8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

October 18, 2023

Date of Report

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

Georgia	1-10312	58-1134883
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 641-6500

(Registrant’s telephone number, including area code)

________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

    ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

    ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

    ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

    ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $1.00 Par Value	SNV	New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D	SNV-PrD	New York Stock Exchange
Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E	SNV-PrE	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02	Results of Operations and Financial Condition
	On October 18, 2023, Synovus Financial Corp. (the "Company") issued a press release announcing the Company’s financial results for the three and nine month period ended September 30, 2023.
	Pursuant to General Instruction F to Current Report on Form 8-K, the press release is attached to this Current Report as Exhibit 99.1 and only those portions of the press release related to the historical results of operations of the Company for the three and nine month period ended September 30, 2023 are incorporated into this Item 2.02 by reference. The information contained in this Item 2.02, including the information set forth in the press release filed as Exhibit 99.1 to, and incorporated in, this Current Report is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the "Securities Act"), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

Item 7.01	Regulation FD Disclosure
	On October 18, 2023, the Company made available the supplemental information (the "Supplemental Information") and slide presentation ("Slide Presentation") prepared for use with the press release. The investor call and webcast will be held at 8:30 a.m., ET, on October 19, 2023.
	The information contained in this Item 7.01 of this Current Report, including the information set forth in the Supplemental Information and the Slide Presentation filed as Exhibit 99.2 and Exhibit 99.3 to, and incorporated in, this Current Report, is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in Exhibit 99.2 and Exhibit 99.3 furnished pursuant to this Item 7.01 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

Item 9.01	Financial Statements and Exhibits
	(d)	Exhibits
	Exhibit No.	Description
	99.1	Synovus press release dated October 18, 2023
	99.2	Supplemental Information prepared for use with the press release
	99.3	Slide presentation prepared for use with the press release

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Synovus has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SYNOVUS FINANCIAL CORP.
Date: October 18, 2023	By: /s/ Allan E. Kamensky
	Name: Allan E. Kamensky
	Title: Executive Vice President and General Counsel

EX-99.1

Exhibit 99.1

Media Contact	Investor Contact
Audria Belton	Jennifer Demba
Media Relations	Investor Relations
media@synovus.com	investorrelations@synovus.com

Synovus announces earnings for the third quarter 2023

Diluted earnings per share of $0.60 vs. $1.33 in 3Q22

Adjusted diluted earnings per share of $0.84 vs. $1.34 in3Q22

COLUMBUS, Ga., Oct. 18, 2023- Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended Sept. 30, 2023.“Our third quarter financial results reflect agility and disciplined execution amid complex market dynamics," said Synovus Chairman, CEO and President Kevin Blair. "While we navigate through this uncertain economic landscape, our primary focus remains on strengthening and growing our core client relationships and strategically positioning Synovus for future growth. This includes efforts to optimize the balance sheet as well as business mix. Our proactive measures taken in the third quarter have further derisked the company by reducing our wholesale funding ratio to 15% and elevating the CET1 ratio beyond 10%, while also streamlining ongoing expenses. We are confidently looking forward to a strong close for 2023, and we are optimistic about the return to a stronger growth orientation as we progress through 2024."

Third Quarter 2023 Highlights

•Completed the previously announced sales of $338 million of third-party consumer loans and $1.2 billion of medical office building loans as well as the sale of asset management firm GLOBALT to its management team.

•Total revenue of $550.3 million declined $31.9 million, or 5%, compared to the third quarter 2022, driven by net interest income decrease of 7%, partially offset by growth in client fee income, excluding mortgage, of 5% year-over-year.

•Pre-provision net revenue of $196.8 million declined $91.4 million, or 32%, compared to the third quarter 2022, mostly driven by increases in funding costs, losses on the aforementioned loan sales and restructuring charges related to a voluntary early retirement program.

•Period-end loans declined $673.6 million sequentially, primarily driven by the $1.2 billion medical office building loans sale.

•Total deposits increased $123.5 million sequentially, while core deposits (excluding brokered deposits) grew $431.5 million, as remixing began to slow.

•As expected, credit quality metrics continued to increase from historically low levels and included a net charge-off ratio of 0.61% (driven by the previously disclosed medical office loan sale and a shared national C&I credit), a 3 bps increase in the ACL ratio to 1.22%, and non-performing loan and asset ratios both at 0.64%.

•The preliminary CET1 ratio of 10.13% increased 27 bps sequentially as capital preservation remains the near-term priority given persistent economic uncertainty.

Third Quarter Summary

	Reported									Adjusted
(dollars in thousands)	3Q23			2Q23			3Q22			3Q23			2Q23			3Q22
Net income available to common shareholders	$	87,423		$	165,819		$	194,753		$	122,770		$	169,526		$	195,481
Diluted earnings per share	0.60			1.13			1.33			0.84			1.16			1.34
Total revenue	550,298			567,807			582,217			550,552			567,347			584,265
Total loans	43,679,910			44,353,537			42,571,458			N/A			N/A			N/A
Total deposits	50,203,890			50,080,392			47,697,564			N/A			N/A			N/A
Return on avg assets	0.64		%	1.15		%	1.39		%	0.87		%	1.18		%	1.39		%
Return on avg common equity	8.2			15.5			18.7			11.5			15.8			18.7
Return on avg tangible common equity	9.7			17.7			21.3			13.5			18.1			21.4
Net interest margin	3.11			3.20			3.47			N/A			N/A			N/A
Efficiency ratio-TE(1)(2)	64.11			53.99			50.41			55.01			52.57			49.98
NCO ratio-QTD	0.61			0.24			0.04			N/A			N/A			N/A
NPA ratio	0.64			0.59			0.32			N/A			N/A			N/A

(1) Taxable equivalent

(2) Adjusted tangible efficiency ratio

Balance Sheet

Loans*
(dollars in millions)	3Q23		2Q23		Linked Quarter Change		Linked Quarter % Change		3Q22		Year/Year Change		Year/Year % Change
Commercial & industrial	$	22,781.0	$	22,531.2	$	249.7	1	%	$	21,212.5	$	1,568.4	7	%
Commercial real estate	12,394.9		13,293.9		(899.0)		(7)		12,288.0		106.9		1
Consumer	8,504.1		8,528.4		(24.3)		—		9,071.0		(566.9)		(6)
Total loans	$	43,679.9	$	44,353.5	$	(673.6)	(2)	%	$	42,571.5	$	1,108.4	3	%

*Amounts may not total due to rounding

•Total loans ended the quarter at $43.68 billion, down $673.6 million sequentially, primarily driven by the $1.2 billion medical office building loans sale.

•Commercial and industrial (C&I) loans rose $249.7 million sequentially as activity in middle market commercial, Corporate and Investment Banking, and specialty lines contributed to the growth.

•CRE loans declined $899.0 million sequentially, driven by the aforementioned medical office building loans sale partially offset by draws on existing multi-family commitments and continued low levels of pay-offs.

•Consumer loans declined $24.3 million sequentially, largely a result of continued third-party contraction from sales as well as runoff somewhat offset by growth in portfolio mortgages.

Deposits*
(dollars in millions)	3Q23		2Q23		Linked Quarter Change		Linked Quarter % Change		3Q22		Year/Year Change		Year/Year % Change
Non-interest-bearing DDA	$	12,395.1	$	12,945.5	$	(550.4)	(4)	%	$	15,373.7	$	(2,978.6)	(19)	%
Interest-bearing DDA	6,276.1		6,255.3		20.8		—		5,777.7		498.4		9
Money market	10,786.3		10,803.7		(17.4)		—		12,917.6		(2,131.3)		(16)
Savings	1,132.5		1,222.9		(90.4)		(7)		1,470.1		(337.6)		(23)
Public funds	6,885.7		7,031.4		(145.7)		(2)		5,549.7		1,336.0		24
Time deposits	6,506.4		5,291.8		1,214.6		23		2,110.9		4,395.5		208
Brokered deposits	6,221.8		6,529.8		(308.0)		(5)		4,497.8		1,724.0		38
Total deposits	$	50,203.9	$	50,080.4	$	123.5	—	%	$	47,697.6	$	2,506.3	5	%

*Amounts may not total due to rounding

•Total deposits ended the quarter at $50.20 billion, up $123.5 million sequentially, while core deposits (excluding brokered deposits) grew $431.5 million.

◦Time deposits growth was partially offset by a decline in non-interest-bearing DDA deposits, a byproduct of cash deployment of excess funds and continued pressures from the higher rate environment, the rate of which has slowed.

•Total deposit costs increased 36 bps sequentially to 2.31% and continued to be impacted by pricing lags on core interest-bearing deposits (excluding brokered deposits) as well as the decline in non-interest-bearing DDAs.

Income Statement Summary**
(in thousands, except per share data)	3Q23		2Q23		Linked Quarter Change		Linked Quarter % Change		3Q22		Year/Year Change		Year/Year % Change
Net interest income	$	443,159	$	455,531	$	(12,372)	(3)	%	$	477,919	$	(34,760)	(7)	%
Non-interest revenue	107,139		112,276		(5,137)		(5)		104,298		2,841		3
Non-interest expense	353,532		307,181		46,351		15		294,010		59,522		20
Provision for (reversal of) credit losses	72,572		38,881		33,691		87		25,581		46,991		184
Income before taxes	$	124,194	$	221,745	$	(97,551)	(44)	%	$	262,626	$	(138,432)	(53)	%
Income tax expense	27,729		47,801		(20,072)		(42)		59,582		(31,853)		(53)
Net income	96,465		173,944		(77,479)		(45)		203,044		(106,579)		(52)
Less: Net income (loss) attributable to noncontrolling interest	(630)		(166)		(464)		NM		—		(630)		NM
Net income attributable to Synovus Financial Corp.	97,095		174,110		(77,015)		(44)		203,044		(105,949)		(52)
Less: Preferred stock dividends	9,672		8,291		1,381		17		8,291		1,381		17
Net income available to common shareholders	$	87,423	$	165,819	$	(78,396)	(47)	%	$	194,753	$	(107,330)	(55)	%
Weighted average common shares outstanding, diluted	146,740		146,550		190		—	%	146,418		322		—	%
Diluted earnings per share	$	0.60	$	1.13	$	(0.53)	(47)		$	1.33	$	(0.73)	(55)
Adjusted diluted earnings per share	0.84		1.16		(0.32)		(28)		1.34		(0.50)		(37)
Effective tax rate	22.33%		21.56%						22.69%

**    Amounts may not total due to rounding

Core Performance

•Net interest income of $443.2 million was down $12.4 million sequentially, or 3%, and fell $34.8 million, or 7%, compared to the third quarter 2022.

◦The quarter-over-quarter decline was largely driven by modest increases in deposit costs and a continued decline in non-interest-bearing DDA deposits, but at a slower pace, partially offset by modestly better asset yields.

▪Net interest margin was 3.11%, down 9 bps sequentially, impacted by the same factors mentioned above.

◦The year-over-year decline resulted primarily from higher deposit costs and negative remixing from non-interest DDA deposits somewhat offset by higher asset yields.

