Synovus Financial Corp. - SNV STOCK NEWS

Synovus Financial Corp has announced the appointment of Anne Fortner as executive vice president and chief credit officer, effective March 31, 2025. Fortner, currently senior vice president and deputy chief credit officer, will succeed Bob Derrick, who is retiring after serving as chief credit officer since 2019. In her new role, Fortner will oversee asset quality, loan policy administration, and credit risk management. She brings 17 years of experience at Synovus and previous commercial banking experience from SouthTrust Bank and Wachovia. The company, based in Columbus, Georgia, manages approximately $60 billion in assets and operates across five states.

Synovus Financial Corp. (NYSE: SNV) has announced the pricing of a $500 million senior notes offering due 2030. The notes will carry a fixed interest rate of 6.168% from November 1, 2024, to November 1, 2029, followed by a floating rate based on SOFR plus 2.347% until November 1, 2030. The offering is expected to close on November 1, 2024. The company plans to use the proceeds for general corporate purposes, including potential debt repayment. BofA Securities and Morgan Stanley are serving as the active joint book-running managers for the offering.

Synovus Financial Corp (NYSE: SNV) has announced an underwritten public offering of senior notes due 2030. The company plans to use the net proceeds for general corporate purposes, including potential repayment of existing debt. BofA Securities and Morgan Stanley will serve as active joint book-running managers, while Synovus Securities will act as a passive book-running manager. The offering is being conducted under an effective registration statement under the Securities Act of 1933.

Synovus Bank has appointed Rick Arbuckle as senior director, middle market for wholesale banking. In this new role, Arbuckle will develop and manage a legal fiduciary services platform providing depository banking and cash management services to professional fiduciaries nationwide. With over three decades of experience, Arbuckle has specialized in creating banking services for professional fiduciaries and pioneered electronic banking solutions for trustees, receivers, and bankruptcy courts. Prior to joining Synovus, he spent 11 years at East West Bank building a national sales platform and held positions at Bank of NY Mellon and Bank of America.

Synovus Financial Corp. (NYSE: SNV) has announced its participation in the BancAnalysts Association of Boston Conference on Nov. 7, 2024. Chairman, CEO and President Kevin Blair and Executive Vice President and CFO Jamie Gregory will engage in a fireside chat at 12:45 p.m. ET. A live webcast and replay will be available on the company's investor relations website.

Synovus, based in Columbus, Georgia, is a financial services company with approximately $60 billion in assets. The company offers a wide range of services including commercial and consumer banking, wealth management, treasury management, and specialized lending. Synovus operates branches across five southeastern states and is recognized as a Great Place to Work-Certified Company.

Synovus Financial Corp. (NYSE: SNV) reported strong third quarter 2024 earnings, with diluted earnings per share of $1.18, up from $0.60 in 3Q23. Adjusted diluted EPS reached $1.23, compared to $0.84 in 3Q23. The company posted an adjusted return on average assets of 1.3% and adjusted return on tangible common equity of 17.1%.

Key highlights include:

• Net income available to common shareholders: $169.6 million
• Pre-provision net revenue: $251.0 million, up 28% year-over-year
• Net interest income increased 1% sequentially to $440.7 million
• Period-end loans rose $27.3 million from Q2 2024
• Core deposits increased $294.6 million sequentially to $45.1 billion
• Non-interest revenue grew 16% year-over-year to $124.0 million
• Provision for credit losses declined 68% year-over-year to $23.4 million
• Preliminary CET1 ratio improved to 10.65%

Synovus has announced a $125,000 donation to the American Red Cross for Hurricane Helene disaster relief. The donation aims to support immediate needs of affected individuals and families. Synovus CEO Kevin Blair emphasized the company's commitment to community care. Additionally, Synovus is offering support to its team members affected by the hurricane through the Here Matters Disaster Relief Fund. The company's employees will also engage in volunteerism for relief and recovery efforts in impacted communities.

Synovus Bank, an FDIC-insured institution, provides a range of banking services including commercial, consumer, private banking, treasury management, wealth management, mortgage services, and more. The bank operates branches across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Bank has appointed Tommy Flinn as market executive for upstate South Carolina, covering Greenville and Spartanburg, effective Sept. 30. Flinn will lead banking teams in offering strategic financial solutions to clients in the region and support community outreach initiatives. He will report to Charlie Clark, president of the community bank.

Flinn brings over 15 years of experience in commercial banking, previously serving as senior vice president of commercial banking at First Citizens Bank. He has also held leadership positions at PNC Financial Services Group and BB&T. Flinn is actively involved in the community, serving on boards including Safe Harbor, Meals on Wheels Endowment, and the Greenville Zoo Foundation.

Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and consumer banking services across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV), a Columbus, Georgia-based financial services company with approximately $60 billion in assets, has announced it will release its third quarter 2024 earnings results after market close on Wednesday, October 16, 2024. The company will host a conference call at 8:30 a.m. ET on Thursday, October 17, 2024. A live audio webcast, listen-only conference call, and presentation deck will be available on the company's investor relations website. Synovus provides commercial and consumer banking services, along with specialized products including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets, and international banking. The company operates branches across Georgia, Alabama, South Carolina, Florida, and Tennessee.