Core Viewpoint - Analysts forecast that Synovus Financial (SNV) will report quarterly earnings of $1.25 per share, reflecting a year-over-year increase of 7.8%, with revenues expected to reach $583.84 million, a 90.7% increase compared to the previous year [1] Earnings Projections - Over the last 30 days, there has been a 1% upward revision in the consensus EPS estimate for the quarter, indicating analysts' reassessment of their initial forecasts [2] - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3] Key Metrics Forecast - Analysts project the 'Net interest margin, taxable equivalent' to be 3.3%, up from 3.2% in the same quarter last year [5] - The 'Efficiency ratio - TE' is expected to be 53.6%, a significant improvement from 98.2% reported in the same quarter last year [5] - The estimated 'Average Balance - Total interest earning assets' is $55.51 billion, compared to $54.85 billion in the same quarter last year [6] - 'Non-performing Assets (NPAs)' are projected to reach $289.74 million, up from $256.93 million a year ago [6] - 'Non-performing Loans (NPLs)' are expected to be $288.95 million, compared to $256.11 million in the same quarter last year [7] - The 'Tier 1 Capital Ratio' is forecasted at 11.3%, down from 11.7% reported in the same quarter last year [7] Income Estimates - The consensus estimate for 'Net interest income taxable equivalent' is $466.25 million, compared to $436.35 million in the same quarter last year [8] - 'Net Interest Income' is expected to be $462.13 million, up from $435.00 million in the same quarter last year [8] - 'Mortgage banking income' is projected at $4.47 million, compared to $3.94 million in the same quarter last year [9] - 'Service charges on deposit accounts' are expected to be $23.38 million, up from $22.91 million a year ago [9] - 'Fiduciary and asset management fees' are estimated at $20.08 million, compared to $19.73 million last year [10] - 'Capital markets income' is forecasted at $8.37 million, down from $15.08 million in the same quarter last year [10] Stock Performance - Over the past month, Synovus shares have returned +13.5%, outperforming the Zacks S&P 500 composite's +4.1% change, indicating a likely performance that aligns with the overall market in the upcoming period [11]

Mr. . Bellski, what's your final trade, sir. Been good having you.Hey, thanks a lot for having us. Uh, Senovas Financial, SNV, 10 times earnings, 12 times free cash flow. Okay, Shan.Uh, financials deregulation is going to be a very significant tailwind for the sector. Okay. You're welcome for us having you two.I mean, since Brian set the precedent, I mean, I feel like it's Thank you for having me. You're very welcome. You're very welcome, Jenny.Are you thankful to have me. Thank you. Go ahead.Next, Tara pre ...

Financial Performance & Growth - Synovus' diluted Earnings Per Share (EPS) increased from $189 in 2016 to $399 in Q1 2019, representing a 26% Compound Annual Growth Rate (CAGR)[39] - Adjusted Return on Average Tangible Common Equity (ROATCE) increased by 860 basis points from 852% in 2016 to 1752% in Q1 2019[39] - Synovus is targeting a sustained 10+% CAGR in EPS growth, with a Return on Assets (ROA) of approximately 145%, an adjusted tangible efficiency ratio of approximately 50%, and a Return on Tangible Common Equity (ROTCE) of approximately 170%[47, 48] - The company reported adjusted diluted EPS of $098 in Q1 2019, a 151% increase year-over-year[50] Merger & Acquisition - The merger with Florida Community Bank (FCB) significantly strengthens Synovus' Florida footprint, making it >1/3 of the pro forma franchise[34] - Synovus expects to surpass $30 million in FCB-related cost savings in 2019 and complete the full conversion in Q2 2019[63] - The FCB merger is projected to result in a ~17% Internal Rate of Return (IRR) and a ~17% ROATCE[124] Balance Sheet & Credit Quality - As of Q1 2019, Synovus had total assets of $47 billion and loans of $36 billion[22] - The company's loan growth in Q1 2019, including FCB, annualized to 46%, compared to a standalone Synovus loan growth of 16% in Q1 2018[128] - The Net Charge-Off (NCO) ratio was 019% in Q1 2019[55] 2019 Outlook - Synovus anticipates loan growth of 55% to 75% and revenue growth of 55% to 75% for 2019[60] - The company projects adjusted non-interest expense growth of 2% to 4% in 2019, excluding amortization of intangibles of approximately $14 million[60]

