# EDGAR Filing Document

**Accession Number:** 0000018349
**File Stem:** 0000018349-23-000006
**Filing Date:** 2023-1
**Character Count:** 118691
**Document Hash:** 318e3e25fcd26e1487a2f6d6a4c3aea8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000018349-23-000006.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0000018349-23-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 53

**CONFORMED PERIOD OF REPORT**: 20230118

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SYNOVUS FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0000018349
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 581134883
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10312
- **FILM NUMBER:** 23534951

**BUSINESS ADDRESS:**
- **STREET 1:** 1111 BAY AVENUE
- **STREET 2:** STE 500
- **CITY:** COLUMBUS
- **STATE:** GA
- **ZIP:** 31901
- **BUSINESS PHONE:** 7066492311

**MAIL ADDRESS:**
- **STREET 1:** 1111 BAY AVENUE
- **STREET 2:** STE 500
- **CITY:** COLUMBUS
- **STATE:** GA
- **ZIP:** 31901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CB&T BANCSHARES INC
- **DATE OF NAME CHANGE:** 19890912

?xml version="1.0" ? syn-20230118

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

<u>January 18, 2023</u>

Date of Report

(Date of Earliest Event Reported)

<u>Synovus Financial Corp.</u>

(Exact Name of Registrant as Specified in its Charter)

<u>Georgia</u> <u>1-10312</u> <u>58-1134883</u> <br> (State of Incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>1111 Bay Avenue, Suite 500, Columbus, Georgia 31901</u> 

(Address of principal executive offices) (Zip Code)

<u>(706) 641-6500</u> 

(Registrant's telephone number, including area code)

________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

&nbsp;&nbsp;&nbsp;&nbsp;☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, $1.00 Par Value | SNV | &nbsp;&nbsp;New York Stock Exchange |
| Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D | SNV-PrD | &nbsp;&nbsp;New York Stock Exchange |
| Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E | SNV-PrE | &nbsp;&nbsp;New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided

pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| <u>Item 2.02</u> | <u>Results of Operations and Financial Condition</u> |
|  | On January 18, 2023, Synovus Financial Corp. (the "Company") issued a press release announcing the Company's financial results for the three and twelve month periods ended December 31, 2022. |
|  | Pursuant to General Instruction F to Current Report on Form 8-K, the press release is attached to this Current Report as <u>Exhibit 99.1</u> and only those portions of the press release related to the historical results of operations of the Company for the three and twelve month periods ended December 31, 2022 are incorporated into this Item 2.02 by reference. The information contained in this Item 2.02, including the information set forth in the press release filed as <u>Exhibit 99.1</u> to, and incorporated in, this Current Report is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in <u>Exhibit 99.1</u> furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the "Securities Act"), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing. |

---

---

| | |
|:---|:---|
| <u>Item 7.01</u> | <u>Regulation FD Disclosure</u> |
|  | On January 18, 2023, the Company made available the supplemental information (the "Supplemental Information") and slide presentation ("Slide Presentation") prepared for use with the press release. The investor call and webcast will be held at 8:30 a.m., ET, on January 19, 2023. |
|  | The information contained in this Item 7.01 of this Current Report, including the information set forth in the Supplemental Information and the Slide Presentation filed as <u>Exhibit 99.2</u> and <u>Exhibit 99.3</u> to, and incorporated in, this Current Report, is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in <u>Exhibit 99.2</u> and <u>Exhibit 99.3</u> furnished pursuant to this Item 7.01 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing. |

---

---

| | | |
|:---|:---|:---|
| <u>Item 9.01</u> | <u>Financial Statements and Exhibits</u> | <u>Financial Statements and Exhibits</u> |
|  | (d) | Exhibits |
|  | <u>Exhibit No.</u> | <u>Description</u> |
|  | 99.1 | <u>[Synovus press release dated January 1](snv_ex991x12312022newsrele.htm)[8](snv_ex991x12312022newsrele.htm)[, 2023](snv_ex991x12312022newsrele.htm)</u> |
|  | 99.2 | <u>[Supplemental Information prepared for use with the press release](snv_ex992x12312022prtables.htm)</u> |
|  | 99.3 | <u>[Slide presentation prepared for use with the press release](snv_12312022xex993presen.htm)</u> |

---

------

<u>Signature</u>

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Synovus has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| | SYNOVUS FINANCIAL CORP. |
| Date: January 18, 2023 | By: <u>/s/ Allan E. Kamensky</u> |
|  | Name: Allan E. Kamensky |
|  | Title: Executive Vice President and General Counsel |

---

## Exhibit 99.1

Exhibit 99.1

![synovusa06a.jpg](synovusa06a.jpg)

---

| | |
|:---|:---|
| **<u>Media Contact</u>** | **<u>Investor Contact</u>** |
| Audria Belton | Cal Evans |
| Media Relations | Investor Relations |
| media@synovus.com | investorrelations@synovus.com |

---

**Synovus Announces Earnings for the Fourth Quarter 2022**

**Diluted Earnings per Share of $1.35 vs. $1.33 in 3Q22**

**Adjusted Diluted Earnings per Share of $1.35 vs. $1.34 in 3Q22**

**COLUMBUS, Ga.,** Jan. 18, 2023 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter and year ended Dec. 31, 2022. "Our 2022 financial results validated the resiliency of our business model and our team's ability to successfully execute on key strategic growth initiatives while delivering top quartile returns and efficiency," said Kevin Blair, Synovus chairman, CEO and president. "With pre-provision net revenue up 19%, the year was shaped by broad-based growth and stability in our core banking franchise that enabled investments in new sources of growth and enhancements to the client experience. Our commonsense approach to expense, credit, and capital management positions us for continued growth while remaining flexible as economic volatility persists. 2023 is a year of focused execution that will continue to drive profitable growth, enhanced service quality, and deeper client relationships. And as we also navigate uncertain economic terrain, risk profile resiliency, broad-based deposit generation, and strong credit vigilance remain top priorities. We're confident in the strength of our footprint, talent, and ability to execute, which will translate into achieving our stated near-term and long-term financial targets."

**2022 Highlights**

• Net income available to common shareholders for 2022 was $724.7 million, or $4.95 per diluted share, as compared to $727.3 million, or $4.90 per diluted share, for 2021.

• Pre-provision net revenue of $1.05 billion increased $165.6 million, or 19%, largely driven by robust net interest income growth that was fueled by strong loan growth and an overall asset sensitive position given rising interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted pre-provision net revenue excluding Paycheck Protection Program (PPP) revenue of $1.04 billion increased $233.0 million, or 29%.

• Period-end loans increased $4.79 billion, or 12%, excluding PPP loans, with broad-based growth across asset classes led by commercial lines of business.

• Period-end deposits declined $555.7 million, or 1%, impacted by increasing pricing pressures; however, overall deposit costs benefited from prudent pricing strategy and an extended lag on deposit pricing.

• Credit metrics including non-performing loan, non-performing asset, and net charge-off ratios are at or near historically low levels.

• Provision for credit losses of $84.6 million in 2022 compared to a reversal of credit losses of $106.3 million for the prior year. 2022 results reflect a deterioration in the economic outlook for 2023 and 2024 and strong loan growth, while prior year results benefited from an improvement in the economic outlook as the effects of the COVID-19 pandemic began to subside.

• Preliminary year-end CET1 ratio of 9.63% increased to upper half of target operating range of 9.25% to 9.75%.

• Continued progress on key strategic initiatives as pre-tax run rate benefit of $175 million Synovus Forward initiative was achieved.

**Fourth Quarter 2022 Highlights**

• Net income available to common shareholders was $197.5 million, or $1.35 per diluted share, up $0.02 sequentially and up $0.04 compared to the fourth quarter 2021.

------

• Total revenue of $603.8 million increased $21.6 million, or 4%, sequentially and was up $94.4 million, or 19%, compared to the fourth quarter 2021.

• Pre-provision net revenue of $294.8 million increased $6.6 million, or 2%, sequentially and was up $80.6 million, or 38%, compared to the fourth quarter 2021.

**•** Period-end loans increased $1.14 billion, or 3%, representing a growth rate of 11% annualized, our sixth consecutive quarter of annualized double-digit loan growth.

• Period-end deposits grew $1.17 billion, or 2%, sequentially.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Core deposits increased $372.8 million, or 1%, sequentially.

• Credit quality metrics remained stable from the previous quarter and included a quarter-end non-performing loan ratio of 0.29%, non-performing asset ratio of 0.33%, and a quarterly net charge-off ratio of 0.12%.

• Preliminary CET1 ratio of 9.63% grew 11 bps sequentially as capital generation continued to support client loan growth.

**Fourth Quarter 2022 Summary**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Reported** | **Reported** | **Reported** | **Adjusted** | **Adjusted** | **Adjusted** |
| *(dollars in thousands)* | **4Q22** | **3Q22** | **4Q21** | **4Q22** | **3Q22** | **4Q21** |
| Net income available to common shareholders | $197479 | $194753 | $192110 | $197576 | $195481 | $198373 |
| Diluted earnings per share | 1.35 | 1.33 | 1.31 | 1.35 | 1.34 | 1.35 |
| Total revenue | 603785 | 582217 | 509381 | N/A | N/A | N/A |
| Total loans | 43716353 | 42571458 | 39311958 | N/A | N/A | N/A |
| Total deposits | 48871559 | 47697564 | 49427276 | N/A | N/A | N/A |
| Return on avg assets | 1.38% | 1.39% | 1.40% | 1.39% | 1.39% | 1.44% |
| Return on avg common equity | 20.93 | 18.66 | 16.11 | 20.94 | 18.73 | 16.64 |
| Return on avg tangible common equity | 24.21 | 21.29 | 18.14 | 24.22 | 21.37 | 18.72 |
| Net interest margin | 3.60 | 3.49 | 2.96 | N/A | N/A | N/A |
| Efficiency ratio-TE<sup>(1)(2)</sup> | 51.08 | 50.41 | 57.85 | 50.58 | 49.98 | 55.64 |
| NCO ratio-QTD | 0.12 | 0.04 | 0.11 | N/A | N/A | N/A |
| NPA ratio | 0.33 | 0.32 | 0.40 | N/A | N/A | N/A |

---

<sup>(1)</sup> Taxable equivalent<sup>&nbsp;&nbsp;&nbsp;&nbsp;</sup>

<sup>(2)</sup> Adjusted tangible efficiency ratio<sup>&nbsp;&nbsp;&nbsp;&nbsp;</sup>

**Balance Sheet**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loans**<sup>\*</sup> | **Loans**<sup>\*</sup> | **Loans**<sup>\*</sup> | | | | | |
| *(dollars in millions)* | **4Q22** | **3Q22** | **Linked Quarter Change** | **Linked Quarter % Change** | **4Q21** | **Year/Year Change** | **Year/Year % Change** |
| Commercial & industrial\*\* | $22066.7 | $21212.5 | $854.1 | 4% | $19622.9 | $2443.7 | 12% |
| Commercial real estate | 12650.3 | 12288.0 | 362.3 | 3 | 11015.1 | 1635.2 | 15 |
| Consumer | 8999.4 | 9071.0 | (71.6) | (1) | 8673.9 | 325.5 | 4 |
| Total loans | $43716.4 | $42571.5 | $1144.9 | 3% | $39311.9 | $4404.4 | 11% |

---

<sup>\*&nbsp;&nbsp;&nbsp;&nbsp;</sup>Amounts may not total due to rounding

<sup>\*\*&nbsp;&nbsp;&nbsp;&nbsp;</sup>Includes PPP balances of $14.7 million, $42.8 million, and $399.6 million at 4Q22, 3Q22, and 4Q21, respectively.

• Total loans ended the quarter at $43.72 billion, up $1.14 billion sequentially, or 11% annualized, led by continued diversified growth from commercial lines of business across multiple industries and segments.

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Deposits**<sup>\*</sup> | **Deposits**<sup>\*</sup> | **Deposits**<sup>\*</sup> | **Deposits**<sup>\*</sup> | | | | |
| *(dollars in millions)* | **4Q22** | **3Q22** | **Linked Quarter Change** | **Linked Quarter % Change** | **4Q21** | **Year/Year Change** | **Year/Year % Change** |
| Non-interest-bearing DDA | $14574.5 | $15373.7 | $(799.3) | (5)% | $15242.8 | $(668.4) | (4)% |
| Interest-bearing DDA | 5761.4 | 5776.8 | (15.4) |  | 6347.0 | (585.6) | (9) |
| Money market | 12480.7 | 12918.6 | (437.9) | (3) | 14886.4 | (2405.7) | (16) |
| Savings | 1396.4 | 1470.1 | (73.7) | (5) | 1404.4 | (8.0) | (1) |
| Public funds | 6635.6 | 5549.7 | 1085.9 | 20 | 6284.6 | 351.0 | 6 |
| Time deposits | 2724.1 | 2110.9 | 613.1 | 29 | 2427.1 | 297.0 | 12 |
| Brokered deposits | 5299.0 | 4497.8 | 801.2 | 18 | 2835.0 | 2464.0 | 87 |
| Total deposits | $48871.6 | $47697.6 | $1174.0 | 2% | $49427.3 | $(555.7) | (1)% |

---

<sup>\*&nbsp;&nbsp;&nbsp;&nbsp;</sup>Amounts may not total due to rounding

• Total deposits ended the quarter at $48.87 billion, an increase of $1.17 billion, or 2%, sequentially as focus on new deposit production and seasonal benefit from public funds drove growth.

