SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Share this article: Stay In The Know. Net interest margin was 3.02%, down 2 bps sequentially. Loans subject to approval including credit approval. Personal Finance Financial Security Home Ownership Let's get to know each other Third-party sites may provide less security and may have different privacy policies from Notifications. Year-to-date effective tax rate of 22.56% before discrete items. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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. 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. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. Total deposit costs declined 6 bps sequentially to 0.16%. 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 obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Contacts Cal Evans Investor Relations. 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. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. 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 Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year. 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. 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. 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. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Investment Stage. C&I line utilization increased approximately 340 basis points to 43%. Banking products are provided by Synovus Bank, Member FDIC. inaccuracies. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the Non-interest revenue of 117.1 million, an increase of 2% from third quarter. Loans subject to approval including credit approval. 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 281 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. receives compensation from insurance companies or their affiliates in the form of commissions. Georgia, with approximately $60 billion in assets. SNV earnings call for the period ending June 30, 2022. 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. For a link to the webcast, go to investor.synovus.com/event. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. Email Third-party sites aren't under our control, and we're not 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. Adjusted non-interest expense increased $4.1 million, or 1%, sequentially and increased $15.4 million, or 6%, compared to prior year. The earnings call will be accompanied by a slide presentation. The effective tax rate was 25.6% for the quarter. 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. Year-over-year decline was primarily due to prior year benefit from reversal Please contact your stockbroker directly for information on your account. Loans subject to approval including credit approval. The earnings call will be accompanied by a slide presentation. ours. responsible for any of the content or additional links they contain. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. 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. What's on your mind? 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. Get your suppliers paid. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. 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. 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. P.O. inaccuracies. Notifications, one-for-seven Synovus Financial Corp. ( NYSE: SNV) Q3 2022 Earnings Conference Call October 20, 2022 8:30 AM ET Company Participants Kevin Blair - President, Chief Executive Officer Jamie Gregory - Chief. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange 2023 Synovus Financial Corp. All rights reserved. The replay will be archived for 12 months. 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 lending, structured lending, capital markets and international banking. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. Get yourself paid. to utilize LINK Shareholder Services. Banking products are provided by Synovus Bank, Member FDIC. Continue Or if you have questions, please call the number below. Provision for credit losses of $12.7 million increased $1.3 million sequentially; allowance for credit losses coverage ratio (to loans) of 1.11% declined 4 bps sequentially. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. 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. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Period-end loans decreased $569.1 million or 1% sequentially. 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. products or information provided by third-party sites, and we're not responsible for any failures or The information you enter may be retained by these companies and may be shared with insurance companies. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. Location. Synovus. Select to close this tab, Financial Security. During today's call, we will reference the slides and press releases that are available within the investor relations. 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. Investor Contact: Alison Dowe. 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. 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. 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. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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. Get yourself paid. Synovus provides commercial and retail banking and a full suite of 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. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. 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. 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. 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Trust services for Synovus are provided by STC. ET. C&I line utilization remains near historic lows at ~40%. Synovus Securities,Inc. This communication is directed to properties in those states. 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 reverse stock split which became effective May 16, 2014, shareholders with certificated 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. Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. 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. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Adjusted earnings per diluted share for 2021 were $4.95 as compared to $2.41 for 2020, an increase of 106%. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. Investor Type 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $12.7 million, down $8.6 million from the third quarter. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . responsible for any of the content or additional links they contain. Net interest margin of 3.02%, down 2 bps sequentially. This communication is directed to properties in those states. Personal Finance. For fiscal 2023, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.13 to $5.20 per share. Adjusted non-interest revenue decreased $6.2 million. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Notifications. The tangible common equity ratio is used by management to assess the strength of our capital position. Period-end deposit growth of $2.7 billion or 6%. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. 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. 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