shares without paying fees. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. 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. The earnings call will be accompanied by a slide presentation. responsible for any of the content or additional links they contain. We don't endorse or gaurantee the Loans subject to approval including credit approval. Streetholders (shares held by your broker) During today's call, we will reference the slides and press releases that are available within the investor relations. responsible for any of the content or additional links they contain. Year-over-year decline was primarily due to prior year benefit from reversal Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. For a link to the webcast, go to investor.synovus.com/event. We don't endorse or gaurantee the If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Non-interest expense increased $3.4 million, or 1% sequentially. Non-interest expense increased $9.6 million, or 4%, sequentially and increased $11.5 million, or 4%, compared to prior year. 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. Net interest margin was 3.02%, down 2 bps sequentially. Or if you have questions, please call the number below. You can access your Synovus shareholder account by Internet, Telephone, or in Writing. Media Contact Audria Belton Media Relations media@synovus.com Investor Contact Cal Evans Investor Relations investorrelations@synovus.com Business Wire. You are about to leave the Synovus web site for a third-party site. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, Core transaction deposits (non-interest bearing, interest bearing demand, NOW/savings, and money market deposits excluding public and brokered funds) increased $5.1 billion or 16%. shares were previously notified by American Stock Transfer (AST) to exchange those shares for the Synovus Financial Corp. (NYSE: SNV) Q4 2022 Earnings Call Transcript January 19, 2023. 2023 Synovus Financial Corp. All rights reserved. C&I line utilization remains near historic lows at ~40%. Offers an Optional Service Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. For a link to the webcast, go to investor.synovus.com/event. Many of these factors are beyond Synovus ability to control or predict. 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,. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Fraud Alert: Synovus and other financial institutions have been made aware of a rise in fraudsters calling customers to impersonate bank team members. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Adjusted pre-provision net revenue is used by management to evaluate pre-tax earnings exclusive of (reversal of) provision for credit losses, which can vary significantly, and other items that management believes are not indicative of ongoing operations and affect period-to-period comparisons. Preliminary total risk-based capital ratio of 12.60% decreased 32 basis points from the prior quarter, primarily from strong asset growth and reduction in the allowance for credit losses. Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. 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. 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. 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. Second consecutive quarter of record commercial loan production. This communication is directed to properties in those states. All statements other than statements of historical fact are forward-looking statements. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Total deposits ended the quarter at $47.17 billion, down $197.0 million sequentially. enrollment form. 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. 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. products or information provided by third-party sites, and we're not responsible for any failures or You are about to leave the Synovus web site for a third-party site. Year-over-year increase was primarily due to incentives and costs associated with elevated performance, merit increases, new business initiatives, and infrastructure investments. 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. We provide commercial and retail banking in addition to a full suite of specialized products and services including 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/. SNV boasts an average earnings . You can purchase additional shares by investing between a minimum of $50 at The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. 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. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. recently received a letter from LINK Shareholder Services LLC with instructions on how to exchange Synovus Securities,Inc. 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. You can reinvest all or part of your cash dividends to accumulate more receives compensation from insurance companies or their affiliates in the form of commissions. Kevin has been engaged in the Synovus ESOP Finance team for 4 years, providing customized solutions to clients for their Employee . Actual results may differ materially from those contemplated by such forward-looking statements. 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. A fast, safe, and easy way to send money. Core transaction deposits (non-interest bearing, NOW/savings, and money market deposits excluding public and brokered funds) increased $702.4 million or 2% sequentially. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. 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. Synovus Bank, NMLS #408043, is an Equal Housing Lender. Total loans ended the quarter at $39.3 billion, up $1.0 billion or 3% quarter over quarter. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. PPP fees of $3.7 million, down $3.2 million sequentially and down $16.7 million year-over-year. You are about to leave the Synovus web site for a third-party site. 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. Please contact your stockbroker directly for information on your account. Banking products are provided by Synovus Bank, Member FDIC. 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. All statements other than statements of historical fact are forward-looking statements. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram. This communication is directed to properties in those states. 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 interest margin of 3.02%, down 2 bps sequentially. products or information provided by third-party sites, and we're not responsible for any failures or Skip to Content Toggle navigation Log in Manage Your Account Third-party sites aren't under our control, and we're not Were building a bank that stays in step with our customers as they pursue greater financial freedom and security. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. Period-end deposit growth of $1.7 billion or 4% from the third quarter. Core transaction deposits increased $702.4 million or 2% sequentially. 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. 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. 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. We don't endorse or gaurantee the 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. Trust services for Synovus are provided by STC. Otherwise, we will treat your assertion or request per our standard policies and procedures. This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute forward-looking statements within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. "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. The effective tax rate was 21.88% for the quarter. Provision for credit losses of $12.7 million increased $1.3 million sequentially; allowance for credit losses coverage ratio (to loans) of 1.11% declined 4 bps sequentially. And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. Event registration via the 2022 Investor Day website is required for both in-person and virtual attendees. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Total deposit costs declined 1 basis point from the third quarter to 12 basis points. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. 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. Well capitalized with preliminary year-end ratios of 9.49% for CET1 and 12.60% for total risk-based capital. Credit quality ratios remain near historical lows. Allowance for credit losses coverage ratio (to loans) of 1.47%, or 1.54% excluding PPP loans. 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. Non-interest revenue decreased $8.1 million, or 8%, sequentially and decreased $9.8 million, or 9%, compared to prior year. Capital generated from earnings was offset by strong asset growth as well as capital deployed through dividends and share repurchases. Jul 21, 2022, 8:30 a.m. 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. Period-end loan growth of $1.4 billion or 4% quarter over quarter, excluding the reduction in PPP loans. 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/. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. All statements other than statements of historical fact are forward-looking statements. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; total adjusted revenue; 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. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. 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. Total non-interest-bearing deposits are now 35% of core deposits (total deposits excluding brokered deposits). 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. Accordance with their policies and procedures, please call the number below financial have! To send money including Synovus, will call, text, or in Writing website is required for in-person! In fraudsters calling customers to impersonate Bank team members the normalization of net mortgage revenues near lows! Telephone, or email you to ask for personal information parties may to. Up $ 1.0 billion or 4 % from the third quarter to 12 basis points sequentially to 9.49 for... 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