•Non-interest revenue fell $5.1 million, or 5%, sequentially and increased $2.8 million, or 3%, compared to the third quarter 2022. Adjusted non-interest revenue declined $4.4 million, or 4%, sequentially and increased $0.9 million, or 1%, compared to the third quarter 2022.

◦The quarter-over-quarter decrease was impacted by recent changes to the NSF/overdraft program, a soft mortgage lending market and more muted capital markets activity.

◦The year-over-year increase primarily related to higher wealth revenue and increased card fees.

•Non-interest expense increased $46.4 million, or 15%, sequentially and increased $59.5 million, or 20%, compared to the third quarter 2022. Adjusted non-interest expense increased $5.2 million, or 2%, sequentially and increased $11.8 million, or 4%, compared to the third quarter 2022.

◦The quarter-over-quarter and year-over-year increases were largely impacted by a $31.0 million loss from loan sales and $18.4 million in voluntary early retirement charges. The year-over-year increase was also affected by new business initiatives and infrastructure investments as well as higher FDIC insurance and healthcare costs.

•As expected, credit quality metrics continued to increase from historically low levels. The non-performing loan and asset ratios both moved to 0.64%; the net charge-off ratio for the quarter was 0.61%, largely driven by the medical office building loan sale and a shared national C&I credit, while total past dues were 0.13% of total loans outstanding.

•Provision for credit losses of $72.6 million increased $33.7 million sequentially and rose $47.0 million compared to the third quarter 2022.

◦Drivers of the quarter-over-quarter and year-over-year increases included higher net charge-offs and increases of 3 bps and 9 bps, respectively, in the allowance for credit losses coverage ratio (to loans), reflecting migration trends and the uncertain economic environment.

Capital Ratios
	3Q23			2Q23		3Q22
Common equity Tier 1 capital (CET1) ratio	10.13	%	*	9.86	%	9.52	%
Tier 1 capital ratio	11.18		*	10.89		10.59
Total risk-based capital ratio	13.12		*	12.80		12.45
Tier 1 leverage ratio	9.38		*	9.23		9.04
Tangible common equity ratio	5.90			6.17		5.52

* Ratios are preliminary.

Capital

•The preliminary CET1 ratio improved 27 bps during the quarter to 10.13%, and the preliminary total risk-based capital ratio of 13.12% increased 32 bps from the previous quarter as capital preservation remains the near-term priority given persistent economic uncertainty.

Third Quarter Earnings Conference Call

Synovus will host an earnings highlights conference call at 8:30 a.m. ET on October 19, 2023. The earnings call will be accompanied by a slide presentation. Shareholders and other interested parties may listen to this conference call via simultaneous internet broadcast. For a link to the webcast, go to investor.synovus.com/event. The replay will be archived for 12 months and will be available 30-45 minutes after the call.

Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $59 billion in assets. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has 246 branches in Georgia, Alabama, South Carolina, Florida and Tennessee. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram.

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus’ use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Synovus’ future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict.

These forward-looking statements are based upon information presently known to Synovus’ management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2022, under the captions “Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors” and in Synovus’ quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

Non-GAAP Financial Measures

The measures entitled adjusted non-interest revenue, non-interest expense; adjusted revenue; adjusted tangible efficiency ratio; adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; and tangible common equity ratio are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total revenue; efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; and the ratio of total Synovus Financial Corp. shareholders' equity to total assets, respectively.

Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus’ operating results, financial strength, the performance of its business, and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted non-interest revenue and adjusted revenue are measures used by management to evaluate non-interest revenue and total revenue exclusive of fair value adjustment on non-qualified deferred compensation and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. Adjusted net income available to common shareholders, adjusted diluted earnings per share, adjusted return on average assets, and adjusted return on average common equity are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus’ performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. The tangible common equity ratio is used by management to assess the strength of our capital position. The computations of these measures are set forth in the tables below.

Reconciliation of Non-GAAP Financial Measures
(dollars in thousands)	3Q23		2Q23		3Q22
Adjusted non-interest revenue
Total non-interest revenue	$	107,139	$	112,276	$	104,298
Gain on sale of GLOBALT	(1,929)		—		—
Fair value adjustment on non-qualified deferred compensation	1,035		(1,598)		1,076
Adjusted non-interest revenue	$	106,245	$	110,678	$	105,374
Adjusted non-interest expense
Total non-interest expense	$	353,532	$	307,181	$	294,010
(Loss) gain on other loans held for sale	(30,954)		(2,360)		—
Gain (loss) on early extinguishment of debt	526		377		—
Restructuring (charges) reversals	(17,319)		110		(956)
Valuation adjustment to Visa derivative	(900)		(3,027)		—
Fair value adjustment on non-qualified deferred compensation	1,035		(1,598)		1,076
Adjusted non-interest expense	$	305,920	$	300,683	$	294,130

Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)	3Q23			2Q23			3Q22
Adjusted revenue and tangible efficiency ratio
Adjusted non-interest expense	$	305,920		$	300,683		$	294,130
Amortization of intangibles	(3,042)			(2,420)			(2,118)
Adjusted tangible non-interest expense	$	302,878		$	298,263		$	292,012
Net interest income	$	443,159		$	455,531		$	477,919
Total non-interest revenue	107,139			112,276			104,298
Total revenue	$	550,298		$	567,807		$	582,217
Tax equivalent adjustment	1,148			1,138			972
Total TE revenue	551,446			568,945			583,189
Gain on sale of GLOBALT	(1,929)			—			—
Fair value adjustment on non-qualified deferred compensation	1,035			(1,598)			1,076
Adjusted revenue	$	550,552		$	567,347		$	584,265
Efficiency ratio-TE	64.11		%	53.99		%	50.41		%
Adjusted tangible efficiency ratio	55.01			52.57			49.98

Adjusted return on average assets
Net income	$	96,465		$	173,944		$	203,044
Loss (gain) on other loans held for sale	30,954			2,360			—
(Gain) loss on early extinguishment of debt	(526)			(377)			—
Gain on sale of GLOBALT	(1,929)			—			—
Restructuring charges (reversals)	17,319			(110)			956
Valuation adjustment to Visa derivative	900			3,027			—
Tax effect of adjustments(1)	(11,371)			(1,193)			(228)
Adjusted net income	$	131,812		$	177,651		$	203,772
Net income annualized	$	382,714		$	697,687		$	805,555
Adjusted net income annualized	$	522,950		$	712,556		$	808,443
Total average assets	$	59,916,679		$	60,515,077		$	58,055,978
Return on average assets	0.64		%	1.15		%	1.39		%
Adjusted return on average assets	0.87			1.18			1.39
Adjusted net income available to common shareholders and adjusted diluted earnings per share
Net income available to common shareholders	$	87,423		$	165,819		$	194,753
Gain on sale of GLOBALT	(1,929)			—			—
Loss (gain) on other loans held for sale	30,954			2,360			—
(Gain) loss on early extinguishment of debt	(526)			(377)			—
Restructuring charges (reversals)	17,319			(110)			956
Valuation adjustment to Visa derivative	900			3,027			—
Tax effect of adjustments(1)	(11,371)			(1,193)			(228)
Adjusted net income available to common shareholders	$	122,770		$	169,526		$	195,481
Weighted average common shares outstanding, diluted	146,740			146,550			146,418
Diluted earnings per share	$	0.60		$	1.13		$	1.33
Adjusted diluted earnings per share	0.84			1.16			1.34

Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)	3Q23			2Q23			3Q22
Adjusted return on average common equity, return on average tangible common equity, and adjusted return on average tangible common equity
Net income available to common shareholders	$	87,423		$	165,819		$	194,753
Loss (gain) on other loans held for sale	30,954			2,360			—
(Gain) loss on early extinguishment of debt	(526)			(377)			—
Gain on sale of GLOBALT	(1,929)			—			—
Restructuring charges (reversals)	17,319			(110)			956
Valuation adjustment to Visa derivative	900			3,027			—
Tax effect of adjustments(1)	(11,371)			(1,193)			(228)
Adjusted net income available to common shareholders	$	122,770		$	169,526		$	195,481
Adjusted net income available to common shareholders annualized	$	487,077		$	679,967		$	775,550
Amortization of intangibles, tax effected, annualized	9,131			7,344			6,401
Adjusted net income available to common shareholders excluding amortization of intangibles annualized	$	496,208		$	687,311		$	781,951
Net income available to common shareholders annualized	$	346,841		$	665,098		$	772,661
Amortization of intangibles, tax effected, annualized	9,131			7,344			6,401
Net income available to common shareholders excluding amortization of intangibles annualized	$	355,972		$	672,442		$	779,062
Total average Synovus Financial Corp. shareholders' equity less preferred stock	$	4,223,422		$	4,303,722		$	4,141,516
Average goodwill	(476,408)			(460,118)			(452,390)
Average other intangible assets, net	(59,016)			(36,738)			(30,214)
Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock	$	3,687,998		$	3,806,866		$	3,658,912
Return on average common equity	8.2		%	15.5		%	18.7		%
Adjusted return on average common equity	11.5			15.8			18.7
Return on average tangible common equity	9.7			17.7			21.3
Adjusted return on average tangible common equity	13.5			18.1			21.4

(dollars in thousands)	September 30, 2023			December 31, 2022			September 30, 2022
Tangible common equity ratio
Total assets	$	59,342,930		$	59,731,378		$	58,639,522
Goodwill	(479,851)			(452,390)			(452,390)
Other intangible assets, net	(49,096)			(27,124)			(29,242)
Tangible assets	$	58,813,983		$	59,251,864		$	58,157,890
Total Synovus Financial Corp. shareholders’ equity	$	4,536,958		$	4,475,801		$	4,229,715
Goodwill	(479,851)			(452,390)			(452,390)
Other intangible assets, net	(49,096)			(27,124)			(29,242)
Preferred Stock, no par value	(537,145)			(537,145)			(537,145)
Tangible common equity	$	3,470,866		$	3,459,142		$	3,210,938
Total Synovus Financial Corp. shareholders’ equity to total assets ratio	7.65		%	7.49		%	7.21		%
Tangible common equity ratio	5.90			5.84			5.52
(1) An assumed marginal tax rate of 24.3% for 3Q23 and 2Q23 and 23.8% for 3Q22 was applied.
Amounts may not total due to rounding