• Total deposit costs increased 50 bps from the third quarter 2022 to 88 bps.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Total deposit beta cycle to date through the fourth quarter 2022 of 21% reflects disciplined pricing strategy and benefit from lag in deposit repricing.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Income Statement Summary**<sup>\*</sup> | **Income Statement Summary**<sup>\*</sup> | **Income Statement Summary**<sup>\*</sup> | **Income Statement Summary**<sup>\*</sup> | | | | |
| *(in thousands, except per share data)* | **4Q22** | **3Q22** | **Linked Quarter Change** | **Linked Quarter % Change** | **4Q21** | **Year/Year Change** | **Year/Year % Change** |
| Net interest income | $501346 | $477919 | $23427 | 5% | $392313 | $109033 | 28% |
| Non-interest revenue | 102439 | 104298 | (1859) | (2) | 117068 | (14629) | (12) |
| Non-interest expense | 308996 | 294010 | 14986 | 5 | 295207 | 13789 | 5 |
| Provision for (reversal of) credit losses | 34884 | 25581 | 9303 | 36 | (55210) | 90094 | nm |
| Income before taxes | $259905 | $262626 | $(2721) | (1)% | $269384 | $(9479) | (4)% |
| Income tax expense | 54135 | 59582 | (5447) | (9) | 68983 | (14848) | (22) |
| Preferred stock dividends | 8291 | 8291 |  |  | 8291 |  |  |
| Net income available to common shareholders | $197479 | $194753 | $2726 | 1% | $192110 | $5369 | 3% |
| Weighted average common shares outstanding, diluted | 146528 | 146418 | 110 |  | 146793 | (265) |  |
| Diluted earnings per share | $1.35 | $1.33 | $0.02 | 2% | $1.31 | $0.04 | 3% |
| Adjusted diluted earnings per share | $1.35 | $1.34 | $0.01 | 1% | $1.35 | $— | —% |
| Effective tax rate | 20.83% | 22.69% |  |  | 25.61% |  |  |

---

<sup>\*&nbsp;&nbsp;&nbsp;&nbsp;</sup>Amounts may not total due to rounding

------

**Core Performance**

• Net interest income increased $23.4 million, or 5%, compared to the prior quarter and was up $109.0 million, or 28%, compared to the fourth quarter 2021, driven by loan growth, interest rate increases, and disciplined deposit pricing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Net interest margin was 3.60%, up 11 bps from the previous quarter.

• Non-interest revenue of $102.4 million decreased $1.9 million, or 2%, sequentially and declined $14.6 million, or 12%, compared to the fourth quarter 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Unfavorable valuation adjustments totaling $5.0 million for two tax equity investment partnerships and continued lower mortgage banking income from a challenging environment were somewhat offset by growth in wealth revenue and card fees.

• Non-interest expense increased $15.0 million, or 5%, sequentially and was up $13.8 million, or 5%, compared to the fourth quarter 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Increases were primarily driven by a combination of performance-related costs which align with financial performance, investments in new business initiatives, and infrastructure spend.

• Credit quality ratios remain historically strong. The non-performing loan and asset ratios were stable at 0.29% and 0.33%, respectively; the net charge-off ratio for the quarter was 0.12%, in line with recent levels; and total past dues were 0.15% of total loans outstanding.

• Provision for credit losses of $34.9 million increased $9.3 million sequentially and compares to a reversal of credit losses for the fourth quarter 2021 of $55.2 million. The increases were impacted by uncertain economic conditions, loan growth, and the cessation of a third-party lending relationship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The allowance for credit losses coverage ratio (to loans) of 1.15% was up 2 bps sequentially and down 4 bps compared to the prior year and reflects the positive performance in the loan portfolio offset by a negative bias influencing future economic scenario metrics.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital Ratios** | **Capital Ratios** | **Capital Ratios** | **Capital Ratios** | |
| | **4Q22** | | **3Q22** |<br>**4Q21** |
| &nbsp;&nbsp;&nbsp;Common equity Tier 1 capital (CET1) ratio | 9.63% | \* | 9.52% | 9.50% |
| &nbsp;&nbsp;&nbsp;Tier 1 capital ratio | 10.68 | \* | 10.59 | 10.66 |
| &nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 12.54 | \* | 12.45 | 12.61 |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 9.07 | \* | 9.04 | 8.72 |
| &nbsp;&nbsp;&nbsp;Tangible common equity ratio | 5.84 |  | 5.52 | 7.52 |

---

<sup>\*&nbsp;&nbsp;&nbsp;&nbsp;</sup>Ratios are preliminary

**Capital**

• Preliminary CET1 ratio improved 11 bps sequentially to 9.63%, and the preliminary total risk-based capital ratio of 12.54% increased 9 bps from the prior quarter as capital generated from earnings supported continued strong loan growth.

**Fourth Quarter 2022 Earnings Conference Call**

Synovus will host an earnings highlights conference call at 8:30 a.m. ET on Jan. 19, 2023. The earnings call will be accompanied by a slide presentation. Shareholders and other interested parties may listen to this conference call via simultaneous internet broadcast. For a link to the webcast, go to <u>investor.synovus.com/event</u>. The replay will be archived for 12 months and will be available 30-45 minutes after the call.

**Synovus Financial Corp**. is a financial services company based in Columbus, Georgia, with approximately $60 billion in assets. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has 246

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branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus is a <u>Great Place to Work-Certified Company</u> and is on the web at <u>synovus.com</u> and on <u>Twitter</u>, <u>Facebook</u>, <u>LinkedIn</u>, and <u>Instagram</u>.

**Forward-Looking Statements**

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus' use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "should," "predicts," "could," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Synovus' future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our intended strategies, initiatives, and other operational and execution goals; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus' management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus' ability to control or predict.

These forward-looking statements are based upon information presently known to Synovus' management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021, under the captions "Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors" and in Synovus' quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

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**Non-GAAP Financial Measures**

The measures entitled adjusted tangible efficiency ratio; adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; tangible common equity ratio; and adjusted pre-provision net revenue (PPNR) excluding PPP revenue are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are efficiency ratio-TE; net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and PPNR, respectively.

Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus' operating results, financial strength, the performance of its business, and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted tangible efficiency ratio is a measure utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. Adjusted net income available to common shareholders, adjusted diluted earnings per share, adjusted return on average assets, and adjusted return on average common equity are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus' performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. The tangible common equity ratio is used by management to assess the strength of our capital position. Adjusted PPNR ex. PPP revenue is used by management to evaluate pre-provision net revenue exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons including PPP revenue. The computations of these measures are set forth in the tables below.

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| | | | |
|:---|:---|:---|:---|
| **Reconciliation of Non-GAAP Financial Measures** | **Reconciliation of Non-GAAP Financial Measures** | | |
| *(dollars in thousands)* | **4Q22** | **3Q22** | **4Q21** |
| **Adjusted tangible efficiency ratio** |  |  |  |
| Total non-interest expense | $308996 | $294010 | $295207 |
| Subtract/add: Restructuring charges | 2372 | (956) | (5958) |
| Subtract: Valuation adjustment to Visa derivative | (2500) |  | (2656) |
| Subtract/add: Fair value adjustment on non-qualified deferred compensation | (1557) | 1076 | (995) |
| &nbsp;&nbsp;Adjusted non-interest expense | $307311 | $294130 | $285598 |
| Subtract: Amortization of intangibles | (2118) | (2118) | (2379) |
| &nbsp;&nbsp;Adjusted tangible non-interest expense | $305193 | $292012 | $283219 |
| Net interest income | $501346 | $477919 | $392313 |
| Add: Taxable equivalent adjustment | 1131 | 972 | 884 |
| Add: Total non-interest revenue | 102439 | 104298 | 117068 |
| Total TE revenue | 604916 | 583189 | 510265 |
| Subtract/add: Investment securities (gains) losses, net |  |  | (230) |
| Subtract/add: Fair value adjustment on non-qualified deferred compensation | (1557) | 1076 | (995) |
| &nbsp;&nbsp;Adjusted revenue | $603359 | $584265 | $509040 |
| Efficiency ratio-TE | 51.08% | 50.41% | 57.85% |
| &nbsp;&nbsp;Adjusted tangible efficiency ratio | 50.58 | 49.98 | 55.64 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Reconciliation of Non-GAAP Financial Measures, continued** | | | |
| *(in thousands, except per share data)* | **4Q22** | **3Q22** | **4Q21** |
| **Adjusted return on average assets** |  |  |  |
| Net income | $205770 | $203044 | $200401 |
| Add/subtract: Restructuring charges | (2372) | 956 | 5958 |
| Add: Valuation adjustment to Visa derivative | 2500 |  | 2656 |
| Subtract/add: Investment securities (gains) losses, net |  |  | (230) |
| Subtract/add: Tax effect of adjustments<sup>(1)</sup> | (31) | (228) | (2121) |
| Adjusted net income | $205867 | $203772 | $206664 |
| Net income annualized | $816370 | $805555 | $795069 |
| Adjusted net income annualized | $816755 | $808443 | $819917 |
| Total average assets | $58963417 | $58055979 | $56911929 |
| Return on average assets | 1.38% | 1.39% | 1.40% |
| &nbsp;&nbsp;&nbsp;Adjusted return on average assets | 1.39 | 1.39 | 1.44 |
| **Adjusted net income available to common shareholders and adjusted net income per common share, diluted** |  |  |  |
| Net income available to common shareholders | $197479 | $194753 | $192110 |
| Add/subtract: Restructuring charges | (2372) | 956 | 5958 |
| Add: Valuation adjustment to Visa derivative | 2500 |  | 2656 |
| Subtract/add: Investment securities (gains) losses, net |  |  | (230) |
| Subtract/add: Tax effect of adjustments<sup>(1)</sup> | (31) | (228) | (2121) |
| Adjusted net income available to common shareholders | $197576 | $195481 | $198373 |
| Weighted average common shares outstanding, diluted | 146528 | 146418 | 146793 |
| Net income per common share, diluted | $1.35 | $1.33 | $1.31 |
| &nbsp;&nbsp;&nbsp;Adjusted net income per common share, diluted | 1.35 | 1.34 | 1.35 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Reconciliation of Non-GAAP Financial Measures, continued** | | | |
| *(dollars in thousands)* | **4Q22** | **3Q22** | **4Q21** |
| **Adjusted return on average common equity, return on average tangible common equity, and adjusted return on average tangible common equity** |  |  |  |
| Net income available to common shareholders | $197479 | $194753 | $192110 |
| Add/subtract: Restructuring charges | (2372) | 956 | 5958 |
| Add: Valuation adjustment to Visa derivative | 2500 |  | 2656 |
| Subtract/add: Investment securities (gains) losses, net |  |  | (230) |
| Subtract/add: Tax effect of adjustments<sup>(1)</sup> | (31) | (228) | (2121) |
| Adjusted net income available to common shareholders | $197576 | $195481 | $198373 |
| Adjusted net income available to common shareholders annualized | $783861 | $775550 | $787023 |
| Add: Amortization of intangibles, tax effected, annualized | 6358 | 6401 | 7050 |
| Adjusted net income available to common shareholders excluding amortization of intangibles annualized | $790219 | $781951 | $794073 |
| Net income available to common shareholders annualized | $783476 | $772661 | $762176 |
| Add: Amortization of intangibles, tax effected, annualized | 6358 | 6401 | 7050 |
| Net income available to common shareholders excluding amortization of intangibles annualized | $789834 | $779062 | $769226 |
| Total average shareholders' equity less preferred stock | $3742927 | $4141516 | $4730828 |
| Subtract: Goodwill | (452390) | (452390) | (452390) |
| Subtract: Other intangible assets, net | (28174) | (30214) | (36805) |
| Total average tangible shareholders' equity less preferred stock | $3262363 | $3658912 | $4241633 |
| Return on average common equity | 20.93% | 18.66% | 16.11% |
| &nbsp;&nbsp;&nbsp;Adjusted return on average common equity | 20.94 | 18.73 | 16.64 |
| &nbsp;&nbsp;&nbsp;Return on average tangible common equity | 24.21 | 21.29 | 18.14 |
| &nbsp;&nbsp;&nbsp;Adjusted return on average tangible common equity | 24.22 | 21.37 | 18.72 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Reconciliation of Non-GAAP Financial Measures, continued** | | | |
| | **December 31,** | **September 30,** | **December 31,** |
| *(dollars in thousands)* | **2022** | **2022** | **2021** |
| **Tangible common equity ratio** |  |  |  |
| Total assets | $59731378 | $58639522 | $57317226 |
| Subtract: Goodwill | (452390) | (452390) | (452390) |
| Subtract: Other intangible assets, net | (27124) | (29242) | (35596) |
| Tangible assets | $59251864 | $58157890 | $56829240 |
| Total shareholders' equity | $4475801 | $4229715 | $5296800 |
| Subtract: Goodwill | (452390) | (452390) | (452390) |
| Subtract: Other intangible assets, net | (27124) | (29242) | (35596) |
| Subtract: Preferred stock, no par value | (537145) | (537145) | (537145) |
| Tangible common equity | $3459142 | $3210938 | $4271669 |
| Total shareholders' equity to total assets ratio | 7.49% | 7.21% | 9.24% |
| Tangible common equity ratio | 5.84 | 5.52 | 7.52 |
| <sup>(1)</sup> An assumed marginal tax rate of 24.3% for 4Q22, 23.8% for 3Q22, and 25.3% for 4Q21 was applied. |  |  |  |

