Synovus Earnings Reports

Synovus delivered a solid performance in Q1 2025, with 67% year-over-year EPS growth, stable net interest income, improved credit quality, and disciplined expense control contributing to strong profitability.

Synovus Financial Corp. reported strong growth across core commercial lending, deposits and key fee-producing businesses in Q4 2024. The company maintained strict control over operating expenses, saw improvements in loan losses and increased their Common Equity Tier 1 ratio to the highest level in over 10 years.

Synovus Financial Corp. reported diluted earnings per share of $1.18 for the third quarter of 2024, compared to $0.60 in 3Q23. Adjusted diluted earnings per share were $1.23 versus $0.84 in 3Q23. The company's net income available to common shareholders was $169.6 million, and adjusted net income was $177.1 million.

Synovus Financial Corp. reported net income available to common shareholders of $114.8 million, or $0.78 per diluted share, for the quarter ended March 31, 2024. The results reflect progress on strategic priorities, including loan and core deposit growth, client non-interest revenue growth, and expense control. The company's CET1 ratio rose sequentially to 10.38%.

Synovus reported a decrease in net income available to common shareholders to $60.6 million, or $0.41 per diluted share, compared to $1.35 in Q4 2022. Adjusted diluted earnings per share were $0.80, also down from $1.35 in the prior year. The results were impacted by a $51 million FDIC special assessment. Core deposits increased, and the CET1 ratio rose sequentially to 10.22%.

Synovus Financial Corp. reported financial results for Q3 2023, with diluted earnings per share of $0.60 and adjusted diluted earnings per share of $0.84. The company completed sales of third-party consumer loans and medical office building loans, while total revenue declined by 5% year-over-year. Deposits increased, and the CET1 ratio rose to 10.13%.

Synovus Financial Corp. reported financial results for the quarter ended June 30, 2023, with total revenue of $567.8 million, an increase of 9% compared to the second quarter 2022. Diluted earnings per share were $1.13, while adjusted diluted earnings per share were $1.16.

Synovus Financial Corp. reported a strong first quarter in 2023, marked by a 30% increase in pre-provision net revenue year over year, driven by loan growth and higher interest rates. The company's total revenue increased by 23% compared to the first quarter of 2022, and total deposits increased sequentially by $1.08 billion.

Synovus Financial Corp. reported strong financial results for Q4 2022, with net income available to common shareholders at $197.5 million, or $1.35 per diluted share. Total revenue reached $603.8 million, marking a 19% increase compared to Q4 2021. The company's loan portfolio saw significant growth, and deposit levels also increased during the quarter.

Synovus Financial Corp. reported a strong third quarter with diluted earnings per share of $1.33, up from $1.21 in 3Q21. Total revenue increased by 16% year-over-year to $582.2 million, driven by strong loan growth and higher interest rates. Pre-provision net revenue was up 24% year-over-year, and credit quality remained solid.

Synovus Financial Corp. reported second quarter results with revenues of $523 million, up 7% year-over-year, driven by double-digit loan growth and margin expansion. Net income available to common shareholders was $169.8 million, or $1.16 per diluted share. The company saw growth in core operating deposit relationships and non-interest bearing deposits.

Synovus Financial Corp. reported strong execution against profitable growth objectives in Q1 2022, with 11% annualized loan growth and a 9% year-over-year increase in adjusted pre-provision net revenue. The company has increased its financial expectations for 2022.

Synovus Financial Corp. reported a strong fourth quarter in 2021, with diluted earnings per share of $1.31 and adjusted diluted earnings per share of $1.35. The company experienced broad-based loan growth and continued growth in fee income businesses.

Synovus Financial Corp. reported strong financial results for the third quarter of 2021, with net income available to common shareholders of $178.5 million, or $1.21 per diluted share. The company saw growth in loans (excluding PPP), core transaction deposits, and pre-provision net revenue. Synovus also achieved a pre-tax run rate benefit of approximately $100 million from its Synovus Forward initiatives.

Synovus Financial Corp. reported a net income available to common shareholders of $177.9 million, or $1.19 per diluted share, for the second quarter of 2021. Adjusted diluted EPS was $1.20. Revenue growth was driven by an increase in net interest income. The credit outlook improved, and the company remained focused on growth drivers while maintaining expense discipline.

Synovus Financial Corp. reported a net income available to common shareholders of $178.8 million, or $1.19 per diluted share, for the quarter ended March 31, 2021. The company saw an increase in period-end loans and core transaction deposits, while maintaining stable credit quality metrics.

Synovus Financial Corp. reported net income available to common shareholders of $142.1 million, or $0.96 per diluted share, for the fourth quarter of 2020. Adjusted earnings per diluted share were $1.08. Period-end deposit growth of $2.03 billion or 5% from the third quarter. Net interest income of $385.9 million increased $8.9 million or 2% sequentially.

Synovus Financial Corp. reported diluted earnings per share of $0.56 and adjusted diluted earnings per share of $0.89 for the third quarter of 2020. The quarter was marked by strong operating performance, including growth in core transaction deposits and adjusted fee income, as well as disciplined expense management.

Synovus reported diluted EPS of $0.57 and adjusted diluted EPS of $0.23. The company experienced loan growth and deposit increases, supported by PPP loans. Net interest income saw a slight increase, while non-interest revenue rose significantly due to investment gains.

Synovus Financial Corp. reported a diluted EPS of $0.20 and an adjusted diluted EPS of $0.21 for Q1 2020. The company saw sequential loan growth and an increase in core transaction deposits. However, net interest margin decreased, and the provision for credit losses increased significantly due to the COVID-19 healthcare crisis and the adoption of CECL.

Synovus Financial Corp. reported a diluted EPS of $0.97 and an adjusted diluted EPS of $0.94 for Q4 2019. Period-end loan and deposit growth were $744.6 million and $972.4 million, respectively. The company repurchased $36.5 million in common stock during the quarter and the board approved a 10% increase in the quarterly common stock dividend.