Synovus Financial (US:SNV)2025-07-04 14:38Strategic 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]