Synovus' (SNV) Organic Expansion Drives Growth, High Costs Ail

The company benefits from high interest rates. Its net interest income (NII) has seen a steady uptrend in the past few years. Management expects NII to improve in the second half of 2024, backed by fixed-rate investment securities portfolio repositioning, high asset yields and a decline in funding costs. Decent loan demand will also offer support to NII, thus driving top-line growth. As of Mar 31, 2024, SNV's total debt was $2.03 billion while cash and cash equivalents were $2.42 billion. Thus, given the co ...