Synovus Financial Corp. (SNV) Financial Statements (2024 and earlier)

Company Profile

Business Address 1111 BAY AVENUE
COLUMBUS, GA 31901
State of Incorp. GA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 12,898667,024466,851563,449563,693491,397
Cash and cash equivalents  658,729458,460552,569556,481488,267
Short-term investments 12,8988,2958,39110,8807,2123,130
Financing receivable, accrued interest, after allowance for credit loss256,300   
Total current assets:269,198667,024466,851563,449563,693491,397
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 7851,4002,200  
Operating lease, right-of-use asset     374,716
Property, plant and equipment      434,307
Debt securities, available-for-sale, accrued interest, after allowance for credit loss26,600   
Intangible assets, net (including goodwill)572,296506,638523,582542,614608,60977,065
Goodwill480,440452,390452,390452,390497,26757,315
Intangible assets, net (excluding goodwill)91,85654,24871,19290,224111,34219,750
Deferred income tax assets  595,317169,051130,84865,102
Total noncurrent assets:599,6811,103,355694,833673,4621,048,427511,372
Other undisclosed assets58,940,65557,960,99956,155,54253,157,24846,591,16231,666,423
TOTAL ASSETS:59,809,53459,731,37857,317,22654,394,15948,203,28232,669,192
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt3,496603,384 235,6391,919,250887,692
Total current liabilities:3,496603,384 235,6391,919,250887,692
Noncurrent Liabilities
Other undisclosed liabilities54,661,89054,652,19352,020,42648,997,18641,342,34228,647,898
Total liabilities:54,665,38655,255,57752,020,42649,232,82543,261,59229,535,590
Equity
Equity, attributable to parent, including:5,119,9934,475,8015,296,8005,161,3344,941,6903,133,602
Preferred stock537,145537,145537,145537,145537,145 
Common stock171,360170,141169,384168,133166,801143,300
Treasury stock, value(944,484)(944,484)(931,497)(731,806)(715,560)(1,014,746)
Additional paid in capital3,955,8193,920,3463,894,1093,851,2083,819,3363,060,561
Accumulated other comprehensive income (loss)(1,117,073)(1,442,117)(82,321)158,63565,641(94,420)
Retained earnings2,517,2262,234,7701,709,9801,178,0191,068,327843,767
Other undisclosed equity, attributable to parent      195,140
Equity, attributable to noncontrolling interest24,155     
Total equity:5,144,1484,475,8015,296,8005,161,3344,941,6903,133,602
TOTAL LIABILITIES AND EQUITY:59,809,53459,731,37857,317,22654,394,15948,203,28232,669,192

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues885,2411,048,730883,109839,68741,6081,235,271
Brokerage commissions revenue56,43944,78141,608 
Gain (loss) on disposition of assets for financial service operations(76,718)12,12641,714146,046  
Net investment income2,733,7751,847,71934,63529,756 1,235,271
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(189,303)(68,983) (355,000)(87,720)(51,697)
Gross profit:695,938979,747883,109484,687(46,112)1,183,574
Operating expenses(323,791)(290,846)(295,918)(350,969)(350,853)(246,790)
Other operating income, net
(Noninterest Income, Other Operating Income)
      57,061
Operating income (loss):372,147688,901587,191133,718(396,965)993,845
Nonoperating income31,42929,72038,019110,228 15,403
Investment income, nonoperating    78,931  
Bank owned life insurance income31,42929,72038,01931,297 15,403
Interest and debt expense(1,233,703)(278,887)(120,396)(291,747)(459,427)(195,892)
Other undisclosed income from continuing operations before equity method investments, income taxes    532,4661,621,407 
Income (loss) from continuing operations before equity method investments, income taxes:(830,127)439,734504,814484,665765,015813,356
Other undisclosed income (loss) from continuing operations before income taxes1,526,289524,443484,546  (266,002)
Income from continuing operations before income taxes:696,162964,177989,360484,665765,015547,354
Income tax expense(154,021)(206,275)(228,893)(110,970)(201,235)(118,878)
Income from continuing operations:542,141757,902760,467373,695563,780428,476
Income before gain (loss) on sale of properties:760,467373,695563,780428,476
Net income:542,141757,902760,467373,695563,780428,476
Net income attributable to noncontrolling interest1,564     
Net income attributable to parent:543,705757,902760,467373,695563,780428,476
Preferred stock dividends and other adjustments(35,950)(33,163)(33,163)(33,163)(22,881)(17,998)
Net income available to common stockholders, diluted:507,755724,739727,304340,532540,899410,478

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:542,141757,902760,467373,695563,780428,476
Other comprehensive income (loss)325,044(1,359,796)(240,956)92,994160,061(32,195)
Comprehensive income (loss):867,185(601,894)519,511466,689723,841396,281
Comprehensive income, net of tax, attributable to noncontrolling interest1,564     
Comprehensive income (loss), net of tax, attributable to parent:868,749(601,894)519,511466,689723,841396,281

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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