EX-99.2

Synovus				Exhibit 99.2
INCOME STATEMENT DATA
(Unaudited)
(Dollars in thousands, except per share data)	Nine Months Ended September 30,
	2023			2022			'23 vs '22
							% Change
Interest income	$	2,262,061		$	1,421,133		59	%
Interest expense	882,619			125,578			603
Net interest income	1,379,442			1,295,555			6
Provision for (reversal of) credit losses	143,607			49,669			189
Net interest income after provision for credit losses	1,235,835			1,245,886			(1)
Non-interest revenue:
Service charges on deposit accounts	67,836			69,428			(2)
Fiduciary and asset management fees	59,928			59,577			1
Card fees	51,485			45,946			12
Brokerage revenue	63,703			47,038			35
Mortgage banking income	12,138			14,922			(19)
Capital markets income	27,077			19,704			37
Income from bank-owned life insurance	21,106			22,514			(6)
Investment securities gains (losses), net	1,030			—			nm
Recovery of NPA	13,126			—			nm
Other non-interest revenue	35,112			27,768			26
Total non-interest revenue	352,541			306,897			15
Non-interest expense:
Salaries and other personnel expense	551,667			499,081			11
Net occupancy, equipment, and software expense	131,435			129,538			1
Third-party processing and other services	64,932			65,486			(1)
Professional fees	28,707			26,094			10
FDIC insurance and other regulatory fees	33,266			20,851			60
Restructuring charges (reversals)	16,476			(7,318)			nm
Loss on other loans held for sale	50,064			—			nm
Other operating expenses	106,019			114,779			(8)
Total non-interest expense	982,566			848,511			16
Income before income taxes	605,810			704,272			(14)
Income tax expense	133,242			152,140			(12)
Net income	472,568			552,132			(14)
Less: Net income attributable to noncontrolling interest	(796)			—			nm
Net income attributable to Synovus Financial Corp.	473,364			552,132			(14)
Less: Preferred stock dividends	26,254			24,872			6
Net income available to common shareholders	$	447,110		$	527,260		(15)	%
Net income per common share, basic	$	3.06		$	3.63		(16)	%
Net income per common share, diluted	3.05			3.60			(15)
Cash dividends declared per common share	1.14			1.02			12
Return on average assets *	1.05		%	1.29		%	(24)	bps
Return on average common equity *	14.23			16.37			(214)
Weighted average common shares outstanding, basic	146,028			145,329			—	%
Weighted average common shares outstanding, diluted	146,683			146,465			—
nm - not meaningful
bps - basis points
* - ratios are annualized
Amounts may not total due to rounding

Synovus
	INCOME STATEMENT DATA
	(Unaudited)
	(Dollars in thousands, except per share data)	2023					2022		Third Quarter
		Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter	'23 vs '22
									% Change
	Interest income	$	786,039		759,143	716,879	654,654	551,299	43	%
	Interest expense	342,880			303,612	236,128	153,308	73,380	367
	Net interest income	443,159			455,531	480,751	501,346	477,919	(7)
	Provision for (reversal of) credit losses	72,572			38,881	32,154	34,884	25,581	184
	Net interest income after provision for credit losses	370,587			416,650	448,597	466,462	452,338	(18)
	Non-interest revenue:
	Service charges on deposit accounts	21,385			23,477	22,974	23,639	23,398	(9)
	Fiduciary and asset management fees	20,205			20,027	19,696	18,836	19,201	5
	Card fees	18,602			17,059	15,824	15,887	15,101	23
	Brokerage revenue	20,237			20,908	22,558	19,996	17,140	18
	Mortgage banking income	3,671			4,609	3,858	2,554	5,065	(28)
	Capital markets income	6,377			6,975	13,725	6,998	6,839	(7)
	Income from bank-owned life insurance	6,965			6,878	7,262	7,206	6,792	3
	Investment securities gains (losses), net	—			—	1,030	—	—	nm
	Recovery of NPA	—			—	13,126	—	—	nm
	Other non-interest revenue	9,697			12,343	13,073	7,323	10,762	(10)
	Total non-interest revenue	107,139			112,276	133,126	102,439	104,298	3
	Non-interest expense:
	Salaries and other personnel expense	179,741			183,001	188,924	182,629	173,334	4
	Net occupancy, equipment, and software expense	45,790			42,785	42,860	45,192	43,462	5
	Third-party processing and other services	21,439			21,659	21,833	23,130	22,539	(5)
	Professional fees	10,147			9,597	8,963	11,096	6,755	50
	FDIC insurance and other regulatory fees	11,837			11,162	10,268	8,232	7,707	54
	Restructuring charges (reversals)	17,319			(110)	(733)	(2,372)	956	nm
	Loss on other loans held for sale	30,954			2,360	16,750	—	—	nm
	Other operating expenses	36,305			36,727	32,987	41,089	39,257	(8)
	Total non-interest expense	353,532			307,181	321,852	308,996	294,010	20
	Income before income taxes	124,194			221,745	259,871	259,905	262,626	(53)
	Income tax expense	27,729			47,801	57,712	54,135	59,582	(53)
	Net income	96,465			173,944	202,159	205,770	203,044	(52)
	Less: Net income attributable to noncontrolling interest	(630)			(166)	—	—	—	nm
	Net income attributable to Synovus Financial Corp.	97,095			174,110	202,159	205,770	203,044	(52)
	Less: Preferred stock dividends	9,672			8,291	8,291	8,291	8,291	17
	Net income available to common shareholders	$	87,423		165,819	193,868	197,479	194,753	(55)	%
	Net income per common share, basic	$	0.60		1.13	1.33	1.36	1.34	(55)	%
	Net income per common share, diluted	0.60			1.13	1.32	1.35	1.33	(55)
	Cash dividends declared per common share	0.38			0.38	0.38	0.34	0.34	12
	Return on average assets *	0.64		%	1.15	1.36	1.38	1.39	(75)	bps
	Return on average common equity *	8.2			15.5	19.2	20.9	18.7	(1,050)
	Weighted average common shares outstanding, basic	146,170			146,113	145,799	145,467	145,386	1	%
	Weighted average common shares outstanding, diluted	146,740			146,550	146,727	146,528	146,418	—
	nm - not meaningful
	bps - basis points
	* - ratios are annualized
	Amounts may not total due to rounding

Synovus
	BALANCE SHEET DATA	September 30, 2023		December 31, 2022		September 30, 2022
	(Unaudited)
	(In thousands, except share data)
	ASSETS
	Cash and due from banks	$	604,631	$	624,097	$	516,163
	Interest-bearing funds with Federal Reserve Bank	1,431,356		1,280,684		1,260,748
	Interest earning deposits with banks	65,468		34,632		32,445
	Federal funds sold and securities purchased under resale agreements	36,176		38,367		58,448
	Cash, cash equivalents, and restricted cash	2,137,631		1,977,780		1,867,804
	Investment securities available for sale, at fair value	9,237,191		9,678,103		9,587,508
	Loans held for sale (includes $48,994, $51,136 and $56,517 measured at fair value, respectively)	66,558		391,502		696,450
	Loans, net of deferred fees and costs	43,679,910		43,716,353		42,571,458
	Allowance for loan losses	(477,532)		(443,424)		(421,359)
	Loans, net	43,202,378		43,272,929		42,150,099
	Cash surrender value of bank-owned life insurance	1,107,092		1,089,280		1,084,060
	Premises, equipment, and software, net	364,054		370,632		376,823
	Goodwill	479,851		452,390		452,390
	Other intangible assets, net	49,096		27,124		29,242
	Other assets	2,699,079		2,471,638		2,395,146
	Total assets	$	59,342,930	$	59,731,378	$	58,639,522
	LIABILITIES AND EQUITY
	Liabilities:
	Deposits:
	Non-interest-bearing deposits	$	12,976,574	$	15,639,899	$	16,359,551
	Interest-bearing deposits	37,227,316		33,231,660		31,338,013
	Total deposits	50,203,890		48,871,559		47,697,564
	Federal funds purchased and securities sold under repurchase agreements	98,270		146,588		240,210
	Other short-term borrowings	2,362		603,384		614,232
	Long-term debt	2,704,701		4,109,597		4,434,327
	Other liabilities	1,772,139		1,524,449		1,423,474
	Total liabilities	54,781,362		55,255,577		54,409,807
	Equity:
	Shareholders' equity:
	Preferred stock - no par value. Authorized 100,000,000 shares; issued 22,000,000	537,145		537,145		537,145
	Common stock - $1.00 par value. Authorized 342,857,143 shares; issued 170,859,506, 170,141,492 and 170,097,791 respectively; outstanding 146,204,648, 145,486,634 and 145,442,933 respectively	170,860		170,141		170,098
	Additional paid-in capital	3,940,507		3,920,346		3,916,729
	Treasury stock, at cost; 24,654,858 shares	(944,484)		(944,484)		(944,484)
	Accumulated other comprehensive income (loss), net	(1,679,404)		(1,442,117)		(1,534,314)
	Retained earnings	2,512,334		2,234,770		2,084,541
	Total Synovus Financial Corp. shareholders’ equity	4,536,958		4,475,801		4,229,715
	Noncontrolling interest in subsidiary	24,610		—		—
	Total equity	4,561,568		4,475,801		4,229,715
	Total liabilities and equity	$	59,342,930	$	59,731,378	$	58,639,522

Synovus
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	Third Quarter 2023						Second Quarter 2023						Third Quarter 2022
(dollars in thousands)	Average Balance		Interest		Yield/    Rate		Average Balance		Interest		Yield/    Rate		Average Balance		Interest		Yield/    Rate
Assets
Interest earning assets:
Commercial loans (1) (2) (3)	$	34,990,459	$	579,177	6.57	%	$	35,628,637	$	566,823	6.38	%	$	32,836,799	$	384,995	4.65	%
Consumer loans (1) (2)	8,509,757		108,065		5.06		8,470,478		104,545		4.94		8,931,573		94,425		4.21
Less: Allowance for loan losses	(461,385)		—		—		(466,700)		—		—		(419,160)		—		—
Loans, net	43,038,831		687,242		6.34		43,632,415		671,368		6.17		41,349,212		479,420		4.60
Investment securities available for sale	11,194,291		61,642		2.20		11,200,717		60,421		2.16		11,126,705		53,550		1.92
Trading account assets	16,186		237		5.86		21,328		309		5.80		16,771		81		1.93
Other earning assets(4)	1,237,445		16,369		5.17		1,446,425		18,081		4.95		1,012,717		5,791		2.24
FHLB and Federal Reserve Bank stock	244,906		3,783		6.18		280,248		4,301		6.14		244,879		1,412		2.31
Mortgage loans held for sale	53,904		879		6.52		54,603		852		6.24		66,601		862		5.18
Other loans held for sale	881,067		17,035		7.57		546,224		4,949		3.58		892,805		11,155		4.89
Total interest earning assets	56,666,630		$	787,187	5.51	%	57,181,960		$	760,281	5.33	%	54,709,690		$	552,271	4.00	%
Cash and due from banks	509,511						646,066						557,537
Premises and equipment	365,568						369,039						383,189
Other real estate	—						—						2,398
Cash surrender value of bank-owned life insurance	1,102,626						1,095,866						1,080,914
Other assets(5)	1,272,344						1,222,146						1,322,251
Total assets	$	59,916,679					$	60,515,077					$	58,055,979
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	10,114,171	$	52,983	2.08	%	$	9,891,375	$	41,803	1.70	%	$	8,437,408	$	5,782	0.27	%
Money market accounts	13,147,465		95,339		2.88		13,468,210		85,397		2.54		15,410,964		20,696		0.53
Savings deposits	1,178,322		280		0.09		1,276,040		281		0.09		1,508,312		84		0.02
Time deposits	6,180,584		59,972		3.85		4,866,221		39,551		3.26		2,270,163		2,428		0.42
Brokered deposits	6,442,690		83,486		5.14		6,342,751		74,748		4.73		3,899,669		17,927		1.82
Federal funds purchased and securities sold under repurchase agreements	73,344		296		1.58		88,591		351		1.57		240,412		641		1.04
Other short-term borrowings	1,722		—		—		455,050		5,566		4.84		709,078		3,666		2.02
Long-term debt	3,230,374		50,524		6.18		3,821,126		55,915		5.82		2,656,939		22,156		3.29
Total interest-bearing liabilities	40,368,672		$	342,880	3.37	%	40,209,364		$	303,612	3.03	%	35,132,945		$	73,380	0.83	%
Non-interest-bearing demand deposits	13,049,343						13,874,482						16,904,353
Other liabilities	1,713,131						1,556,863						1,340,020
Total equity	4,785,533						4,874,368						4,678,661
Total liabilities and equity	$	59,916,679					$	60,515,077					$	58,055,979
Net interest income and net interest margin, taxable equivalent (6)			$	444,307	3.11	%			$	456,669	3.20	%			$	478,891	3.47	%
Less: taxable-equivalent adjustment			1,148						1,138						972
Net interest income			$	443,159					$	455,531					$	477,919

(1)Average loans are shown net of deferred fees and costs. NPLs are included.

