Last $24.69 USD
Change Today +0.22 / 0.90%
Volume 1.0M
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Munich
As of 8:04 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

synovus financial corp (SNV) Key Developments

Synovus Financial Corp. Announces Dividend, Payable on October 1, 2014

Synovus Financial Corp. announced that its Board of Directors has declared a dividend of $0.07 per share on the company's common stock. The dividend will be payable on October 1, 2014 to shareholders of record as of September 18, 2014.

Synovus Financial Corporation Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014

Synovus Financial Corporation Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014 . Venue: Four Seasons, Atlanta, Georgia, United States.

Synovus Financial Corporation Presents at Barclays 2014 Global Financial Services Conference, Sep-08-2014 01:15 PM

Synovus Financial Corporation Presents at Barclays 2014 Global Financial Services Conference, Sep-08-2014 01:15 PM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Kessel D. Stelling, Chairman, Chief Executive Officer, President, Chairman of Executive Committee, Chairman of Synovus Bank and Chief Executive Officer of Synovus Bank.

Synovus Financial Corp. Plans to Close 13 Branches Across its Five-State Footprint

Synovus Financial Corp. plans to close 13 branches across its five-state footprint in the fourth quarter as part of its ongoing cost-cutting efforts. Total restructuring charges relating to the branch closings are estimated at approximately $13 million, of which $7.7 million was recorded in the second quarter. The specific branches to be closed have not yet been announced.

Synovus Financial Corporation Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2014

Synovus Financial Corporation reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of $205,051,000, income before income taxes of $73,950,000 and net income of $46,872,000 against net interest income of $202,077,000, income before income taxes of $72,906,000 and net income of $45,535,000 a year ago. Interest income was $232,213,000 against $231,513,000 for the same period in the last year. Net income available to common shareholders was $44,313,000 or $0.32 diluted and basic EPS against $30,717,000 or $0.24 diluted EPS for the same period in the last year. Return on average assets was 0.71% and return on average common equity was 6.14% against return on average assets of 0.69% and return on average common equity of 4.70% a year ago. Adjusted revenues were $268,439,000 against $265,766,000 a year ago. Adjusted net income available to common shareholders was $49,027,000 or $0.35 per diluted share. Net interest income increased $4.5 million versus the first quarter, driven primarily by loan growth and a higher day count. For the six months, the company reported net interest income of $405,566,000, income before income taxes of $150,975,000 and net income of $95,289,000 against net interest income of $401,891,000, income before income taxes of $119,459,000 and net income of $75,109,000 a year ago. Net income available to common shareholders was $90,170,000 or $0.65 diluted and basic EPS against $45,515,000 or $0.35 diluted EPS for the same period in the last year. Return on average assets was 0.73% and return on average common equity was 6.33% against return on average assets of 0.58% and return on average common equity of 3.51% a year ago. Interest income was $460,595,000 against $461,903,000 for the same period in the last year. Book value per common share as at June 30, 2014 was $21.05 against $20.03 as at June 30, 2013. Tangible book value per common share as at June 30, 2014 was $20.87 against $19.81 as at June 30, 2013. For the quarter, the company announced net charge-offs of $35,371,000 against $29,969,000 for the same period in the last year. The elevation was directly related to the significant reduction in NPLs second quarter as evidenced by declining credit costs.

 

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