Synovus Financial Corp. - SNV STOCK NEWS

Synovus Financial Corp. (NYSE: SNV) will participate in the KBW U.S. Regional Leaders Bank Conference on June 5, 2023, in London, United Kingdom. Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $62 billion in assets. Synovus provides commercial and consumer banking and a full suite of specialized products and services. Synovus has branches in Georgia, Alabama, South Carolina, Florida, and Tennessee.

Synovus Financial Corp. (NYSE: SNV) has appointed Stacy Apter, Vice President, Treasurer, and Corporate Finance at The Coca-Cola Company, to its Board of Directors during the 2023 Annual Meeting of Shareholders held on April 26, 2023. Apter brings extensive experience, including her roles in capital management and risk strategies at Coca-Cola since 2005. Her insights in corporate finance and cultural transformation are expected to strengthen Synovus's leadership. Chairman and CEO Kevin Blair expressed confidence that Apter's expertise will enhance the company's strategic direction and shareholder value. Synovus operates with approximately $62 billion in assets, providing a wide range of banking and financial services across multiple states.

Synovus Financial Corp. (NYSE: SNV) reported strong first-quarter 2023 results, achieving a net income of $193.9 million, or $1.32 per diluted share, a 19% increase from the prior year. Adjusted diluted EPS rose to $1.33, marking a 23% rise year-over-year. Total revenue hit $613.9 million, up 23%, largely due to robust loan growth and higher interest rates. Pre-provision net revenue also grew by 30% year-over-year to $292 million. The company saw a sequential increase in total loans by $328.6 million, reaching $44.04 billion, and total deposits rose by $1.08 billion to $49.95 billion. The CET1 capital ratio improved to 9.76%, reflecting ongoing healthy capital generation. However, net interest income fell 4% from the previous quarter to $480.8 million due to rising deposit costs.

Synovus Financial Corp. (NYSE:SNV) has published its 2022 Annual Report, highlighting record financial achievements despite economic fluctuations. CEO Kevin Blair emphasized the company's adept maneuvering through challenging conditions and the momentum heading into 2023. With approximately $60 billion in assets, Synovus offers a wide range of banking services across several states, including Georgia, Alabama, South Carolina, Florida, and Tennessee. The report outlines the company's relationship-centric approach to banking and its commitment to helping clients and communities thrive. Synovus is recognized as a Great Place to Work.

Synovus Bank has announced a commitment of $2 million in corporate donations to nonprofits in Alabama, Georgia, Florida, South Carolina, and Tennessee. This commitment is part of the bank's Corporate Donations Program, which aims to address critical community needs. The 2023 donations represent a nearly 20% increase compared to 2022, helping over 300 organizations focused on affordable housing, economic development, and financial education.

Synovus emphasizes its dedication to community support, with Executive Vice President Alison Dowe stating that investing in nonprofits reflects the bank's core values. The 2024 Corporate Donations Program application will open on July 15, 2023.