(2)Interest income includes net loan fees as follows: Third Quarter 2023 — $11.8 million, Second Quarter 2023 — $11.3 million, and Third Quarter 2022 — $11.9 million.

(3)Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans to a taxable-equivalent basis.

(4)Includes interest-bearing funds with Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements.

(5)Includes average net unrealized gains/(losses) on investment securities available for sale of $(1.60) billion, $(1.46) billion, and $(1.06) billion for the Third Quarter 2023, Second Quarter 2023, and Third Quarter 2022, respectively.

(6)The net interest margin is calculated by dividing annualized net interest income-taxable equivalent by average total interest earning assets.

Synovus
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	Nine Months Ended September 30,
	2023						2022
(dollars in thousands)	Average Balance		Interest		Yield/    Rate		Average Balance		Interest		Yield/    Rate
Assets
Interest earning assets:
Commercial loans (1) (2) (3)	$	35,216,487	$	1,672,529	6.35	%	$	31,828,932	$	974,024	4.09	%
Consumer loans (1) (2)	8,580,029		316,757		4.92		8,749,927		259,619		3.95
Less: Allowance for loan losses	(457,818)						(419,478)
Loans, net	43,338,698		1,989,286		6.14		40,159,381		1,233,643		4.11
Investment securities available for sale	11,229,290		183,118		2.17		11,179,378		151,111		1.80
Trading account assets	16,302		671		5.49		12,640		193		2.04
Other earning assets(4)	1,398,211		51,660		4.87		1,245,102		8,267		0.88
FHLB and Federal Reserve Bank stock	277,136		11,439		5.50		195,238		3,917		2.67
Mortgage loans held for sale	48,398		2,297		6.33		85,126		2,665		4.17
Other loans held for sale	625,262		26,995		5.69		739,627		24,133		4.30
Total interest earning assets	56,933,297		$	2,265,466	5.32	%	53,616,492		$	1,423,929	3.55	%
Cash and due from banks	593,023						548,322
Premises and equipment	367,332						389,083
Other real estate	—						8,498
Cash surrender value of bank-owned life insurance	1,096,567						1,076,381
Other assets(5)	1,187,026						1,515,226
Total assets	$	60,177,245					$	57,154,002
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	9,702,651	$	118,007	1.63	%	$	9,162,684	$	11,752	0.17	%
Money market accounts	13,665,672		253,351		2.48		15,592,671		32,896		0.28
Savings deposits	1,274,142		771		0.08		1,491,893		223		0.02
Time deposits	4,892,146		121,019		3.31		2,700,505		6,254		0.31
Brokered deposits	6,116,392		214,627		4.69		3,192,848		27,952		1.17
Federal funds purchased and securities sold under repurchase agreements	98,212		1,317		1.77		227,335		871		0.51
Other short-term borrowings	705,292		24,559		4.59		400,862		4,561		1.50
Long-term debt	3,400,156		148,968		5.80		1,512,059		41,069		3.61
Total interest-bearing liabilities	39,854,663		$	882,619	2.96	%	34,280,857		$	125,578	0.49	%
Non-interest-bearing demand deposits	13,972,152						16,786,794
Other liabilities	1,592,230						1,243,900
Total equity	4,758,200						4,842,451
Total liabilities and equity	$	60,177,245					$	57,154,002
Net interest income, taxable equivalent net interest margin (6)			$	1,382,847	3.25	%			$	1,298,351	3.24	%
Less: taxable-equivalent adjustment			3,405						2,796
Net interest income			$	1,379,442					$	1,295,555

(1)Average loans are shown net of deferred fees and costs. NPLs are included.

(2)Interest income includes net loan fees as follows: 2023 — $34.6 million and 2022 — $45.6 million.

(3)Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans to a taxable-equivalent basis.

(4)Includes interest-bearing funds with Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements.

(5)Includes average net unrealized gains/(losses) on investment securities available for sale of $(1.53) billion and $(747.7) million for the nine months ended September 30, 2023 and 2022, respectively.

(6)The net interest margin is calculated by dividing annualized net interest income-taxable equivalent by average total interest earning assets.

Synovus
LOANS OUTSTANDING BY TYPE
(Unaudited)	Total Loans		Total Loans		Linked Quarter		Total Loans		Year/Year
(Dollars in thousands)
Loan Type	September 30, 2023		June 30, 2023		% Change		September 30, 2022		% Change
Commercial, Financial, and Agricultural	$	14,498,966	$	14,166,890	2	%	$	13,254,966	9	%
Owner-Occupied	8,281,988		8,364,342		(1)		7,957,550		4
Total Commercial & Industrial	22,780,954		22,531,232		1		21,212,516		7
Multi-Family	3,930,617		3,597,497		9		2,949,172		33
Hotels	1,790,094		1,771,381		1		1,712,016		5
Office Buildings	1,911,095		3,031,806		(37)		2,945,771		(35)
Shopping Centers	1,327,770		1,329,492		—		1,441,385		(8)
Warehouses	985,723		1,068,734		(8)		943,961		4
Other Investment Property	1,432,456		1,471,356		(3)		1,246,099		15
Total Investment Properties	11,377,755		12,270,266		(7)		11,238,404		1
1-4 Family Construction	224,091		205,459		9		249,840		(10)
1-4 Family Investment Mortgage	396,813		410,267		(3)		389,787		2
Total 1-4 Family Properties	620,904		615,726		1		639,627		(3)
Commercial Development	64,212		60,910		5		92,159		(30)
Residential Development	92,209		98,229		(6)		119,019		(23)
Land Acquisition	239,773		248,767		(4)		198,756		21
Land and Development	396,194		407,906		(3)		409,934		(3)
Total Commercial Real Estate	12,394,853		13,293,898		(7)		12,287,965		1
Consumer Mortgages	5,391,282		5,379,284		—		5,166,928		4
Home Equity	1,784,356		1,773,987		1		1,708,246		4
Credit Cards	191,046		187,677		2		197,978		(4)
Other Consumer Loans	1,137,419		1,187,459		(4)		1,997,825		(43)
Total Consumer	8,504,103		8,528,407		—		9,070,977		(6)
Total	$	43,679,910	$	44,353,537	(2)	%	$	42,571,458	3	%
NON-PERFORMING LOANS COMPOSITION
(Unaudited)	Total Non-performing Loans		Total Non-performing Loans		Linked Quarter		Total Non-performing Loans		Year/Year
(Dollars in thousands)
Loan Type	September 30, 2023		June 30, 2023		% Change		September 30, 2022		% Change
Commercial, Financial, and Agricultural	$	97,468	$	144,415	(33)	%	$	59,275	64	%
Owner-Occupied	84,505		22,197		281		8,433		902
Total Commercial & Industrial	181,973		166,612		9		67,708		169
Multi-Family	1,702		1,748		(3)		2,550		(33)
Office Buildings	27,810		28,024		(1)		884		nm
Shopping Centers	653		699		(7)		742		(12)
Warehouses	207		218		(5)		223		(7)
Other Investment Property	572		664		(14)		641		(11)
Total Investment Properties	30,944		31,353		(1)		5,040		514
1-4 Family Construction	—		632		nm		55		nm
1-4 Family Investment Mortgage	3,386		3,525		(4)		3,036		12
Total 1-4 Family Properties	3,386		4,157		(19)		3,091		10
Commercial Development	—		—		nm		422		(100)
Residential Development	267		267		—		267		—
Land Acquisition	538		871		(38)		980		(45)
Land and Development	805		1,138		(29)		1,669		(52)
Total Commercial Real Estate	35,135		36,648		(4)		9,800		259
Consumer Mortgages	43,863		41,877		5		32,527		35
Home Equity	11,620		9,936		17		7,121		63
Other Consumer Loans	7,941		6,433		23		4,938		61
Total Consumer	63,424		58,246		9		44,586		42
Total	$	280,532	$	261,506	7	%	$	122,094	130	%

Synovus
	CREDIT QUALITY DATA
	(Unaudited)
	(Dollars in thousands)	2023					2022		Third Quarter
		Third			Second	First	Fourth	Third	'23 vs '22
		Quarter			Quarter	Quarter	Quarter	Quarter	% Change
	Non-performing Loans (NPLs)	$	280,532		261,506	182,460	128,061	122,094	130	%
	Impaired Loans Held for Sale	—			—	—	—	447	(100)
	Other Real Estate and Other Assets	—			—	—	15,320	15,320	(100)
	Non-performing Assets (NPAs)	280,532			261,506	182,460	143,381	137,861	103
	Allowance for Loan Losses (ALL)	477,532			471,238	457,010	443,424	421,359	13
	Reserve for Unfunded Commitments	55,185			55,729	57,473	57,455	57,936	(5)
	Allowance for Credit Losses (ACL)	532,717			526,967	514,483	500,879	479,295	11
	Net Charge-Offs - Quarter	66,822			26,396	18,550	13,300	4,682
	Net Charge-Offs - YTD	111,768			44,946	18,550	53,156	39,856
	Net Charge-Offs / Average Loans - Quarter (1)	0.61		%	0.24	0.17	0.12	0.04
	Net Charge-Offs / Average Loans - YTD (1)	0.34			0.20	0.17	0.13	0.13
	NPLs / Loans	0.64			0.59	0.41	0.29	0.29
	NPAs / Loans, ORE and specific other assets	0.64			0.59	0.41	0.33	0.32
	ACL/Loans	1.22			1.19	1.17	1.15	1.13
	ALL/Loans	1.09			1.06	1.04	1.01	0.99
	ACL/NPLs	189.90			201.51	281.97	391.13	392.56
	ALL/NPLs	170.22			180.20	250.47	346.26	345.11
	Past Due Loans over 90 days and Still Accruing	$	3,792		3,643	3,529	3,373	3,443	10
	As a Percentage of Loans Outstanding	0.01		%	0.01	0.01	0.01	0.01
	Total Past Due Loans and Still Accruing	$	54,974		84,946	55,053	65,568	63,545	(13)
	As a Percentage of Loans Outstanding	0.13		%	0.19	0.12	0.15	0.15
	(1) Ratio is annualized.
	SELECTED CAPITAL INFORMATION (1)
	(Unaudited)
	(Dollars in thousands)
		September 30, 2023			December 31, 2022	September 30, 2022
	Common Equity Tier 1 Capital Ratio	10.13		%	9.63	9.52
	Tier 1 Capital Ratio	11.18			10.68	10.59
	Total Risk-Based Capital Ratio	13.12			12.54	12.45
	Tier 1 Leverage Ratio	9.38			9.07	9.04
	Total Synovus Financial Corp. shareholders' equity as a Percentage of Total Assets	7.65			7.49	7.21
	Tangible Common Equity Ratio (2) (4)	5.90			5.84	5.52
	Book Value Per Common Share (3)	$	27.36		27.07	25.39
	Tangible Book Value Per Common Share (2)	23.74			23.78	22.08
	(1) Current quarter regulatory capital information is preliminary.
	(2) Excludes the carrying value of goodwill and other intangible assets from common equity and total assets.
	(3) Book Value Per Common Share consists of Total Synovus Financial Corp. shareholders’ equity less Preferred stock divided by total common shares outstanding.
	(4) See "Non-GAAP Financial Measures" for applicable reconciliation.

