Synovus Q3 2020 Earnings Report
Key Takeaways
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.
Diluted EPS was $0.56, and adjusted diluted EPS was $0.89.
Core transaction deposits increased by $1.56 billion or 5% sequentially.
Total deposit costs decreased by 14 bps from the second quarter to 0.39%.
CET1 and Total Risk Based Capital ratios improved to 9.30% and 13.16%, respectively.
Synovus
Synovus
Forward Guidance
Synovus is well-positioned for the fourth quarter and coming year due to the responsiveness of team members, unwavering support of customers, the effectiveness of the local relationship delivery model, and an improving economy.