Adjusted non-interest expense increased $2.4 million, or 1% sequentially. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the 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. This communication is directed to properties in those states. pre-split Synovus shares for post-split Synovus shares. 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%. SNV boasts an average earnings . Email ", 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. 2023 Synovus Financial Corp. All rights reserved. During the event, President and CEO Kevin Blair, CFO Jamie Gregory, and other members of the Synovus executive leadership team will present the companys business drivers and strategic plans for building the bank of the future. United States. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. Many of these factors are beyond Synovus ability to control or predict. 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. Credit quality metrics remain at historically low levels with sequential improvement in the NPA, NPL, and criticized/classified loans ratios. Synovus provides commercial and retail banking, investment, and mortgage services through 249 branches and 335 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. Shareholder Services With a strong market position, broad geographic coverage footprint servicing 50 states . and South Carolina. Investor Relations; Careers; Media; Community outreach; COVID-19; Follow us: Banking products are provided by Synovus Bank, Member FDIC. The computations of these measures are set forth in the attached tables. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. You are about to leave the Synovus web site for a third-party site. Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year. Third-party sites may provide less security and may have different privacy policies from https://www.consumerfinance.gov/mortgage/. Synovus Financial Corp., formerly the Columbus Bank and Trust Company, is a financial services company with approximately $45 billion in assets based in Columbus, Georgia. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Both the non-performing loan and asset ratios improved to 0.26% and 0.33%, respectively; the net charge-off ratio for the quarter was 0.16%, and total past dues were 0.14% of total loans outstanding. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. Synovus provides commercial and retail banking and a full suite of You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. SNV earnings call for the period ending June 30, 2022. Email 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. 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. Non-interest expense increased $28.2 million or 11% sequentially. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. We are delivering on Synovus Forward, with $75 million in pre-tax benefits to date, and we continue to strengthen our competitive position by investing in specialized talent, technology and solutions, and by taking advantage of our economically vibrant Southeast footprint, Blair said. 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. February 10, 2023 - 7:30 AM PST. 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. The tangible common equity ratio is used by management to assess the strength of our capital position. Credit quality ratios remain near historical lows. 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. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. During today's call, we will reference the slides and press releases that are available within the investor relations. Loans subject to approval including credit approval. ours. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Notifications. 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. Synovus Bank, NMLS #408043, is an Equal Housing Lender. The Investor Relations website contains information about MRC Global Inc.'s business for stockholders, potential investors, and financial analysts. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 2023 Synovus Financial Corp. All rights reserved. PPP forgiveness of $927 million partially offset by additional fundings of $149 million. Blake Robbins - Synovus Mortgage in Decatur, reviews by real people. Email www.quotemedia.com. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Synovus Bank, NMLS #408043. The replay will be archived for 12 months. Synovus. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. American Stock Transfer & Trust Company, LLC. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Get your suppliers paid. Non-interest revenue of 117.1 million, an increase of 2% from third 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. 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/. This communication is directed to properties in those states. All statements other than statements of historical fact are forward-looking statements. Total revenue, excluding Paycheck Protection program (PPP) fees, of $519.0 million increased $50.4 million, or 11%, compared to prior year. Any shareholders which still need to redeem their responsible for any of the content or additional links they contain. Synovus will host an Investor Day presentation at 8:00 a.m. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. 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. Actual results may differ materially from those contemplated by such forward-looking statements. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 20, 2021. Synovus Mobile Banking. The replay will be archived for 12 months and will be available 30-45 minutes after the call. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. responsible for any of the content or additional links they contain. Credit quality metrics remain relatively stable, near historical lows. You are about to leave the Synovus web site for a third-party site. Adjusted non-interest expense increased $18.5 million or 7% from the prior quarter. 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. 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. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. You are about to leave the Synovus web site for a third-party site. 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, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, Core transaction deposits increased $1.3 billion or 4% from the prior quarter. 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. 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. Total loans ended the quarter at $38.24 billion, down $569.1 million or 1% sequentially. Actual results may differ materially from those contemplated by such forward-looking statements. Total taxable equivalent revenue was $510.3 million in the fourth quarter, up $9.7 million sequentially. Included in the provision was net charge-offs of $10.5 million offset by a reduction in the ACL ratio to 1.19% at quarter-end, or 1.21% excluding PPP loans. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. 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. 2023 Synovus Financial Corp. All rights reserved. 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. Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. If you are not a Synovus shareholder you can join the Plan by making an 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. 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. The information you enter may be retained by these companies and may be shared with insurance companies. Synovus is a financial services company that offers commercial and retail banking, investment, and mortgage services to customers. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). 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. 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. Image source: The Motley Fool. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Free. 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. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Synovus Securities,Inc. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Preliminary CET1 ratio declined 3 bps during the quarter to 9.46%, and the preliminary total risk-based capital ratio of 12.43% declined 13 bps from the previous quarter as capital generated through earnings helped offset the impact of loan growth. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. Or if you have questions, please call the number below. We don't endorse or gaurantee the A live webcast and replay will be available on Synovus' investor relations website at https://investor.synovus.com/event . 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. Net interest margin was 3.02%, down 2 bps 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. View source version on businesswire.com:. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Otherwise, we will treat your assertion or request per our standard policies and procedures. Net interest margin of 3.02%, down 2 bps sequentially. Third-party sites may contain less security and may have different privacy policies from ours. Reinvestment and Direct Stock Purchase Plan. Direct Stock Purchase Plan Investing in Synovus stock is easy, convenient and more affordable with The Synovus Dividend Reinvestment and Direct Stock Purchase Plan. 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. The effective tax rate was 21.88% for the quarter. . Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. shares without paying fees. Synovus Bank, NMLS #408043, is an Equal Housing Lender. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Jul 21, 2022, 8:30 a.m. Preliminary CET1 ratio improved 1 bp during the quarter to 9.75% as strong core performance helped offset the impact of $92.5 million in share repurchases at an average price of $47.51, reducing average diluted outstanding shares from the prior quarter by 1.3%. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. inaccuracies. Third-party sites may contain less security and may have different privacy policies from ours. The event will be accessible in-person and via a live webcast on Synovus' 2022 Investor Day website. reverse stock split. Net income available to common shareholders for 2021 was $727.3 million or $4.90 per diluted share as compared to $340.5 million or $2.30 per diluted share for 2020. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. 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. 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. 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. to utilize LINK Shareholder Services. products or information provided by third-party sites, and we're not responsible for any failures or (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. 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. 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 Strong seasonal inflows supported a $493.0 million increase in public funds compared to the third quarter. PPP loans declined $382.6 million quarter over quarter. Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. 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. shares of the post-split amount. 706-641-6477 This communication is directed to properties in those states. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. 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 Tennessee. 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. 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. Paycheck Protection Program (PPP) loans declined $763.4 million and third-party consumer loan balances increased $272.5 million sequentially. Third-party sites may provide less security and may have different privacy policies from P.O. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Forward-Looking Statements Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. https://www.consumerfinance.gov/mortgage/. 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 . Tax rate was 21.88 % for the quarter Stelling moving into the role of executive and., we will treat your assertion or request per our standard policies and.. The prior quarter following a reduction in the ACL the number below enter. $ 60 billion in assets 7 %, or 1.54 % excluding loans! Or 11 % sequentially Corp. ( NYSE: snv ) Q4 2022 earnings call Transcript 19... January 19, 2023 stable, near historical lows Twitter, Facebook, LinkedIn, andInstagram that are available the... Policies from ours % for the period ending June 30, 2022 a combination recurring! May have different privacy policies from P.O press release discrete fourth quarter expenses Georgia, with approximately $ billion! 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