$SNV (Synovus Financial Corporation)

$SNV {{ '2016-07-18T10:47:31+0000' | timeago}} • Announcement

Financial services company $SNV said its BoD has declared a quarterly dividend of $0.12 per share payable on July 1, 2016 to shareholders of record on June 16, 2016.

$SNV {{ '2017-09-26T11:24:28+0000' | timeago}} • Announcement

$SNV's subsidiary Synovus Bank completed the acquisition of certain assets and assumption of certain liabilities of World's Foremost Bank (WFB), a subsidiary of $CAB. Synovus sold WFB's credit card assets and related liabilities to Capital One Bank (USA), National Association, a bank subsidiary of $COF.

$SNV {{ '2017-09-07T14:36:52+0000' | timeago}} • Announcement

Synovus Bank, a unit of $SNV, has received regulatory approval from the Board of Governors of the Federal Reserve System to acquire certain assets and assume certain liabilities of World’s Foremost Bank, a subsidiary of $CAB, pursuant to the previously announced Framework Agreement, dated April 17, 2017.

$SNV {{ '2017-08-22T13:46:36+0000' | timeago}} • Announcement

Financial services firm $SNV has appointed Diana Murphy and John Stallworth to its BoD, effective immediately. Murphy currently serves as managing director of private equity firm Rocksolid Holdings. Stallworth is a partner of Genesis II and Chairman of the John Stallworth Foundation.

$SNV {{ '2017-04-18T13:58:21+0000' | timeago}} • Announcement

$SNV's net interest income was $239.9MM in 1Q17, up 10% from the year-ago quarter and net interest margin was up 13BP to 3.42%.Total non-interest income was $71.8MM, up 13.8% from 1Q16.

$SNV {{ '2017-04-18T13:47:53+0000' | timeago}} • Announcement

$SNV's total loans in 1Q17 stood at $24.26Bil, up 6.6% as compared to the year-over period. Total average deposits for the quarter were $24.92Bil, up 7.4% compared to 1Q16.

$SNV {{ '2017-04-18T13:35:18+0000' | timeago}} • Announcement

Financial services company $SNV posted an 8% increase in total revenue in 1Q17 to $304.1MM, driven by steady balance sheet growth and expanded net interest margin. Net income available to common shareholders was $69.3MM or $0.56 per share as compared to $50MM, or $0.39 per share in 1Q16. On an adjusted basis, earnings stood at  $0.57 per share.

$SNV {{ '2017-04-18T13:17:16+0000' | timeago}} • Announcement

Synovus Bank, a bank subsidiary of $SNV, will sell the Bank's credit card assets and related liabilities to $COF. Synovus will retain the Bank's deposits. $COF will be the exclusive issuing partner of $CAB's branded CLUB Visa program pursuant to a 10-year program agreement.

$CAB {{ '2017-04-18T13:13:49+0000' | timeago}} • Announcement

$CAB entered into agreements with subsidiaries of $SNV and $COF in connection with the sale of the assets and liabilities of $CAB's wholly owned bank subsidiary, World's Foremost Bank. Synovus Bank, a bank subsidiary of $SNV, will buy certain assets and assume certain liabilities of the Bank, including deposits totaling about $1.2Bil.

$SNV {{ '2017-01-19T20:17:53+0000' | timeago}} • Announcement

$SNV appointed Dixon Brooke Jr., former president and CEO of EBSCO Industries, to its BoD, effective immediately. Brooke currently serves as chairman of the advisory board of First Commercial Bank, the Birmingham division of Synovus Bank, as a director of EBSCO and McWane, Inc.

$SNV {{ '2017-01-17T14:58:00+0000' | timeago}} • Webcast

In terms of branch consolidation, $SNV said it is on the table, but not announced yet. The company is looking to decrease the number of facilities and get more efficient in the space. The company is also looking for new locations to open new branches as well.

$SNV {{ '2017-01-17T14:29:59+0000' | timeago}} • Webcast

$SNV said that mortgage banking performance was soft during 4Q16 due to seasonal factors as well as additional headwinds from the interest rate hikes. For 4Q16, mortgage banking income was down 24.9% QoverQ, but up 33.1% YoverY.

$SNV {{ '2017-01-17T14:07:10+0000' | timeago}} • Webcast

For 2017, $SNV expects net interest income growth of 8% to 10% and adjusted non-interest income growth of 2% to 4%. The company also expects both average loan and average total deposits to grow between 5% and 7%.

$SNV {{ '2017-01-17T13:54:18+0000' | timeago}} • Webcast

$SNV posted a 9.8% YoverY growth in net interest income for 4Q16, driven by balance sheet growth as well as margin enhancement. Net interest margin was 3.29%. Non-interest income grew 11.8% YoverY.

$SNV {{ '2017-01-17T12:02:39+0000' | timeago}} • Announcement

During 4Q16, $SNV’s BoD authorized a new share repurchase program of up to $200MM of the company’s common stock to be executed during 2017. The BoD also approved a 25% increase in the company’s quarterly common stock dividend from $0.12 to $0.15 per share, effective with the quarterly dividend payable in April 2017.

$SNV {{ '2017-01-17T12:00:49+0000' | timeago}} • Announcement

At 4Q16-end, $SNV had total loans of $23.86Bil, up 6.4% compared to 4Q15. Total average deposits for 4Q16 were $24.66Bil, up 6.1% compared to 4Q15. Net interest income was $233.5MM, up 9.8% compared to 4Q15.

$SNV {{ '2017-01-17T11:56:57+0000' | timeago}} • Announcement

Financial services company $SNV reported an increase in 4Q16 earnings. Net income was $66MM or $0.54 per share compared to $55.8MM or $0.43 per share for 4Q15. Adjusted diluted EPS was $0.54. Total revenues were $301.7MM, up 8.2% from 4Q15.

$SNV {{ '2016-10-18T19:44:52+0000' | timeago}} • Webcast

$SNV, which benefited in 3Q16 with its acquisition of specialty lending firm Entaire, said it is not interested in doing a large diluted transaction immediately though there are lot of acquisition chatter out there. "So we’ll keep our powder dry. We’ll be very disciplined," a company executive said on a conference call with analysts.

$SNV {{ '2016-10-18T13:30:09+0000' | timeago}} • Announcement

$SNV's total loans for 3Q16 increased by 6.4% to $23.26Bil from last year. This was driven by a 15.6% growth in retail loans, a 4.7% rise in commercial and industrial loans and a 3.6% increase in commercial real estate loans. Total average deposits rose 5.1% to $24.03Bil, on a 7.8% increase in average core transaction accounts.

$SNV {{ '2016-10-18T13:27:38+0000' | timeago}} • Announcement

$SNV reported a 12.6% rise in 3Q16 earnings driven by higher revenue. Net income rose to $65.25MM or $0.51 per share from $55.37MM or $0.42 per share last year. Total revenues increased 7% to $294.1MM driven by higher net interest income and a rise in non-interest income. Adjusted EPS grew 23% to $0.52.

$SNV {{ '2016-08-19T07:29:40+0000' | timeago}} • Announcement

Excluding merger-related costs expected in 4Q16, $SNV expects the Entaire acquisition to immediately add to EPS, ROE, and ROA. Entaire's key management has signed long-term employment agreements with $SNV. Transaction is expected to close in start of 4Q16. Barclays served as financial advisor to $SNV in this transaction.

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