SYNOVUS FINANCIAL CORP (Form: 8-K, Received: 04/16/2025 16:41:16)

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)


Georgia	1-10312	58-1134883
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

33 W. 14th Street, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(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:

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

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

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

☐ 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:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $1.00 Par Value	SNV	New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D	SNV-PrD	New York Stock Exchange
Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E	SNV-PrE	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. ☐


Item 2.02			Results of Operations and Financial Condition

			On April 16, 2025, Synovus Financial Corp. (the "Company") issued a press release announcing the Company’s financial results for the three month period ended March 31, 2025.

			Pursuant to General Instruction F to Current Report on Form 8-K, the press release is attached to this Current Report as Exhibit 99.1 and only those portions of the press release related to the historical results of operations of the Company for the three month period ended March 31, 2025 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 Exhibit 99.1 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 Exhibit 99.1 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.



Item 7.01			Regulation FD Disclosure

			On April 16, 2025, the Company made available the 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 April 17, 2025.

			The information contained in this Item 7.01 of this Current Report, including the information set forth in the Slide Presentation filed as Exhibit 99.2 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 Exhibit 99.2 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.



Item 9.01	Financial Statements and Exhibits

	(d)	Exhibits

	Exhibit No.	Description

	99.1	Synovus press release dated April 16, 2025

	99.2	Slide presentation prepared for use with the press release

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: April 16, 2025			By: /s/ Allan E. Kamensky
			Name: Allan E. Kamensky
			Title: Executive Vice President and General Counsel


Media Contact						Investor Contact
Audria Belton						Jennifer H. Demba, CFA
Media Relations						Investor Relations
media@synovus.com						investorrelations@synovus.com

Synovus announces earnings for first quarter 2025

Diluted earnings per share of $1.30 versus $0.78 in 1Q24

Adjusted diluted earnings per share of $1.30 versus $0.79 in 1Q24

COLUMBUS, Ga., April 16, 2025 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended March 31, 2025.

"In the first quarter, we delivered 67% year-over-year earnings per share growth, fueled by net interest margin expansion, a lower provision for credit losses and excellent expense management. We also continued to build momentum, as funded loan production was at the highest level since the fourth quarter of 2022, and our credit losses declined to the lowest level in more than three years. As the quarter progressed, borrowers and investors grew more cautious amid concerns surrounding the sustainability of consumer spending and potential impacts from higher tariffs and federal government layoffs. While the economic outlook and interest rate environment remains uncertain, we’re confident in our trajectory and the strength and resilience of our balance sheet and business model, as evidenced by our updated guidance for the year," said Synovus Chairman, CEO and President Kevin Blair.

First Quarter 2025 Highlights

•Net income available to common shareholders was $183.7 million, or $1.30 per diluted share, compared to $178.8 million or $1.25 in fourth quarter 2024 and $114.8 million or $0.78 in first quarter 2024.

•Adjusted net income available to common shareholders was $184.4 million, or $1.30 per diluted share, compared to $178.3 million or $1.25 in fourth quarter 2024 and $116.0 million or $0.79 in first quarter 2024.

•Pre-provision net revenue was $262.8 million, which fell 3% from fourth quarter 2024 but was up 22% from first quarter 2024. Adjusted pre-provision net revenue of $265.3 million declined 2% from fourth quarter 2024 and increased $47.5 million, or 22%, compared to first quarter 2024. Year-over-year growth was the result of a healthy increase in net interest income and a decline in non-interest expense.

•Net interest income was flat sequentially in the first quarter and increased $35.5 million, or 8%, compared to first quarter 2024. On a linked quarter basis, the net interest margin expanded 7 basis points to 3.35% as a result of effective deposit repricing, a lower cash position, hedge maturities and a stable Fed Funds environment, which more than offset a full quarter impact of the $500 million senior debt issuance in fourth quarter 2024.

•Period-end loans increased $39.7 million from fourth quarter 2024 as stronger loan production and core commercial lending growth was mostly offset by elevated loan payoffs and paydowns.

•Period-end core deposits (excluding brokered deposits) were $46.0 billion, a decline of $223.8 million sequentially. Seasonality in middle market deposits drove the majority of the decline. Average deposit costs declined 20 basis points sequentially to 2.26%.

