Synovus Q3 2022 Earnings Report
Key Takeaways
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.
Net income available to common shareholders was $194.8 million, or $1.33 per diluted share, up sequentially and compared to the prior year.
Total revenue increased to $582.2 million, driven by strong loan growth and higher interest rates.
Pre-provision net revenue increased to $288.2 million, up 24% compared to the prior year.
Period-end loans increased by $1.37 billion sequentially, with growth diversified across asset classes and commercial business lines.
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Synovus Revenue by Segment
Forward Guidance
Synovus is committed to its path forward by investing in core and new business initiatives while prioritizing credit, capital, and liquidity management.
Revenue & Expenses
Visualization of income flow from segment revenue to net income