---

------

---

| | | |
|:---|:---|:---|
| **Reconciliation of Non-GAAP Financial Measures, continued** | **Reconciliation of Non-GAAP Financial Measures, continued** | |
| *(dollars in thousands)* | **2022** | **2021** |
| **Adjusted pre-provision net revenue (PPNR) ex. PPP revenue** |  |  |
| Net interest income | $1796900 | $1532947 |
| Add: Total non-interest revenue | 409336 | 450066 |
| Subtract: Total non-interest expense | (1157506) | (1099904) |
| Pre-provision net revenue | $1048730 | $883109 |
| Net interest income | $1796900 | $1532947 |
| Add: Taxable equivalent adjustment | 3927 | 3185 |
| TE net interest income | 1800827 | 1536132 |
| Add: Total non-interest revenue | $409336 | $450066 |
| Total TE revenue | 2210163 | 1986198 |
| Subtract/add: Investment securities (gains) losses, net |  | 799 |
| Subtract/add: Fair value adjustment on non-qualified deferred compensation | 4054 | (2816) |
| Adjusted revenue | $2214217 | $1984181 |
| Subtract: PPP revenue | (13866) | (94733) |
| Adjusted revenue ex. PPP revenue | $2200351 | $1889448 |
| Total non-interest expense | $1157506 | $1099904 |
| Subtract: Earnout liability adjustments |  | (507) |
| Subtract: Loss on early extinguishment of debt | (677) |  |
| Subtract/add: Restructuring charges | 9690 | (7223) |
| Subtract: Valuation adjustment to Visa derivative | (6000) | (2656) |
| Subtract/add: Fair value adjustment on non-qualified deferred compensation | 4054 | (2816) |
| Adjusted non-interest expense | $1164573 | $1086702 |
| Adjusted revenue ex. PPP revenue | $2200351 | $1889448 |
| Subtract: Adjusted non-interest expense | (1164573) | (1086702) |
| Adjusted PPNR ex. PPP revenue | $1035778 | $802746 |

---

## Exhibit 99.2

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Synovus** |  |  | Exhibit 99.2 | Exhibit 99.2 |
| **INCOME STATEMENT DATA** |  |  |  |  |
| **(Unaudited)** | **Years Ended** | **Years Ended** | **Years Ended** | **Years Ended** |
| (Dollars in thousands, except per share data) | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2022** | **2021** | **% Change** | **% Change** |
| Interest income | $**2075787** | $1653343 | 26 | % |
| Interest expense | **278887** | 120396 | 132 |  |
| Net interest income | **1796900** | 1532947 | 17 |  |
| Provision for (reversal of) credit losses | **84553** | (106251) | nm | nm |
| Net interest income after provision for credit losses | **1712347** | 1639198 | 4 |  |
| Non-interest revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges on deposit accounts | **93067** | 86310 | 8 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fiduciary and asset management fees | **78414** | 77147 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Card fees | **61833** | 51399 | 20 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokerage revenue | **67034** | 56439 | 19 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | **17476** | 54371 | (68) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital markets income | **26702** | 26118 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from bank-owned life insurance | **29720** | 38019 | (22) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities gains (losses), net | **—** | (799) | nm | nm |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-interest revenue | **35090** | 61062 | (43) |  |
| Total non-interest revenue | **409336** | 450066 | (9) |  |
| Non-interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and other personnel expense | **681710** | 649426 | 5 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net occupancy, equipment, and software expense | **174730** | 169222 | 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Third-party processing and other services | **88617** | 86688 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional fees | **37189** | 32785 | 13 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FDIC insurance and other regulatory fees | **29083** | 22355 | 30 |  |
| &nbsp;&nbsp;&nbsp;Restructuring charges | **(9690)** | 7223 | (234) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating expenses | **155867** | 132205 | 18 |  |
| Total non-interest expense | **1157506** | 1099904 | 5 |  |
| &nbsp;&nbsp;&nbsp;Income before income taxes | **964177** | 989360 | (3) |  |
| &nbsp;&nbsp;&nbsp;Income tax expense | **206275** | 228893 | (10) |  |
| &nbsp;&nbsp;&nbsp;Net income | **757902** | 760467 |  |  |
| &nbsp;&nbsp;&nbsp;Less: Preferred stock dividends | **33163** | 33163 |  |  |
| &nbsp;&nbsp;&nbsp;Net income available to common shareholders | $**724739** | $727304 |  | % |
| &nbsp;&nbsp;&nbsp;Net income per common share, basic | **4.99** | 4.95 | 1 | % |
| &nbsp;&nbsp;&nbsp;Net income per common share, diluted | **4.95** | 4.90 | 1 |  |
| &nbsp;&nbsp;&nbsp;Cash dividends declared per common share | **1.36** | 1.32 | 3 |  |
| &nbsp;&nbsp;&nbsp;Return on average assets | **1.32%** | 1.37% | (5) | bps |
| &nbsp;&nbsp;&nbsp;Return on average common equity | **17.41** | 15.56 | 185 |  |
| &nbsp;&nbsp;&nbsp;Weighted average common shares outstanding, basic | **145364** | 147041 | (1) | % |
| &nbsp;&nbsp;&nbsp;Weighted average common shares outstanding, diluted | **146481** | 148495 | (1) |  |
| &nbsp;&nbsp;&nbsp; nm - not meaningful |  |  |  |  |
| &nbsp;&nbsp;&nbsp; bps - basis points |  |  |  |  |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Synovus** | | | | | | | |
| **INCOME STATEMENT DATA** | | | | | | | |
| **(Unaudited)** | | | | | | | |
| (Dollars in thousands, except per share data) | **2022** | **2022** | **2022** | **2022** | **2021** | **Fourth Quarter** | **Fourth Quarter** |
|  | **Fourth Quarter** | **Third Quarter** | **Second Quarter** | **First Quarter** | **Fourth Quarter** | **'22 vs '21** | **'22 vs '21** |
|  | **Fourth Quarter** | **Third Quarter** | **Second Quarter** | **First Quarter** | **Fourth Quarter** | **% Change** | **% Change** |
| Interest income | $**654654** | 551299 | 453772 | 416062 | 418279 | 57 | % |
| Interest expense | **153308** | 73380 | 28384 | 23814 | 25966 | 490 |  |
| Net interest income | **501346** | 477919 | 425388 | 392248 | 392313 | 28 |  |
| Provision for (reversal of) credit losses | **34884** | 25581 | 12688 | 11400 | (55210) | nm | nm |
| Net interest income after provision for credit losses | **466462** | 452338 | 412700 | 380848 | 447523 | 4 |  |
| Non-interest revenue: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | **23639** | 23398 | 23491 | 22539 | 22221 | 6 |  |
| &nbsp;&nbsp;&nbsp;Fiduciary and asset management fees | **18836** | 19201 | 20100 | 20277 | 20602 | (9) |  |
| &nbsp;&nbsp;&nbsp;Card fees | **15887** | 15101 | 16089 | 14756 | 12861 | 24 |  |
| &nbsp;&nbsp;&nbsp;Brokerage revenue | **19996** | 17140 | 15243 | 14655 | 14795 | 35 |  |
| &nbsp;&nbsp;&nbsp;Mortgage banking income | **2554** | 5065 | 3904 | 5953 | 7059 | (64) |  |
| &nbsp;&nbsp;&nbsp;Capital markets income | **6998** | 6839 | 7393 | 5472 | 7188 | (3) |  |
| &nbsp;&nbsp;&nbsp;Income from bank-owned life insurance | **7206** | 6792 | 9165 | 6556 | 15168 | (52) |  |
| &nbsp;&nbsp;&nbsp;Investment securities gains (losses), net | **—** |  |  |  | 230 | nm | nm |
| &nbsp;&nbsp;&nbsp;Other non-interest revenue | **7323** | 10762 | 1881 | 15126 | 16944 | (57) |  |
| Total non-interest revenue | **102439** | 104298 | 97266 | 105334 | 117068 | (12) |  |
| Non-interest expense: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and other personnel expense | **182629** | 173334 | 161063 | 164684 | 167018 | 9 |  |
| &nbsp;&nbsp;&nbsp;Net occupancy, equipment, and software expense | **45192** | 43462 | 43199 | 42877 | 42780 | 6 |  |
| &nbsp;&nbsp;&nbsp;Third-party processing and other services | **23130** | 22539 | 21952 | 20996 | 22791 | 1 |  |
| &nbsp;&nbsp;&nbsp;Professional fees | **11096** | 6755 | 10865 | 8474 | 9014 | 23 |  |
| &nbsp;&nbsp;&nbsp;FDIC insurance and other regulatory fees | **8232** | 7707 | 6894 | 6250 | 6016 | 37 |  |
| &nbsp;&nbsp;&nbsp;Restructuring charges | **(2372)** | 956 | (1850) | (6424) | 5958 | (140) |  |
| &nbsp;&nbsp;&nbsp;Other operating expenses | **41089** | 39257 | 39928 | 35593 | 41630 | (1) |  |
| Total non-interest expense | **308996** | 294010 | 282051 | 272450 | 295207 | 5 |  |
| Income before income taxes | **259905** | 262626 | 227915 | 213732 | 269384 | (4) |  |
| Income tax expense | **54135** | 59582 | 49863 | 42695 | 68983 | (22) |  |
| Net income | **205770** | 203044 | 178052 | 171037 | 200401 | 3 |  |
| Less: Preferred stock dividends | **8291** | 8291 | 8291 | 8291 | 8291 |  |  |
| Net income available to common shareholders | $**197479** | 194753 | 169761 | 162746 | 192110 | 3 |  |
| Net income per common share, basic | $**1.36** | 1.34 | 1.17 | 1.12 | 1.32 | 3 | % |
| Net income per common share, diluted | **1.35** | 1.33 | 1.16 | 1.11 | 1.31 | 3 |  |
| Cash dividends declared per common share | **0.34** | 0.34 | 0.34 | 0.34 | 0.33 | 3 |  |
| Return on average assets \* | **1.38%** | 1.39 | 1.26 | 1.22 | 1.40 | (2) | bps |
| Return on average common equity \* | **20.93** | 18.66 | 16.48 | 14.20 | 16.11 | 482 |  |
| Weighted average common shares outstanding, basic | **145467** | 145386 | 145328 | 145273 | 145316 |  | % |
| Weighted average common shares outstanding, diluted | **146528** | 146418 | 146315 | 146665 | 146793 |  |  |
| nm - not meaningful |  |  |  |  |  |  |  |
| bps - basis points |  |  |  |  |  |  |  |
| \* - ratios are annualized |  |  |  |  |  |  |  |