•Non-interest revenue of $116.5 million declined $9.1 million sequentially and fell $2.4 million, or 2%, compared to first quarter 2024. Adjusted non-interest revenue of $117.3 million declined $7.3 million, or 6%, sequentially and increased $693 thousand, or 1%, compared to first quarter 2024. The sequential decline in adjusted non-interest revenue was largely from lower capital markets income and seasonally weaker commercial sponsorship fees. The year-over-year growth was primarily attributable to higher core banking fees and capital markets income.

•Non-interest expense and adjusted non-interest expense were $308.0 million and $307.9 million, respectively, both of which were relatively stable from the prior quarter. Non-interest expense declined 5% from first quarter 2024. Adjusted non-interest expense fell 3% year over year due to disciplined expense control and a $12.2 million decline in the FDIC special assessment. Excluding the FDIC special assessment, adjusted non-interest expense was flat year over year.

•Provision for credit losses of $10.9 million declined 67% sequentially and fell 80% compared to $54.0 million in first quarter 2024. The allowance for credit losses ratio (to loans) of 1.24% was down from 1.27% in the prior quarter, while our coverage of non-performing loans improved to 185% in first quarter 2025 from 174% in the prior quarter.

•The non-performing loan and asset ratios improved to 0.67% compared to 0.73% in fourth quarter 2024, while the net charge-off ratio for first quarter 2025 was 0.20%, down from 0.26% in the prior quarter. Total past due loans were 0.22% of total loans outstanding.

•The preliminary Common Equity Tier 1 ratio ended first quarter 2025 at 10.75% as core earnings accretion offset the impact of $120 million in common stock repurchases.

First Quarter Summary


	Reported									Adjusted
(dollars in thousands)	1Q25			4Q24			1Q24			1Q25			4Q24			1Q24
Net income available to common shareholders	$	183,691		$	178,848		$	114,822		$	184,380		$	178,331		$	115,973
Diluted earnings per share	1.30			1.25			0.78			1.30			1.25			0.79
Total revenue	570,850			580,580			537,734			573,243			581,054			536,745
Total loans	42,648,738			42,609,028			43,309,877			NA			NA			NA
Total deposits	50,843,061			51,095,359			50,580,242			NA			NA			NA
Return on avg assets(1)	1.32		%	1.25		%	0.85		%	1.32		%	1.25		%	0.85		%
Return on avg common equity(1)	15.48			14.75			10.17			15.54			14.71			10.27
Return on avg tangible common equity(1)	17.52			16.72			11.71			17.58			16.67			11.83
Net interest margin(2)	3.35			3.28			3.04			NA			NA			NA
Efficiency ratio-TE(2)(3)	53.81			53.15			59.87			53.26			52.69			58.88
NCO ratio-QTD	0.20			0.26			0.41			NA			NA			NA
NPA ratio	0.67			0.73			0.86			NA			NA			NA
Common Equity Tier 1 capital (CET1) ratio(4)	10.75			10.84			10.38			NA			NA			NA

(2) Taxable equivalent

(3) Adjusted tangible efficiency ratio

(4) Current period ratio preliminary

Balance Sheet


Loans*

(dollars in millions)	1Q25		4Q24		Linked Quarter Change		Linked Quarter % Change		1Q24		Year/Year Change		Year/Year % Change
Commercial & industrial	$	22,313.3	$	22,331.1	$	(17.8)	—	%	$	22,731.3	$	(418.0)	(2)	%
Commercial real estate	12,071.6		12,014.6		56.9		—		12,194.0		(122.5)		(1)
Consumer	8,263.8		8,263.3		0.6		—		8,384.6		(120.7)		(1)
Total loans	$	42,648.7	$	42,609.0	$	39.7	—	%	$	43,309.9	$	(661.2)	(2)	%

*Amounts may not total due to rounding


Deposits*

(dollars in millions)	1Q25		4Q24		Linked Quarter Change		Linked Quarter % Change		1Q24		Year/Year Change		Year/Year % Change
Non-interest-bearing DDA	$	11,095.8	$	10,974.6	$	121.2	1	%	$	11,515.4	$	(419.6)	(4)	%
Interest-bearing DDA	7,272.0		7,199.7		72.4		1		6,478.8		793.2		12
Money market	11,424.7		11,407.4		17.2		—		10,712.7		711.9		7
Savings	1,000.4		971.1		29.3		3		1,045.1		(44.7)		(4)
Public funds	8,125.0		7,987.5		137.5		2		7,270.4		854.6		12
Time deposits	7,078.5		7,679.9		(601.4)		(8)		7,838.9		(760.4)		(10)
Brokered deposits	4,846.7		4,875.2		(28.5)		(1)		5,718.9		(872.2)		(15)
Total deposits	$	50,843.1	$	51,095.4	$	(252.3)	—	%	$	50,580.2	$	262.8	1	%

