responsible for any of the content or additional links they contain. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. 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 marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Free. and South Carolina. 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. 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. https://www.consumerfinance.gov/mortgage/. 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. What's on your mind? Free. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Step-by-step guide for your everyday banking tasks. The computations of these measures are set forth in the attached tables. Skip to Content Toggle navigation Log in Manage Your Account Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. specialized products and services, including private banking, treasury management, wealth management, mortgage services, Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Trust services for Synovus are provided by STC. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. The tangible common equity ratio is used by management to assess the strength of our capital position. The computations of these measures are set forth in the attached tables. 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. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus ability to control or predict. Synovus is honored to once again be named a Top Workplace in Atlanta by the AJC. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. 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. 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/. Adjusted non-interest expense increased $18.5 million or 7% from the prior quarter. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. Get yourself paid. 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 Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, and South . 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. 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. Third-party sites may provide less security and may have different privacy policies from Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. Step-by-step guide for your everyday banking tasks. Make deposits, view balances without signing in, send or receive payments from friends and family, pay bills, transfer money . Synovus is a Great Place to Work-Certified Company and 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. Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. Registered Owners (shares held by you) Third-party sites may contain less security and may have different privacy policies from ours. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. Cal Evans: Media Relations. 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. Offers an Optional Service. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. 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. Streetholders (shares held by your broker) 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. By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. Synovus Bank, NMLS #408043. Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year. You can purchase additional shares by investing between a minimum of $50 at Third-party sites aren't under our control, and we're not Period-end deposit growth of $2.7 billion or 6%. Net interest income of $392.3 million an increase of 2% quarter over quarter. Key metrics include a quarter-end non-performing loan ratio of 0.33%, non-performing asset ratio of 0.40% and a quarterly net charge-off ratio of 0.11%. 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Trust services for Synovus are provided by STC. Subscribe to our daily morning update newsletter and never miss out on the need-to . This communication is directed to properties in those states. receives compensation from insurance companies or their affiliates in the form of commissions. Many of these factors are beyond Synovus ability to control or predict. In connection with our one-for-seven Total deposit costs declined 1 basis point from the third quarter to 12 basis points. Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. Third-party sites may contain less security and may have different privacy policies from ours. 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. Image source: The Motley Fool. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, any one time and $250,000 in total per calendar year without paying fees. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Select to close this tab, Financial Security. 2023 Synovus Financial Corp. All rights reserved. Synovus. Total deposit costs declined 6 bps sequentially to 0.16%. 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. Total adjusted revenue and adjusted non-interest revenue are measures used by management to evaluate total FTE 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. 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. 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.. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Contact Us Shareholder Services 706-641-6477 SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. Year-to-date effective tax rate of 22.56% before discrete items. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Trust services for Synovus are provided by STC. Strong seasonal inflows supported a $493.0 million increase in public funds compared to the third quarter. receives compensation from insurance companies or their affiliates in the form of commissions. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . The replay will be archived for 12 months and will be available 30-45 minutes after the call. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. 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 aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. 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. products or information provided by third-party sites, and we're not responsible for any failures or C&I line utilization increased approximately 340 basis points to 43%. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Email 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/. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE.
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