---

------

`

---

| | | | |
|:---|:---|:---|:---|
| **Synovus** | | | |
| **BALANCE SHEET DATA** | **December 31, 2022** | **September 30, 2022** | **December 31, 2021** |
| **(Unaudited)** | | | |
| (In thousands, except share data) |  |  |  |
| ASSETS |  |  |  |
| Cash and due from banks | $**624097** | $516163 | $432925 |
| Interest-bearing funds with Federal Reserve Bank | **1280684** | 1260748 | 2479006 |
| Interest earning deposits with banks | **34632** | 32445 | 25535 |
| Federal funds sold and securities purchased under resale agreements | **38367** | 58448 | 72387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **1977780** | 1867804 | 3009853 |
| Investment securities available for sale, at fair value | **9678103** | 9587508 | 10918329 |
| Loans held for sale ($51,136, $56,517, and $108,198 measured at fair value,<br>respectively) | **391502** | 696450 | 750642 |
| Loans, net of deferred fees and costs | **43716353** | 42571458 | 39311958 |
| Allowance for loan losses | **(443424)** | (421359) | (427597) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | **43272929** | 42150099 | 38884361 |
| Cash surrender value of bank-owned life insurance | **1089280** | 1084060 | 1068616 |
| Premises, equipment, and software, net | **370632** | 376823 | 407241 |
| Goodwill | **452390** | 452390 | 452390 |
| Other intangible assets, net | **27124** | 29242 | 35596 |
| Other assets | **2471638** | 2395146 | 1790198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**59731378** | $58639522 | $57317226 |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |
| Liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits | $**15639899** | $16359551 | $16392653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | **33231660** | 31338013 | 33034623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | **48871559** | 47697564 | 49427276 |
| Federal funds purchased and securities sold under repurchase agreements | **146588** | 240210 | 264133 |
| Other short-term borrowings | **603384** | 614232 | 200 |
| Long-term debt | **4109597** | 4434327 | 1204229 |
| Other liabilities | **1524449** | 1423474 | 1124588 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **55255577** | 54409807 | 52020426 |
| Shareholders' equity: |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock – no par value. Authorized 100,000,000 shares; issued 22,000,000 | **537145** | 537145 | 537145 |
| &nbsp;&nbsp;&nbsp;Common stock – $1.00 par value. Authorized 342,857,143 shares; issued 170,141,492, 170,097,791, and 169,383,758; outstanding 145,486,634, 145,442,933, and 145,010,086 | **170141** | 170098 | 169384 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | **3920346** | 3916729 | 3894109 |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost – 24,654,858, 24,654,858, and 24,373,672 shares | **(944484)** | (944484) | (931497) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss), net | **(1442117)** | (1534314) | (82321) |
| &nbsp;&nbsp;&nbsp;Retained earnings | **2234770** | 2084541 | 1709980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | **4475801** | 4229715 | 5296800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $**59731378** | $58639522 | $57317226 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Synovus** | **Synovus** | | | | | |
| **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** |
| **(Unaudited)** | | | | | | |
|  | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** |
| *(dollars in thousands)* | **Average Balance** | **Interest** | **Yield/<br> Rate** | **Average Balance** | **Interest** | **Yield/<br> Rate** |
| **Assets** |  |  |  |  |  |  |
| Interest earning assets: |  |  |  |  |  |  |
| Commercial loans <sup>(1) (2) (3)</sup> | $**32402218** | $**1448463** | **4.47%** | $29630598 | $1150835 | 3.88% |
| Consumer loans <sup>(1) (2)</sup> | **8823424** | **361524** | **4.10** | 8520247 | 334917 | 3.93 |
| Less: Allowance for loan losses | **(421506)** | **—** | **—** | (537324) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | **40804136** | **1809987** | **4.44** | 37613521 | 1485752 | 3.95 |
| Investment securities available for sale | **11208886** | **209951** | **1.87** | 9603343 | 140077 | 1.46 |
| Trading account assets | **13374** | **261** | **1.95** | 5613 | 87 | 1.55 |
| Other earning assets<sup>(4)</sup> | **1220653** | **18756** | **1.52** | 3002110 | 3912 | 0.13 |
| FHLB and Federal Reserve Bank stock&nbsp;&nbsp;&nbsp;&nbsp; | **214289** | **6722** | **3.14** | 159176 | 2891 | 1.82 |
| Mortgage loans held for sale | **75325** | **3353** | **4.45** | 203840 | 5935 | 2.91 |
| Other loans held for sale | **682961** | **30684** | **4.43** | 580162 | 17874 | 3.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | **54219624** | $**2079714** | **3.84%** | 51167765 | $1656528 | 3.24% |
| Cash and due from banks | **574250** |  |  | 561170 |  |  |
| Premises and equipment | **385622** |  |  | 445333 |  |  |
| Other real estate | **6356** |  |  | 1522 |  |  |
| Cash surrender value of bank-owned life insurance | **1078653** |  |  | 1058966 |  |  |
| Other assets<sup>(5)</sup>&nbsp;&nbsp;&nbsp;&nbsp; | **1345568** |  |  | 2133725 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**57610073** |  |  | $55368481 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| Interest-bearing demand deposits&nbsp;&nbsp;&nbsp;&nbsp; | $**9027636** | $**25912** | **0.29%** | $8701078 | $9844 | 0.11% |
| Money market accounts | **15385765** | **79567** | **0.52** | 15607034 | 27556 | 0.18 |
| Savings deposits | **1481372** | **399** | **0.03** | 1335269 | 229 | 0.02 |
| Time deposits | **2667101** | **13902** | **0.52** | 3630401 | 18107 | 0.50 |
| Brokered deposits | **3644957** | **67452** | **1.85** | 3028797 | 19183 | 0.63 |
| Federal funds purchased and securities sold under repurchase agreements&nbsp;&nbsp;&nbsp;&nbsp; | **205753** | **1308** | **0.63** | 210949 | 128 | 0.06 |
| Other short-term borrowings | **466254** | **10945** | **2.32** | 8 |  |  |
| Long-term debt | **1999595** | **79402** | **3.95** | 1203282 | 45349 | 3.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **34878433** | $**278887** | **0.78%** | 33716818 | $120396 | 0.35% |
| Non-interest-bearing demand deposits | **16731967** |  |  | 15304120 |  |  |
| Other liabilities | **1298972** |  |  | 1135565 |  |  |
| Shareholders' equity | **4700701** |  |  | 5211978 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $**57610073** |  |  | $55368481 |  |  |
| Net interest income, taxable equivalent net interest margin <sup>(6)</sup> |  | $**1800827** | **3.34%** |  | $1536132 | 3.01% |
| Less: taxable-equivalent adjustment |  | **3927** |  |  | 3185 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income |  | $**1796900** |  |  | $1532947 |  |

---

<sup>(1)</sup> Average loans are shown net of deferred fees and costs. NPLs are included.

<sup>(2)</sup> Interest income includes net loan fees as follows: 2022 — $57.3 million and 2021 — $115.5 million.

<sup>(3)</sup> Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans and investment securities to a taxable-equivalent basis.

<sup>(4)</sup> Includes interest-bearing funds with Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements.

<sup>(5)</sup> Includes average net unrealized gains/(losses) on investment securities available for sale of $(985.6) million and $46.0 million for the years ended December 31, 2022 and 2021, respectively.

<sup>(6)</sup> The net interest margin is calculated by dividing net interest income-taxable equivalent by average total interest earning assets.

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Synovus** | **Synovus** | | | | | | | | |
| **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** | **AVERAGE BALANCES, INTEREST, AND YIELDS/RATES** |
| **(Unaudited)** | | | | | | | | | |
| | **Fourth Quarter 2022** | **Fourth Quarter 2022** | **Fourth Quarter 2022** | **Third Quarter 2022** | **Third Quarter 2022** | **Third Quarter 2022** | **Fourth Quarter 2021** | **Fourth Quarter 2021** | **Fourth Quarter 2021** |
| *(dollars in thousands)* | **Average Balance** | **Interest** | **Yield/<br> Rate** | **Average Balance** | **Interest** | **Yield/<br> Rate** | **Average Balance** | **Interest** | **Yield/<br> Rate** |
| **Assets** |  |  |  |  |  |  |  |  |  |
| Interest earning assets: |  |  |  |  |  |  |  |  |  |
| Commercial loans <sup>(1) (2) (3)</sup> | $**34103384** | $**474439** | **5.52%** | $32836799 | $384995 | 4.65% | $29685875 | $286513 | 3.83% |
| Consumer loans <sup>(1) (2)</sup> | **9041520** | **101905** | **4.50** | 8931573 | 94425 | 4.21 | 8679722 | 83836 | 3.85 |
| Less: Allowance for loan losses | **(427525)** | **—** | **—** | (419160) |  |  | (474972) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | **42717379** | **576344** | **5.36** | 41349212 | 479420 | 4.60 | 37890625 | 370349 | 3.88 |
| Investment securities available for sale | **11296449** | **58840** | **2.09** | 11126705 | 53550 | 1.93 | 10884571 | 41447 | 1.52 |
| Trading account assets | **15552** | **68** | **1.75** | 16771 | 81 | 1.93 | 11280 | 42 | 1.50 |
| Other earning assets<sup>(4)</sup> | **1148099** | **10490** | **3.58** | 1012717 | 5791 | 2.24 | 3186271 | 1208 | 0.15 |
| FHLB and Federal Reserve Bank stock&nbsp;&nbsp;&nbsp;&nbsp; | **270822** | **2805** | **4.14** | 244879 | 1412 | 2.31 | 159933 | 919 | 2.30 |
| Mortgage loans held for sale | **46240** | **688** | **5.95** | 66601 | 862 | 5.18 | 130786 | 1009 | 3.09 |
| Other loans held for sale | **514811** | **6550** | **4.98** | 892805 | 11155 | 4.89 | 518992 | 4189 | 3.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | **56009352** | $**655785** | **4.65%** | 54709690 | $552271 | 4.01% | 52782458 | $419163 | 3.16% |
| Cash and due from banks | **651189** |  |  | 557537 |  |  | 541788 |  |  |
| Premises and equipment | **375352** |  |  | 383189 |  |  | 421577 |  |  |
| Other real estate | **—** |  |  | 2398 |  |  | 1351 |  |  |
| Cash surrender value of bank-owned life insurance | **1085394** |  |  | 1080914 |  |  | 1067004 |  |  |
| Other assets<sup>(5)</sup>&nbsp;&nbsp;&nbsp;&nbsp; | **842130** |  |  | 1322251 |  |  | 2097751 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $**58963417** |  |  | $58055979 |  |  | $56911929 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |
| Interest-bearing demand deposits&nbsp;&nbsp;&nbsp;&nbsp; | $**8627386** | $**14160** | **0.65%** | $8436922 | $5782 | 0.27% | $9165054 | $2238 | 0.10% |
| Money market accounts | **14771308** | **46671** | **1.25** | 15411450 | 20696 | 0.53 | 15998203 | 5562 | 0.14 |
| Savings deposits | **1450153** | **176** | **0.05** | 1508312 | 84 | 0.02 | 1408858 | 65 | 0.02 |
| Time deposits | **2567979** | **7648** | **1.18** | 2270163 | 2428 | 0.42 | 3163062 | 2600 | 0.33 |
| Brokered deposits | **4986542** | **39500** | **3.14** | 3899669 | 17927 | 1.82 | 2836841 | 3979 | 0.56 |
| Federal funds purchased and securities sold under repurchase agreements&nbsp;&nbsp;&nbsp;&nbsp; | **141707** | **437** | **1.21** | 240412 | 641 | 1.04 | 227664 | 24 | 0.04 |
| Other short-term borrowings | **660295** | **6383** | **3.78** | 709078 | 3666 | 2.02 | 32 |  |  |
| Long-term debt | **3446306** | **38333** | **4.39** | 2656939 | 22156 | 3.29 | 1203959 | 11498 | 3.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | **36651676** | $**153308** | **1.60%** | 35132945 | $73380 | 0.81% | 34003673 | $25966 | 0.30% |
| Non-interest-bearing demand deposits | **16569275** |  |  | 16904353 |  |  | 16545203 |  |  |
| Other liabilities | **1462394** |  |  | 1340020 |  |  | 1095080 |  |  |
| Shareholders' equity | **4280072** |  |  | 4678661 |  |  | 5267973 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $**58963417** |  |  | $58055979 |  |  | $56911929 |  |  |
| Net interest income, taxable equivalent net interest margin <sup>(6)</sup> |  | $**502477** | **3.60%** |  | $478891 | 3.49% |  | $393197 | 2.96% |
| Less: taxable-equivalent adjustment |  | **1131** |  |  | 972 |  |  | 884 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income |  | $**501346** |  |  | $477919 |  |  | $392313 |  |

---

<sup>(1)</sup> Average loans are shown net of deferred fees and costs. NPLs are included.

<sup>(2)</sup> Interest income includes net loan fees as follows: Fourth Quarter 2022 — $11.7 million, Third Quarter 2022 — $11.9 million, and Fourth Quarter 2021 — $24.7 million.

<sup>(3)</sup> Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans and investment securities to a taxable-equivalent basis.

<sup>(4)</sup> Includes interest-bearing funds with Federal Reserve Bank, interest earning deposits with banks, and federal funds sold and securities purchased under resale agreements

<sup>(5)</sup> Includes average net unrealized gains/(losses) on investment securities available for sale of $(1.69) billion, $(1.06) billion, and $(34.2) million for the Fourth Quarter 2022, Third Quarter 2022, and Fourth Quarter 2021, respectively.

