Synovus Financial (SNV) BancAnalysts Association of Boston Conference 2024 summary

Market and performance overview

• Stock surged 17.5% in a single day, reaching a $9 billion market cap, reflecting strong investor confidence.

• Outperformed KRE by 33% and S&P 500 equal-weighted index by over 60% since last year.

• 2025 consensus EPS up 10% year-over-year, with ROA at 1.06%, indicating ongoing improvement potential.

• Southeast markets served are projected to grow at twice the national average, with $50 billion in new income inflow over five years.

Strategic transformation and business model

• Major transformation included charter consolidation, brand unification, and focus on core strengths.

• Investments targeted commercial, private wealth, and business segments where competitive advantage exists.

• Recognized for service and trust, winning top J.D. Power and Greenwich awards.

• Diversified revenue streams and seamless delivery across business units.

Growth, efficiency, and risk management

• Deposits grew 29% since 2019, with 75% from commercial clients.

• Commercial loan growth at 14% CAGR, with fee income up 16% CAGR over three years.

• Treasury and Payment Solutions business growing 18% annually.

• Efficiency ratio at 55%, top quartile among peers, with 11% headcount reduction since 2019.

• CET1 capital at nine-year high, wholesale funding down 36% from peak, and enhanced risk management practices.