affiliates in the form of commissions. Shareholders are not required You are about to leave the Synovus web site for a third-party site. Consumer loans decreased by $96.7 million or 1% sequentially. shares without paying fees. https://www.consumerfinance.gov/mortgage/. 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. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . Step-by-step guide for your everyday banking tasks. Continue Or if you have questions, please call the number below. Commercial real estate (CRE) loans increased by $441.2 million or 4% from the prior quarter as pay-off and pay-down activity normalized. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. Synovus Bank, NMLS #408043, is an Equal Housing Lender. responsible for any of the content or additional links they contain. https://www.consumerfinance.gov/mortgage/. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . 706-641-6477 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. 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. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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. Processed and approved $1.0 billion in Round 2 PPP loans, supporting approximately 11,000 customers. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. View your account, purchase and sell shares. 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. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. The replay will be archived for 12 months and will be available 30-45 minutes after the call. and South Carolina. 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005070/en/ CONTACT: Media Contact Audria Belton Media Relations media@synovus.comInvestor Contact Cal Evans Investor Relations 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 is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. All statements other than statements of historical fact are forward-looking statements. Many of these factors are beyond Synovus ability to control or predict. 2023 Synovus Financial Corp. All rights reserved. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. 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. Loans subject to approval including credit approval. Box 120, Columbus, GA 31902. 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. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . Select to close this tab. 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.. Trust services for Synovus are provided by STC. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. Or if you have questions, please call the number below. 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. Core transaction deposits increased $1.3 billion or 4% quarter over quarter. 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 will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. 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. Net interest margin was 3.22%, up 22 bps sequentially, aided by higher interest rates, lower cash balances, and slower deposit repricing. 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Credit quality metrics experienced broad based improvement. Actual results may differ materially from those contemplated by such forward-looking statements. Non-interest expense increased $3.4 million, or 1% sequentially. Trust services for Synovus are provided by STC. Otherwise, we will treat your assertion or request per our standard policies and procedures. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. Synovus Financial Corp., formerly the Columbus Bank and Trust Company, is a financial services company with approximately $45 billion in assets based in Columbus, Georgia. Email Third-party sites aren't under our control, and we're not 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. 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. Loans subject to approval including credit approval. Investor Type Synovus provides commercial and retail banking, investment, and mortgage services through 285 branches in Alabama, Florida, Georgia, South Carolina, and Tennessee. Select to close this tab, Financial Security. Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will present at the Raymond James & Associates 44 th Annual Institutional Investors Conference on March 7, 2023, at. 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. Second consecutive quarter of record commercial loan production. Adjusted non-interest revenue decreased $6.2 million. The tangible common equity ratio is used by management to assess the strength of our capital position. 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. Or if you have questions, please call the number below. 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. Many of these factors are beyond Synovus ability to control or predict. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 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