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Sep 30, 2024
Synovus Q3 2024 Earnings Report
Synovus's third quarter earnings demonstrated strong fundamental trends with an adjusted return on average assets of 1.3% and an adjusted return on tangible common equity of 17.1%.
Key Takeaways
Synovus Financial Corp. reported diluted earnings per share of $1.18 for the third quarter of 2024, compared to $0.60 in 3Q23. Adjusted diluted earnings per share were $1.23 versus $0.84 in 3Q23. The company's net income available to common shareholders was $169.6 million, and adjusted net income was $177.1 million.
Net income available to common shareholders was $169.6 million, or $1.18 per diluted share.
Adjusted net income available to common shareholders was $177.1 million, or $1.23 per diluted share.
Pre-provision net revenue was $251.0 million, up 28% compared to third quarter 2023.
Period-end core deposits were $45.1 billion, an increase of $294.6 million sequentially.
Synovus
Synovus
Forward Guidance
Synovus Chairman, CEO and President Kevin Blair remains optimistic about the company's ability to accelerate growth given increased loan production and sustained strong core fee generation.