EX-99.3

Earnings Release October 19, 2023 Third Quarter 2023 Results Exhibit 99.3

2 This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus' use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "predicts," "could," "should," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Synovus' future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, statements on our expectations related to (1) loan growth and loan production; (2) deposit growth, mix, pricing, and betas; (3) net interest income and net interest margin; (4) revenue growth; (5) non-interest expense; (6) credit trends and key credit performance metrics; (7) our future operating and financial performance; (8) our strategy and initiatives for future revenue growth, balance sheet optimization, capital management, and expense management; (9) our effective tax rate; and (10) our assumptions underlying these expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus' management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this presentation. Many of these factors are beyond Synovus' ability to control or predict. These forward-looking statements are based upon information presently known to Synovus' management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2022 under the captions "Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors" and in Synovus' quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward- looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted revenue; adjusted non-interest expense; adjusted tangible efficiency ratio; and tangible common equity ratio. The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; and total Synovus Financial Corp. shareholders' equity to total assets ratio, respectively. Management uses these non-GAAP financial measures to assess the performance of Synovus' business and the strength of its capital position. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management, investors, and bank regulators in evaluating Synovus' operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus' performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted revenue are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustment on non-qualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio is used by management and bank regulators to assess the strength of our capital position. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Synovus’ control, or cannot be reasonably predicted. For the same reasons, Synovus’ management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Forward-Looking Statements Use of Non-GAAP Financial Measures

3 Balance Sheet (Period-end, $ in millions) Total Loans, Net of Unearned $43,680 Deposits $50,204 Key Performance Metrics Reported Adjusted(3) Net Income Available to Common Shareholders(4) $87,423 $122,770 Diluted Earnings Per Share $0.60 $0.84 Return on Average Assets 0.64% 0.87% Return on Average Tangible Common Equity 9.7% 13.5% Efficiency Ratio-TE(5) 64.1% 55.0% (1) Wholesale Funding Ratio is defined as (Short-term Borrowings + Long-term Borrowings + Brokered Deposits) / Total Assets; (2) Excludes brokered; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) $ In thousands; (5) Taxable equivalent Third Quarter 2023 Financial Highlights • Balance sheet strengthened and business mix simplified following loan sales and GLOBALT divestiture • Wholesale funding ratio(1) now 15.0% of assets versus 17.4% in 2Q23; Office loans now 4.4% of loans versus 6.8% in 2Q23 • As expected, loan and core deposit(2) growth were balanced (ex Medical Office Building (MOB) loan sale) • NIM of 3.11% came in better than expected due to modestly better asset yields and funding costs • Non-interest expense discipline evidenced by headcount reductions and reduced discretionary spend • Net Charge-Offs (NCOs) primarily from previously announced C&I SNC and MOB loan sale • Now at targeted CET1 level of over 10.0%

4 Loans Amounts may not total due to rounding; (1) Spreads are quoted on SOFR, LIBOR and BSBY based floating rate commercial loans • CRE loan growth primarily from multi-family construction fund-ups; Middle Market commercial, CIB, and Specialty Lines of business contributed to C&I loan growth • Loan production declined 42% from prior year levels • C&I utilization was 48.4% versus 47.7% in 2Q23; the increase driven by new production during the quarter • Floating rate loan spreads(1) on new production nearly 100bps wider than prior year levels from more pricing power • Lending focused on deposit and fee relationship-based credits and appropriate risk-adjusted returns 2Q23 MOB CRE (Ex MOB) C&I Consumer Third-Party Consumer 3Q23 Loan Growth Attribution ($ in millions) $44,354 $43,680 $(1,172) $ 273 $250 $11 $(36)

5 $(589) $(31) $(90) $(105) $1,246 $(308) Non-Interest- Bearing NOW Savings MMA Time Brokered Deposits • Core deposits(1) grew 1% in 3Q23, driven by Time; NIB decline slowed in line with our expectations • New deposit production(2) remains healthy, up 68% YoY • Shift from consumer MMA to Time slowed • Brokered time deposits down 8% from 2Q23; expect more decline over the near term • Cost of deposits up 36 bps to 2.31% in 3Q23 • Pace of deposit beta slowed in 3Q23; we expect continuation of more moderate beta movements in 4Q23 QoQ Change in Ending Balances(3) (1) Excludes brokered; (2) Includes balances associated with new accounts originated in the quarter including the impact of existing customers switching account types; (3) Balances in bar chart include the public funds changes QoQ seen below the chart. ($ in millions) Deposit Beta of 42% through 3Q23 0.25% 3.84% 4.69% 5.16% 5.43% 5.50% 0.12% 0.88% 1.44% 1.95% 2.31% 2.41% Fed Target Average Total Deposit Cost 4Q21 4Q22 1Q23 2Q23 3Q23 Sep 23 Fed Target Average +518 bps Total Deposit Cost +219 bps Public Funds QoQ Growth: $(39) $(52) $1 $(87) $31 3Q23 vs 4Q21

6 $478 $501 $481 $456 $443 3.47% 3.56% 3.43% 3.20% 3.11% Net Interest Income Net Interest Margin 3Q22 4Q22 1Q23 2Q23 3Q23 Amounts may not total due to rounding; (1) NIM reflect Actual/Actual day count and includes other immaterial adjustments versus NIM previously reported Net Interest Income Net Interest Income / NIM Trends• Net interest income decline of $35 million or 7% YoY; QoQ decline of $12 million or 3% • Benefits of higher asset yields more than offset by continued increases in deposit costs • NIM expected to contract further as deposit repricing continues followed by expansion in 2H24 supported by fixed rate asset repricing ($ in millions) (1)

7 Amounts may not total due to rounding; (1) Estimated impact across various attributed and unattributed items; (2) Fixed rate repricing estimates based on constant rates, as of 9/30/23, and incorporate various assumptions, including estimates for prepayments, spreads, and other changes across the respective fixed rate portfolios Net Interest Income NIM Contribution from Fixed Rate Repricing(1)(2)Net Interest Margin Waterfall(1) 2Q23 Loan Yield Other Earnings Assets IB Core Deposit Cost NIB Re- Mix Whsl./Brok. Cost Other 3Q23 3.20% 3.11% 0.19% 0.01% (0.21)% (0.03)% (0.07)% 0.02% -1 7 11 15 23 Securities Portfolio Fixed Loans Mortgage Loans Cash Flow Loan Hedges Time Deposits Fixed Rate Debt 4Q23E 1Q24E 2Q24E 3Q24E 4Q24E -20 -10 0 10 20 30 40 Cumulative NIM Impact

8 ($ in millions) 3Q23 QoQ Δ YoY Δ Core Banking Fees(1) $46 (2)% 4% Wealth Revenue(2) $42 (3)% 8% Capital Markets Income $6 (9)% (7)% Net Mortgage Revenue $4 (20)% (28)% Total Other Income(3) $8 (10)% (22)% Total Adjusted Non-Interest Revenue(4) $106 (4)% 1% Total Non-Interest Revenue $107 (5)% 3% Amounts may not total due to rounding; (1) Include service charges on deposit accounts, card fees, letter of credit fees, ATM fee income, line of credit non-usage fee, gains (losses) from sales of SBA loans, and miscellaneous other service charges; (2) Consists of fiduciary/asset management, brokerage, and insurance revenues; (3) Includes earnings on equity method investments, income from BOLI, and other miscellaneous income; (4) Non-GAAP financial measure; see appendix for applicable reconciliation. (5) Estimated 2023 Core Client Fee Income (ex. Mortgage) ($ in millions) Non-Interest Revenue Growth and Stability in a Volatile Interest Rate Environment • Key strategic focus on Treasury and Payment Solutions enhancements and overall market penetration, Business Owner Wealth Strategy and Capital Markets fee growth • Fee income partially impacted by mid-July changes in checking program; expected annual impact of ($9.5 million) ◦ ~($1.5 million) impact recognized in 3Q ◦ ~($1.0 million) incremental impact anticipated in 4Q23 • Soft mortgage lending market and muted capital markets activity impacted fee income • Qualpay investment added incremental fees of $1.8 million versus 2Q23 Non-Interest Revenue - $107MM $281 $335 $361 $385 Core Client Fee Income (ex. Mortgage) 2020 2021 2022 2023E 11% CAGR (5)

9 Non-Interest Expense ($ in millions) 3Q23 QoQ Δ YoY Δ Total Employment $181 —% 4% Total Other $79 4% 4% Total Occupancy, Equipment, and Software $46 7% 5% Total Adjusted Non-Interest Expense(1) $306 2% 4% VERP Restructuring Charge $18 NA NA Loss on Loan Sales $31 NA NA Total Non-Interest Expense $354 15% 20% Amounts may not total due to rounding; (1) Non-GAAP financial measure; see appendix for applicable reconciliation; (2) Excludes expected $47 million FDIC special assessment in 4Q23 Non-Interest Expense - $354MM• Loan sales' impact was $31 million while Voluntary Early Retirement Plan (VERP) charge was $18 million in 3Q23 • Adjusted NIE up 4% YoY and up 2% from 2Q23 from controlled spending • Headcount down almost 4% quarter over quarter • Qualpay investment added approximately $2.8 million in incremental expense in 3Q23 versus 2Q23 • $2.3 million increase in healthcare insurance expense from Voluntary Employee Benefit Association (VEBA) • Expect FDIC special assessment of $47 million in 4Q23 • Expect relatively flat adjusted expenses in 2024 (2)

