Synovus Financial Corp.'s (SNV) emphasis on expanding its corporate, investment and middle-market commercial banking verticals is set to support its financials in the upcoming quarters. Balance sheet strength and strong liquidity position are other positives. However, escalating expenses due to investments in technology and a steady decline in mortgage banking income are near-term headwinds. SNV is focused on its organic growth strategy. The company aims to expand its corporate and investment banking and mi ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 Commission file number 1-10312 ______________________________ SYNOVUS FINANCIAL CORP. (Exact name of registrant as specified in its charter) ______________________________ Georgia 58-1134883 (State or other jurisdiction of incorporat ...

I t I I I T I I t I 0 i Bank Financials Interest Income and Expense $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 Q1 19 Q3 19 Q1 20 Q1 21 Q1 22 Q1 24 Q3 20 Q3 21 Q3 22 Q1 23 Q3 23 =Int Income -Int Expense Bank Financials | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------|-----------------|-------|-------|-------------|---------------------|-------|-------|---------------------|-------|-------|-------|-------| | | | | | | Changes in Loans | | | | | | | | | 14% | | | | ...

| --- | |-----------------------------------------------| | | | Jennifer Demba - Head of Investor Relations | | Kevin Blair - Chairman, President and CEO | | Jamie Gregory - CFO | | Robert Derrick - Chief Credit Officer | | Conference Call Participants | | Ebrahim Poonawala - Bank of America | | Steven Alexopoulos - JPMorgan | | Jared Shaw - Barclays Capital | | Manan Gosalia - Morgan Stanley | | Brandon King - Truist Securities | | Timur Braziler - Wells Fargo | | Michael Rose - Raymond James | | Catherine ...

$43,310 $(195) $21 $(43) 1Q24 C&I CRE Consumer 2Q24 Loan Loss Provision and Net Charge-Offs ($ in millions) $39 $73 $45 $54 $26 $26 $67 $42 $44$34 2Q23 3Q23 4Q23 1Q24 2Q24 Provision for Credit Losses Net Charge-Offs Loan Sale Charge-Offs NCO Ratio: Amounts may not total due to rounding • Continue to expect flat to down NCOs/average loans in 2H24 versus 0.36% in 1H24 Allowance for Credit Losses $527 $533 $537 $546 $538 1.19% 1.22% 1.24% 2Q23 3Q23 4Q23 1Q24 2Q24 ($ in millions) Allowance for Credit Losses ACL ...

Provision for credit losses was $26.4 million, which decreased 32.1% year over year. Results benefited from a fall in expenses and provisions for credit losses, along with strong capital ratios. However, a decline in net interest income (NII) and lower loan and deposit balances were major headwinds. Total revenues in the second quarter were $306.1 million, plunging 46.1% from the prior-year quarter. Also, the top line missed the Zacks Consensus Estimate of $496.6 million. Non-interest revenues were a negati ...

Synovus Financial (SNV) reported $306.15 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 46.1%. EPS of $1.16 for the same period compares to $1.16 a year ago. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Here is how Synovus performed in the just reported quarter in terms o ...

Synovus Financial (SNV) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates just once. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on ...

| --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------|-------|------------------------|----------------------|-------------------------------------|-----------------------------------| | (Dollars in thousands, except per share data) \nInterest income | $ | 2024 1,583,952 | Six Months \n $ | Ended June 30, \n2023 1,476,022 | '24 vs '23 \n% Change 7 % | | Interest expense Net interest income Provisio ...