Synovus Financial Corp. - SNV STOCK NEWS

Synovus Financial Corp. (NYSE: SNV) reported its Q2 2021 financial results, with net income of $177.9 million ($1.19 per diluted share), up $0.62 YoY. Adjusted diluted EPS was $1.20, a minor drop from Q1. Total loans decreased by $569.1 million (1%) due to a decline in PPP loans. Total deposits were $47.17 billion, down slightly, yet core transaction deposits rose by 2%. Net interest income increased to $381.9 million, while non-interest revenue fell 3%. A provision reversal of $24.6 million reflects a positive credit outlook. The CET1 ratio improved to 9.75% amidst share repurchases.

Synovus Financial Corp. (NYSE: SNV) is set to release its second quarter 2021 results on July 20, 2021. An earnings press release will precede the conference call starting at 8:30 a.m. ET. Investors can access a live audio webcast and related slides at investor.synovus.com/event. The company, headquartered in Columbus, Georgia, manages approximately $55 billion in assets and operates 285 branches across five states, offering a range of financial services.

Synovus Financial Corp has declared quarterly dividends for shareholders. The dividends include $0.33 per share on common stock, payable on July 1, 2021, to shareholders of record as of June 17, 2021. Additionally, $0.39375 per share for Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, payable on June 21, 2021, and $0.3671875 per share for Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, payable on July 1, 2021, to shareholders of record as of June 15, 2021. Synovus holds approximately $55 billion in assets and serves customers across five states.

Synovus announces the launch of Synovus Accelerate AR, a comprehensive receivables suite designed to enhance working capital access and streamline payment processing. In collaboration with Deluxe, this solution includes features like the AR Console, AR Match, AR Biller, and AR Aggregator, all aimed at improving cash flow and operational efficiency. This partnership, lasting over two decades, underscores Synovus's commitment to meeting evolving business needs.

Synovus Bank has appointed Jody Patton as CEO of its Northeast Georgia Division, effective July 1. Patton, who has nearly 30 years of banking experience, succeeds Bill Douglas, who will retire after 36 years with the company. Douglas will remain as chairman of the Northeast Georgia Division Advisory Board. Synovus Bank, a Georgia-chartered and FDIC-insured institution operating 285 branches, focuses on commercial and retail banking, investment, and mortgage services.

Synovus Financial Corp (NYSE: SNV) has appointed Sharon Goodwine as executive vice president and chief human resources officer, effective May 17. Goodwine, who previously served at Wells Fargo, will take over from Debra Stanford, the interim CHRO since December 2019. With over two decades of HR experience, Goodwine is expected to enhance Synovus' HR functions. Additionally, Jennifer Upshaw has been appointed as chief of staff to CEO Kevin Blair. Synovus, based in Columbus, Georgia, has approximately $55 billion in assets and operates 285 branches across five states.

Synovus Financial Corp. (NYSE: SNV) reported strong financial results for Q1 2021, with net income of $178.8 million, or $1.19 per diluted share, reflecting a sequential increase of $0.23. Adjusted EPS rose to $1.21, up $0.13 from the previous quarter. Total loans grew by $552.1 million sequentially, while core transaction deposits surged by $2.05 billion, a 6% increase. The company's CET1 ratio improved to 9.74%, and non-interest expenses fell by $35.4 million. However, net interest income declined by $12.1 million due to asset repricing and lower day counts.

Synovus Financial Corp. (NYSE: SNV) will reveal its first quarter 2021 results on April 20, 2021. The earnings press release will be shared prior to the earnings conference call at 8:30 a.m. ET. A live audio webcast, along with accompanying slides, will be accessible online. Synovus, based in Columbus, Georgia, manages approximately $54 billion in assets and offers a range of financial services across 288 branches in five states. The company has been recognized by American Banker as one of the "Most Reputable Banks" in the U.S.

The Board of Directors of Synovus Financial Corp (NYSE: SNV) has announced quarterly dividends totaling three different amounts. Common stock will receive $0.33 per share, payable on April 1, 2021, to shareholders of record as of March 18, 2021. Additionally, Series D preferred shareholders will receive $0.39375 per share, payable on March 22, 2021, and Series E preferred shareholders will receive $0.3671875 per share, payable on April 1, 2021. Synovus, based in Columbus, Georgia, boasts approximately $54 billion in assets and operates 288 branches across five states.