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Profile: Synovus Financial Corp (SNV.N)

SNV.N on New York Stock Exchange

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Synovus Financial Corp., incorporated on June 9, 1972, is a financial services company and a bank holding company. The Company provides integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services, to its customers through locally branded banking divisions of its subsidiary bank, Synovus Bank (the Bank), and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee. The Company also provides life insurance premium financing. As of December 31, 2016, the Bank operated through 28 locally branded bank divisions throughout Alabama, Florida, Georgia, South Carolina and Tennessee. The Bank offers commercial banking services and retail banking services. The Bank's commercial banking services include cash management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans.

The Bank's retail banking services include accepting customary types of demand and savings deposits accounts; mortgage, installment and other retail loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services, and bank credit card services, including MasterCard and Visa services. The Company's subsidiary, Synovus Securities, Inc., specializes in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management and financial planning services, and the provision of individual investment advice on equity and other securities. The Company's subsidiary, Synovus Trust Company, N.A., provides trust services, and its subsidiary, Synovus Mortgage Corp., offers mortgage services.

Lending Activities

As of December 31, 2016, the Bank's loan portfolio included loans for investment properties; loans for one- to four-family properties; land acquisition loans; commercial, financial and agricultural loans; home equity lines; consumer mortgages; credit cards, and other retail loans. As of December 31, 2016, the Bank's total loans amounted to $23.86 billion.

Investment Activities

The Company's investment securities portfolio consists principally of debt securities classified as available for sale. As of December 31, 2016, $2.04 billion of its investment securities were pledged to secure certain deposits and securities sold under repurchase agreements as required by law and contractual agreements. As of December 31, 2016, its investment securities available for sale included the United States Treasury securities, the United States government agency securities, securities issued by the United States government sponsored enterprises, mortgage-backed securities issued by the United States government agencies, mortgage-backed securities issued by the United States government sponsored enterprises, collateralized mortgage obligations issued by the United States government agencies or sponsored enterprises, state and municipal securities, equity securities and other investments. As of December 31, 2016, its investment securities portfolio had a total fair value of $3.72 billion.

Sources of Funds

Core deposits represent the primary source of funds for lending and investing activities. Scheduled payments, as well as prepayments, from its loan and investment portfolios also provide a source of funds. Additional funding sources, which provide liquidity, include the Federal Home Loan Banks (FHLB) advances, brokered deposits and other short-term borrowed funds, as well as equity and debt issued through the capital markets. Deposits are attracted principally from customers within its retail branch network through the offering of an array of deposit products to individuals and businesses, including non-interest bearing demand deposit accounts, interest-bearing demand deposit accounts, savings accounts, money market deposit accounts and time deposit accounts. As of December 31, 2016, the Bank's total average deposits amounted to $23.88 billion.

Company Address

Synovus Financial Corp

1111 Bay Ave Ste 500
COLUMBUS   GA   31901-5269
P: +1706.6495292

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