Banking products are provided by Synovus Bank, Member FDIC. The computations of these measures are set forth in the attached tables. This communication is directed to properties in those states. Total deposits ended the quarter at $49.03 billion, up $378.5 million sequentially, impacted by seasonal effects and rate-driven outflows of $803.9 million and $358.3 million, respectively, in money-market and interest-bearing demand deposit accounts and offset by the use of brokered deposits as a cost-effective balance sheet and liquidity management tool. Cal Evan -- Head of Investor Relations Thank you, and good morning. Non-interest revenue, excluding securities gains, increased $23.3 million or 5% year over year, reflecting strong growth in core banking fees and wealth revenue, offset by the normalization of net mortgage revenue. Insurance products marketed through Synovus and its affiliated companies are underwritten by insurance companies not affiliated with Synovus. "We are pleased with our second quarter results and financial metrics, which reflect the efforts of our team to expand client relationships and attract new business," said Synovus President and CEO Kevin Blair. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. (844) 240-0999 By Clicking continue above, you will be leaving Synovus.com to visit Covr's life insurance site. CRE loans declined $172.9 million as the recovery in commercial real estate continues. Synovus Securities,Inc. Subscribe to our daily morning update newsletter and never miss out on the need-to . Period-end loan growth of $2.9 billion or 8% excluding Paycheck Protection Program (PPP) loans. Period-end loan growth of $1.4 billion or 4% quarter over quarter, excluding the reduction in PPP loans. Adjusted non-interest expense increased $18.5 million or 7% from the prior quarter. Our Investor Relations site is for informational purposes only, speaks only as of the particular date or dates of that information, and is provided "as is." Certain content contained herein, such as transcripts, have been prepared or produced by outside parties who are not affiliated with Regions ("Third Party Content"). Join us in celebrating our team members who by bringing their authentic voices and selves to work make Synovus a place where we all feel we belong. Continue Or if you have questions, please call the number below. Parts 1024.35 and 1024.36, then you must send written notice to us at Synovus Bank, Attention: Mortgage Customer Service, 800 Shades Creek Parkway, MS 130, Birmingham, AL 35209. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. The information you enter may be retained by these companies and may be shared with insurance companies. Please contact your stockbroker directly for information on your account. Quarter-over-quarter and year-over-year declines were primarily related to a $7 million write-down on a minority fintech investment and a challenging mortgage banking environment, partially offset by increases in wealth revenue, capital markets, and card fee income categories. You can obtain more information about SSI and its Registered Representatives by accessing BrokerCheck. You have certain rights under Federal law related to resolving errors and requesting information about your mortgage account, and you may learn more about your rights by contacting Synovus Bank, or by visiting https://www.consumerfinance.gov/mortgage/. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. 404-364-2739. kevinsuchecki@synovus.com. The replay will be archived for 12 months and will be available 30-45 minutes after the call. Notifications. receives compensation from insurance companies or their affiliates in the form of commissions. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Total deposits ended the quarter at $49.4 billion, an increase of $1.7 billion or 4% sequentially. Offers an Optional Service And we remained focused on growth drivers in the quarter while maintaining discipline around expenses, which declined 5% from the second quarter of 2020. The margin was negatively impacted by a reduction of PPP fees which contributed 7 basis points to the quarter over quarter decline. Many of these factors are beyond Synovus ability to control or predict. These forward-looking statements are based upon information presently known to Synovus management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2020, under the captions Cautionary Notice Regarding Forward-Looking Statements and Risk Factors and in Synovus quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. Investor Contact: Alison Dowe. 2021 was another challenging year, but our teams were able to navigate the uncertain environment to support our clients, contribute to our communities and deliver for our shareholders. Continued growth in wealth revenue and one-time $8 million BOLI benefit offset declines in mortgage revenue. responsible for any of the content or additional links they contain. COLUMBUS, Ga., July 20, 2021 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2021. Synovus Bank, NMLS #408043. The information you enter may be retained by these companies and may be shared with insurance companies. . Loan products subject to credit approval. 2020 Synovus Financial Corp. All rights reserved. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. CRE loans increased $358.1 million sequentially, led by multi-family loans in addition to our Specialty Healthcare group. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total FTE revenue; efficiency ratio-FTE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; and the ratio of total shareholders' equity to total assets, respectively. Loan growth, excluding PPP loans, was $1.4 billion or 4% quarter over quarter. pre-split Synovus shares for post-split Synovus shares. These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. If you would like to assert there has been an error made with the servicing of your consumer mortgage loan, or if you would like to request information about the servicing of your consumer mortgage loan, and if you would like your assertion or request to be treated in accordance with the procedures provided in 12 C.F.R. Synovus Financial ( SNV -2.35%) Q2 2022 Earnings Call. Approval of any bank product or service is not contingent upon purchasing insurance from Synovus Bank. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total TE revenue; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and income before income taxes, respectively. Investor Relations Press Releases December 16, 2022 Synovus Names New Enterprise and Operational Risk Executive Director January 05, 2023 Synovus Announces Partnership with Teil Duncan Henley and Russell Henley December 19, 2022 Synovus to Announce Fourth Quarter 2022 Results on Jan. 19, 2023 December 16, 2022 https://www.consumerfinance.gov/mortgage/. You can identify these forward-looking statements through Synovus use of words such as believes, anticipates, expects, may, will, assumes, should, predicts, could, would, intends, targets, estimates, projects, plans, potential and other similar words and expressions of the future or otherwise regarding the outlook for Synovus future business and financial performance and/or the performance of the banking industry and economy in general. SSI is a subsidiary of Synovus Financial Corp. and an affiliate of Synovus Bank, and STC is a subsidiary of Synovus Bank. We expect our efforts to produce sustained profitable growth, positive operating leverage, and higher returns as we progress toward becoming a top quartile performing bank.. View source version on businesswire.com:. These forward-looking statements are based upon information presently known to Synovus management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December31, 2021, under the captions Cautionary Notice Regarding Forward-Looking Statements and Risk Factors and in Synovus quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. If you think youve been a victim of fraud, call 888-SYNOVUS (796-6887) immediately. Synovus Securities,Inc. ET. 2023 Synovus Financial Corp. All rights reserved. Third-party sites aren't under our control, and we're not Share this article: Stay In The Know. Our ongoing focus on growing core operating deposit relationships led to another quarter of account growth, as well as non-interest bearing deposit growth of $254 million.

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