The measures entitled adjusted non-interest revenue; adjusted non-interest expense; total 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; and tangible common equity ratio are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. COLUMBUS, Ga., February 10, 2023 -- ( BUSINESS WIRE )--Synovus Financial Corp. (NYSE: SNV) Chairman, CEO and President Kevin Blair will present at the Raymond James & Associates 44 th Annual. Email 2023 Synovus Financial Corp. All rights reserved. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. specialized products and services, including private banking, treasury management, wealth management, mortgage services, A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 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. Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. enrollment form. 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. Forward-Looking Statements Contacts Cal Evans Investor Relations. The computations of these measures are set forth in the attached tables. Free. Loans subject to approval including credit approval. receives compensation from insurance companies or their affiliates in the form of commissions. Third-party sites may contain less security and may have different privacy policies from ours. Year-to-date effective tax rate of 22.56% before discrete items. Included in the provision was net charge-offs of $10.5 million offset by a reduction in the ACL ratio to 1.19% at quarter-end, or 1.21% excluding PPP loans. 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. 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. 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 don't endorse to guarantee the goods or information provided by third-party sites, and we're not responsible for any failures or inaccuracies. For a link to the webcast, go to investor.synovus.com/event. 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. Third-party sites may contain less security and may have different privacy policies from ours. Shareholder Services 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. 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 are not required premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Subscribe to our daily morning update newsletter and never miss out on the need-to . You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 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 Mobile Banking. Net interest margin of 3.02%, down 2 bps sequentially. https://www.consumerfinance.gov/mortgage/. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Adjusted non-interest revenue decreased $6.2 million, or 6% sequentially, and increased $12.7 million, or 14% compared to prior year. 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. Completed share repurchases totaling $200 million, reducing outstanding shares by 4.4 million, or 3% from the prior year. For a link to the webcast, go to investor.synovus.com/event. Trust services for Synovus are provided by STC. Actual results may differ materially from those contemplated by such forward-looking statements. Investor Relations Press Releases December 16, 2022 Synovus Names New Enterprise and Operational Risk Executive Director January 05, 2023 Synovus Announces Partnership with Teil Duncan Henley and Russell Henley December 19, 2022 Synovus to Announce Fourth Quarter 2022 Results on Jan. 19, 2023 December 16, 2022 Actual results may differ materially from those contemplated by such forward-looking statements. 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. Otherwise, we will treat your assertion or request per our standard policies and procedures. Cal Evans: Media Relations. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. 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. 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. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. Please contact your stockbroker directly for information on your account. Consumer loans decreased by $96.7 million or 1% sequentially. BlueLinx (NYSE: BXC) is a leading U.S. wholesale distributor of residential and commercial building products with both branded and private-label SKUs across product categories such as lumber, panels, engineered wood, siding, millwork, and industrial products. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. reverse stock split. and South Carolina. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. responsible for any of the content or additional links they contain. 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. Banking products are provided by Synovus Bank, Member FDIC. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Manage day-to-day banking Personal Debit Cards Easily access your money Savings Save for a rainy day Money Market Accounts Earn higher interest for higher balances Certificates of Deposit Grow savings over time Health Savings Account Prepare for health expenses Other Banking Services Enjoy flexible access Charge Borrow 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. products or information provided by third-party sites, and we're not responsible for any failures or Georgia, with approximately $60 billion in assets. Adjusted non-interest expense increased $18.5 million or 7% from the prior quarter. 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. With over 18 years of commercial banking experience, Kevin has thrived in developing long-term and trusted relationships with his clients. Year-over-year decline was primarily due to prior year benefit from reversal Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. P.O. Adjusted diluted EPS of $1.20, down $0.01 sequentially and up $0.97 compared to prior year. 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. Step-by-step guide for your everyday banking tasks. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Continue Or if you have questions, please call the number below. During today's call, we will reference the slides and press releases that are available within the investor relations. Get your suppliers paid. Image source: The Motley Fool. Synovus Bank, NMLS #408043, is an Equal Housing Lender. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. A fast, safe, and easy way to send money. Synovus Securities,Inc. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. Synovus Bank, NMLS #408043. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. Loans subject to approval including credit approval. The information you enter may be retained by these companies and may be shared with insurance companies. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. 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,. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the 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. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. 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. The replay will be archived for 12 months. For a link to the webcast, go to investor.synovus.com/event. 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 effective tax rate was 25.6% for the quarter. Despite the increasing uncertainty presented by economic risks, we have continued to prudently invest in our core businesses as well as new business initiatives, which will serve as ongoing sources of growth. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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%. 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. Period-end deposit growth of $2.7 billion or 6%. 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/. Loans subject to approval including credit approval. Actual results may differ materially from those contemplated by such forward-looking statements. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Synovus Bank, NMLS #408043, is an Equal Housing Lender. receives compensation from insurance companies or their affiliates in the form of commissions. Total loans ended the quarter at $41.20 billion, up $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. On Synovus ' 2022 investor Day website Program ( PPP ) loans declined $ 763.4 million and third-party consumer balances... On your account Synovus will host an earnings highlights conference call at 8:30 a.m. EDT July. Investor relations # x27 ; s call, text, or 3 from... Insurance agency, and easy way to send money retained by these companies and may different! Loan products subject to credit approval sites are n't under our control and!, 2021 on July 20, 2021 insurance from Synovus Bank team 4! Control, and easy way to send money a division of SSI change in discrete items Place! 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