Synovus Q2 2020 Earnings Report
Key Takeaways
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.
Diluted EPS was $0.57, with adjusted diluted EPS at $0.23.
Period-end loan growth reached $1.66 billion, a 4.3% sequential increase, including significant PPP loan activity.
Core transaction deposits increased by $4.63 billion, or 18.7% sequentially.
Non-interest revenue increased by $69.6 million sequentially, driven by investment gains.
Synovus
Synovus
Synovus Revenue by Segment
Forward Guidance
Synovus did not provide specific forward guidance in the earnings report. The report highlighted the company's commitment to investing in the future, focusing on efficiencies, digital enhancements, and customer experience through Synovus Forward initiatives. They also addressed their commitment to bringing strength and positive change to communities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income