<sup>(6)</sup> The net interest margin is calculated by dividing annualized net interest income-taxable equivalent by average total interest earning assets.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Synovus** | | | | | |
| **LOANS OUTSTANDING BY TYPE** | | | | | |
| **(Unaudited)** | | | | | |
| (Dollars in thousands) |  |  |  |  |  |
|  | **Total Loans** | **Total Loans** | **Linked Quarter** | **Total Loans** | **Year/Year** |
| **Loan Type** | **December 31, 2022** | **September 30, 2022** | **% Change** | **December 31, 2021** | **% Change** |
| Commercial, Financial, and Agricultural | $**13874416** | $13254966 | 5% | $12147858 | 14% |
| Owner-Occupied | **8192240** | 7957550 | 3 | 7475066 | 10 |
| **Total Commercial & Industrial** | **22066656** | 21212516 | 4 | 19622924 | 12 |
| Multi-Family | **3134571** | 2949172 | 6 | 2129424 | 47 |
| Hotels | **1708194** | 1712016 |  | 1537060 | 11 |
| Office Buildings | **3011911** | 2945771 | 2 | 2511058 | 20 |
| Shopping Centers | **1403928** | 1441385 | (3) | 1655465 | (15) |
| Warehouses | **1035152** | 943961 | 10 | 801639 | 29 |
| Other Investment Property | **1350291** | 1246099 | 8 | 1268130 | 6 |
| **Total Investment Properties** | **11644047** | 11238404 | 4 | 9902776 | 18 |
| 1-4 Family Construction | **229263** | 249840 | (8) | 206881 | 11 |
| 1-4 Family Investment Mortgage | **387670** | 389787 | (1) | 438588 | (12) |
| **Total 1-4 Family Properties** | **616933** | 639627 | (4) | 645469 | (4) |
| Commercial Development | **79889** | 92159 | (13) | 102790 | (22) |
| Residential Development | **108661** | 119019 | (9) | 171820 | (37) |
| Land Acquisition | **200783** | 198756 | 1 | 192256 | 4 |
| **Land and Development** | **389333** | 409934 | (5) | 466866 | (17) |
| **Total Commercial Real Estate** | **12650313** | 12287965 | 3 | 11015111 | 15 |
| Consumer Mortgages | **5214443** | 5166928 | 1 | 5068998 | 3 |
| Home Equity Lines | **1757038** | 1708246 | 3 | 1361419 | 29 |
| Credit Cards | **203612** | 197978 | 3 | 204172 |  |
| Other Consumer Loans | **1824291** | 1997825 | (9) | 2039334 | (11) |
| **Total Consumer** | **8999384** | 9070977 | (1) | 8673923 | 4 |
| &nbsp;&nbsp;&nbsp;**Total** | $**43716353** | $42571458 | 3% | $39311958 | 11% |
| **NON-PERFORMING LOANS COMPOSITION** |  |  |  |  |  |
| **(Unaudited)** |  |  |  |  |  |
| (Dollars in thousands) |  |  |  |  |  |
|  | **Total <br>Non-performing Loans** | **Total <br>Non-performing Loans** | **Linked Quarter** | **Total <br>Non-performing Loans** | **Year/Year** |
| **Loan Type** | **December 31, 2022** | **September 30, 2022** | **% Change** | **December 31, 2021** | **% Change** |
| Commercial, Financial, and Agricultural | $**59307** | $59275 | —% | $61787 | (4)% |
| Owner-Occupied | **10104** | 8433 | 20 | 11196 | (10) |
| **Total Commercial & Industrial** | **69411** | 67708 | 3 | 72983 | (5) |
| Multi-Family | **1857** | 2550 | (27) | 2380 | (22) |
| Office Buildings | **309** | 884 | (65) | 1615 | (81) |
| Shopping Centers | **735** | 742 | (1) | 915 | (20) |
| Warehouses | **223** | 223 |  | 223 |  |
| Other Investment Property | **349** | 641 | (46) | 717 | (51) |
| **Total Investment Properties** | **3473** | 5040 | (31) | 5850 | (41) |
| 1-4 Family Construction | **55** | 55 |  | 55 |  |
| 1-4 Family Investment Mortgage | **3067** | 3036 | 1 | 4508 | (32) |
| **Total 1-4 Family Properties** | **3122** | 3091 | 1 | 4563 | (32) |
| Commercial Development | **—** | 422 | (100) | 449 | (100) |
| Residential Development | **267** | 267 |  | 446 | (40) |
| Land Acquisition | **891** | 980 | (9) | 1023 | (13) |
| **Land and Development** | **1158** | 1669 | (31) | 1918 | (40) |
| **Total Commercial Real Estate** | **7753** | 9800 | (21) | 12331 | (37) |
| Consumer Mortgages | **36847** | 32527 | 13 | 29078 | 27 |
| Home Equity Lines | **6830** | 7121 | (4) | 9773 | (30) |
| Other Consumer Loans | **7220** | 4938 | 46 | 6877 | 5 |
| **Total Consumer** | **50897** | 44586 | 14 | 45728 | 11 |
| &nbsp;&nbsp;&nbsp;**Total** | $**128061** | $122094 | 5% | $131042 | (2)% |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Synovus** | | | | | | |
| **CREDIT QUALITY DATA** | **CREDIT QUALITY DATA** | **CREDIT QUALITY DATA** | **CREDIT QUALITY DATA** | **CREDIT QUALITY DATA** | **CREDIT QUALITY DATA** | |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | | | | |
| (Dollars in thousands) | **2022** | **2022** | **2022** | **2022** | **2021** | **Fourth Quarter** |
|  | **Fourth** | **Third** | **Second** | **First** | **Fourth** | **'22 vs '21** |
|  | **Quarter** | **Quarter** | **Quarter** | **Quarter** | **Quarter** | **% Change** |
| Non-performing Loans (NPL) | $**128061** | 122094 | 109024 | 132131 | 131042 | (2)% |
| Impaired Loans Held for Sale | **—** | 447 |  |  |  | nm |
| Other Real Estate and Other Assets | **15320** | 15320 | 26759 | 26759 | 27137 | (44) |
| Non-performing Assets (NPAs) | **143381** | 137861 | 135783 | 158890 | 158179 | (9) |
| Allowance for Loan Losses (ALL) | **443424** | 421359 | 407837 | 414956 | 427597 | 4 |
| Reserve for Unfunded Commitments | **57455** | 57936 | 50559 | 47317 | 41885 | 37 |
| Allowance for Credit Losses (ACL) | **500879** | 479295 | 458396 | 462273 | 469482 | 7 |
| Net Charge-Offs - Quarter | **13300** | 4682 | 16565 | 18609 | 10522 |  |
| Net Charge-Offs - YTD | **53156** | 39856 | 35174 | 18609 | 77788 |  |
| Net Charge-Offs / Average Loans - Quarter <sup>(1)</sup> | **0.12%** | 0.04 | 0.16 | 0.19 | 0.11 |  |
| Net Charge-Offs / Average Loans - YTD <sup>(1)</sup> | **0.13** | 0.13 | 0.18 | 0.19 | 0.20 |  |
| NPLs / Loans | **0.29** | 0.29 | 0.26 | 0.33 | 0.33 |  |
| NPAs / Loans, ORE and specific other assets | **0.33** | 0.32 | 0.33 | 0.40 | 0.40 |  |
| ACL/Loans | **1.15** | 1.13 | 1.11 | 1.15 | 1.19 |  |
| ALL/Loans | **1.01** | 0.99 | 0.99 | 1.03 | 1.09 |  |
| ACL/NPLs | **391.13** | 392.56 | 420.45 | 349.86 | 358.27 |  |
| ALL/NPLs | **346.26** | 345.11 | 374.08 | 314.05 | 326.31 |  |
| Past Due Loans over 90 days and Still Accruing | $**3373** | 3443 | 2251 | 3067 | 6770 | (50) |
| As a Percentage of Loans Outstanding | **0.01%** | 0.01 | 0.01 | 0.01 | 0.02 |  |
| Total Past Due Loans and Still Accruing | $**65568** | 63545 | 56160 | 45385 | 57565 | 14 |
| As a Percentage of Loans Outstanding | **0.15%** | 0.15 | 0.14 | 0.11 | 0.15 |  |
| Accruing Troubled Debt Restructurings (TDRs) | $**146840** | 118755 | 164101 | 145957 | 119804 | 23 |
| <sup>(1)</sup> Ratio is annualized. |  |  |  |  |  |  |
| **SELECTED CAPITAL INFORMATION** <sup>(1)</sup> |  |  |  |  |  |  |
| **(Unaudited)** |  |  |  |  |  |  |
| (Dollars in thousands) |  |  |  |  |  |  |
|  | **December 31, 2022** | **September 30, 2022** | **December 31, 2021** |  |  |  |
| Tier 1 Capital | $**5463338** | 5306324 | 4925763 |  |  |  |
| Total Risk-Based Capital | **6415680** | 6237082 | 5827196 |  |  |  |
| Common Equity Tier 1 Capital Ratio | **9.63%** | 9.52 | 9.50 |  |  |  |
| Tier 1 Capital Ratio | **10.68** | 10.59 | 10.66 |  |  |  |
| Total Risk-Based Capital Ratio | **12.54** | 12.45 | 12.61 |  |  |  |
| Tier 1 Leverage Ratio | **9.07** | 9.04 | 8.72 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Shareholders' Equity to Total Assets Ratio | **7.49** | 7.21 | 9.24 |  |  |  |
| Tangible Common Equity Ratio<sup>(2)(4)</sup> | **5.84** | 5.52 | 7.52 |  |  |  |
| Book Value Per Common Share<sup>(3)</sup> | $**27.07** | 25.39 | 32.82 |  |  |  |
| Tangible Book Value Per Common Share<sup>(2)</sup> | **23.78** | 22.08 | 29.46 |  |  |  |
| <sup>(1)</sup> Current quarter regulatory capital information is preliminary. | <sup>(1)</sup> Current quarter regulatory capital information is preliminary. | <sup>(1)</sup> Current quarter regulatory capital information is preliminary. | <sup>(1)</sup> Current quarter regulatory capital information is preliminary. |  |  |  |
| <sup>(2)</sup> Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. | <sup>(2)</sup> Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. | <sup>(2)</sup> Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. | <sup>(2)</sup> Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. | <sup>(2)</sup> Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. |  |  |
| <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | <sup>(3)</sup> Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. |  |
| <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. | <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. | <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. | <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. | <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. | <sup>(4)</sup> See "Non-GAAP Financial Measures" for applicable reconciliation. |  |

---

## Exhibit 99.3

![](snv_12312022xex993presen001.jpg)

Fourth Quarter 2022 Results January 19, 2023 Exhibit 99.3

------

![](snv_12312022xex993presen002.jpg)

2 Forward Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus' use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "predicts," "could," "should," "would," "intends," "targets," "growth estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Synovus' future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, statements on our expectations related to (1) loan growth and line utilization; (2) deposit growth, pricing, and betas; (3) net interest income and net interest margin; (4) revenue growth; (5) non-interest expense; (6) credit trends and key credit performance metrics; (7) our effective tax rate; (8) our capital position; (9) our future operating and financial performance, including our outlook for 2023; (10) our intended strategies, initiatives, and other operational and execution goals; and (11) our assumptions underlying these expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus' management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this presentation. Many of these factors are beyond Synovus' ability to control or predict. These forward-looking statements are based upon information presently known to Synovus' management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021 under the captions "Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors" and in Synovus' quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. Use of Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted revenue; adjusted non-interest expense; adjusted tangible efficiency ratio; adjusted pre-provision net revenue (PPNR); adjusted PPNR excluding Payment Protection Plan (PPP) revenue; and tangible common equity ratio. The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; taxable equivalent (TE) revenue; total non-interest expense; efficiency ratio; PPNR; and total shareholders' equity to total assets ratio, respectively. Management uses these non-GAAP financial measures to assess the performance of Synovus' business and the strength of its capital position. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management, investors, and bank regulators in evaluating Synovus' operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus' performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted revenue are measures used by management to evaluate non-interest revenue and TE revenue exclusive of net investment securities gains (losses) and fair value adjustment on non-qualified deferred compensation. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. Adjusted PPNR ex. PPP revenue is used by management to evaluate pre-provision net revenue exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons including PPP revenue. The tangible common equity ratio is used by management and bank regulators to assess the strength of our capital position. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Synovus' control, or cannot be reasonably predicted. For the same reasons, Synovus' management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

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Key Performance Metrics Reported Adjusted(5) Net Income Available to Common Shareholders(6) $724,739 $722,459 Diluted Earnings Per Share $4.95 $4.93 Return on Average Assets 1.32% 1.31% Return on Average Tangible Common Equity 19.9% 19.8% Efficiency Ratio-TE(7) 52.4% 52.2% (8) Key Guidance Metrics 2022 YoY Period-end Loan Growth (ex. PPP) 12% Adjusted Revenue Growth (ex. PPP)(5) 16% Adjusted Non-Interest Expense Growth(5) 7% Adjusted PPNR Growth, (ex. PPP)(5) 29% CET1 Ratio 9.6% Effective Tax Rate 21.4% Top tier operating metrics • Top quartile ROAA and Efficiency Ratio(1) Robust Revenue and PPNR(2) growth • 17% NII growth driven by loan growth and asset sensitivity • Excluding mortgage, core client fee income(3) growth of 8% Diversified loan growth • Commercial LOBs led loan growth of 12%, ex. PPP • Widened spreads while maintaining credit discipline Continued adherence to guiding credit and capital principles • NPA, NPL, and Net Charge-off ratios all improved YoY • Grew CET1 ratio to upper half of target operating range Well-managed deposit costs • 21% cycle to date beta through 4Q22 Deepened core client relationships • Overall deposit production(4) up 30% • 27% increase in treasury solutions sold • 59% increase in syndication fees Continued progress on key strategic initiatives • Exceeded $175 million Synovus Forward initiative target 2022 Full Year Financial Highlights (1) Top quartile LTM through 3Q22 vs proxy peers; (2) Pre-provision net revenue equals total revenue less non interest expense; (3) Includes core banking fees, wealth management revenue, and capital market income; (4) Includes balances associated with new accounts originated including the impact of existing customers switching account types; (5) Non-GAAP financial measure; see appendix for applicable reconciliation; (6) In thousands; (7) Taxable equivalent; (8) Adjusted tangible efficiency ratio. 3

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Key Performance Metrics Reported Adjusted(5) Net Income Available to Common Shareholders(6) $197,479 $197,576 Diluted Earnings Per Share $1.35 $1.35 Return on Average Assets 1.38% 1.39% Return on Average Tangible Common Equity 24.2% 24.2% Efficiency Ratio-TE(7) 51.1% 50.6% Balance Sheet (Period-end, $ in millions) Total Loans, Net of Unearned $43,716 Deposits $48,872 Fourth Quarter 2022 Financial Highlights (1) Pre-provision net revenue equals total revenue less non interest expense; (2) Excludes brokered; (3) Includes balances associated with new accounts originated in the quarter including the impact of existing customers switching account types; (4) 4Q22 capital ratios are preliminary; (5) Non-GAAP financial measure; see appendix for applicable reconciliation; (6) In thousands; (7) Taxable equivalent; (8) Adjusted tangible efficiency ratio. 4 (8) • Total revenue of $604 million, an increase of 19% YoY and 4% QoQ: ◦ PPNR(1) increased $81 million, or 38%, YoY and 2% QoQ ◦ NII increased 28% YoY and 5% QoQ ◦ NIM expanded 11 bps to 3.60% in 4Q22 • Loan growth of $1.1 billion, or 3% QoQ ◦ Growth continues to be diversified across business lines ◦ Floating rate commercial loans spreads continued to expand QoQ • Total deposits up $1.2 billion, or 2% QoQ ◦ Core deposits(2) up 1% QoQ ◦ Deposit production(3) up 50%+ QoQ • Credit quality metrics continue to remain strong ◦ NPA, NPL, and Net Charge-Off ratios remained near historical lows ◦ ACL ratio stable at 1.15% • Grew CET1 ratio to 9.63%(4) ◦ Prioritize capital deployment towards client growth

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5 Total Loans • 3% loan growth, or 11% annualized, QoQ ◦ Overall payoffs remain low relative to historical levels ◦ Higher utilization on existing commitments contributed ~$100 million to QoQ growth • Broad based-contribution to loan growth ◦ Consumer, FMS, and Wholesale segments all grew loans ◦ All Wholesale sub-businesses experienced growth 10% 14% 11% 12% 14% 11% 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 QoQ Annualized % Change in Loans, ex. PPP Consistent Loan GrowthSummary Total C&I Revolving Commitments and Line UtilizationLoan Growth Attribution $43,716 $42,571 $362 $854 $83 $(154) 3Q22 CRE C&I Direct Consumer Third-Party Consumer 4Q22 Change in Ending Loan Balances ($ in millions) ($ in millions) $12,194 $13,301 $13,873 $14,289 42.8% 47.1% 47.3% 48.6% Total Commitments C&I Line Utilization 4Q21 2Q22 3Q22 4Q22 $44 billion Amounts may not total due to rounding.

