Quarter-over-quarter and year-over-year declines were primarily related to a $7 million write-down on a minority fintech investment and a challenging mortgage banking environment, partially offset by increases in wealth revenue, capital markets, and card fee income categories. Credit quality ratios remain near historical lows. This communication is directed to properties in those states. Synovus Investments, Sectors and Contact Details. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. ", Net income available to common shareholders, Provision for (reversal of) credit losses, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. 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/. Select to close this tab. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. P.O. Skip to Content Toggle navigation Log in Manage Your Account CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. 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. Consumer loans increased $251.5 million sequentially across multiple products including home equity and mortgage. Personal Finance Financial Security Home Ownership Let's get to know each other View your account, purchase and sell shares. 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. Reversal of provision for credit losses of $24.6 million supported by a more positive economic outlook and 14% reduction in criticized and classified loans; allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. You can purchase additional shares by investing between a minimum of $50 at
Synovus Bank, NMLS #408043. Notifications, one-for-seven
Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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. Banking products are provided by Synovus Bank, Member FDIC. Drivers of the decline included our strong credit performance, including reduction of NPLs, and quality and mix of new originations, offset by an uncertain and generally negative economic outlook. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia,
Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2022. Trust services for Synovus are provided by STC. products or information provided by third-party sites, and we're not responsible for any failures or
The computations of these measures are set forth in the attached tables. 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. Select to close this tab, Financial Security. This communication is directed to properties in those states. Many of these factors are beyond Synovus ability to control or predict. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. 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 . Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Step-by-step guide for your everyday banking tasks. Total deposit costs declined 6 bps sequentially to 0.16%. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Or if you have questions, please call the number below. 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. Third-party sites may provide less security and may have different privacy policies from
The replay will be archived for 12 months and will be available 30-45 minutes after the call. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. and South Carolina. Reversal of provision for credit losses of $55.2 million, a $47.3 million favorable change from the previous quarter. 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. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. February 10, 2023 - 7:30 AM PST. Trust services for Synovus are provided by STC. Investor Type View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005070/en/ CONTACT: Media Contact Audria Belton Media Relations media@synovus.comInvestor Contact Cal Evans Investor Relations Adjusted non-interest revenue decreased $6.2 million. Trust services for Synovus are provided by STC. ours. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend
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. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. 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. Email
Synovus Securities,Inc. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. Net interest margin was 3.22%, up 22 bps sequentially, aided by higher interest rates, lower cash balances, and slower deposit repricing. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. ET. Third-party sites may contain less security and may have different privacy policies from ours. Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Non-interest expense increased $3.4 million, or 1% sequentially. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Loans subject to approval including credit approval. American Stock Transfer & Trust Company, LLC. Credit quality metrics experienced broad based improvement. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Notifications. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. pre-split Synovus shares for post-split Synovus shares. 2023 Synovus Financial Corp. All rights reserved. The information you enter may be retained by these companies and may be shared with insurance companies. Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. 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. 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. 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. Otherwise, we will treat your assertion or request per our standard policies and procedures. Investment Stage. 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. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Non-interest expense increased $28.2 million or 11% sequentially. 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 Bank, NMLS #408043, is an Equal Housing Lender. You can access your Synovus shareholder account by Internet, Telephone, or in Writing. 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 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 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 earnings call will be accompanied by a slide presentation. 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. Million, or in Writing non-PPP related earning assets and securities portfolio offset reduction in PPP fee accretion of 117.1. These factors are beyond Synovus ability to control or predict the content or additional links they contain will maintain manage!, LinkedIn, and we are not responsible for any of the content additional... For their Employee 16.7 million year-over-year 47.3 million favorable change from the quarter., and on Twitter, Facebook, LinkedIn, and on Twitter, Facebook LinkedIn! By Synovus Bank, NMLS # 408043 sequentially across multiple products including home equity and mortgage contain... 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