Financial Performance & Position - Synovus' total assets reached $53.0 billion[8] and loans amounted to $39.5 billion[8] as of 9/30/2020 - Deposits totaled $44.7 billion[8] and the market capitalization was $4.9 billion[8] as of 12/04/2020 - The company reported a return on average assets of 0.69% and an adjusted return on average assets of 1.05%[18,47] - YTD 3Q20 adjusted net interest income was $1,120.635 million, compared to $1,128.035 million in YTD 3Q19[10,48] - YTD 3Q20 adjusted non-interest revenue was $310.446 million, compared to $259.940 million in YTD 3Q19[10,48] Strategic Initiatives & Efficiencies - Synovus is committed to approximately $100 million run-rate benefit by year-end 2021 through Synovus Forward initiatives[38] - The company anticipates a $25 million pre-tax benefit from third-party spend optimization[32] - Customer analytics are expected to generate over $20 million in pre-tax benefits[39] - Branch and real estate optimization is projected to yield $12 million in pre-tax benefits, with 13 branch closures in 2020[39] Credit Quality & Capital - Allowance for credit losses was $665 million, representing 1.80% of loans excluding Paycheck Protection Program (PPP) loans[29] - Full principal and interest deferrals were less than 1% of total loans[29]

Strategic Pillars - Synovus is focusing on four strategic pillars: adopting high-tech meets high-touch, simplifying and streamlining processes, repositioning for advantage, and enhancing talent and culture[28, 29, 30, 33, 34] - Synovus aims to close an additional 15% of its branch network by the end of 2022, estimating run rate savings of $12 million from these closures[65] - Synovus launched a Structured Lending Division in 2019, adding $1 billion in loans and approximately $20 million in pre-provision net revenue (PPNR) within 2 years[53] Financial Performance & Metrics - Synovus' 3Q21 Year-to-Date (YTD) total loan growth, excluding PPP loans, was 42%, compared to a peer average of -05%[145] - Synovus' 3Q21 Year-to-Date (YTD) C&I loan growth, excluding PPP loans, was 48%, compared to a peer average of 16%[145] - Synovus' efficiency ratio (taxable-equivalent % of total assets) in 3Q21 was 552%, compared to a peer median of 577%[147] - Synovus' Risk Adjusted Net Interest Margin (NIM) in 3Q21 was 279%, while peers averaged 254%[149] - Synovus' Non-Interest Revenue (NIR) for 3Q21 Year-to-Date (YTD) was $333 million, with an adjusted NIR of $332 million[149] Investments & Initiatives - Synovus estimates expenses of $4-6 million for Corporate & Investment Banking (CIB) in 2022[59] - Synovus estimates expenses of $3-4 million for refining user experience in 2022[72] - Synovus estimates expenses of $4-6 million for client journeys in commercial credit reimagined in 2022[95] - Synovus estimates expenses of $3-4 million for SMART Next Best Action and SMART Retention in 2022[121] - Synovus estimates expenses of $10+ million for Banking-as-a-service in 2022[127]

Financial Performance Highlights - Diluted EPS increased by 259% year-over-year, reaching $043 in 4Q16[9] - Adjusted diluted EPS increased by 222% compared to 4Q15[14] - Total revenues increased by 82% year-over-year, reaching $3017 million in 4Q16[9] - Adjusted efficiency ratio improved by 181 basis points year-over-year to 6032% in 4Q16[9] Balance Sheet Growth - Total average loans grew by 73% year-over-year, reaching $2324 billion in 4Q16[12] - Total average deposits grew by 61% year-over-year in 4Q16[12] - Sequential quarter loan growth was $5935 million, representing a 101% increase[17] Credit Quality and Capital Management - NPL ratio improved by 11 basis points year-over-year in 4Q16[12] - Return on Average Tangible Common Equity (ROATCE) increased by 188 basis points year-over-year in 4Q16[12] - Completed a $300 million share repurchase program[14]

