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Synovus Financial (Synovus Financial) Effective Interest Rate on Debt % : 71.29% (As of Dec. 2023)


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What is Synovus Financial Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Synovus Financial's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $1,404 Mil. Synovus Financial's average total debt for the quarter that ended in Dec. 2023 was $1,970 Mil. Therefore, Synovus Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 71.29%.


Synovus Financial Effective Interest Rate on Debt % Historical Data

The historical data trend for Synovus Financial's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Synovus Financial Effective Interest Rate on Debt % Chart

Synovus Financial Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 14.64 11.42 10.01 21.14 92.51

Synovus Financial Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 20.90 27.64 25.78 40.76 71.29

Competitive Comparison of Synovus Financial's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Synovus Financial's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Synovus Financial's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Synovus Financial's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Synovus Financial's Effective Interest Rate on Debt % falls into.



Synovus Financial Effective Interest Rate on Debt % Calculation

Synovus Financial's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -1233.703/( (1434.611+1232.534)/ 2 )
=-1  *  -1233.703/1333.5725
=92.51 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=834.597 + 600.014
=1434.611

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1232.534 + 0
=1232.534

Synovus Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2023 )+Total Debt  (Q: Dec. 2023 ))/ count )
=-1  *  -1404.336/( (2707.063+1232.534)/ 2 )
=-1  *  -1404.336/1969.7985
=71.29 %

where

Total Debt  (Q: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2704.701 + 2.362
=2707.063

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1232.534 + 0
=1232.534

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Synovus Financial  (NYSE:SNV) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Synovus Financial Effective Interest Rate on Debt % Related Terms

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Synovus Financial (Synovus Financial) Business Description

Industry
Address
1111 Bay Avenue, Suite 500, Columbus, GA, USA, 31901
Synovus Financial Corp provides commercial and consumer banking in addition to a full suite of specialized products & services such as private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets, & international banking to clients through the wholly-owned subsidiary bank, Synovus Bank, and other offices in Alabama, Florida, Georgia, South Carolina, and Tennessee. It has four segments Wholesale Banking, Community Banking, Consumer Banking, and Financial Management Services, out of which the majority is from the Wholesale banking segment.
Executives
Allan E Kamensky officer: EVP and General Counsel P.O. BOX 120, COLUMBUS GA 31902
Eli Samaha 10 percent owner ONE WORLD TRADE CENTER, FLOOR 65, NEW YORK NY 10007
Shellie Creson officer: EVP and Chief Risk Officer 1111 BAY AVENUE, COLUMBUS GA 31901
John H. Irby director 1111 BAY AVENUE, COLUMBUS GA 31901
Daniel Zachary Bishop officer: EVP, Tech., Ops., & Sec. 1111 BAY AVENUE, COLUMBUS GA 31901
Kevin S. Blair officer: President and CEO 1111 BAY AVENUE, SUITE 500, COLUMBUS GA 31901
Diana M Murphy director C/O LANDSTAR SYSTEM INC, 13410 SUTTON PARK DR S, JACKSONVILLE FL 32224
Stacy Apter director 1111 BAY AVENUE, COLUMBUS GA 31901
Thomas T Dierdorff officer: EVP, Corp. & Inv. Banking 1111 BAY AVENUE, COLUMBUS GA 31901
Alexandra Villoch director 1111 BAY AVENUE, COLUMBUS GA 31901
Prochaska Joseph J Jr director METLIFE, 200 PARK AVENUE, NEW YORK NY 10166
Teresa L White director 1932 WYNNTON RD, COLUMBUS GA 31999
Gregory Andrew J. Jr. officer: EVP & Chief Financial Officer 1111 BAY AVENUE, SUITE 500, COLUMBUS GA 31901
Robert Warren Derrick officer: EVP & Chief Credit Officer 1111 BAY AVENUE, SUITE 500, COLUMBUS GA 31901
Elizabeth D. Wolverton officer: EVP, Head Con. Bank. Brand Exp 1111 BAY AVENUE, SUITE 500, COLUMBUS GA 31901

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