Synovus Financial (Synovus Financial) Credit Losses Provision : $176 Mil (As of Dec. 2023)

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What is Synovus Financial Credit Losses Provision?

Synovus Financial's credit losses provision for the three months ended in Dec. 2023 was $45 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $176 Mil.

Synovus Financial's quarterly credit losses provision increased from Jun. 2023 ($39 Mil) to Sep. 2023 ($73 Mil) but then declined from Sep. 2023 ($73 Mil) to Dec. 2023 ($45 Mil).

Synovus Financial's annual credit losses provision increased from Dec. 2021 ($-106 Mil) to Dec. 2022 ($85 Mil) and increased from Dec. 2022 ($85 Mil) to Dec. 2023 ($176 Mil).

Synovus Financial Credit Losses Provision Historical Data

The historical data trend for Synovus Financial's Credit Losses Provision 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 Credit Losses Provision Chart

Synovus Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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87.72

355.02

-106.25

84.55

175.95

Synovus Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															34.88	19.03	38.88	72.57	45.47

Synovus Financial Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $176 Mil.

Synovus Financial (Synovus Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Synovus Financial Corp (NYSE:SNV) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

SNVpE.PFD:USA SNVpD.PFD:USA SYU1:Germany SYU1:Germany

Address

1111 Bay Avenue, Suite 500, Columbus, GA, USA, 31901

Website

https://www.synovus.com

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