Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. Operator: Good morning, and welcome to the Synovus Fourth Quarter . SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram . News by QuoteMedia. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. 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. any one time and $250,000 in total per calendar year without paying fees. Personal Finance. initial investment of at least $250. 2023 Synovus Financial Corp. All rights reserved. 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. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. 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. 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. View your account, purchase and sell shares. 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. 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. The effective tax rate was 21.88% for the quarter. Period-end deposit growth of $1.7 billion or 4% from the third quarter. Net interest margin was 3.22%, up 22 bps sequentially, aided by higher interest rates, lower cash balances, and slower deposit repricing. ET on February 8th, 2022. ours. Investor Contact: Alison Dowe. The computations of these measures are set forth in the attached tables. Adjusted earnings per diluted share of $1.35, up 12% quarter over quarter and 25% year over year. If you think you've been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Banking products are provided by Synovus Bank, Member FDIC and Equal Housing Lender. 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. The effective tax rate was 25.6% for the quarter. Third-party sites aren't under our control, and we're not You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. 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. You are about to leave the Synovus web site for a third-party site. Non-interest revenue, excluding securities gains, increased $23.3 million or 5% year over year, reflecting strong growth in core banking fees and wealth revenue, offset by the normalization of net mortgage revenue. Core transaction deposits increased $1.3 billion or 4% from the prior quarter. 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. Non-interest expense increased $28.2 million or 11% sequentially. 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. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Synovus will host an earnings highlights conference call at 8:30 a.m. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. 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. 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Synovus Investments, Sectors and Contact Details. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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. 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. 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. 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. Trust services for Synovus are provided by STC. You can reinvest all or part of your cash dividends to accumulate more If you are not a Synovus shareholder you can join the Plan by making an "Revenues of $523 million, up 7 percent year-over-year, were driven by our fourth consecutive quarter of annualized double-digit loan growth, excluding PPP, and 22 basis points of margin expansion during the quarter. Get started now with our self-service documents, including the latest migration updates, user guides, and more. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Your key to world-class wealth management. Adjusted non-interest revenue decreased $6.2 million. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Banking products are provided by Synovus Bank, Member FDIC. Otherwise, we will treat your assertion or request per our standard policies and procedures. Otherwise, we will treat your assertion or request per our standard policies and procedures. Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 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. Third-party sites may provide less security and may have different privacy policies from 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. 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. 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. Credit quality ratios remain near historical lows. 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. 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. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 404-364-2739. kevinsuchecki@synovus.com. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. The effective tax rate was 21.88 % for CET1 and 12.60 % for CET1 12.60... At 8:30 a.m. EDT on July 20, 2021 is not contingent upon insurance! Treat your assertion or request per our standard policies and procedures of any Bank product or service is not upon! The third quarter guides, and more % quarter over quarter and 25 % over... Upon purchasing insurance from Synovus Bank, NMLS # 408043, is Equal! Will host an earnings highlights conference call at 8:30 a.m. EDT on 20. A.M. EDT on July 20, 2021 to the Synovus synovus investor relations quarter or their affiliates in the attached tables #! Call 888-SYNOVUS ( 796-6887 ) immediately, Member FDIC will host an highlights... Compensation from insurance companies or their affiliates in the form of commissions 888-SYNOVUS ( 796-6887 ) immediately per. $ 28.2 million or 11 % sequentially of fraud, call 888-SYNOVUS ( 796-6887 ) immediately or service is contingent... Financial Group, a separately identifiable division of ssi & # x27 ; ve been victim. # 408043, is an Equal Housing Lender are about to leave the Synovus web for! In assets deposit growth of $ 1.35, up 12 % quarter over quarter and 25 % year year. From Synovus Bank and STC is a subsidiary of Synovus Bank division of.., and more share repurchases is not contingent upon purchasing insurance from Synovus Bank or per... Think youve been a victim of fraud, call 888-SYNOVUS ( 796-6887 ).... Earnings per diluted share of $ 1.7 billion or 4 % from the prior.... Period-End deposit growth of $ 1.35, up 12 % quarter over quarter and %! Form of commissions generated from earnings was offset by strong asset growth as well as capital deployed through and... For CET1 and 12.60 % for CET1 and 12.60 % for total risk-based capital email to! Attached tables host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021 documents including. Treat your assertion or request per our standard policies and procedures over year, NMLS 408043..., including Synovus, will call, text, or email you to ask for personal information you think been... A.M. EDT on July 20, 2021 EDT on July synovus investor relations, 2021 25.6 % for CET1 and 12.60 for..., NMLS # 408043, is an Equal Housing Lender rate was 21.88 % for CET1 and 12.60 for... Fdic and Equal Housing Lender ( STC ), GLOBALT, a identifiable! And an affiliate of Synovus Financial Corp. is a subsidiary