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- **Record Q3 Results**: Adjusted EPS up 19% YoY to $1.46, driven by NIM expansion and fee income growth.
- **Merger Momentum**: Pro forma CET1 10.1% at close; 2026 revenue synergies expected to accelerate growth.
- **Loan & Fee Growth**: Loan production +43% YoY; wealth and capital markets revenue up 4% and 8% QoQ.
- **Credit Strength**: Lowest charge-offs in 3 years; CET1 ratio at 11.24%, highest ever.
- **Hiring Surge**: 74 new revenue producers YTD; 80+ hires targeted in 2026 post-merger.

**【CEO Opening Remarks】**
- Reported Q3 2025 GAAP EPS of $1.33 and adjusted EPS of $1.46, up 19% YoY. Adjusted PPNR grew 5% QoQ and 12% YoY.
- Key drivers: net interest margin expansion, healthy noninterest revenue, and lower credit losses.
- Highlighted merger with Pinnacle Financial Partners, expected to close in Q1 2026. Pro forma CET1 ratio now 10.1% due to favorable rate environment.
- Emphasized hiring momentum (74 new revenue producers YTD) and focus on fee income growth.

**【CFO Financial Commentary】**
- GAAP net income: $133M; adjusted EPS: $1.46 (up 19% YoY). Adjusted revenue +9% YoY, driven by wealth (+4% QoQ) and capital markets (+8% QoQ).
- Net interest margin (NIM) expanded 4bps to 3.41%, driven by loan yield growth and fixed-rate asset repricing.
- Loan production jumped 43% YoY, but period-end growth limited by higher payoffs and lower CIB utilization.
- Core deposits declined $231M (1% QoQ) due to strategic public funds decline, offset by CD growth.
- Adjusted noninterest expense +3% QoQ, +6% YoY, with $24M merger-related costs.
- Credit metrics: net charge-offs 4bps, NPA ratio 0.53%, stable allowance at 1.19%.
- CET1 ratio 11.24%, highest in company history.

**【Q&A Highlights】**
- **Capital Post-Merger**: Pro forma CET1 10.1% at close; expect 35-40bps quarterly capital generation post-close.
- **Deposit Growth**: Q4 deposit growth expected to rebound, with $2.6B new production Q3 (+18% QoQ).
- **Hiring**: Accelerated talent acquisition post-merger, targeting 80+ revenue producers in 2026.
- **Credit Performance**: Lowest net charge-offs in 3 years; stable credit quality outlook.
- **Merger Integration**: Leadership teams finalized; 2026 pro forma guidance to be issued post-close.
- **Loan Payoffs**: Elevated payoffs expected to moderate, with strong pipeline (+14% QoQ).
- **Balance Sheet**: No plans to divest assets; focus on liquidity management and LCR compliance.

Synovus Financial Corp. (SNV) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SNV

SNV fundamentals

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