Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, Adjusted non-interest expense increased $2.4 million sequentially as 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. The effective tax rate was 25.6% for the quarter. Whether your financial aspirations are personal or for your business, we can help you reach them. Adjusted revenue and adjusted non-interest revenue are measures used by management to evaluate total TE 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. 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. Offers an Optional Service Synovus is aGreat Place to Work-Certified Companyand is on the web atsynovus.comand onTwitter,Facebook,LinkedIn, andInstagram. Loans subject to approval including credit approval. 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. Core transaction deposits increased $702.4 million or 2% sequentially. Consumer loans increased $251.5 million sequentially across multiple products including home equity and mortgage. 404-364-2739. kevinsuchecki@synovus.com. 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,. Implemented executive succession plan with Kessel Stelling moving into the role of Executive Chairman and Kevin Blair becoming President and CEO in April 2021. 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. products or information provided by third-party sites, and we're not responsible for any failures or Trust services for Synovus are provided by STC. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Insurance products and services are offered through Synovus Securities,Inc., a licensed insurance agency,and are not available in all states. 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. The measures entitled adjusted non-interest revenue; adjusted non-interest expense; 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; tangible common equity ratio; and adjusted pre-provision net revenue are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. Or if you have questions, please call the number below. Otherwise, we will treat your assertion or request per our standard policies and procedures. (STC), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. 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. Actual results may differ materially from those contemplated by such forward-looking statements. Synovus Bank, NMLS #408043. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. https://www.consumerfinance.gov/mortgage/. View source version on businesswire.com: https://www.businesswire.com/news/home/20230210005070/en/ CONTACT: Media Contact Audria Belton Media Relations media@synovus.comInvestor Contact Cal Evans Investor Relations No reputable financial institution, including Synovus, will call, text, or email you to ask for personal information. Non-interest expense increased $3.4 million, or 1% sequentially. Non-interest expense increased $3.4 million sequentially and decreased $13.6 million compared to prior year. 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. Synovus Bank, NMLS #408043. Banking products are provided by Synovus Bank, Member FDIC. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. You are about to leave the Synovus web site for a third-party site. 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. Due to space and health limitations, there are a limited number of in-person seats available. 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. 706-641-6477 Trust services for Synovus are provided by STC. 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%. 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. ours. Shareholders who have not responded to the previous mailing 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 Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $55 billion in assets. Actual results may differ materially from those contemplated by such forward-looking statements. 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. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. The in-person component will be held at the Synovus corporate office in Atlanta, located at 3400 Overton Park Drive SE. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. 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. 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. Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in Decatur and beyond. Commercial and industrial (C&I) loans increased $626.4 million or 3% from the prior quarter. 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/. 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. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $56 billion in assets. 2023 Synovus Financial Corp. All rights reserved. Or if you have questions, please call the number below. 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, Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. I am confident in our ability to guide both our company and clients through the present environment while building an even stronger bank for the future. https://www.consumerfinance.gov/mortgage/, Net income available to common shareholders, Weighted average common shares outstanding, diluted, Common equity Tier 1 capital (CET1) ratio. 2023 Synovus Financial Corp. All rights reserved. Email 2023 Synovus Financial Corp. All rights reserved. Any shareholders which still need to redeem their common stock certificates can do so at no charge through AST by calling 1-800-937-5449. Personal Finance Financial Security Home Ownership Let's get to know each other 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. Total deposit costs of 0.16% down 6 bps sequentially due to ongoing repricing and product remixing. BlueLinx (NYSE: BXC) is a leading U.S. wholesale distributor of residential and commercial building products with both branded and private-label SKUs across product categories such as lumber, panels, engineered wood, siding, millwork, and industrial products. In-person seats will not be considered reserved until a confirmation email is received from Synovus Investor Relations. The information you enter may be retained by these companies and may be shared with insurance companies. The increase in adjusted non-interest expense was driven by a combination of recurring expense increases as well as other discrete fourth quarter expenses. Investor Contact: Alison Dowe. receives compensation from insurance companies or their affiliates in the form of commissions. Blake Robbins - Synovus Mortgage in Decatur, reviews by real people. Net PPP fee accretion of $20.4 million, down $4.5 million sequentially. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. Credit quality ratios remain near historical lows. common stock certificates can do so at no charge through AST by calling The computations of these measures are set forth in the attached tables. Your key to world-class wealth management. Tax expense was $56.8 million, an increase of $7.7 million driven by higher taxable income and unfavorable change in discrete items. premium finance, asset-based lending, structured lending, and international banking through 246 branches in Georgia, You can access your Synovus shareholder account by Internet, Telephone, or in Writing. We don't endorse or gaurantee the Adjusted non-interest expense increased $2.4 million, or 1% sequentially. Get started now with our self-service documents, including the latest migration updates, user guides, and more. Skip to Content Toggle navigation Log in Manage Your Account ET on January 20, 2022. Year-to-date effective tax rate of 22.56% before discrete items. Preliminary CET1 ratio decreased 9 basis points sequentially to 9.49%. Achieved pre-tax run rate benefit of approximately $110 million from Synovus Forward initiatives, driving positive operating leverage, ahead of schedule; remain on track for expected cumulative $175 million pre-tax benefit by the end of 2022. Non-interest revenue decreased $3.9 million sequentially as broad-based growth partially offset the normalization of net mortgage revenues. Total revenue, excluding Paycheck Protection program (PPP) fees, of $519.0 million increased $50.4 million, or 11%, compared to prior year. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. Third-party sites aren't under our control, and we are not responsible for any of the content or additional links they contain. PPP loans declined $382.6 million quarter over quarter. For a link to the webcast, go to investor.synovus.com/event. Broad-based growth helped partially offset normalization of net mortgage revenue, which declined $8.5 million sequentially. Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans. Total risk-based capital ratio of 13.25% declined 9 bps from the prior quarter following a reduction in the ACL. View source version on businesswire.com:. inaccuracies. Growth in core loans and securities portfolio offset reduction in PPP fee accretion of $12.7 million, down $8.6 million from the third quarter. 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/. Shareholders are not required This impact was offset by a 2 basis point positive impact from non-PPP related earning assets. Notifications. Synovus Securities,Inc. Operator: Good morning, and welcome to the Synovus Fourth Quarter . Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July21, 2022. Non-interest revenue of $117.1 million increased $2.1 million or 2% compared to third quarter 2021. American Stock Transfer & Trust Company, LLC. Our ongoing focus on growing core operating deposit relationships led to another quarter of account growth, as well as non-interest bearing deposit growth of $254 million. Synovus Bank, Member FDIC, is an Equal Housing Lender and lends in the states of Alabama, Georgia, Florida, Tennessee, North Carolina, 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. 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