Synovus Securities,Inc. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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/. Get yourself paid. pre-split Synovus shares for post-split Synovus shares. For a link to the webcast, go to investor.synovus.com/event. 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. reverse stock split. Third-party sites may contain less security and may have different privacy policies from ours. The replay will be archived for 12 months and will be available 30-45 minutes after the call. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total TE revenue; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and income before income taxes, respectively. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. COLUMBUS, Ga., July21, 2022 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June30, 2022. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. and South Carolina. ET on January 20, 2022. and South Carolina. 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. Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). Email The tangible common equity ratio is used by management to assess the strength of our capital position. 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. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. 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. C&I line utilization remains near historic lows at ~40%. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. and South Carolina. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. 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. responsible for any of the content or additional links they contain. Third-party sites may contain less security and may have different privacy policies from ours. 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. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, Reverse Stock Split Follow Up Message from LINK Shareholder Services Synovus will host an Investor Day presentation at 8:00 a.m. any one time and $250,000 in total per calendar year without paying fees. 2023 Synovus Financial Corp. All rights reserved. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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/. Synovus Investments, Sectors and Contact Details. We don't endorse or gaurantee the Synovus Bank, NMLS #408043, is an Equal Housing Lender. www.quotemedia.com. Total deposit costs declined 1 basis point from the third quarter to 12 basis points. 2021 was another challenging year, but our teams were able to navigate the uncertain environment to support our clients, contribute to our communities and deliver for our shareholders. Trust services for Synovus are provided by STC. Adjusted earnings per diluted share for 2021 were $4.95 as compared to $2.41 for 2020, an increase of 106%. Forward-Looking Statements Loans subject to approval including credit approval. 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 are based on the information known to, and current beliefs and expectations of, Synovus management and are subject to significant risks and uncertainties. Second consecutive quarter of record commercial loan production. Banking products are provided by Synovus Bank, Member FDIC. Offers an Optional Service Third-party sites aren't under our control, and we're not 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. The most comparable GAAP measures to these measures are total non-interest expense; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; and the ratio of total shareholders' equity to total assets, respectively. 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. 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. Loans subject to approval including credit approval. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Synovus. 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. You can participate directly in the Plan by submitting a completed 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. 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. Synovus Bank, a wholly owned subsidiary of Synovus, has been recognized as one of the country's Most Reputable Banks by American Banker and the Reputation Institute. 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. Trust services for Synovus are provided by STC. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. 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. Actual results may differ materially from those contemplated by such forward-looking statements. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Otherwise, we will treat your assertion or request per our standard policies and procedures. Net interest margin of 3.02%, down 2 bps sequentially. 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. Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. A fast, safe, and easy way to send money. Loans subject to approval including credit approval. Synovus Bank, NMLS #408043. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Registered Owners (shares held by you) These companies will maintain and manage your information in accordance with their policies and procedures,please review them. receives compensation from insurance companies or their affiliates in the form of commissions. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. HDFC Bank Investor Relations. This communication is directed to properties in those states. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. The tangible common equity ratio is used by management to assess the strength of our capital position. 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. Skip to Content Toggle navigation Log in Manage Your Account https://www.consumerfinance.gov/mortgage/. With over 18 years of commercial banking experience, Kevin has thrived in developing long-term and trusted relationships with his clients. February 10, 2023 - 7:30 AM PST. Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. inaccuracies. Notifications. 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. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. of provision for credit losses. Offers an Optional Service. 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. Commercial and industrial (C&I) loans increased $426.0 million sequentially, led by broad based growth within our Wholesale Banking segment, partially offset by declines in PPP loan balances of $116.2 million. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. 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