*Amounts may not total due to rounding


Income Statement Summary**

(in thousands, except per share data)	1Q25		4Q24		Linked Quarter Change		Linked Quarter % Change		1Q24		Year/Year Change		Year/Year % Change
Net interest income	$	454,384	$	454,993	$	(609)	—	%	$	418,846	$	35,538	8	%
Non-interest revenue	116,466		125,587		(9,121)		(7)		118,888		(2,422)		(2)
Non-interest expense	308,034		309,311		(1,277)		—		322,741		(14,707)		(5)
Provision for (reversal of) credit losses	10,921		32,867		(21,946)		(67)		53,980		(43,059)		(80)
Income before taxes	$	251,895	$	238,402	$	13,493	6	%	$	161,013	$	90,882	56	%
Income tax expense (benefit)	57,023		49,025		7,998		16		36,943		20,080		54
Net income	194,872		189,377		5,495		3		124,070		70,802		57
Less: Net income (loss) attributable to noncontrolling interest	(142)		(1,049)		907		86		(437)		295		68
Net income attributable to Synovus Financial Corp.	195,014		190,426		4,588		2		124,507		70,507		57
Less: Preferred stock dividends	11,323		11,578		(255)		(2)		9,685		1,638		17
Net income available to common shareholders	$	183,691	$	178,848	$	4,843	3	%	$	114,822	$	68,869	60	%
Weighted average common shares outstanding, diluted	141,775		142,694		(919)		(1)	%	147,122		(5,347)		(4)	%
Diluted earnings per share	$	1.30	$	1.25	$	0.05	4		$	0.78	$	0.52	67
Adjusted diluted earnings per share	1.30		1.25		0.05		4		0.79		0.51		65
Effective tax rate	22.64%		20.56%						22.94%

** Amounts may not total due to rounding

First Quarter Earnings Conference Call

Synovus will host an earnings highlights conference call with an accompanying slide presentation at 8:30 a.m. ET on April 17, 2025. The earnings call can be accessed with the listen-only dial-in phone number: 833-470-1428 (code: 659807). Shareholders and other interested parties may also listen to this conference call via simultaneous internet broadcast. For a link to the webcast, go to investor.synovus.com/event. The replay will be archived for at least 12 months and will be available approximately one hour 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 wealth services, treasury management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. As of March 31, 2025, Synovus has 244 branches in Georgia, Alabama, Florida, South Carolina and Tennessee. Synovus is a Great Place to Work-Certified Company. Learn more about Synovus at synovus.com.

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 growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; 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 Dec. 31, 2024, 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.


Synovus

	INCOME STATEMENT DATA
	(Unaudited)

	(Dollars in thousands, except per share data)	2025			2024				First Quarter

		First Quarter			Fourth Quarter	Third Quarter	Second Quarter	First Quarter	'25 vs '24
									% Change

	Interest income	$	766,765		799,130	810,507	801,242	782,710	(2)	%
	Interest expense	312,381			344,137	369,767	366,244	363,864	(14)

	Net interest income	454,384			454,993	440,740	434,998	418,846	8
	Provision for (reversal of) credit losses	10,921			32,867	23,434	26,404	53,980	(80)

	Net interest income after provision for credit losses	443,463			422,126	417,306	408,594	364,866	22

	Non-interest revenue:
	Service charges on deposit accounts	23,114			23,244	23,683	22,907	21,813	6
	Fiduciary and asset management fees	19,917			21,373	19,714	19,728	19,013	5
	Card fees	21,227			19,577	18,439	19,418	19,486	9
	Brokerage revenue	20,359			20,907	20,810	20,457	22,707	(10)
	Mortgage banking income	3,338			2,665	4,033	3,944	3,418	(2)
	Capital markets income	6,941			12,070	10,284	15,077	6,627	5
	Income from bank-owned life insurance	8,084			10,543	8,442	8,097	7,347	10
	Investment securities gains (losses), net	—			—	—	(256,660)	—	nm