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0.12% 0.38% 0.88% 1.08% 4Q21 3Q22 4Q22 Dec 22 6 Total Deposits QoQ Change in Ending Balances(3) ($ in millions) $49 billion Cumulative Total Deposit Beta of 21% through 4Q22 0.25% 2.39% 3.84% 4.29% 4Q21 3Q22 4Q22 Dec 22 Fed Target Average Total Deposit Cost $(719) $(73) $475 $62 $629 $801 Non-Interest- Bearing Savings NOW MMA Time Brokered Deposit Production Focus $1.3 $0.9 $1.1 $1.4 $2.2 4Q21 1Q22 2Q22 3Q22 4Q22 ($ in billions) • Total deposits increased $1.2 billion, or 2% QoQ ◦ Core Deposit(1) growth of $373 million QoQ ◦ Growth in Time deposits a result of mix shift from MMA as well as new deposit production efforts ◦ Seasonality benefited Public Fund deposit balances • Strong production offset diminishment headwinds from price sensitive clients and liquidity deployment ◦ Deposit production(2) increased over 50% from 3Q22 to 4Q22, and all lines of business saw QoQ production increases (1) Excludes brokered; (2) Includes balances associated with new accounts originated in the quarter including the impact of existing customers switching account types; (3) Balances in bar chart include the public funds changes QoQ seen below the chart; (4) Excluding public funds deposits due to seasonal benefits and including production resulting from existing relationships changing account type. Total Deposit Production(4) Public Funds QoQ Growth: 4Q21 vs. 4Q22 $80 $1 $490 $500 $16 +359 bps +76 bps Summary

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$392 $392 $425 $478 $501 2.96% 3.00% 3.22% 3.49% 3.60% Net Interest Income Net Interest Margin 4Q21 1Q22 2Q22 3Q22 4Q22 Net Interest Income NII Growth NIM Expansion ($ in millions) 7 $501 million Summary • NII growth of $109 million, or 28% YoY ◦ Growth of $23 million, or 5% QoQ • NII was supported by both loan growth and net interest margin expansion ◦ Margin expansion of 11 bps QoQ, aided by higher interest rates, deposit pricing discipline, and deposit beta lags 58% 61% 62% 4Q21 3Q22 4Q22 Loan Mix and Yield Performance Floating Rate Loan Portfolio Mix Change in Loan Yield vs Peers(1) Cycle to Date 3Q YTD Peer Average 73 bps 4Q YTD SNV 3.60%3.49% 0.58% 0.06% (0.24)% (0.22)% (0.02)% 3Q22 Loan Yields Cash/Securities Yields Deposit Cost Wholesale Funding Other 4Q22 4Q22 NIM: Primary Drivers of Change(2) Amounts may not total due to rounding; (1) Peers includes proxy peer set; change in loan yield from 4Q21 through 3Q22 sourced from call report data and includes impact of loan hedge program; (2) Estimated impact; (3) Excluding brokered deposits which are included in wholesale funding; (4) 'Other' includes various unattributed items. (3) (4)3Q YTD SNV 75 bps 148 bps

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$335 $15 $10 $1 $361 2021 Core Banking Fees Wealth Revenue Capital Markets Income 2022 Summary Fee Income Non-Interest Revenue ($ in millions) 4Q22 QoQ Δ YoY Δ Core Banking Fees(1) $46 4% 10% Wealth Revenue(2) $40 5% 7% Capital Markets Income $7 2% (3)% Net Mortgage Revenue $3 (50)% (64)% Total Other Income(3) $5 (53)% (78)% Total Adjusted Non-Interest Revenue(4) $101 (4)% (13)% Total Non-Interest Revenue $102 (2)% (12)% Amounts may not total due to rounding; (1) Include service charges on deposit accounts, card fees, letter of credit fees, ATM fee income, line of credit non-usage fee, gains (losses) from sales of SBA loans, and miscellaneous other service charges; (2) Consists of fiduciary/asset management, brokerage, and insurance revenues; (3) Includes earnings on equity method investments, income from BOLI, and other miscellaneous income; (4) Non-GAAP financial measure; see appendix for applicable reconciliation. 8 $102 million • Core Banking Fees - Card fees up 24% from the same quarter in prior year due to strong consumer and commercial spend • Wealth Revenue - Increase driven by repo revenue, a result of facilitating off-balance sheet investment options • Capital Markets - Income up QoQ as core commercial clients drove swap and syndication fees in 4Q22 • Other Income - 4Q22 negative tax-related valuation adjustments of approximately $5 million 161% increase in Repo revenue Family Office clients up 11% YoY Crossed $1 billion in Commercial Card spend 22% increase in Payment Partnerships revenue Syndication fees increased 59% Core Client Fee Income growth ex Mortgage of 8% (2)(1) Highlights Core Banking Fees, Wealth Revenue and Capital Markets Income 2022 vs. 2021

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• QoQ and YoY increases in performance related costs highlights alignment between financial performance and expense growth • Top quartile efficiency ratio(1) a result of prudent expense management while investing in new business initiatives and infrastructure/projects • Fair value adjustment to Visa indemnification agreement resulted in $2.5 million 4Q22 expense(2) $307 $286 $7 $4 $7 $6 $(2) Adjusted 4Q21 Performance Related Expense New Business Initiatives Infrastructure Expenses Merit/ Compensation Other Adjusted 4Q22 $307 $294 $4 $2 $5 $3 Adjusted 3Q22 Performance Related Expense New Business Initiatives Infrastructure Initiatives Other Adjusted 4Q22 Adjusted NIE - QoQ Cost Drivers ($ in millions) 4Q22 QoQ Δ YoY Δ Total Employment $181 4% 9% Total Other $81 6% 6% Total Occupancy, Equipment, and Software $45 4% 6% Total Adjusted Non-Interest Expense(2)(3) $307 4% 8% Total Non-Interest Expense $309 5% 5% Expense Trends Adjusted NIE - YoY Cost Drivers Amounts may not total due to rounding; (1) LTM through 3Q22 vs. proxy peers; (2) VISA is not reflected in adjusted non-interest expense; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) Performance related expense includes loan origination, FDIC expense, travel and entertainment, and incentives; (5) New business initiatives includes Maast, CIB, and expense related to other new growth initiatives; (6) Expenses associated with technology and operational upgrades. Non-Interest Expense 9 ($ in millions) ($ in millions) $309 million (6) (4) (5) (5)(4) (6) Summary

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NPA, NPL, and Past Due Ratios $469 $462 $458 $479 $501 1.19% 1.15% 1.11% 1.13% 1.15% Allowance for Credit Losses ACL Coverage Ratio 4Q21 1Q22 2Q22 3Q22 4Q22 0.40% 0.40% 0.33% 0.32% 0.33% 0.33% 0.33% 0.26% 0.29% 0.29% 0.15% 0.11% 0.14% 0.15% 0.15% NPA Ratio NPL Ratio Total Past Dues > 30 Days Ratio 4Q21 1Q22 2Q22 3Q22 4Q22 $(55) $11 $13 $26 $35 $11 $19 $17 $5 $13 Provision for Credit Losses Net Charge-Offs 4Q21 1Q22 2Q22 3Q22 4Q22 Allowance for Credit Losses Amounts may not total due to rounding. 10 ($ in millions)($ in millions) 0.11% 0.19% 0.16% 0.04% 0.12%NCO Ratio:358% 350% 420% 393% 391%ACL to NPLs: • Credit metrics remain strong overall and near historic lows • ACL stable as positive loan portfolio credit performance was offset by declining economic outlook Credit Quality Provision and Net Charge-Offs Summary

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11 9.63%9.50% 1.42% (1.03)% (0.39)% (0.03)% 0.16% Beginning CET1 Ratio (4Q21) Net Income Available to Common Shareholders Risk- Weighted Assets Common Dividends Share Repurchases Other Ending CET1 Ratio (4Q22) 9.50% 9.52% 9.63% Common Equity Tier 1 Tier 1 Tier 2 4Q21 3Q22 4Q22 Summary Capital Metrics Capital Ratios Capital Deployment Targeted Towards Organic Growth (2) 12.61% 10.66% Total Payout Ratio: 29% (2) • Continued to deploy capital toward core client growth while maintaining strong capital position ◦ CET1 ratio up +11bps QoQ; within upper half of planned target range • Expect consistent capital management approach for 2023; maintain priorities laid out during 2022 Investor Day ◦ 2023 capital plan includes a planned increase of quarterly common dividend to $0.38/share, effective April 2023 12.54% 10.68% 2022 2023 Full Year Review & Outlook • Deployed 70%+ of earnings generation to core asset growth • Quarterly dividend of $0.34/share • Maintained stable CET1 ratio throughout year, near mid-point of 9.25% to 9.75% target • Maintain target 9.25% to 9.75% CET1 range • Planned increase of quarterly dividend to $0.38/share (effective April 2023) • $300 million share repurchase authorization (1) YoY Capital Deployment 10.59% 12.45% Amounts may not total due to rounding; (1) Includes changes in intangible assets and applicability of deferred tax assets; (2) 4Q22 capital ratios are preliminary.

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• Growth from newer business lines and recent hires, offset by third-party rundown and slowing economy • Assumes Fed reaches and holds near 5% and current long-term rates remain stable • Lower and upper end of range predominately impacted by deposit beta, timing of deposit repricing and deposit mix; total deposit beta range remains 35 - 40% with modest levels of NIB/IB remixing expected • Assumes more balanced monetary policy and liquidity environment • Increased core operating costs and new initiative investments collectively represent 80% of overall expense increase • Lower and upper end of range aligned to overall company performance • Commitment to YoY positive operating leverage • Continue to operate within current target range with a bias towards mid to upper half of range • Positively impacted by tax driven business lines (CIC) and tax credit investments (solar, new market), offset by higher non-deductible FDIC expense and slightly higher state tax apportionment (1) Not adjusting for PPP loans or PPP revenue in 2023 outlook given relatively immaterial impact to 2022 and 2023 forecasted results; (2) Non-GAAP financial measure; see cautionary language on slide 2 and appendix for applicable reconciliation. 12 Key Assumptions EOP Loan Growth(1) Adjusted Revenue Growth(1)(2) Adjusted NIE Growth(2) Adjusted PPNR Growth(1)(2) Effective Tax Rate CET1 Operating Range 8 - 12% 5 - 9% 11 - 15% 21 - 23% 9.25 - 9.75% 5 - 9% Guidance 2023 Outlook $2.21B $1.16B $1.05B $43.72B 2022 Baseline 9.63% 21.4%

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Safety and Soundness Contribution from New Growth Initiatives Continued Execution within Core Businesses 2023: A Year of Focused Execution • Key focus on liquidity and deposit generation across all LOBs • Maintain strong credit performance and overall credit vigilance • Continue to enhance industry and sector monitoring tools that can provide early indicators of financial stress • Manage capital levels consistent with current capital management approach outlined at 2022 Investor Day • Expect broad cross-LOB relationship growth with focus on deposit retention and generation • Expansion of Treasury & Payment Solutions to support deposit efforts via Accelerate line of product offerings • Continued growth in syndication and distribution capabilities • Streamlined client experiences through new technology and process enhancements • Consumer client relationship deepening through enhanced analytics and digital capabilities • Broader launch and adoption of Maast • Expansion of loan and depository relationships and increased fee income contributions from CIB • Build-out of Private Wealth offerings to better serve business owners across all commercial LOBs • Expansion of frontline team members in key growth markets – Atlanta, Nashville, Orlando, Tampa, and Miami 13

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Appendix

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Synovus Forward 2020 - 2022 Key Strategic BenefitsOverall Results ~45%~45% ~10% Balance Sheet Management Expense Initiatives Revenue Initiatives ~$180MM Pre-tax run rate benefit Revenue • Launched two new sub-business lines - Community Investment Capital & Restaurant Vertical • Adopted commercial and consumer analytics to aid with client retention and relationship deepening • Implemented enhanced deposit pricing tools and operating framework Expense • Reduced real estate square footage by ~20% • Streamlined back office operations resulting in ~18% increase in revenue/FTE from 2019 - 2022 • Reduced third party spend - $20+ million in annual saves • Implemented over 60 IT automations and client journeys • Embedded core expense management into operating philosophy Balance Sheet Management • Enhanced yields through asset allocation strategies 15

