Synovus Financia - SNV STOCK NEWS

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.

Synovus Bank (SNV) Donates $1 Million to Children’s Healthcare of Atlanta (CHA) for Strong4Life Prevention Efforts in Rural Georgia

Synovus Financial Corp. (NYSE: SNV) has announced the completion of its cash tender offer to purchase up to $150 million in aggregate principal amount of its outstanding 5.900% Fixed-to-Fixed Rate Subordinated Notes due Feb. 7, 2029. A total of $82,382,000 aggregate principal amount of the 2029 notes were validly tendered and not validly withdrawn at the Early Tender Time. An additional $1,015,000 aggregate principal amount of the 2029 notes have been validly tendered and accepted for purchase without proration. The final settlement date for these additional notes is expected to occur on Dec. 5, 2023. Holders of 2029 notes validly tendered at or prior to the Expiration Time, not validly withdrawn and accepted for purchase, are receiving the Total Consideration of $935 for each $1,000 principal amount of such 2029 notes, which includes an Early Tender Payment of $30. The Tender Offer expired at the Expiration Time. Morgan Stanley & Co. LLC served as the Dealer Manager for the Tender Offer.

Synovus Financial Corp. (NYSE: SNV) declares quarterly dividends of $0.38 per share on common stock, $0.56942 per share on Series D preferred stock, and $0.3671875 per share on Series E preferred stock. The company, based in Columbus, Georgia, has approximately $59 billion in assets and offers a wide range of financial services across multiple states.

Synovus Financial Corp. (NYSE: SNV) announced the results of its cash tender offer to purchase up to $150 million in aggregate principal amount of its outstanding 5.900% Fixed-to-Fixed Rate Subordinated Notes due Feb. 7, 2029. As of the Early Tender Time, $82,382,000 aggregate principal amount of the 2029 notes had been validly tendered and not validly withdrawn. Holders of 2029 notes will receive the Total Consideration of $935 for each $1,000 principal amount of such 2029 notes, including an Early Tender Payment of $30. The Tender Offer will expire at 5 p.m., New York City time, on Dec. 1, 2023, unless extended or earlier terminated.