10 $294.1 $8.6 $4.0 $(0.8) $305.9 Adjusted 3Q22 Growth/Infrastructure Initiatives FDIC/ Healthcare Other Operating Adjusted 3Q23 Amounts may not total due to rounding; (1) Non-GAAP financial measure; see appendix for applicable reconciliation; (2) FDIC/Healthcare includes 2bps 2023 increase to FDIC assessment rate and increased employee health insurance costs Adjusted Expense Growth YoY(1) Non-Interest Expense (2) ($ in millions) Other Operating expenses relatively flat YoY

11 Credit Quality • NCOs primarily from previously announced C&I SNC and MOB loan sales • Excluding MOB sale, NCOs/average loans were 0.40% in 3Q23 • NPL ratio increased modestly to 0.64%, still below historical levels; Loans 30 Days Past Due still low at 0.13% • Built ACL further to 1.22% from 1.19% in 2Q23 due to credit migration trends • Expect 4Q23 NCOs to be 30 - 40 bps $26 $35 $32 $39 $73 $5 $13 $19 $26 $67 Provision for Credit Losses Net Charge-Offs 3Q22 4Q22 1Q23 2Q23 3Q23 0.04% 0.12% 0.17% 0.24% 0.61% 0.04% 0.12% 0.11% 0.23% 0.40% NCO Ratio: Loan Loss Provision and Net Charge-Offs ($ in millions) NCO Ratio: (Ex. Loan Sales) Loan Sale Charge-Offs

12 $479 $501 $514 $527 $533 1.13% 1.15% 1.17% 1.19% 1.22% Allowance for Credit Losses ACL Coverage Ratio 3Q22 4Q22 1Q23 2Q23 3Q23 393% 391% 282% 202% 190%ACL to NPLs: Credit Quality Allowance for Credit Losses (1) Criticized and Classified Loans as a % of Total Loans. 0.64% 0.40% 0.42% 0.32% 0.43% 0.41% 0.29% 0.59% 0.64% 0.27% 0.35% 0.31% 0.24% 0.14% 0.16% 0.15% 0.19% 0.13% 3.50% 2.44% 2.38% 1.73% 4.00% 3.19% 2.18% 3.00% 3.40% NPL Ratio Total Past Dues > 30 Days Ratio C&C % of Total Loans 3Q16 3Q17 3Q18 3Q19 3Q20 3Q21 3Q22 2Q23 3Q23 ($ in millions) Credit Trends (1)

13 9.52% 9.63% 9.77% 9.86% 10.13% Common Equity Tier 1 Tier 1 Tier 2 3Q22 4Q22 1Q23 2Q23 3Q23 • Now at targeted CET1 ratio level of above 10.0% • Capital build and preservation is near-term priority given the uncertain economic outlook • Over the medium-term, capital management could be more opportunistic, depending on economic outlook, credit migration and growth prospects Amounts may not total due to rounding; (1) 3Q23 capital ratios are preliminary; (2) Includes changes in phase-in impact of CECL transitional amount, intangible assets, and applicability of deferred tax assets. (1) 12.45% 10.59% 10.89% 12.80% 13.12% 11.18% Capital Capital Metrics 10.68% 12.54% Beginning CET1 Ratio (2Q23) Net Income Available to Common Shareholders Risk-Weighted Assets Common Dividends Other Ending CET1 Ratio (3Q23) (2) (1) CET1 Accretion Through Retained Earnings & Balance Sheet Optimization 12.72% 10.81% 9.86% 0.17% 0.19% (0.12)% 0.04% 10.13%

14 2023 Updated Guidance 4 - 6% Key Assumptions EoP Loan Growth(2) EoP Core Deposit(3) Growth Adjusted Revenue Growth(2)(4)(5) Adjusted NIE Growth(4)(5) Effective Tax Rate CET1 Guidance 1 - 4% 0 - 3% ~22% >10% by year-end 0 - 2% Updated Guidance(1) (1) Adj. NIE excludes FDIC special assessment (special assessment expected to be ~$47 million in 4Q23); (2) Not adjusting for PPP loans or PPP revenue in 2023 outlook given relatively immaterial impact to 2022 and 2023 forecasted results; (3) Excludes brokered; (4) Non-GAAP financial measure; see cautionary language on slide 2 and appendix for applicable reconciliation; (5) Guidance based on the 2022 baseline: adjusted revenue baseline of $2.21 billion and adjusted NIE of $1.16 billion. 0 - 2% 1 - 3% 1 - 2% 4 - 5% ~22% >10% • New loan origination focused on core relationships • Continued multi-family CRE fund-ups and growth in core C&I relationship business lines • 2H23 seasonal benefits and continued robust production should aid core deposit(3) growth • Assumes Fed holds at 5.50% through year end • Continued NIB remixing through year-end anticipated (assumes 4Q pace approximates 3Q run-off) • 46 - 47% total deposit beta range measured using estimated total deposit costs in Dec. 2023 • YoY Adjusted NIE impact: New initiatives (e.g., CIB/Maast/Qualpay) ~3.0%, FDIC assessment increase (2bps impact) / Increased healthcare costs ~1.5%, other core operating expenses ~0% • At targeted CET1 levels; expect continued near-term retention of capital generation • Future capital actions dependent on economic environment • Reflects impact of new federal tax credit investments Prior Guidance

15 NTM PPNR Impact • Frees expense capacity for higher returning fee businesses • Benefit to liquidity and capital • Improvement to expense run-rate • No client impact and provides capital for higher returning businesses • Benefit to liquidity and capital • Provides capital for higher returning businesses Third Party Auto Loan Sale Medical Office Building Loan Sale GLOBALT Sale ~($21MM) ~($2MM) ~$10MM Recent Strategies PPNR Accretive and Supportive to Future Growth 2Q23 & 3Q23 Expense Actions ~$16MM Note: PPNR Impacts are estimated next twelve months impact; (1) Data for SNV proxy peers as of 6/30/23; (2) SNV data as of 9/30/23; (3) Wholesale Funding Ratio is defined as (Short-term Borrowings + Long-term Borrowings + Brokered Deposits) / Total Assets • Mortgage, tech, operations FTE reductions in 2Q23 • Voluntary Early Retirement Program in 3Q23 • In total, reduced headcount by nearly 4% in 3Q23 Wholesale Funding/Assets (1)(2)(3) Office CRE Loans/Total Loans (1)(2) CET1 Ratio (1)(2) (14)% (36)% Percent Change from 2Q23 to 3Q23 27 bps

16 Strategic Plan Fundamentals Enhance Profitability Continued Expense Optimization & Business Simplification • Expense rationalization efforts should result in relatively flat Adjusted Expenses in 2024(1) • Continue to evaluate opportunities to simplify and streamline client service delivery Balance Sheet • Continued rationalization of low return, credit-only relationships provides growth capital for core relationship C&I business lines Deepen Relationships • Treasury and Payment Solutions ◦ 17% CAGR in TPS fees since 2020 ◦ Continued expansion of Accelerate AR and FX solutions ◦ Near-term launch of payments solutions (Accelerate Pay) • Business Owner Wealth Strategy ◦ Targeting 1,000 new households over next 3 years ◦ Estimated $30M revenue potential • Capital Markets ◦ Tracking >$10MM in annual revenue run rate for agent bank capabilities ◦ Further growth expected from Middle Market and CIB expansion Grow the Bank • Middle Market Commercial ◦ 24% addition to RM headcount since 2019 • Further Syndication / Agent Capabilities ◦ Investing in technology platform to scale primary agent capabilities • CIB ◦ PPNR positive since 2Q23 ◦ Broad-based new client wins in Syndicated Finance, DCM, TPS, and other products • Non-Bank Sponsorship Expansion ◦ Anticipate expansion of Banking as a Service offerings • Maast ◦ 9 active ISV relationships ◦ Pipeline of 41 ISVs for 2024 expansion BUILT ON A STRONG FOUNDATION FROM RECENT ACTIONS AND BALANCE SHEET TAILWINDS (1) Excludes expected $47 million FDIC special assessment in 4Q23

Appendix

18 3Q23 Non-recurring Items $1.9MM GLOBALT sale gain $0.9MM increase to Visa derivative accrual Net valuation adjustment of $31.0MM in non- interest expense from auto and MOB loan sales Gain on early extinguishment of debt of $0.5MM from open market repurchases of $9.0MM of $300MM par value 2029 Parent company subordinated debt $17.3MM restructuring charge largely from $18.4MM in VERP termination benefits

19 $4,350 $3,850 $4,100 $4,100 $3,350 $3,350 $3,350 $250 $750 $1,000 $1,000 $1,000 $1,250 $1,500 1.95% 2.30% 2.37% 2.37% 2.68% 2.78% 2.98% Effective Hedges Forward Starting Hedges Effective Rate 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Earning Assets Composition 60% 61% 64% 63% 62% 40% 38% 37% 37% 38% 4.60% 5.36% 5.89% 6.17% 6.34% Floating Rate Fixed rate Yield 3Q22 4Q22 1Q23 2Q23 3Q23 $11,277 $11,273 $11,176 $11,174 $11,175 1.92% 2.08% 2.16% 2.16% 2.20% Securities Yield 3Q22 4Q22 1Q23 2Q23 3Q23 Amounts may not total due to rounding; (1) Amortized cost; (2) Represents period-end Total Notional outstanding of effective cash-flow loan hedges, including forward starting hedges as they transition to their effective periods, along with the estimated effective fixed-rate for the respective period; (3) NII sensitivity estimates reflect a dynamic balance sheet; beta sensitivity estimates represent approximations, based on total deposit cost betas; (4) AFS unrealized loss projections are based on the forward interest rate curve as of 9/30/23 and incorporate various assumptions, including those related to prepayments and tax rates ($ in millions) Derivative Hedge Portfolio(2) Loan Portfolio Rate Mix and Yield Total Securities Portfolio Size(1) 12-Month NII Sensitivity: Rates & Betas(3) Parallel Shock % NII Impact +100bps 2.4% -100bps (2.6)% +100 Shock % NII Impact ~ 30 Beta 5.1% ~ 40 Beta 2.4% ~ 50 Beta ~0.3% AFS Securities & Cash Flow Hedges: Unrealized Loss in AOCI(4) Securities AOCI Swap AOCI 3Q23 4Q24E 4Q25E $1.7B $1.3B $1.1B

20 Repricing Term Rate Structure 3 mos or less 3-12 mos 1-3 Years 3-5 Years 5-15 Years Over 15 Years Total Variable Rate Fixed Rate Non-real estate $ 11,267 $ 721 $ 458 $ 657 $ 874 $ 171 $ 14,148 $ 11,556 $ 2,592 Owner occupied 3,331 178 622 735 1,509 4 6,379 3,379 3,000 Commercial & Industrial 14,598 899 1,080 1,392 2,383 175 20,527 14,935 5,592 Construction, A&D 2,305 131 138 162 132 27 2,895 2,208 687 Income producing 7,871 298 1,020 1,190 925 43 11,347 7,986 3,361 Commercial Real Estate 10,176 429 1,158 1,352 1,057 70 14,242 10,194 4,048 Residential mortgages 1,482 155 230 420 861 4,444 7,592 1,391 6,201 Other consumer 485 30 192 188 349 75 1,319 481 838 Total $ 26,741 $ 1,513 $ 2,660 $ 3,352 $ 4,650 $ 4,764 $ 43,680 27,001 16,679 % of Total 61 % 3 % 6 % 8 % 11 % 11 % Loans - Repricing and Maturity ($ in thousands) Amounts are preliminary and may not total due to rounding. Note: Loan category totals are based on Fed call codes related to regulatory reporting Call Report instructions for Synovus Bank.