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($ in thousands) Allowance for Credit Losses ACL/Loans: Economic Scenario Assumptions and Weightings 1.13% 1.15% 1 $500,879 $479,295 $18,610 $10,648 $(14,790) $7,116 3Q22 Economic Factors Growth Performance Other Factors 4Q22 16 (1) (1) Other factors include the addition to the ACL associated with the cessation of a third-party lending relationships and expected decline in that portfolio in 2023 as well as the impact of dispositions, sub-pool changes, etc.; (2) Downside scenarios carry a total weighting of 50%, and correspond to Moody's November 2022 "S5" Slow Growth scenario and "S3" Downside 90th Percentile scenario; (3) Upside refers to Moody's November 2022 "S1" Upside 10th Percentile scenario; (4) 4th quarter model estimates. 4th Quarter Change from 2023(4) 2024(4) Scenario Model Weighting Previous Quarter GDP Unemployment GDP Unemployment Consensus Baseline 40% +15% 0.4% 4.3% 1.4% 4.5% Slow Growth(2) 35% -20% 0.5% 4.5% 1.3% 5.1% Downside(2) 15% NC (1.5)% 6.8% 0.2% 7.3% Upside(3) 10% +5% 3.4% 3.4% 2.9% 3.4% Weighted Average 0.5% 4.7% 1.3% 5.0%

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45.3% 41.5% 35.7% 31.2% 24.0% 6.7% 12.8% 18.1% 25.2% 8.7% 8.3% 8.6% 8.3% 8.3% 42.3% 41.3% 40.2% 39.5% 38.2% 3.88% 3.76% 3.92% 4.60% 5.36% LIBOR SOFR BSBY/Other Prime Fixed rate Yield 4Q21 1Q22 2Q22 3Q22 4Q22 Earning Assets Composition $10,992 $11,158 $11,014 $11,277 $11,273 1.52% 1.68% 1.80% 1.93% 2.09% Securities Yield 4Q21 1Q22 2Q22 3Q22 4Q22 $4,150 $4,650 $4,250 $4,250 $4,100 $3,100 $3,100 $3,100 $2,350 $2,100 1.38% 1.47% 1.82% 1.82% 1.83% 1.91% 1.91% 1.91% 2.22% 2.27% Notional Effective Rate 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 (1) Amortized cost; (2) Represents Total Notional outstanding of cash-flow loan hedges, along with the estimated effective fixed-rate for the respective period; (3) Reported sensitivities assume a dynamic balance sheet and a through the cycle total deposit cost beta of mid-30% as reported in our 10-Q/10-K. 17 1.5% 2.2% 2.2% ($ in millions) Loan Hedge Portfolio(2) Loan Portfolio Rate Mix and Yield Total Securities Portfolio Size(1) 2.7% 2.9% 4.3% 3.1% 1.9% 0.8% (0.4)% (1.5)% 35% 40% 45% 50% 55% NII Sensitivity: +100 bps Scenario(3) Total Deposit Beta:

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3Q22 4Q22 December 2022 ($ in millions; rates annualized) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Rate Non-interest-bearing $16,904 N/A $16,569 N/A N/A Interest-bearing non-maturity (NMD) $25,357 0.42% $24,849 0.97% 1.20% Time $2,270 0.42% $2,568 1.18% 1.58% Brokered $3,900 1.82% $4,987 3.14% 3.60% Total interest-bearing $31,527 0.59% $32,403 1.32% 1.61% Total deposits $48,431 0.38% $48,973 0.88% 1.08% Average Deposit Costs 18

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(1) In millions; balances as of 12/31/2022; (2) Senior Housing LTVs are based on total economic value of an operating facility; (3) 75% is the maximum LTV necessary for a HUD permanent takeout, the primary senior housing exit strategy. 19 Well-Positioned in Recession Sensitive Sectors Senior HousingOffice Hotel Retail Small Business Balance: $3,012(1) LTV: 53.3% % of Loans >70% LTV: 7.9% Balance: $1,708(1) LTV: 56.2% % of Loans >70% LTV: 3.2% Balance: $1,404(1) LTV: 52.0% % of Loans >70% LTV: 9.0% Balance: $3,794(1) LTV: 60.1%(2) % of Loans >75% LTV(3): 4.7% Balance: $980(1) >50% 98% 76% 85% 66%of Office portfolio is medical in nature of Hotel portfolio is Upper-Midscale and above of Retail collateral is occupied by a credit rated tenant or necessity provider of Sr Housing portfolio is private pay of the Small Business portfolio is secured by real estate This matters because: • Health related spending has increased 25% since 2Q20 and comprises 20% of US GDP This matters because: • Recent weakness in hotel performance has been confined to lower quality tiers This matters because: • Necessity providers are excellent recession hedges and are less susceptible to online competition This matters because: • Private pay facilities absorb rent increases more easily and are less constrained by reimbursements This matters because: • Real estate-secured Small Business loans are less likely to default 2014 0 97% 0 73%Average effective age of office collateral Losses in the portfolio since the pandemic Single Tenant retail occupants are credit rated tenants Losses since the inception of vertical in 2011 Of Synovus Small Business Customers report equal or higher business activity in 4Q22 This matters because: • Vintage is a large determinant of value • In general, office properties built prior to 2000 trade at a discount to newer offices This matters because: • Demonstrates a portfolio well- positioned for less-than-optimal economic conditions This matters because: • National credit-rated tenant collection rates are above 95% • Single credit tenant retail properties are backed by large corporate guarantees This matters because: • Demonstrates expertise of management team and quality of operators This matters because: • Our small business customers are showing resilience in the face of a potential downturn

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Loan Portfolio by Category • 92% are income-producing properties • Diversity among property types and geographies • National C&I Specialty lending(2) is well-diversified among multiple lines-of-business • C&I industry mix aligned with economic and demographic drivers • Weighted average credit score of 793 and 780 for Home Equity and Mortgage, respectively • Weighted average LTV of 73.6% and 72.5% for Home Equity and Mortgage, respectively(1) Consumer Portfolio - $9.0 billion CRE Portfolio - $12.7 billion C&I Portfolio - $22.1 billion Consumer R/E Related 16.0% National C&I Specialty Lending(2) 24.0% In-Footprint Middle Market & Commercial Banking 26.5% Hotel 3.9% Shop ping Cent ers 3 .2% Of fic e B ldg . 6.9 % M ul ti- Fa m ily 7. 2%O th er C RE Pr op . T yp es 6. 5% Resi, Constr, Dev, Land 1.2% Consumer CRE C&I Portfolio Characteristics Consumer CRE C&I NPL Ratio 0.57% 0.06% 0.31% QTD Net Charge-off Ratio (annualized) 0.39% 0.00% 0.08% 30+ Days Past Due Ratio 0.52% 0.01% 0.08% 90+ Days Past Due Ratio 0.02% 0.00% 0.01% Consum er N on-R/E 4.6% 20 Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2022 commitment amount and any existing senior lien; (2) National C&I specialty lending is primarily comprised of our senior housing portfolio, national accounts, structured lending (primarily lender finance), insurance premium finance and CIB portfolios.

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21 Commercial Real Estate Composition of 4Q22 CRE Portfolio Total Portfolio $12.7 billion Investment Properties Land, Development and Residential Properties Portfolio Characteristics (as of December 31, 2022) Office Building Multi-family Shopping Centers Hotels Other Investment Properties Warehouse Residential Properties(1) Development & Land Balance (in millions) $3,012 $3,135 $1,404 $1,708 $1,350 $1,035 $617 $389 Weighted Average LTV(2) 53.3% 54.1% 52.0% 56.2% 56.0% 56.4% N/A N/A NPL Ratio 0.01% 0.06% 0.05% 0.00% 0.03% 0.02% 0.51% 0.30% Net Charge-off Ratio (annualized) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% (0.17)% 30+ Days Past Due Ratio 0.00% 0.02% 0.02% 0.00% 0.02% 0.00% 0.12% 0.02% 90+ Days Past Due Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Investment Properties portfolio represent 92% of total CRE portfolio • The portfolio is well diversified among property types • Credit quality in Investment Properties portfolio remains excellent CRE Credit Quality • 0.06% NPL Ratio • 0.00% Net Charge-Off Ratio (annualized) • 0.01% 30+ Day Past Due Ratio • 0.00% 90+ Day Past Due Ratio Amounts may not total due to rounding; (1) Includes 1-4 Family Construction and 1-4 Family Perm/Mini-Perm (primarily rental homes); (2) LTV calculated by dividing most recent appraisal (typically at origination) on non-construction component of portfolio by the 12/31/22 commitment amount. 1.8% 0.9% 1.6% 0.6% Office Building Multi-Family Hotels Shopping Center Other Investment Properties Warehouses 1-4 Family Perm/Mini-Perm 1-4 Family Construction Residential Development Land Acquisition Commercial Development 24.8%11.1% 13.5% 10.7% 23.8% 8.2% 3.1%

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C&I Portfolio Credit Indicator 4Q22 NPL Ratio 0.31% Net Charge-off Ratio (annualized) 0.08% 30+ Days Past Due Ratio 0.08% 90+ Days Past Due Ratio 0.01% • Wholesale Bank (includes Middle Market and Specialty Lines) represents 72% of C&I balances • Finance/Insurance predominantly represented by secured lender finance portfolio • Senior Housing consists of 85% private pay facilities Diverse Industry Exposure Total C&I Portfolio $22.1 billion 16.9% 15.2% 6.6% 6.6% 6.2% 5.6% 5.5% 5.0% 4.9% 4.3% 4.2% 4.0% 3.6% 2.7% 2.2% 2.2% 1.9% 1.2% 1.1% Finance/Insurance Senior Housing Health Care Manufacturing Accom. & Food Svcs. R/E Other Wholesale Trade Construction Retail Trade Prof., Scientific, Tech. Svcs. Other Services Transport/Warehousing R/E Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Admin., Support, Waste Mgmt. Ag, Forestry, Fishing Amounts may not total due to rounding; (1) These segments are not two digit NAICS industry divisions; Senior Housing is a subset of NAICS 62 Health Care and Social Assistance, and R/E other and R/E leasing together comprise NAICS 53 Real Estate, Rental, and Leasing. 22 (1) (1) (1)

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Consumer Portfolio Credit Indicator 4Q22 NPL Ratio 0.57% Net Charge-off Ratio (annualized) 0.39% 30+ Days Past Due Ratio 0.52% 90+ Days Past Due Ratio 0.02% • 77% of Consumer portfolio is secured by residential real estate • Other Consumer includes secured and unsecured products • Average consumer card utilization rate is 23% Total Consumer Portfolio $9.0 billion Credit Indicator Home Equity Mortgage Weighted Average Credit Score of 4Q22 Originations 791 765 Weighted Average Credit Score of Total Portfolio 793 780 Weighted Average LTV(1) 73.6% 72.5% Average DTI(2) 34.3% 33.2% Utilization Rate 37.3% N/A 57.9% 19.5% 15.9% 4.4% 2.3% Consumer Mortgage Home Equity Third-Party Other Consumer Credit Card Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 9/30/2022 commitment amount and any existing senior lien; (2) Average DTI of 4Q22 originations. Consumer Credit Quality 23

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Third-Party Consumer 10.23% Core Transaction Deposits $1,644 $1,618 $1,601 $1,580 $1,426 $642 $612 $841 $639 $340 Held-for-Investment (HFI) Held-for-Sale (HFS) 4Q21 1Q22 2Q22 3Q22 4Q22 38% 10% 26% 26% Auto/RV/Marine Home Improvement Personal Student HFI Portfolio Composition 4Q22 ($ in millions) Auto/RV/ Marine Home Improvement Personal Student Loan Balance $536 $149 $373 $367 Weighted Avg. FICO Score 749 767 751 777 NPL Ratio 0.66% nm 0.66% 0.22% Net Charge-off Ratio (annualized) 1.33% nm 3.03% 0.27% 30+ Day Past Due Ratio 2.34% 1.37% 1.11% 0.19% • Diversity among asset types; primarily fixed-rate loans • Credit Quality for HFI loans: ◦ Weighted Average FICO of 759 ◦ NPL Ratio of 0.48% ◦ Annualized Net Charge-off Ratio of 1.39% ◦ 30+ Day Past Due Ratio of 1.36% ($ in millions) 24Note: "nm" -- credit metrics not meaningful due to application of credit enhancements. Amounts may not total due to rounding.

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Risk Distribution ($ in millions) Composition Change Risk Category 4Q22 3Q22 4Q22 vs. 3Q22 Passing Grades $42,774 $41,643 $1,131 Special Mention 313 388 (75) Substandard Accruing 501 418 83 Non-Performing Loans 128 122 6 Total Loans $43,716 $42,571 $1,145 Amounts may not total due to rounding. 25 $1,028 $1,032 $914 $929 $942 2.6% 2.6% 2.2% 2.2% 2.2% Criticized and Classified Loans % of Total Loans 4Q21 1Q22 2Q22 3Q22 4Q22 Portfolio Risk DistributionCriticized & Classified Loans

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26 4Q21 1Q22 2Q22 3Q22 4Q22 Diluted EPS $1.31 $1.11 $1.16 $1.33 $1.35 Net interest margin 2.96% 3.00% 3.22% 3.49% 3.60% Efficiency ratio-TE 57.85 54.66 53.87 50.41 51.08 Adjusted tangible efficiency ratio(1) 55.64 55.50 53.43 49.98 50.58 ROAA(2) 1.40 1.22 1.26 1.39 1.38 Adjusted ROAA(1)(2) 1.44 1.19 1.27 1.39 1.39 Total loans 3% 2% 3% 3% 3% Total deposits 4% (2)% 1% (3)% 2% NPA ratio 0.40% 0.40% 0.33% 0.32% 0.33% NCO ratio(2) 0.11 0.19 0.16 0.04 0.12 Common shares outstanding(3) 145,010 145,335 145,358 145,443 145,487 Leverage ratio 8.72% 8.87% 9.03% 9.04% 9.07% Tangible common equity ratio(1) 7.52 6.80 6.26 5.52 5.84 Financial Performance (1) Non-GAAP financial measure; see applicable reconciliation; (2) Annualized; (3) In thousands; (4) Preliminary. (4) Quarterly Highlights Trend Balance Sheet QoQ Growth Credit Quality Capital

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27 (in thousands, except per share data) 4Q22 3Q22 4Q21 Net interest income $501,346 $477,919 $392,313 Non-interest revenue 102,439 104,298 117,068 Non-interest expense 308,996 294,010 295,207 Provision for (reversal of) credit losses 34,884 25,581 (55,210) Income before income taxes 259,905 262,626 269,384 Income tax expense 54,135 59,582 68,983 Preferred stock dividends 8,291 8,291 8,291 Net income available to common shareholders $197,479 $194,753 $192,110 Weighted average common shares outstanding, diluted 146,528 146,418 146,793 Net income per diluted common share $1.35 $1.33 $1.31 Condensed Income Statement Amounts may not total due to rounding.

