Synovus Financial (SNV) investor relations material

Executive summary

• Reported strong Q3 2025 results with GAAP EPS of $1.33 and adjusted EPS of $1.46, up 19% year-over-year, and record non-interest revenue levels.

• Net interest margin expanded to 3.41%, with net interest income up 3% sequentially and 8% year-over-year.

• Loan production and fee income generation remained robust, with 43 new team members added in the quarter.

• Credit quality improved, with net charge-offs at 0.14% of average loans and nonperforming assets at 0.48% of total loans.

• Merger with Pinnacle Financial Partners progressing well, with leadership team finalized and integration efforts on track for Q1 2026 close.

Financial highlights

• Adjusted revenue increased 9% year-over-year and 4% sequentially; adjusted noninterest expense rose 6% year-over-year and 3% sequentially.

• Net interest income (GAAP) was $474.7M, up 3% QoQ and 8% YoY; adjusted net interest income (TE) was $476.4M.

• Non-interest revenue reached $140.7M, up 5% QoQ and 13% YoY; adjusted non-interest revenue was $136.4M.

• Net charge-offs were $15M (14 bps), lowest in almost three years; nonperforming assets improved to 0.53% of total loans.

• CET1 ratio reached a record 11.24%; total risk-based capital at 14.07%.

Outlook and guidance

• 2025 guidance: ~4.5% loan growth, ~0.5% core deposit growth, ~6.5% adjusted revenue growth, ~2.5% adjusted non-interest expense growth.

• Net charge-offs expected between 15-20 bps in Q4; CET1 ratio projected at 11.35% at year-end 2025.

• Pro forma CET1 ratio at merger close expected to be ~10.1%.

• Share repurchases deprioritized ahead of merger.

• 2026 pro forma company guidance to be issued after merger completion.