	Other non-interest revenue	13,486			15,208	18,575	18,181	18,477	(27)

	Total non-interest revenue	116,466			125,587	123,980	(128,851)	118,888	(2)

	Non-interest expense:
	Salaries and other personnel expense	185,510			184,725	184,814	179,407	188,521	(2)
	Net occupancy, equipment, and software expense	48,652			47,251	46,977	46,415	46,808	4
	Third-party processing and other services	21,874			22,158	21,552	21,783	20,258	8
	Professional fees	9,779			11,949	10,854	15,655	7,631	28
	FDIC insurance and other regulatory fees	8,544			8,227	7,382	6,493	23,819	(64)
	Restructuring charges (reversals)	(1,292)			37	1,219	(658)	1,524	nm

	Other operating expenses	34,967			34,964	40,892	32,706	34,180	2

	Total non-interest expense	308,034			309,311	313,690	301,801	322,741	(5)

	Income (loss) before income taxes	251,895			238,402	227,596	(22,058)	161,013	56
	Income tax expense (benefit)	57,023			49,025	46,912	(7,378)	36,943	54

	Net income (loss)	194,872			189,377	180,684	(14,680)	124,070	57

	Less: Net income (loss) attributable to noncontrolling interest	(142)			(1,049)	(871)	(652)	(437)	68

	Net income (loss) attributable to Synovus Financial Corp.	195,014			190,426	181,555	(14,028)	124,507	57

	Less: Preferred stock dividends	11,323			11,578	11,927	9,713	9,685	17

	Net income (loss) available to common shareholders	$	183,691		178,848	169,628	(23,741)	114,822	60	%

	Net income (loss) per common share, basic	$	1.31		1.26	1.19	(0.16)	0.78	68	%

	Net income (loss) per common share, diluted	1.30			1.25	1.18	(0.16)	0.78	67

	Cash dividends declared per common share	0.39			0.38	0.38	0.38	0.38	3

	Return on average assets *	1.32		%	1.25	1.21	(0.10)	0.85	47	bps
	Return on average common equity *	15.48			14.75	14.38	(2.14)	10.17	nm

	Weighted average common shares outstanding, basic	140,684			141,555	143,144	145,565	146,430	(4)	%
	Weighted average common shares outstanding, diluted	141,775			142,694	143,979	145,565	147,122	(4)

	nm - not meaningful
	bps - basis points
	* - ratios are annualized
	Amounts may not total due to rounding


Synovus


	BALANCE SHEET DATA	March 31, 2025		December 31, 2024		March 31, 2024

	(Unaudited)

	(In thousands, except share data)

	ASSETS
	Interest-earning deposits with banks and other cash and cash equivalents	$	2,675,110	$	2,977,667	$	2,379,778
	Federal funds sold and securities purchased under resale agreements	31,123		16,320		43,722
	Cash, cash equivalents, and restricted cash	2,706,233		2,993,987		2,423,500

	Investment securities held to maturity	2,546,741		2,581,469		—
	Investment securities available for sale	7,840,385		7,551,018		9,694,515
	Loans held for sale (includes $34,859, $33,448 and $36,698 measured at fair value, respectively)	121,669		90,111		130,586

	Loans, net of deferred fees and costs	42,648,738		42,609,028		43,309,877
	Allowance for loan losses	(478,207)		(486,845)		(492,661)
	Loans, net	42,170,531		42,122,183		42,817,216

	Cash surrender value of bank-owned life insurance	1,148,075		1,139,988		1,119,379
	Premises, equipment, and software, net	381,925		383,724		375,315
	Goodwill	480,440		480,440		480,440
	Other intangible assets, net	31,691		34,318		43,021
	Other assets	2,911,431		2,856,406		2,751,148
	Total assets	$	60,339,121	$	60,233,644	$	59,835,120

	LIABILITIES AND EQUITY
	Liabilities:
	Deposits:
	Non-interest-bearing deposits	$	11,543,123	$	11,596,119	$	12,042,353
	Interest-bearing deposits	39,299,938		39,499,240		38,537,889

	Total deposits	50,843,061		51,095,359		50,580,242

	Federal funds purchased and securities sold under repurchase agreements	83,002		131,728		128,244
	Other short-term borrowings	—		—		252,469
	Long-term debt	2,096,918		1,733,109		2,031,735
	Other liabilities	1,903,837		2,007,197		1,800,794
	Total liabilities	54,926,818		54,967,393		54,793,484

