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Dec 31, 2022
Synovus Q4 2022 Earnings Report
Synovus reported fourth quarter earnings with diluted earnings per share of $1.35, up from $1.33 in 3Q22, and total revenue of $603.8 million, a 4% increase sequentially.
Key Takeaways
Synovus Financial Corp. reported strong financial results for Q4 2022, with net income available to common shareholders at $197.5 million, or $1.35 per diluted share. Total revenue reached $603.8 million, marking a 19% increase compared to Q4 2021. The company's loan portfolio saw significant growth, and deposit levels also increased during the quarter.
Net income available to common shareholders was $197.5 million, or $1.35 per diluted share, up $0.02 sequentially and up $0.04 compared to the fourth quarter 2021.
Total revenue of $603.8 million increased $21.6 million, or 4%, sequentially and was up $94.4 million, or 19%, compared to the fourth quarter 2021.
Period-end loans increased $1.14 billion, or 3%, representing a growth rate of 11% annualized.
Period-end deposits grew $1.17 billion, or 2%, sequentially, with core deposits increasing $372.8 million, or 1%.
Synovus
Synovus
Synovus Revenue by Segment
Revenue by Segment
Commercial & Industrial loans Revenue
CapyFin.comCommercial real estate loans Revenue
CapyFin.comConsumer loans Revenue
CapyFin.com Forward Guidance
Synovus is focused on executing its strategies to drive profitable growth, enhance service quality, and deepen client relationships. The company aims to maintain a resilient risk profile, generate broad-based deposit growth, and uphold strong credit vigilance amidst economic uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income