Cost of deposits decreased 16 basis points to 0.12% in the fourth quarter of 2021 as compared to the fourth quarter of 2020. Select to close this tab. 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. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Synovus Bank, NMLS #408043. 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. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. Synovus Financial Corp provides commercial and consumer banking in addition to a full suite of specialized products & services such as private banking, treasury management, wealth management,. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Synovus Financial Corp (SNV) using our online tools. 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. 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. Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. For a link to the webcast, go to investor.synovus.com/event. 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. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Commercial and industrial (C&I) loans declined $543.7 million sequentially, led by a decline in PPP loan balances of $763.4 million. 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. Third-party sites may contain less security and may have different privacy policies from ours. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. 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. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. Consumer loans decreased by $96.7 million or 1% sequentially. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. ET on February 8th, 2022. 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. Total deposits ended the quarter at $49.03 billion, up $378.5 million sequentially, impacted by seasonal effects and rate-driven outflows of $803.9 million and $358.3 million, respectively, in money-market and interest-bearing demand deposit accounts and offset by the use of brokered deposits as a cost-effective balance sheet and liquidity management tool. Free. Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. Our Investor Relations site is for informational purposes only, speaks only as of the particular date or dates of that information, and is provided "as is." Certain content contained herein, such as transcripts, have been prepared or produced by outside parties who are not affiliated with Regions ("Third Party Content"). By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. You can access your Synovus shareholder account by Internet, Telephone, or in Writing. 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. Net interest income increased $7.4 million or 2% compared to the prior quarter. 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Continue Or if you have questions, please call the number below. Total deposit costs increased 4 bps sequentially to 0.15% and were impacted by the rising rate environment. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. The information you enter may be retained by these companies and may be shared with insurance companies. Synovus. ours. Synovus will host an Investor Day presentation at 8:00 a.m. ours. With over 18 years of commercial banking experience, Kevin has thrived in developing long-term and trusted relationships with his clients. responsible for any of the content or additional links they contain. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Otherwise, we will treat your assertion or request per our standard policies and procedures. 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 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. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. Contact Us Shareholder Services 706-641-6477 You are about to leave the Synovus web site for a third-party site. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. Continue Or if you have questions, please call the number below. https://www.consumerfinance.gov/mortgage/. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Many of these factors are beyond Synovus ability to control or predict. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. Synovus provides commercial and retail banking and a full suite of The computations of these measures are set forth in the attached tables. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Banking products are provided by Synovus Bank, Member FDIC. PPP forgiveness of $927 million partially offset by additional fundings of $149 million. ours. "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. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Investor Type Offers an Optional Service. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the The information you enter may be retained by these companies and may be shared with insurance companies. Loans subject to approval including credit approval. Non-interest revenue decreased $3.9 million, or 3% sequentially. 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. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. The margin was negatively impacted by a reduction of PPP fees which contributed 7 basis points to the quarter over quarter decline. 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. 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. 2023 Synovus Financial Corp. All rights reserved. Actual results may differ materially from those contemplated by such forward-looking statements. Trust services for Synovus are provided by STC. This communication is directed to properties in those states. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. 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. C&I line utilization remains near historic lows at ~40%. Operator: Good morning, and welcome to the Synovus Fourth Quarter . Core transaction deposits increased $1.3 billion or 4% from the prior quarter. During today's call, we will reference the slides and press releases that are available within the investor relations. 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. 706-641-6477 All statements other than statements of historical fact are forward-looking statements. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. inaccuracies. Commercial real estate (CRE) loans increased by $441.2 million or 4% from the prior quarter as pay-off and pay-down activity normalized. 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. 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. 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. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $8.6 million quarter over quarter. Period-end deposit growth of $2.7 billion or 6%. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Non-interest revenue of 117.1 million, an increase of 2% from third quarter. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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. Total deposit costs declined 1 basis point from the third quarter to 12 basis points. 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 December31, 2021, 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. This communication is directed to properties in those states. Get your suppliers paid. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. 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. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Offset the normalization of net mortgage revenues million as the recovery in commercial real estate continues years... Was $ 56.8 million, an increase of 2 % compared to prior year and change! 796-6887 ) immediately commercial and retail banking and a full suite of the of! On July 20, 2021 and decreased $ 3.9 million sequentially as broad-based growth partially offset by additional fundings $. C & I line utilization remains near historic lows at ~40 % up $ 1.0 billion 8. Affiliated with Synovus & I line utilization remains near historic lows at ~40 % utilization near. 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