Financial Performance - Diluted EPS was $023 in 4Q17, compared to $078 in 3Q17 and $054 in 4Q16[20] - Adjusted diluted EPS was $072, up 107% vs 3Q17 and 324% vs 4Q16[20] - Return on Average Assets (ROA) was 037%, down 90 b p s vs 3Q17 and 53 b p s vs 4Q16[20] - Adjusted ROA was 112%, up 7 b p s vs 3Q17 and 21 b p s vs 4Q16[20] - Adjusted Return on Average Common Equity (ROE) of 1196% increased 246 b p s vs 4Q16[20] Balance Sheet Growth - Total average loans grew by $1117 million or 18% vs 3Q17 and $8887 million or 37% vs 4Q16[20] - Total average deposits grew by $9990 million or 157% vs 3Q17 and $162 billion or 66% vs 4Q16[20] - 4Q17 total average deposits of $2629 billion increased $9991 million or 157% vs 3Q17[32] Credit Quality and Capital Management - Non-Performing Assets (NPA) ratio of 053% improved 21 b p s from 4Q16[20] - Completed $392 million in common share repurchases during the quarter and $1751 million for the year[54] - The Board of Directors approved a 67% increase in the quarterly common stock dividend to $025 per share, effective with the quarterly dividend payable in April 2018[57, 74]

Company Overview - Synovus has a 135-year history of commercial and retail banking in the Southeast U S [6] - The company has $59 billion in assets, $44 billion in loans, and $50 billion in deposits [6] - Synovus completed the transition to a singularly branded Synovus name and platform in 2018 [6] Growth and Market Position - Growth markets account for 55% of loans outstanding and 42% of core deposits [16] - The company is expanding its presence in growing Southeast markets [17] - Since 2019, the company has increased RM count in Corporate & Investment Banking by 24% [45] Financial Performance and Strategy - The company is focused on long-term shareholder value creation [19] - Recent strategies are PPNR accretive and supportive to growth [27] - Wholesale Funding/Assets decreased by 14% from 2Q23 to 3Q23 [28] - Office CRE Loans/Total Loans decreased by 36% from 2Q23 to 3Q23 [28] - The company anticipates relatively flat adjusted expenses in 2024, with a 2022 baseline of $116 billion and a 2023 estimate of $122 billion [38]

Financial Performance & Strategy - Synovus is focused on long-term shareholder value creation[9] - Synovus completed the transition from multiple legacy banking platforms to a singularly branded Synovus name and platform[6] - Synovus launched Synovus Forward to further optimize revenue and reduce expenses[6] - Synovus is implementing a 4-pillar execution strategy[6] Loan Portfolio & Credit Quality - Synovus has a highly diverse loan mix as of 9/30/23, with Middle Market and Commercial loans comprising 29% of the portfolio[33, 34] - The company's total C&I portfolio was $228 billion as of 3Q23[62] - The CRE portfolio totaled $124 billion in 3Q23[70] - The consumer loan portfolio totaled $85 billion in 3Q23[80] 2024 Outlook & Guidance - Synovus anticipates NIM expansion of approximately +20 bps from 4Q23 to 4Q24[38] - The company expects adjusted non-interest expense to be relatively flat in 2024, excluding the impact of the 4Q23 FDIC special assessment[38, 41] - Synovus projects core deposit growth of 2%-6% for 2024[40]

Financial Performance & Growth - Middle market banker team grew by 7% YTD[18] - Middle Market, CIB and Specialty Lines generated 8% annualized loan growth[18] - Treasury and Payments Solutions revenue increased by 9% YTD[18] - CET1 Ratio increased by 38 bps to 1060% from 12/31/2023[18] Loan & Deposit Portfolio - Wholesale Bank core deposits increased by $257 million in "Go for the Gold" campaign[18] - Variable loans represent approximately 62% (~$26 billion) of the total loan portfolio as of June 30, 2024[21] - Non-Interest Bearing Deposits account for 23% of the total deposit portfolio as of June 30, 2024[21] Credit Quality & Risk Management - Net charge-offs/average loans contained at 036% YTD (annualized)[18] - Allowance for Credit Losses (ACL) increased modestly to 125% of loans from YE 2023[18] - Office Loans account for 42% of Total Loans[40] Guidance - Adjusted revenue is expected to be $555 - $560 million in 3Q24[49] - Adjusted non-interest revenue is projected to be $115 – $120 million in 3Q24[49] - Adjusted non-interest expense is guided to be $305 - $310 million in 3Q24[49]