	Equity:
	Shareholders' equity:
	Preferred stock - no par value. Authorized 100,000,000 shares; issued 22,000,000	537,145		537,145		537,145
	Common stock - $1.00 par value. Authorized 342,857,142 shares; issued 172,659,603, 172,185,507 and 171,873,265 respectively; outstanding 139,214,132, 141,165,908 and 146,418,407 respectively	172,660		172,186		171,873
	Additional paid-in capital	3,983,395		3,986,729		3,957,576
	Treasury stock, at cost; 33,445,471, 31,019,599, and 25,454,858 shares, respectively	(1,337,676)		(1,216,827)		(974,499)
	Accumulated other comprehensive income (loss), net	(826,718)		(970,765)		(1,248,194)
	Retained earnings	2,861,945		2,736,089		2,574,017
	Total Synovus Financial Corp. shareholders’ equity	5,390,751		5,244,557		5,017,918
	Noncontrolling interest in subsidiary	21,552		21,694		23,718
	Total equity	5,412,303		5,266,251		5,041,636
	Total liabilities and equity	$	60,339,121	$	60,233,644	$	59,835,120


Synovus
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	First Quarter 2025						Fourth Quarter 2024						First Quarter 2024
(dollars in thousands)	Average Balance		Interest		Yield/ Rate		Average Balance		Interest		Yield/ Rate		Average Balance		Interest		Yield/ Rate
Assets
Interest earning assets:
Commercial loans (1) (2)	$	34,262,226	$	543,485	6.43	%	$	34,278,042	$	569,759	6.61	%	$	34,943,797	$	583,459	6.72	%
Consumer loans (1)	8,244,161		106,344		5.19		8,258,712		107,507		5.19		8,434,105		109,566		5.21
Less: Allowance for loan losses	(480,023)		—		—		(479,980)		—		—		(481,146)		—		—
Loans, net	42,026,364		649,829		6.26		42,056,774		677,266		6.41		42,896,756		693,025		6.49
Total investment securities(3)	10,759,512		93,352		3.47		10,623,943		91,038		3.43		11,148,242		71,906		2.58
Interest-earning deposits with other banks	2,054,292		22,172		4.32		2,437,414		28,726		4.61		1,182,412		15,907		5.33
Federal funds sold and securities purchased under resale agreements	20,162		131		2.60		21,177		210		3.88		35,678		266		2.95
Mortgage loans held for sale	24,267		373		6.15		30,483		520		6.83		29,773		495		6.65
Other loans held for sale	69,049		384		2.23		74,019		404		2.13		18,465		83		1.77
Other earning assets(4)	178,344		2,101		4.71		178,676		2,396		5.37		199,392		2,338		4.69
Total interest earning assets	55,131,990		768,342		5.65	%	55,422,486		800,560		5.75	%	55,510,718		784,020		5.68	%
Cash and due from banks	499,201						512,178						532,624
Premises and equipment	384,258						382,784						370,376
Other real estate	261						386						61
Cash surrender value of bank-owned life insurance	1,142,943						1,135,952						1,114,703
Other assets(5)	2,717,893						2,720,830						1,493,749
Total assets	$	59,876,546					$	60,174,616					$	59,022,231
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	11,613,495	62,811		2.19	%	$	11,298,352	67,470		2.38	%	$	10,590,340	65,415		2.48	%
Money market accounts	13,900,933		92,897		2.71		13,768,434		101,063		2.92		12,826,385		103,129		3.23
Savings deposits	994,127		320		0.13		986,522		316		0.13		1,057,087		287		0.11
Time deposits	7,777,767		71,055		3.71		8,251,686		85,426		4.12		7,902,850		86,493		4.40
Brokered deposits	4,905,909		55,242		4.57		5,012,655		61,924		4.91		5,737,445		77,342		5.42
Federal funds purchased and securities sold under repurchase agreements	75,252		208		1.11		113,681		322		1.11		113,558		648		2.26
Other short-term borrowings	—		—		—		—		—		—		71,775		955		5.26
Long-term debt	1,773,203		29,848		6.74		1,613,246		27,616		6.84		1,764,740		29,595		6.69
Total interest-bearing liabilities	41,040,686		312,381		3.09	%	41,044,576		344,137		3.34	%	40,064,180		363,864		3.65	%
Non-interest-bearing demand deposits	11,406,048						11,783,834						12,071,670
Other liabilities	2,058,727						1,963,298						1,782,659
Synovus Financial Corp. shareholders' equity	5,371,085						5,382,908						5,103,722


