All statements other than statements of historical fact are forward-looking statements. 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. Synovus Financial Corp. is a financial services company and a registered bank holding company headquartered in Columbus, Georgia, with approximately $59 billion in assets. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Email 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. Registered Owners (shares held by you) Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Third-party sites may provide less security and may have different privacy policies from https://www.consumerfinance.gov/mortgage/. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. 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. products or information provided by third-party sites, and we're not responsible for any failures or Many of these factors are beyond Synovus ability to control or predict. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Net interest income of $381.9 million increased $8.0 million sequentially as asset growth, reduced deposit costs, and a higher day count more than offset the reduction in PPP fee income. The information you enter may be retained by these companies and may be shared with insurance companies. Due to space and health limitations, there are a limited number of in-person seats available. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. Shareholder Services 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. We also acknowledge the strength of our client base, with credit metrics at historically low levels and average operating liquidity up more than 40 percent on average compared to pre-pandemic levels. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Adjusted non-interest expense increased $4.1 million, or 1%, sequentially and increased $15.4 million, or 6%, compared to prior year. Investor Relations investorrelations@synovus.com Synovus Financial Corp. NYSE:SNV Release Summary Synovus Chairman, CEO and President Kevin Blair will participate at the BofA Securities. Third-party sites aren't under our control, and we're not All statements other than statements of historical fact are forward-looking statements. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, reverse stock split which became effective May 16, 2014, shareholders with certificated 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. 18 min read. 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. With a strong market position, broad geographic coverage footprint servicing 50 states . February 10, 2023 - 7:30 AM PST. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. A recording of the 2022 Investor Day webcast will be available on the Investor Day website following the event. https://www.consumerfinance.gov/mortgage/. 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. receives compensation from insurance companies or their affiliates in the form of commissions. 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. 2023 Synovus Financial Corp. All rights reserved. PPP loans declined $382.6 million quarter over quarter. ET. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total FTE revenue; efficiency ratio-FTE; 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. Whether your financial aspirations are personal or for your business, we can help you reach them. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. 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. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. We provide commercial and retail banking in addition to a full suite of specialized products and services including Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. 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. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . 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. 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. "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. Second consecutive quarter of record commercial loan production. Synovus Securities,Inc. 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 obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Blake Robbins - Synovus Mortgage in Decatur, reviews by real people. View source version on businesswire.com:. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. You can reinvest all or part of your cash dividends to accumulate more Year-to-date effective tax rate of 22.56% before discrete items. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. Actual results may differ materially from those contemplated by such forward-looking statements. For a link to the webcast, go to investor.synovus.com/event. Third-party sites aren't under our control, and we're not Synovus provides commercial and retail banking and a full suite of 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 . Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. inaccuracies. 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. Banking products are provided by Synovus Bank, Member FDIC. 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. Streetholders (shares held by your broker) Our ongoing focus on growing core operating deposit relationships led to another quarter of account growth, as well as non-interest bearing deposit growth of $254 million. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. products or information provided by third-party sites, and we're not responsible for any failures or premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, Adjusted non-interest expense of $285.6 million increased $18.5 million quarter over quarter due to recurring expense increases such as investments in Synovus Forward initiatives as well as other expense increases not expected to recur including a seed gift into a newly established donor advised fund and environment-driven health care costs. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. A fast, safe, and easy way to send money. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. 2023 Synovus Financial Corp. All rights reserved. Synovus Bank, NMLS #408043. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 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. Step-by-step guide for your everyday banking tasks. 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/. 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. inaccuracies. COLUMBUS, GA, December 17, 2021 Synovus Financial Corp. 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