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Dec 31, 2023
Synovus Q4 2023 Earnings Report
Synovus reported mixed results with a decrease in net income and EPS compared to the previous year, but core deposits increased.
Key Takeaways
Synovus reported a decrease in net income available to common shareholders to $60.6 million, or $0.41 per diluted share, compared to $1.35 in Q4 2022. Adjusted diluted earnings per share were $0.80, also down from $1.35 in the prior year. The results were impacted by a $51 million FDIC special assessment. Core deposits increased, and the CET1 ratio rose sequentially to 10.22%.
Net income available to common shareholders was $60.6 million, or $0.41 per diluted share.
Adjusted diluted earnings per share were $0.80.
Core deposits increased by $714.1 million, or 2%, sequentially.
The $51 million FDIC special assessment impacted reported and adjusted EPS by $0.26.
Revenue by Segment
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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