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28 (dollars in thousands) 4Q22 3Q22 4Q21 2022 2021 Net income available to common shareholders $197,479 194,753 192,110 724,739 727,304 Subtract/add: Earnout liability adjustments — — — — 507 Add/subtract: Restructuring charges (2,372) 956 5,958 (9,690) 7,223 Add: Valuation adjustment to Visa derivative 2,500 — 2,656 6,000 2,656 Add: Loss on early extinguishment of debt — — — 677 — Subtract/add: Investment securities (gains) losses, net — — (230) — 799 Subtract/add: Tax effect of adjustments(1) (31) (228) (2,121) 733 (2,702) Adjusted net income available to common shareholders $197,576 195,481 198,373 722,459 735,787 Weighted average common shares outstanding, diluted 146,528 146,418 146,793 146,481 148,495 Net income per common share, diluted $1.35 $1.33 $1.31 $4.95 $4.90 Adjusted net income per common share, diluted $1.35 $1.34 $1.35 $4.93 $4.95 Non-GAAP Financial Measures Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 4Q22; 23.8% for 3Q22; and 25.3% for 4Q21.For 2022, it was 24.3%, and for 2021, it was 25.3%.

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29 (dollars in thousands) 4Q22 3Q22 2Q22 1Q22 4Q21 Net income $205,770 $203,044 $178,052 $171,037 $200,401 Add/subtract: Restructuring charges (2,372) 956 (1,850) (6,424) 5,958 Add: Valuation adjustment to Visa derivative 2,500 — 3,500 — 2,656 Add: Loss on early extinguishment of debt — — — 677 — Subtract/add: Investment securities (gains) losses, net — — — — (230) Subtract/add: Tax effect of adjustments(1) (31) (228) (393) 1,369 (2,121) Adjusted net income $205,867 203,772 179,309 166,659 206,664 Net income annualized $816,370 805,555 714,165 693,650 795,069 Adjusted net income annualized $816,755 808,443 719,206 675,895 819,917 Total average assets $58,963,417 58,055,979 56,536,940 56,855,898 56,911,929 Return on average assets 1.38% 1.39% 1.26% 1.22% 1.40% Adjusted return on average assets 1.39% 1.39% 1.27% 1.19% 1.44% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 4Q22; 23.8% for 3Q22, 2Q22, and 1Q22; and 25.3% for 4Q21. Non-GAAP Financial Measures, Continued

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30 (dollars in thousands) 2022 2021 Net income $757,902 760,467 Add: Earnout liability adjustments — 507 Add/subtract: Restructuring charges (9,690) 7,223 Add: Valuation adjustment to Visa derivative 6,000 2,656 Add: Loss on early extinguishment of debt 677 — Add/subtract: Investment securities losses (gains), net — 799 Subtract/add: Tax effect of adjustments(1) 733 (2,702) Adjusted net income 755,622 768,950 Total average assets 57,610,074 55,368,481 Return on average assets 1.32% 1.37% Adjusted return on average assets 1.31% 1.39% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 2022 and 25.3% for 2021. Non-GAAP Financial Measures, Continued

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31 (dollars in thousands) 4Q22 3Q22 4Q21 Net income available to common shareholders $197,479 $194,753 $192,110 Add/subtract: Restructuring charges (2,372) 956 5,958 Add: Valuation adjustment to Visa derivative 2,500 — 2,656 Add/subtract: Investment securities losses (gains), net — — (230) Subtract/add: Tax effect of adjustments(1) (31) (228) (2,121) Adjusted net income available to common shareholders $197,576 $195,481 $198,373 Adjusted net income available to common shareholders annualized $783,861 $775,550 $787,023 Add: Amortization of intangibles, tax effected, annualized 6,358 6,401 7,050 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $790,219 $781,951 $794,073 Net income available to common shareholders annualized $783,476 $772,661 $762,176 Add: Amortization of intangibles, tax effected, annualized 6,358 6,401 7,050 Net income available to common shareholders excluding amortization of intangibles annualized $789,834 $779,062 $769,226 Total average shareholders' equity less preferred stock $3,742,927 $4,141,516 $4,730,828 Subtract: Goodwill (452,390) (452,390) (452,390) Subtract: Other intangible assets, net (28,174) (30,214) (36,805) Total average tangible shareholders' equity less preferred stock $3,262,363 $3,658,912 $4,241,633 Return on average common equity 20.9% 18.7% 16.1% Adjusted return on average common equity 20.9% 18.7% 16.6% Return on average tangible common equity 24.2% 21.3% 18.1% Adjusted return on average tangible common equity 24.2% 21.4% 18.7% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 4Q22; 23.8% for 3Q22, 2Q22, and 1Q22; and 25.3% for 4Q21. Non-GAAP Financial Measures, Continued

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32 (dollars in thousands) 2022 2021 Net income available to common shareholders $724,739 $727,304 Add: Earnout liability adjustments — 507 Add/subtract: Restructuring charges (9,690) 7,223 Add: Valuation adjustment to Visa derivative 6,000 2,656 Add: Loss on early extinguishment of debt 677 — Add/subtract: Investment securities losses (gains), net — 799 Subtract/add: Tax effect of adjustments(1) $733 $(2,702) Adjusted net income available to common shareholders $722,459 $735,787 Add: Amortization of intangibles, tax effected $6,410 $7,108 Adjusted net income available to common shareholders excluding amortization of intangibles $728,869 $742,895 Net income available to common shareholders excluding amortization of intangibles $731,149 $734,412 Total average shareholders' equity less preferred stock $4,163,556 $4,674,833 Subtract: Goodwill (452,390) (452,390) Subtract: Other intangible assets, net (31,317) (40,307) Total average tangible shareholders' equity less preferred stock $3,679,849 $4,182,136 Return on average common equity 17.4% 15.6% Adjusted return on average common equity 17.4% 15.7% Return on average tangible common equity 19.9% 17.6% Adjusted return on average tangible common equity 19.8% 17.8% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.3% for 2022 and 25.3% for 2021. Non-GAAP Financial Measures, Continued

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![](snv_12312022xex993presen033.jpg)

33 (dollars in thousands) 4Q22 3Q22 4Q21 Total non-interest revenue $102,439 $104,298 $117,068 Subtract: Investment securities gains, net — — (230) Subtract/add: Fair value adjustment on non-qualified deferred compensation (1,557) 1,076 (995) Adjusted non-interest revenue $100,882 $105,374 $115,843 (dollars in thousands) 4Q22 3Q22 2Q22 1Q22 4Q21 Total non-interest expense $308,996 294,010 282,051 272,450 295,207 Subtract/add: Restructuring charges 2,372 (956) 1,850 6,424 (5,958) Subtract: Valuation adjustment to Visa derivative (2,500) — (3,500) — (2,656) Subtract: Loss on early extinguishment of debt — — — (677) — Subtract/add: Fair value adjustment on non-qualified deferred compensation (1,557) 1,076 3,240 1,295 (995) Adjusted non-interest expense $307,311 $294,130 $283,641 $279,492 $285,598 Adjusted non-interest expense $307,311 294,130 283,641 279,492 285,598 Subtract: Amortization of intangibles (2,118) (2,118) (2,118) (2,118) (2,379) Adjusted tangible non-interest expense $305,193 292,012 281,523 277,374 283,219 Net interest income $501,346 $477,919 $425,388 $392,248 $392,313 Add: Taxable equivalent (TE) adjustment 1,131 972 960 865 884 Add: Total non-interest revenue 102,439 104,298 97,266 105,334 117,068 Total TE revenue $604,916 $583,189 $523,614 $498,447 $510,265 Subtract/add: Investment securities (gains) losses, net — — — — (230) Subtract/add: Fair value adjustment on non-qualified deferred compensation (1,557) 1,076 3,240 1,295 (995) Adjusted revenue $603,359 $584,265 $526,854 $499,742 $509,040 Efficiency ratio-TE 51.1% 50.4% 53.9% 54.7% 57.9% Adjusted tangible efficiency ratio 50.6% 50.0% 53.4% 55.5% 55.6% Non-GAAP Financial Measures, Continued

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![](snv_12312022xex993presen034.jpg)

34 (dollars in thousands) 2022 2021 Total non-interest revenue $409,336 $450,066 Add/subtract: Investment securities losses (gains), net — 799 Subtract: Fair value adjustment on non-qualified deferred compensation 4,054 (2,816) Adjusted non-interest revenue $413,390 $448,049 Total non-interest expense $1,157,506 $1,099,904 Subtract: Earnout liability adjustments — (507) Subtract/add: Restructuring charges 9,690 (7,223) Subtract: Valuation adjustment to Visa derivative (6,000) (2,656) Subtract: Loss on early extinguishment of debt (677) — Subtract: Fair value adjustment on non-qualified deferred compensation 4,054 (2,816) Adjusted non-interest expense $1,164,573 $1,086,702 Adjusted non-interest expense $1,164,573 $1,086,702 Subtract: Amortization of intangibles (8,472) (9,516) Adjusted tangible non-interest expense $1,156,101 $1,077,186 Net interest income 1,796,900 1,532,947 Add: Taxable equivalent adjustment 3,927 3,185 Add: Total non-interest revenue 409,336 450,066 Total TE revenue $2,210,163 $1,986,198 Add/subtract: Investment securities losses (gains), net — 799 Subtract: Fair value adjustment on non-qualified deferred compensation 4,054 (2,816) Adjusted revenue $2,214,217 $1,984,181 Efficiency ratio-TE 52.4% 55.4% Adjusted tangible efficiency ratio 52.2% 54.3% Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued

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![](snv_12312022xex993presen035.jpg)

35 ($ in thousands) 2022 2021 Net interest income $1,796,900 $1,532,947 Add: Total non-interest revenue 409,336 450,066 Subtract: Total non-interest expense (1,157,506) (1,099,904) Pre-provision net revenue (PPNR) $1,048,730 $883,109 Net interest income $1,796,900 $1,532,947 Add: Taxable equivalent adjustment 3,927 3,185 TE net interest income 1,800,827 1,536,132 Add: Total non-interest revenue $409,336 $450,066 Total TE revenue 2,210,163 1,986,198 Subtract/add: Investment securities (gains) losses, net — 799 Subtract/add: Fair value adjustment on non-qualified deferred compensation 4,054 (2,816) Adjusted revenue $2,214,217 $1,984,181 Subtract: PPP revenue (13,866) (94,733) Adjusted revenue ex. PPP revenue $2,200,351 $1,889,448 Total non-interest expense $1,157,506 $1,099,904 Subtract: Earnout liability adjustments — (507) Subtract: Loss on early extinguishment of debt (677) — Subtract: Restructuring charges 9,690 (7,223) Subtract: Valuation adjustment to Visa derivative (6,000) (2,656) Subtract/add: Fair value adjustment on non-qualified deferred compensation 4,054 (2,816) Adjusted non-interest expense $1,164,573 $1,086,702 Adjusted revenue ex. PPP revenue $2,200,351 $1,889,448 Subtract: Adjusted non-interest expense (1,164,573) (1,086,702) Adjusted PPNR ex. PPP revenue $1,035,778 $802,746 Adjusted revenue $2,214,217 $1,984,181 Subtract: Adjusted non-interest expense (1,164,573) (1,086,702) Adjusted PPNR $1,049,644 $897,479 Non-GAAP Financial Measures, Continued Amounts may not total due to rounding.

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36 (dollars in thousands) December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 Total assets $59,731,378 $58,639,522 $57,382,745 $56,419,549 $57,317,226 Subtract: Goodwill (452,390) (452,390) (452,390) (452,390) (452,390) Subtract: Other intangible assets, net (27,124) (29,242) (31,360) (33,478) (35,596) Tangible assets $59,251,864 $58,157,890 $56,898,995 $55,933,681 $56,829,240 Total shareholders' equity $4,475,801 $4,229,715 $4,584,438 $4,824,635 $5,296,800 Subtract: Goodwill (452,390) (452,390) (452,390) (452,390) (452,390) Subtract: Other intangible assets, net (27,124) (29,242) (31,360) (33,478) (35,596) Subtract: Preferred stock, no par value (537,145) (537,145) (537,145) (537,145) (537,145) Tangible common equity $3,459,142 $3,210,938 $3,563,543 $3,801,622 $4,271,669 Total shareholders' equity to total assets ratio 7.49% 7.21% 7.99% 8.55% 9.24% Tangible common equity ratio 5.84% 5.52% 6.26% 6.80% 7.52% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding.

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