Synovus Q1 2024 Earnings Report
Key Takeaways
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%.
Net income available to common shareholders was $114.8 million, or $0.78 per diluted share.
Pre-provision net revenue increased $79.2 million, or 58%, sequentially.
Period-end core deposits ended the quarter at $44.9 billion, an increase of $165.1 million sequentially.
The preliminary CET1 ratio rose sequentially to 10.38%.
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Synovus Revenue by Segment
Forward Guidance
Synovus Financial Corp. did not provide specific forward guidance in the earnings report. The report focused on the results of the first quarter of 2024 and strategic priorities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income