Total liabilities and equity	$	59,876,546					$	60,174,616					$	59,022,231
Net interest income and net interest margin, taxable equivalent (6)			$	455,961	3.35	%			$	456,423	3.28	%			$	420,156	3.04	%
Less: taxable-equivalent adjustment			1,577						1,430						1,310
Net interest income			$	454,384					$	454,993					$	418,846

(1)Average loans are shown net of unearned income. NPLs are included. Interest income includes fees as follows: First Quarter 2025 — $13.2 million, Fourth Quarter 2024 — $13.7 million, and First Quarter 2024 — $10.6 million.

(2)Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans to a taxable-equivalent basis.

(3)Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.

(4)Includes trading account assets and FHLB and Federal Reserve Bank Stock.

(5)Includes average net unrealized gains (losses) on investment securities available for sale of $(473.3) million, $(391.6) million, and $(1.36) billion for the First Quarter 2025, Fourth Quarter 2024, and First Quarter 2024, respectively.

(6)The net interest margin is calculated by dividing annualized net interest income- TE by average total interest earning assets.


Synovus
LOANS OUTSTANDING BY TYPE
(Unaudited)	Total Loans		Total Loans		Linked Quarter		Total Loans		Year/Year
(Dollars in thousands)

Loan Type	March 31, 2025		December 31, 2024		% Change		March 31, 2024		% Change
Commercial, Financial, and Agricultural	$	14,611,712	$	14,498,992	1	%	$	14,616,902	—	%
Owner-Occupied	7,701,627		7,832,137		(2)		8,114,394		(5)
Total Commercial & Industrial	22,313,339		22,331,129		—		22,731,296		(2)
Multi-Family	4,182,886		4,185,545		—		4,199,435		—
Hotels	1,831,937		1,769,384		4		1,790,505		2
Office Buildings	1,724,113		1,743,329		(1)		1,852,208		(7)
Shopping Centers	1,268,683		1,273,439		—		1,302,754		(3)
Warehouses	848,530		846,025		—		871,662		(3)
Other Investment Property	1,409,752		1,363,482		3		1,294,317		9
Total Investment Properties	11,265,901		11,181,204		1		11,310,881		—
1-4 Family Construction	189,027		212,226		(11)		194,146		(3)
1-4 Family Investment Mortgage	324,411		333,692		(3)		385,992		(16)
Total 1-4 Family Properties	513,438		545,918		(6)		580,138		(11)
Commercial Development	68,227		55,467		23		66,000		3
Residential Development	75,240		77,581		(3)		72,024		4
Land Acquisition	148,752		154,449		(4)		164,976		(10)
Land and Development	292,219		287,497		2		303,000		(4)
Total Commercial Real Estate	12,071,558		12,014,619		—		12,194,019		(1)
Consumer Mortgages	5,269,505		5,288,776		—		5,384,602		(2)
Home Equity	1,839,185		1,831,287		—		1,804,348		2
Credit Cards	178,522		185,871		(4)		180,663		(1)
Other Consumer Loans	976,629		957,346		2		1,014,949		(4)
Total Consumer	8,263,841		8,263,280		—		8,384,562		(1)
Total	$	42,648,738	$	42,609,028	—	%	$	43,309,877	(2)	%

NON-PERFORMING LOANS COMPOSITION
(Unaudited)	Total Non-performing Loans		Total Non-performing Loans		Linked Quarter		Total Non-performing Loans		Year/Year
(Dollars in thousands)