21 Fed Funds Lines, $1.7 Discount Window (ex-BTFP), $8.6 Other Contingent Sources, $2.8 Unencumbered Securities, $4.7 FHLB Borrowing Capacity, $6.7 Third-Party Loans , $0.8 FRB Reserves, $1.4 Robust Contingent Sources of Liquidity ($ in billions, as of 9/30/23) Unpledged loans of $20+ billion not reflected in the chart above $26.7B Total (2) (3) $50,204 $(27,777) $(6,701) $(8,791) $6,935 Total Deposits Insured Collateralized Public Funds ICS Availability 9/30/23 Remaining 9/30/23 $10B ICS Total Capacity 12% utilized at 9/30/23 ~86% of deposits insured, collateralized or insurable through our ICS capacity(1) Liquidity Amounts may not total due to rounding; (1) Insurability through ICS at the election of the client; (2) Includes HFS portfolio of approx. $18 million at marked fair value, as well as HFI portfolio (3) Other Contingent Sources include incremental liquidity available via FRB's Bank Term Funding Program, as well as other documented sources. 3Q23 Deposit Walkdown ($ in millions)

22 2Q23 3Q23 September 2023 ($ in millions; rates annualized) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Rate Non-interest-bearing $13,874 N/A $13,049 N/A N/A Interest-bearing non-maturity (NMD) $24,636 2.08% $24,440 2.41% 2.53% Time $4,866 3.26% $6,181 3.85% 4.00% Brokered $6,343 4.73% $6,443 5.14% 5.23% Total interest-bearing $35,845 2.71% $37,063 3.13% 3.24% Total deposits $49,719 1.95% $50,113 2.31% 2.41% Total Average Deposit Costs

23 2Q23 MOB Performance Net Growth (ex MOB) Economic Forecast Impact Other 3Q23 Allowance for Credit Losses ($ in millions) ACL/Loans: Economic Scenario Assumptions and Weightings 1.19% 1.22% (1) (1) Other includes the impact of dispositions, sub-pool changes, etc.; (2) Upside refers to Moody’s June 2023 "S1" Upside 10th Percentile scenario; (3) Downside scenarios carry a total weighting of 40% and correspond to Moody’s August 2023 "S5" Slow Growth scenario and "S3" Downside 90th Percentile scenario; (4) August 2023 Moody's model estimates. 3Q23 2024(4) 2025(4) Scenario Model Weighting GDP Unemployment GDP Unemployment Consensus Baseline 50% 0.8% 4.6% 2.0% 4.4% Upside(2) 10% 3.2% 3.1% 2.5% 3.5% Downside(3) 10% (1.7)% 7.3% 1.4% 7.2% Slow Growth(3) 30% 0.7% 4.9% 1.4% 5.1% Weighted Average 100% 0.8% 4.8% 1.8% 4.8% $527 $(23) $21 $1 $3 $533$4

24 • 92% are income-producing properties • Diversity among property types and geographies • Specialty lending(2) is well-diversified among multiple lines-of-business • C&I industry mix aligned with economic and demographic drivers • SNCs total $4.2 billion, $500 million of which is agented by SNV • Weighted average credit score of 796 and 783 for Home Equity and Mortgage, respectively • Weighted average LTV of 73% and 72% for Home Equity and Mortgage, respectively(1) Consumer Portfolio $8.5 billion CRE Portfolio $12.4 billion C&I Portfolio $22.8 billion Consumer R/E Related 16.4% C&I Specialty Lending(2) 23.4% Middle Market & Commercial Banking 28.8% Hotel 4.1%Shopping Centers 3.0% Office Bldg. 4.4% Multi- Family 9.0% Other CRE Prop. Types 6.6% Residential Constr, Dev, Land 1.3% Consumer CRE C&I Portfolio Characteristics Consumer CRE C&I NPL Ratio 0.75% 0.28% 0.80% QTD Net Charge-off Ratio (annualized)(3) 0.33% 0.73% 0.65% 30+ Days Past Due Ratio 0.40% 0.03% 0.08% 90+ Days Past Due Ratio 0.02% 0.00% 0.01% Consumer Non-R/E 3.0% Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 9/30/2023 commitment amount and any existing senior lien; (2) Specialty lending is primarily comprised of our senior housing portfolio, national accounts, structured lending (primarily lender finance) and insurance premium finance; (3) 3Q23 CRE Net Charge Offs impacted by $23.3 million related to sale of Medical Office portfolio Loan Portfolio by Category

25 Office Building Multi-Family Hotels Shopping Center Other Investment Properties Warehouses 1-4 Family Perm/Mini-Perm 1-4 Family Construction Residential Development Land Acquisition Commercial Development Commercial Real Estate Composition of 3Q23 CRE Portfolio Total Portfolio $12.4 billion Investment Properties Land, Development and Residential Properties Portfolio Characteristics (as of September 30, 2023) Office Building Multi-family Shopping Centers Hotels Other Investment Properties Warehouse Residential Properties(1) Development & Land Balance (in millions) $1,911 $3,931 $1,328 $1,790 $1,432 $986 $621 $396 Weighted Average LTV(2) 58.1% 53.6% 57.2% 57.9% 53.2% 57.0% N/A N/A NPL Ratio 1.46% 0.04% 0.05% 0.00% 0.04% 0.02% 0.55% 0.20% Net Charge-off Ratio (annualized) 4.19%(3) 0.00% 0.01% 0.00% 0.44%(3) 0.00% (0.01)% (0.19)% 30+ Days Past Due Ratio 0.00% 0.02% 0.00% 0.00% 0.03% 0.00% 0.28% 0.03% 90+ Days Past Due Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Investment Properties portfolio represent 92% of total CRE portfolio • The portfolio is well diversified among property types • Credit quality in Investment Properties portfolio remains excellent CRE Credit Quality • 0.28% NPL Ratio • 0.73% Net Charge-Off Ratio (annualized) ◦ (0.01%) CRE NCOs Ratio (annualized), excluding impact of MOB sale • 0.03% 30+ Day Past Due Ratio • 0.00% 90+ Day Past Due Ratio Amounts may not total due to rounding; (1) Includes 1-4 Family Construction and 1-4 Family Perm/Mini-Perm (primarily rental homes); (2) LTV calculated by dividing most recent appraisal (typically at origination) on non-construction component of portfolio by the 9/30/23 commitment amount. (3) Stated Charge-off ratio includes the impact of MOB sale 1.8% 0.7% 1.9% 0.5% 31.7%10.7% 14.4% 11.6% 15.4% 8.0% 3.2%

26(1) LTV = Current note balance as of 9/30/2023 divided by appraised value at origination or updated value, whichever is more recent; (2) Major tenant is defined as contributing more than 20% to NOI; sample set on this analysis and Loan Maturities chart includes office loans greater than $1mm as of 8/31/2023, and comprises over 92% of the office portfolio; (3) Large demand driver would be a significant enterprise that drives demand for the office product, such as government facility, major campus, etc.; (4) Rent growth and supply statistics are 3Q23 numbers from CoStar and represent weighted averages by loan balance. (5) Based on loan dollars 2013 Average effective age of office collateral 58.1% Average LTV(1) on office loans Major tenant (2) rollover on non-medical office loans SNV Top 5 Markets Completions as % of Inventory(4) Top 5 MSAs Current Balance (mm) LTV(1) 1) Atlanta $299 58% 2) Charleston $172 58% 3) Charlotte $122 62% 4) Tampa $126 46% 5) Miami $99 55% Top 5 Loans and Location Current Balance (mm) LTV(1) 1) Naples $50 56% 2) Charleston $45 59% 3) Atlanta $42 73% 4) Atlanta $41 54% 5) Jacksonville $40 63% 5.4% 2.3% 2008 2023 (0.1)% 2.8% National Loan Weighted 3Q23 Rent Growth: SNV Markets vs. US Average(4) 17% 15% 67% 2024 2025 2026+ Loan Maturities(2)(5) Office Portfolio Analysis: $1.9B 3Q23 Key Credit Statistics: NPL Ratio: 1.46% NCO Ratio: 4.19% (0.00% excluding impact of MOB sale) 90 DPD Ratio: 0.00% $2.7mm Average size of office loans $454k Median size of office loans 8.0% 9.0% 83% 2023 2024 2025+ CBD/Core 19.1% Suburban near Large Demand Driver 13.1% Suburban 45.9% Medical 21.9% Loan Location Classification SNV (3) Includes remaining MOB loans of $400MM, primarily originated within our Community Bank (2) (2)

27 Credit Indicator 3Q23 NPL Ratio 0.80% Net Charge-off Ratio (annualized) 0.65% 30+ Days Past Due Ratio 0.08% 90+ Days Past Due Ratio 0.01% • Wholesale Bank (includes Large Corporate, Middle Market, and Specialty Lines) represents 73% of C&I balances • Finance/Insurance predominantly represented by secured lender finance portfolio ◦ 0.00% NPL Ratio ◦ 0.00% Net Charge-Off Ratio (annualized) ◦ 0.00% 30+ Day Past Due Ratio • Senior Housing consists of 87% private pay assisted living/ independent living facilities Diverse Industry Exposure Total C&I Portfolio $22.8 billion 19.0% 15.2% 6.3% 6.3% 5.9% 5.3% 5.0% 5.0% 4.9% 4.2% 4.1% 4.0% 3.5% 2.9% 2.5% 2.0% 1.8% 1.2% 1.1% Finance/Insurance Senior Housing Accom. & Food Svcs. Health Care Manufacturing R/E Other Wholesale Trade Retail Trade Construction Transport/Warehousing Prof., Scientific, Tech. Svcs. Other Services R/E Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Admin., Support, Waste Mg... Ag, Forestry, Fishing Amounts may not total due to rounding; (1) These segments are not two digit NAICS industry divisions; Senior Housing is a subset of NAICS 62 Health Care and Social Assistance, and R/E other and R/E leasing together comprise NAICS 53 Real Estate, Rental, and Leasing (1) (1) (1) C&I Portfolio

