Synovus Financia Stock Price, News & Analysis

Synovus Financial Corp. (NYSE: SNV) reported its financial results for the quarter and year ended December 31, 2022. Net income was $724.7 million, or $4.95 per diluted share, slightly down from $727.3 million in 2021. Pre-provision net revenue rose 19% to $1.05 billion, bolstered by strong loan growth. However, period-end deposits decreased by $555.7 million, or 1%, due to pricing pressures. The company achieved a preliminary CET1 ratio of 9.63%. Despite a challenging economic outlook for 2023, the firm remains committed to growth and enhancing client relationships, emphasizing stability and credit quality throughout the organization.

Synovus Bank has entered a three-year partnership with PGA Tour winner Russell Henley and artist Teil Duncan Henley. The partnership aims to showcase their stories through various content, with the Synovus logo set to debut on Russell's apparel at the 2023 Sentry Tournament of Champions on January 5 in Maui, Hawaii. Headquartered in Columbus, Georgia, where the Henleys reside, Synovus emphasizes its commitment to community involvement and support for clients, as articulated by Liz Wolverton, head of consumer banking. Russell and Teil aim to inspire through their successes.

Synovus Financial Corp. (NYSE: SNV) will release its fourth quarter 2022 results on January 19, 2023, followed by an earnings conference call at 8:30 a.m. ET. An earnings press release will precede the call, and interested parties can access a live audio webcast and related materials through the company’s investor relations website. Synovus, headquartered in Columbus, Georgia, manages approximately $59 billion in assets, offering a broad range of financial services across several states, including commercial and consumer banking.

Synovus Financial Corp. (NYSE: SNV) has appointed Michael Colasso as the new enterprise and operational risk executive director, enhancing its risk management capabilities. Colasso, who has over 15 years of experience, reports to Chief Risk Officer Shellie Creson in Atlanta, Georgia. His role focuses on strategic design and execution of risk programs. Previously, he led enterprise risk management at Truist and worked with the Federal Reserve Bank of Atlanta. With approximately $59 billion in assets, Synovus offers diverse financial services across multiple states.

Synovus Financial Corp. (NYSE:SNV) has announced that Kevin Blair will take over as chairman of the board, effective January 1, 2023. Blair, who has been the President and CEO since April 2021, succeeds Kessel D. Stelling, who is retiring as chairman. Stelling will continue to serve in an advisory capacity until January 1, 2025. Under Stelling's leadership since 2012, Synovus has emphasized strong governance practices. Synovus, based in Columbus, Georgia, manages approximately $59 billion in assets and offers a wide range of financial services.

The board of directors of Synovus Financial Corp. (NYSE: SNV) has declared quarterly dividends:

• $0.34 per share on common stock, payable on Jan. 3, 2023, to shareholders of record by Dec. 15, 2022.
• $0.39375 per share on Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, payable on Dec. 21, 2022.
• $0.3671875 per share on Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, payable on Jan. 3, 2023.

Synovus has launched Synovus Accelerate™ FX, a comprehensive foreign exchange solution designed to enhance international banking services. This innovative platform, facilitated through the Synovus Gateway℠, supports efficient foreign exchange payments and trading. Powered by fintech partner Finzly, it offers clients a secure self-service portal for managing currency transactions without banker interaction. Features include multicurrency accounts and streamlined workflows for pricing, trading, risk management, and compliance, aiming to improve business decision-making and cash conversion cycles.

Synovus Financial Corp. (NYSE: SNV) President and CEO Kevin Blair is set to present at the Goldman Sachs 2022 U.S. Financial Services Conference on December 7, 2022, at 3 p.m. ET. A live webcast will be available on the company's Investor Relations website.

Based in Columbus, Georgia, Synovus has approximately $59 billion in assets and offers a comprehensive range of banking and financial services. The firm operates 254 branches across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV) announced the hiring of Stephanie Wise as the Bank Secrecy Act and Anti-Money Laundering executive director, effective Oct. 31, 2022. Wise, based in Atlanta, Georgia, has over 20 years of experience in financial compliance and previously worked at Walmart and SunTrust. Her role emphasizes compliance with financial crimes regulations, reinforcing Synovus’ risk culture and client confidence.