Synovus Financial (SNV) - 2024 Q1 - Earnings Call Transcript

Our current forecast for core deposits indicates growth within a 2% to 6% range for the year, aided by seasonal tailwinds as the year progresses and new core funding growth initiatives. With the last FOMC rate increase now having occurred roughly nine months ago, we believe deposit costs are in the process of stabilizing, and with some residual upward pressure remaining into the second quarter should result in a peak total deposit beta for the cycle between 49% and 50%. We continue to closely monitor and ma ...