28 Credit Indicator 3Q23 NPL Ratio 0.75% Net Charge-off Ratio (annualized) 0.33% 30+ Days Past Due Ratio 0.40% 90+ Days Past Due Ratio 0.02% Total Consumer Portfolio $8.5 billion Credit Indicator Home Equity Mortgage Weighted Average Credit Score of 3Q23 Originations 787 773 Weighted Average Credit Score of Total Portfolio 796 783 Weighted Average LTV(1) 73.3% 71.7% Average DTI(2) 35.8% 30.8% Utilization Rate 37.7% N/A 63.4% 21.0% 9.1% 4.3% 2.2% Consumer Mortgage Home Equity Third-Party HFI Other Consumer Credit Card Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 9/30/2023 commitment amount and any existing senior lien; (2) Average DTI of 3Q23 originations. Consumer Credit Quality Consumer Portfolio • 84% of Consumer portfolio is backed by residential real estate • Other Consumer includes secured and unsecured products • Average consumer card utilization rate is 22.5% • Third party HFI portfolio $776 million

29 Risk Distribution ($ in millions) Composition Change Risk Category 3Q23 2Q23 3Q23 vs. 2Q23 Passing Grades $42,196 $43,021 $(825) Special Mention 568 543 25 Substandard Accruing 635 528 107 Non-Performing Loans 281 262 19 Total Loans $43,680 $44,354 $(674) Amounts may not total due to rounding. $1,222 $1,028 $1,032 $914 $929 $942 $1,086 $1,333 $1,484 3.2% 2.6% 2.6% 2.2% 2.2% 2.2% 2.5% 3.0% 3.4% Criticized and Classified Loans % of Total Loans 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Portfolio Risk DistributionCriticized & Classified Loans

30 3Q22 4Q22 1Q23 2Q23 3Q23 Financial Performance Diluted EPS $1.33 $1.35 $1.32 $1.13 $0.60 Net interest margin 3.47% 3.56% 3.43% 3.20% 3.11% Efficiency ratio-TE 50.41% 51.08% 52.33% 53.99% 64.11% Adjusted tangible efficiency ratio(1) 49.98% 50.58% 50.48% 52.57% 55.01% ROAA(2) 1.39% 1.38% 1.36% 1.15% 0.64% Adjusted ROAA(1)(2) 1.39% 1.39% 1.37% 1.18% 0.87% Balance Sheet QoQ Growth Total loans 3% 3% 1% 1% (2)% Total deposits (3)% 2% 2% —% —% Credit Quality NPA ratio 0.32% 0.33% 0.41% 0.59% 0.64% NCO ratio(2) 0.04% 0.12% 0.17% 0.24% 0.61% Capital Common shares outstanding(3) 145,443 145,487 146,059 146,153 146,205 Leverage ratio 9.04% 9.07% 9.14% 9.23% 9.38% Tangible common equity ratio(1) 5.52% 5.84% 6.12% 6.17% 5.90% Amounts may not total due to rounding; (1) Non-GAAP financial measure; see applicable reconciliation; (2) Annualized; (3) In thousands; (4) Preliminary. (4) Quarterly Highlights Trend

31 ($ in thousands, except per share data) 3Q23 2Q23 3Q22 Net interest income $443,159 $455,531 $477,919 Non-interest revenue 107,139 112,276 104,298 Non-interest expense 353,532 307,181 294,010 Provision for (reversal of) credit losses 72,572 38,881 25,581 Income before income taxes $124,194 $221,745 $262,626 Income tax expense 27,729 47,801 59,582 Net income 96,465 173,944 203,044 Less: Net income (loss) attributable to noncontrolling interest (630) (166) — Net income attributable to Synovus Financial Corp. 97,095 174,110 203,044 Less: Preferred stock dividends 9,672 8,291 8,291 Net income available to common shareholders $87,423 $165,819 $194,753 Weighted average common shares outstanding, diluted 146,740 146,550 146,418 Net income per common share, diluted $0.60 $1.13 $1.33 Condensed Income Statement Amounts may not total due to rounding.

32 ($ in thousands, except per share data) 3Q23 2Q23 3Q22 Net income available to common shareholders $87,423 $165,819 $194,753 Loss (gain) on other loans held for sale 30,954 2,360 — Restructuring charges (reversals) 17,319 (110) 956 Gain on sale of GLOBALT (1,929) — — (Gain) loss on early extinguishment of debt (526) (377) — Valuation adjustment to Visa derivative 900 3,027 — Tax effect of adjustments(1) (11,371) (1,193) (228) Adjusted net income available to common shareholders $122,770 $169,526 $195,481 Weighted average common shares outstanding, diluted 146,740 146,550 146,418 Net income per common share, diluted $0.60 $1.13 $1.33 Adjusted net income per common share, diluted $0.84 $1.16 $1.34 Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 3Q23 and 2Q23 and 23.8% for 3Q22 was applied. Non-GAAP Financial Measures

33 ($ in thousands) 3Q22 4Q22 1Q23 2Q23 3Q23 Net income $203,044 $205,770 $202,159 $173,944 $96,465 Recovery of NPA — — (13,126) — — Loss (gain) on other loans held for sale — — 16,750 2,360 30,954 Restructuring charges (reversals) 956 (2,372) (733) (110) 17,319 Gain on sale of GLOBALT — — — — (1,929) Valuation adjustment to Visa derivative — 2,500 — 3,027 900 Gain (loss) on early extinguishment of debt — — — (377) (526) Investment securities losses (gains), net — — (1,030) — — Tax effect of adjustments(1) (228) (31) (453) (1,193) (11,371) Adjusted net income $203,772 $205,867 $203,567 $177,651 $131,812 Net income annualized $805,555 $816,370 $819,867 $697,687 $382,714 Adjusted net income annualized $808,443 $816,755 $825,577 $712,556 $522,950 Total average assets $58,055,978 $58,963,417 $60,133,561 $60,515,077 $59,916,679 Return on average assets 1.39% 1.38% 1.36% 1.15% 0.64% Adjusted return on average assets 1.39% 1.39% 1.37% 1.18% 0.87% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 3Q23, 2Q23, 1Q23, and 4Q22 and 23.8% for 3Q22 was applied. Non-GAAP Financial Measures, Continued

34 ($ in thousands) 3Q23 2Q23 3Q22 Net income available to common shareholders $87,423 $165,819 $194,753 Loss (gain) on other loans held for sale 30,954 2,360 — Restructuring charges (reversals) 17,319 (110) 956 Gain on sale of GLOBALT (1,929) — — Valuation adjustment to Visa derivative 900 3,027 — Gain (loss) on early extinguishment of debt (526) (377) — Tax effect of adjustments(1) (11,371) (1,193) (228) Adjusted net income available to common shareholders $122,770 $169,526 $195,481 Adjusted net income available to common shareholders annualized $487,077 $679,967 $775,550 Amortization of intangibles, tax effected, annualized $9,131 $7,344 $6,401 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $496,208 $687,311 $781,951 Net income available to common shareholders annualized $346,841 $665,098 $772,661 Amortization of intangibles, tax effected, annualized $9,131 $7,344 $6,401 Net income available to common shareholders excluding amortization of intangibles annualized $355,972 $672,442 $779,062 Total average Synovus Financial Corp. shareholders' equity less preferred stock $4,223,422 $4,303,722 $4,141,516 Average goodwill $(476,408) $(460,118) $(452,390) Average other intangible assets, net $(59,016) $(36,738) $(30,214) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $3,687,998 $3,806,866 $3,658,912 Return on average common equity 8.2% 15.5% 18.7% Adjusted return on average common equity 11.5% 15.8% 18.7% Return on average tangible common equity 9.7% 17.7% 21.3% Adjusted return on average tangible common equity 13.5% 18.1% 21.4% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 3Q23 and 2Q23 and 23.8% for 3Q22 was applied.

35 Non-GAAP Financial Measures, Continued ($ in thousands) 3Q22 4Q22 1Q23 2Q23 3Q23 Total non-interest revenue $104,298 $102,439 $133,126 $112,276 $107,139 Gain on sale of GLOBALT — — — — (1,929) Investment securities (gains) losses, net — — (1,030) — — Recovery of NPA — — (13,126) — — Fair value adjustment on non-qualified deferred compensation 1,076 (1,557) (1,371) (1,598) 1,035 Adjusted non-interest revenue $105,374 $100,882 $117,599 $110,678 $106,245 Total non-interest expense $294,010 $308,996 $321,852 $307,181 $353,532 Loss on other loans held for sale — — (16,750) (2,360) (30,954) Restructuring (charges) reversals (956) 2,372 733 110 (17,319) Fair value adjustment on non-qualified deferred compensation 1,076 (1,557) (1,371) (1,598) 1,035 Valuation adjustment to Visa derivative — (2,500) — (3,027) (900) Gain (loss) on early extinguishment of debt — — — 377 526 Adjusted non-interest expense $294,130 $307,311 $304,464 $300,683 $305,920 Amounts may not total due to rounding.

36 ($ in thousands) 3Q22 4Q22 1Q23 2Q23 3Q23 Adjusted non-interest expense $294,130 $307,311 $304,464 $300,683 $305,920 Amortization of intangibles (2,118) (2,118) (1,857) (2,420) (3,042) Adjusted tangible non-interest expense $292,012 $305,193 $302,607 $298,263 $302,878 Net interest income $477,919 $501,346 $480,751 $455,531 $443,159 Total non-interest revenue 104,298 102,439 133,126 112,276 107,139 Total revenue 582,217 603,785 613,877 567,807 550,298 Tax equivalent adjustment 972 1,131 1,119 1,138 1,148 Total TE revenue 583,189 604,916 614,996 568,945 551,446 Recovery of NPA — — (13,126) — — Investment securities losses (gains), net — — (1,030) — — Gain on sale of GLOBALT — — — — (1,929) Fair value adjustment on non-qualified deferred compensation 1,076 (1,557) (1,371) (1,598) 1,035 Adjusted revenue $584,265 $603,359 $599,469 $567,347 $550,552 Efficiency ratio-TE 50.4% 51.1% 52.3% 54.0% 64.1% Adjusted tangible efficiency ratio 50.0% 50.6% 50.5% 52.6% 55.0% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding.

37 ($ in thousands) 3Q22 4Q22 1Q23 2Q23 3Q23 Total assets $58,639,522 $59,731,378 $61,840,025 $60,655,591 $59,342,930 Goodwill (452,390) (452,390) (452,390) (475,573) (479,851) Other intangible assets, net (29,242) (27,124) (25,267) (61,538) (49,096) Tangible assets $58,157,890 $59,251,864 $61,362,368 $60,118,480 $58,813,983 Total Synovus Financial Corp. shareholders’ equity $4,229,715 $4,475,801 $4,770,130 $4,782,528 $4,536,958 Goodwill (452,390) (452,390) (452,390) (475,573) (479,851) Other intangible assets, net (29,242) (27,124) (25,267) (61,538) (49,096) Preferred Stock, no par value (537,145) (537,145) (537,145) (537,145) (537,145) Tangible common equity $3,210,938 $3,459,142 $3,755,328 $3,708,272 $3,470,866 Total Synovus Financial Corp. shareholders’ equity to total assets ratio 7.21% 7.49% 7.71% 7.88% 7.65% Tangible common equity ratio 5.52% 5.84% 6.12% 6.17% 5.90% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding.