Streetholders (shares held by your broker) 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. Continue Or if you have questions, please call the number below. Get your suppliers paid. Non-interest expense of $295.2 million, an increase of $28.2 million from the third quarter. The computations of these measures are set forth in the attached tables. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Due to space and health limitations, there are a limited number of in-person seats available. 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. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. Senior Vice President, ESOP Finance. Second consecutive quarter of record commercial loan production. 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. and South Carolina. Box 120, Columbus, GA 31902. Net interest margin of 3.02%, down 2 bps sequentially. 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 fast, safe, and easy way to send money. 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. ET on January 20, 2022. 706-641-6477 P.O. Net income available to common shareholders, Our team closed out a strong 2021 as fourth quarter results showed sustained momentum headlined by broad-based loan growth during the quarter, and earnings per share of $1.31, which is up 37% from the fourth quarter 2020, said Synovus President and CEO Kevin Blair. 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. Core transaction deposits increased $1.3 billion or 4% quarter over quarter. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Manage day-to-day banking Personal Debit Cards Easily access your money Savings Save for a rainy day Money Market Accounts Earn higher interest for higher balances Certificates of Deposit Grow savings over time Health Savings Account Prepare for health expenses Other Banking Services Enjoy flexible access Charge Borrow 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. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn, and Instagram. Synovus provides commercial and retail banking and a full suite of 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. Email Georgia, with approximately $60 billion in assets. Synovus Bank, NMLS #408043, is an Equal Housing Lender. For a link to the webcast, go to investor.synovus.com/event. These companies will maintain and manage your information in accordance with their policies and procedures,please review them. Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. In connection with our one-for-seven responsible for any of the content or additional links they contain. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Non-interest expense increased $3.4 million, or 1% sequentially. 404-364-2739. kevinsuchecki@synovus.com. ", 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. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Investor Relations (706) 644-3781 (706) 641-6500: Synovus Announces Earnings for . All statements other than statements of historical fact are forward-looking statements. www.quotemedia.com. The tangible common equity ratio is used by management to assess the strength of our capital position. This communication is directed to properties in those states. View your account, purchase and sell shares. 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 261 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Or if you have questions, please call the number below. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total TE revenue; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and income before income taxes, respectively. 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. 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. Commercial real estate (CRE) loans increased by $441.2 million or 4% from the prior quarter as pay-off and pay-down activity normalized. products or information provided by third-party sites, and we're not responsible for any failures or SNV earnings call for the period ending June 30, 2022. The effective tax rate was 25.6% for the quarter. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. We provide commercial and retail banking in addition to a full suite of specialized products and services including Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. Credit quality ratios remain near historical lows. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. Reverse Stock Split Follow Up Message from LINK Shareholder Services You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. ET on February 8th, 2022. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. You can purchase additional shares by investing between a minimum of $50 at receives compensation from insurance companies or their affiliates in the form of commissions. A fast, safe, and easy way to send money. Shareholders and other interested parties may listen to this conference call via simultaneous Internet broadcast. 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. 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. The benefits from various efficiency initiatives were offset by higher commissions, incentives, and expenses primarily related to additional PPP forgiveness and expenses associated with higher third- party consumer loan balances. 2023 Synovus Financial Corp. All rights reserved. Reinvestment and Direct Stock Purchase Plan. Third-party sites may contain less security and may have different privacy policies from ours. 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. Year-to-date effective tax rate of 22.56% before discrete items. 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