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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%.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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