Synovus Financial Corp. - SNV STOCK NEWS

Synovus Bank has promoted Chad Parramore to executive director and head of product commercialization for its treasury and payment solutions team. In this newly created role, Parramore will develop product strategy and lead commercialization initiatives, working with cross-functional teams on launch strategies that meet business objectives and market demands. He will also manage data analytics, reporting, training, and marketing activities.

Parramore joined Synovus in 2019 as senior director of treasury management sales. Previously, he worked in treasury sales and management for JPMorganChase, Wells Fargo, and Wachovia. Katherine Weislogel, head of treasury and payment solutions at Synovus, expressed confidence in Parramore's ability to position the bank well for the evolving treasury and payment solutions landscape.

Synovus Financial Corp. (NYSE: SNV) has declared quarterly dividends for its shareholders. The board announced $0.38 per share on common stock, payable on Oct. 1, 2024, to shareholders of record as of Sept. 19, 2024. Additionally, $0.57251 per share on Series D preferred stock and $0.52481 per share on Series E preferred stock will be paid on Sept. 23 and Oct. 1, 2024, respectively.

Synovus, based in Columbus, Georgia, is a financial services company with approximately $60 billion in assets. The company offers a wide range of banking and financial services, including commercial and consumer banking, private banking, treasury management, and mortgage services. Synovus operates branches across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV) announced its participation in the Barclays 22nd Annual Global Financial Services Conference in New York City on Sept. 9, 2024. Chairman, CEO and President Kevin Blair and CFO Jamie Gregory will engage in a fireside chat at 3:30 p.m. ET. A live webcast and replay will be available on the company's investor relations website.

Synovus is a Columbus, Georgia-based financial services company with approximately $60 billion in assets. The company offers a wide range of banking and financial products, including commercial and consumer banking, private banking, treasury management, wealth management, mortgage services, and specialized lending. Synovus operates branches across Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus has awarded the Jack Parker Scholarship to 111 college students, totaling $104,000 for 2024. The scholarship, managed by the Jack B. Parker Foundation Inc., honors Jack B. Parker's 44-year career with Synovus. It supports children of Synovus team members who excel academically, demonstrate leadership, and volunteer in their communities.

Joe Hilsman of Columbus, Georgia, was selected as the 2024 Jack Parker Scholar. A junior at the University of Georgia, Hilsman is pursuing a biology degree with plans for medical school. He volunteers with Young Life, works as a licensed EMT, and will research stem cell production and traumatic brain injury.

Since 1988, the foundation has awarded over $2 million in scholarships. Synovus Bank, an FDIC-insured institution, offers commercial and consumer banking services across five states.

Synovus Bank has appointed Darron Burnette as the new president of Synovus Mortgage, effective July 15. Burnette, who previously served as division CEO for South Georgia and North Florida markets, will lead a cross-functional team to drive strategic execution of mortgage lending operations. His role focuses on delivering growth, customized solutions, and exceptional client experience across the bank's markets. Burnette reports to Wayne Akins, Executive Vice President and Chief Community Banking and Wealth Services Officer.

Burnette's leadership skills and ability to navigate change successfully were highlighted as key factors in his appointment. He is actively involved in various community initiatives, including chairing the Georgia Banking School and supporting the Blue Mile Revitalization effort in Statesboro, Georgia. Burnette has received several civic and leadership awards, showcasing his commitment to both the banking industry and community service.

Synovus Bank has promoted Blake Thrasher to Tuscaloosa market executive. Thrasher, who joined Synovus in 2021 as senior executive vice president and commercial banker, will lead banking teams to provide tailored financial solutions, drive business development, and support community outreach initiatives. He will report to Alabama Division CEO Nelson Bean.

Thrasher brings over two decades of financial services experience and strong community connections. He earned his bachelor's degree from the University of Alabama, where he played collegiate basketball. Currently, he coaches varsity boys basketball at American Christian Academy and serves on its board of directors.

Synovus Bank, a Georgia-chartered, FDIC-insured bank, offers commercial and consumer banking services across Georgia, Alabama, South Carolina, Florida, and Tennessee. The bank is recognized as a Great Place to Work-Certified Company.

Synovus Financial Corp. (NYSE: SNV) reported Q2 2024 financial results, with a diluted loss per share of $(0.16) compared to $1.13 in Q2 2023. Adjusted diluted earnings per share remained stable at $1.16. The quarter was impacted by a $257 million securities loss, while adjusted EPS increased 47% from Q1 2024. Key highlights include:

- Net interest income increased 4% sequentially but decreased 5% year-over-year
- Net interest margin expanded by 16 basis points to 3.20%
- Period-end loans declined $216.5 million from Q1 2024
- Core deposits decreased $67.6 million to $44.8 billion
- Adjusted non-interest revenue grew 9% sequentially and 15% year-over-year
- Provision for credit losses declined 51% sequentially
- Preliminary CET1 ratio rose to 10.62%

Synovus Financial Corp. (NYSE: SNV) will release its second quarter 2024 earnings results after market close on July 17, 2024. A conference call will follow at 8:30 a.m. ET on July 18, 2024. The live audio webcast and accompanying slides will be available at Synovus' investor website. A replay will be accessible for 12 months.

Synovus, headquartered in Columbus, Georgia, holds approximately $60 billion in assets and offers a wide range of financial services, including commercial and consumer banking, private banking, wealth management, and more. The company operates branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus is recognized as a Great Place to Work-Certified company.

Synovus Financial Corp. (NYSE: SNV) announced its quarterly dividends. The company declared a dividend of $0.38 per share on common stock, payable on July 1, 2024, to shareholders of record as of June 20, 2024.

Additionally, it declared $0.57159 per share on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, payable on June 21, 2024, to shareholders of record as of June 15, 2024. The Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, will have a dividend of $0.3671875 per share, payable on July 1, 2024, to shareholders of record as of June 15, 2024.

Synovus, based in Columbus, Georgia, holds approximately $60 billion in assets and provides a wide range of financial services across several states.