secwatch.observer — SEC 8-K summary
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Issuer:     SYNOVUS FINANCIAL CORP (—)
CIK:        0000018349
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000018349-24-000068
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synovus Q1 net income $124.5M, down 38% YoY; EPS $0.78 vs $1.32
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- Net income $124.5M ($0.78 diluted EPS) vs $202.2M ($1.32) in Q1 2023, down 38% YoY.
- Net interest income $418.8M, down 13% YoY; net interest margin 3.04% vs 3.43% a year ago.
- Provision for credit losses $54M, up 68% YoY; net charge-offs $44.4M vs $18.6M.
- Non-performing loans $350M, up 92% YoY; NPL/loans ratio 0.81% vs 0.41%.
- CET1 ratio 10.38%, tangible book value $27.03 per share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/18349/000001834924000068/0000018349-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/18349/000001834924000068/syn-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000018349-24-000068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer