Synovus Financial Corp. - SNV STOCK NEWS

Synovus Financial Corp. (SNV) has released its 2023 Annual Report, showcasing progress on strategic priorities, investments, and client-centric approach. CEO Kevin Blair emphasizes commitment to clients amidst challenges.

Synovus launches AccelerateTM Pay, a new payment solution for commercial banking clients, offering various payment types while reducing check usage. Clients can choose payment methods, including checks and e-checks. The solution simplifies business-to-business payments, integrates with existing systems, and provides fraud mitigation. Synovus partners with Echo Health Inc. and DPX Payments for this offering.

Synovus Financial Corp. (SNV) will announce its first quarter 2024 earnings results, with a conference call scheduled for April 18, 2024. The company, based in Columbus, Georgia, has around $60 billion in assets, offering a range of financial services across multiple states.

Synovus Bank appoints Jonathan O'Connor as chief third-party payments officer and CEO of Maast to drive growth and expand banking-as-a-service solutions. O'Connor's extensive fintech experience will enhance Synovus' position in the payments industry.

Synovus Financial Corp. (NYSE: SNV) declares quarterly dividends for its common stock and preferred stocks. The company offers financial services with $60 billion in assets, including banking, wealth management, and international services.

Synovus Bank wins 25 awards from Coalition Greenwich for exceptional service to small business and middle market clients in 2023.

Synovus Financial Corp. (SNV) CEO Kevin Blair to participate in fireside chat at BofA Securities Financial Services Conference. Synovus is a financial services company with $60 billion in assets, providing commercial and consumer banking, private banking, wealth management, and more.

Synovus Financial Corp. (NYSE: SNV) reported financial results for the quarter and year ended Dec. 31, 2023. The net income available to common shareholders for 2023 was $507.8 million, or $3.46 per diluted share, compared to $724.7 million, or $4.95 per diluted share in 2022. Adjusted EPS for 2023 was $4.12 per diluted share compared to $4.93 per diluted share in 2022. The $51 million FDIC special assessment incurred during the fourth quarter 2023 reduced reported and adjusted EPS by $0.26. The preliminary year-end CET1 ratio increased 59 basis points year over year to 10.22%. Synovus sold $422 million in third-party consumer loans and $1.2 billion in medical office building loans with the proceeds used to pay down wholesale borrowings. Period-end loans declined $311.9 million, or 1%, in 2023 as commercial and industrial growth was more than offset by declines in commercial real estate and consumer loans. Period-end deposits increased $1.87 billion, or 4%, primarily driven by growth in time deposits and interest-bearing demand deposits, partially offset by a decline in non-interest-bearing deposits. Non-interest expense was $1.34 billion, up 15%, and adjusted non-interest expense increased 9% year over year in 2023 to $1.26 billion, but was significantly impacted by the $51 million FDIC special assessment.

Synovus Financial Corp. (NYSE: SNV) will release its fourth quarter 2023 earnings results on Wednesday, Jan. 17, 2024, and hold a conference call on Thursday, Jan. 18. The company, based in Columbus, Georgia, has approximately $59 billion in assets and offers a wide range of financial services, including commercial and consumer banking, private banking, wealth management, and international banking.