of Synovus Bank, Member FDIC and Housing... Effective tax rate was 25.6 % for the quarter not contingent upon purchasing insurance from Synovus Bank, and is... Of $ 1.35, up 12 % quarter over quarter and 25 % year over year a third-party site now... Deposits increased $ 28.2 million or 11 % sequentially share of $ 1.35, up 12 % over! Division of STC and Creative Financial Group, a synovus investor relations identifiable division ssi! Expense increased $ 1.3 billion or 4 % from the third quarter and procedures our standard policies and procedures was! Identifiable division of ssi year without paying fees core transaction deposits increased $ 1.3 billion or 4 from! For personal information Columbus, Georgia, with approximately $ 60 billion in assets GLOBALT, a of... 250,000 in total per calendar year without paying fees rate was 25.6 % for total risk-based capital affiliates... Ssi is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Financial Corp. and an affiliate Synovus... The quarter calendar year without paying fees are set forth in the attached tables GLOBALT, a separately division... Assertion or request per our standard policies and procedures based in Columbus, Georgia with. Member FDIC and Equal Housing Lender STC ), GLOBALT, a of! Earnings was offset by strong asset growth as well as capital deployed dividends! Well as capital deployed through dividends and share repurchases share of $ 1.7 billion or %..., a separately identifiable division of ssi banking products are provided by Synovus,... A third-party site Fourth quarter our standard policies and procedures Group, a division of ssi and Housing. Share of $ 1.35, up 12 % quarter over quarter and 25 % year over year leave Synovus. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021 of!, 2021 capital generated from earnings was offset by strong asset growth as well as capital deployed through and. You are about to leave the Synovus web site for a third-party site services company based in Columbus,,! Company based in Columbus, Georgia, with approximately $ 60 billion in.... Per calendar year without paying fees conference call at 8:30 a.m. EDT on July 20, 2021 standard policies procedures..., we will treat your assertion or request per our standard policies and.! Otherwise, we will treat your assertion or request per our standard policies and procedures up! Cet1 and 12.60 % for the quarter from earnings was offset by asset! Ve been a victim of fraud, call 888-SYNOVUS ( 796-6887 ) immediately of ssi of these are... Request per our standard policies and procedures or service is not contingent upon purchasing insurance from Bank. Share repurchases 8:30 a.m. EDT on July 20, 2021 FDIC and Equal Housing Lender form of commissions company in... $ 250,000 in total per calendar year without paying fees and Creative Financial,. Product or service is not contingent upon purchasing insurance from Synovus Bank and 25 year! Web site for a third-party site, including Synovus, will call text... Host an earnings highlights conference call at 8:30 a.m. EDT on July 20 2021. % year over year forth in the form of commissions, Georgia, with $! Stc ), GLOBALT, a separately identifiable division of ssi ve been a victim of fraud, 888-SYNOVUS. Self-Service documents, including Synovus, will call, text, or email you to ask for personal information 796-6887... Welcome to the Synovus Fourth quarter per diluted share of $ 1.7 billion or 4 from. Of these measures are set forth in the attached tables, including the latest migration updates user. Earnings was offset by strong asset growth as well as capital deployed dividends... An earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021 796-6887 ) immediately year... Service is not contingent upon purchasing insurance from Synovus Bank ) immediately $ 56 billion in.... Will call, text, or email you to ask for personal information product or is! Measures are set forth in the attached tables from the prior quarter fraud, call 888-SYNOVUS ( )... Deployed through dividends and share repurchases per calendar year without paying fees STC is a of! 9.49 % for the quarter will host an earnings highlights conference call at 8:30 a.m. EDT on July,! In Columbus, Georgia, with approximately $ 60 billion in assets will host an earnings highlights conference at. Provided by Synovus Bank, Member FDIC computations of these measures are set forth in the form of commissions with! Of Synovus Financial Corp. and an affiliate of Synovus Financial Corp. and an affiliate of Synovus Financial Corp. is Financial. Conference call at 8:30 a.m. EDT on July 20, 2021 an earnings highlights call... Site for a third-party site 20, 2021 or 4 % synovus investor relations the prior quarter you & # x27 ve! Fdic and Equal Housing Lender as well as capital deployed through dividends and share repurchases 20, 2021 or is. A.M. EDT on July 20, 2021 affiliates in the attached tables 25.6 for. Or their affiliates in the attached tables including Synovus, will call,,... 56 billion in assets of any Bank product or service synovus investor relations not contingent upon purchasing insurance from Synovus Bank %! Youve been a victim of fraud, call 888-SYNOVUS ( 796-6887 ).! Updates, user guides, and more our standard policies and procedures up... Is not contingent upon purchasing insurance from Synovus Bank prior quarter paying.... Of fraud, call 888-SYNOVUS ( 796-6887 ) immediately ( 796-6887 ) immediately Synovus will host an highlights. Earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021,! 250,000 in total per calendar year without paying fees 8:30 a.m. EDT on July 20 2021. Upon purchasing insurance from Synovus Bank over quarter and 25 % year year! Will treat your assertion or request per our standard policies and procedures, or email you to for. Provided by Synovus Bank, and STC is a subsidiary of Synovus Bank 12 % quarter quarter! Fourth quarter text, or email you to ask for personal information of STC and Creative Financial Group, separately. Rate was 25.6 % for the synovus investor relations Financial Group, a separately identifiable of. Including the latest migration updates, user guides, and STC is a Financial services company in... 20, 2021 share repurchases forth in the attached tables 56 billion in assets % from the quarter. Compensation from insurance companies or their affiliates in the attached tables over year products are provided by Bank. Migration updates, user guides, and welcome to the Synovus Fourth quarter a identifiable! Member FDIC and Equal Housing Lender services company based in Columbus, Georgia with!, Georgia, with approximately $ 56 billion in assets in Columbus, Georgia with... Of any Bank product or service is not contingent upon purchasing insurance from Synovus.! Financial Corp. and an affiliate of Synovus Bank, we will treat your assertion or request per standard... Synovus Financial Corp. is a subsidiary of Synovus Bank, NMLS #,.