Synovus Q2 2022 Earnings Report
Key Takeaways
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.
Net income available to common shareholders was $169.8 million, or $1.16 per diluted share, up $0.05 sequentially and down $0.03 compared to prior year.
Adjusted diluted EPS was $1.17, up $0.09 sequentially and down $0.03 compared to prior year.
Total revenue of $522.7 million increased $33.7 million, or 7%, compared to prior year.
Period-end loans increased $1.04 billion sequentially, and $1.15 billion, or 12% annualized, excluding PPP loans.
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Forward Guidance
Synovus Financial Corp. is navigating the present environment while building an even stronger bank for the future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income