Loan Type	March 31, 2025		December 31, 2024		% Change		March 31, 2024		% Change
Commercial, Financial, and Agricultural	$	125,570	$	122,874	2	%	$	192,693	(35)	%
Owner-Occupied	18,226		34,380		(47)		80,218		(77)
Total Commercial & Industrial	143,796		157,254		(9)		272,911		(47)
Multi-Family	112		112		—		2,077		(95)
Office Buildings	64,423		72,430		(11)		7,630		nm
Shopping Centers	511		515		(1)		547		(7)
Warehouses	145		153		(5)		188		(23)
Other Investment Property	885		820		8		1,784		(50)
Total Investment Properties	66,076		74,030		(11)		12,226		440
1-4 Family Construction	145		—		nm		—		nm
1-4 Family Investment Mortgage	2,432		2,385		2		2,300		6
Total 1-4 Family Properties	2,577		2,385		8		2,300		12
Commercial Development	48		—		nm		—		nm
Residential Development	—		—		nm		478		(100)
Land Acquisition	1,363		1,389		(2)		540		152
Land and Development	1,411		1,389		2		1,018		39
Total Commercial Real Estate	70,064		77,804		(10)		15,544		351
Consumer Mortgages	48,859		50,834		(4)		42,563		15
Home Equity	18,302		17,365		5		12,451		47
Other Consumer Loans	5,608		5,907		(5)		6,981		(20)
Total Consumer	72,769		74,106		(2)		61,995		17
Total	$	286,629	$	309,164	(7)	%	$	350,450	(18)	%


Synovus

	CREDIT QUALITY DATA
	(Unaudited)
	(Dollars in thousands)	2025			2024					First Quarter

		First			Fourth	Third		Second	First	'25 vs '24
		Quarter			Quarter	Quarter		Quarter	Quarter	% Change

	Non-performing Loans (NPLs)	$	286,629		309,164	312,964		256,106	350,450	(18)	%

	Other Real Estate and Other Assets	563			385	386		823	21,210	(97)

	Non-performing Assets (NPAs)	287,192			309,549	313,350		256,929	371,660	(23)

	Allowance for Loan Losses (ALL)	478,207			486,845	484,985		485,101	492,661	(3)
	Reserve for Unfunded Commitments	50,655			52,462	49,556		53,058	53,579	(5)

	Allowance for Credit Losses (ACL)	528,862			539,307	534,541		538,159	546,240	(3)

	Net Charge-Offs - Quarter	21,366			28,101	27,052		34,485	44,356
	Net Charge-Offs - YTD	21,366			133,994	105,893		78,841	44,356
	Net Charge-Offs / Average Loans - Quarter (1)	0.20		%	0.26	0.25		0.32	0.41
	Net Charge-Offs / Average Loans - YTD (1)	0.20			0.31	0.33		0.36	0.41
	NPLs / Loans	0.67			0.73	0.73		0.59	0.81
	NPAs / Loans, ORE and specific other assets	0.67			0.73	0.73		0.60	0.86
	ACL/Loans	1.24			1.27	1.24		1.25	1.26
	ALL/Loans	1.12			1.14	1.12		1.13	1.14

	ACL/NPLs	184.51			174.44	170.80		210.13	155.87
	ALL/NPLs	166.84			157.47	154.96		189.41	140.58

	Past Due Loans over 90 days and Still Accruing	$	40,886		48,592	4,359		4,460	3,748	nm
	As a Percentage of Loans Outstanding	0.10		%	0.11	0.01		0.01	0.01

	Total Past Due Loans and Still Accruing	$	93,493		108,878	97,229		129,759	54,814	71
	As a Percentage of Loans Outstanding	0.22		%	0.26	0.23		0.30	0.13

	(1) Ratio is annualized.





	SELECTED CAPITAL INFORMATION (1)
	(Unaudited)
	(Dollars in thousands)
		March 31, 2025			December 31, 2024	March 31, 2024


	Common Equity Tier 1 Capital Ratio	10.75		%	10.84	10.38
	Tier 1 Capital Ratio	11.87			11.96	11.45
	Total Risk-Based Capital Ratio	13.65			13.81	13.24	(2)
	Tier 1 Leverage Ratio	9.56			9.55	9.62
	Total Synovus Financial Corp. shareholders' equity as a Percentage of Total Assets	8.93			8.71	8.39
	Tangible Common Equity Ratio (3)	7.26			7.02	6.67
	Book Value Per Common Share (4)	$	34.86		33.35	30.60
	Tangible Book Value Per Common Share (5)	31.19			29.70	27.03

	(1) Current quarter regulatory capital information is preliminary.
	(2) As amended.
	(3) See "Non-GAAP Financial Measures" for applicable reconciliation.

	(4) Book Value Per Common Share consists of Total Synovus Financial Corp. shareholders’ equity less Preferred Stock divided by total common shares outstanding.
	(5) Tangible Book Value Per Common Share consists of Total Synovus Financial Corp. shareholders’ equity less Preferred Stock and less the carrying value of goodwill and other intangible assets divided by total common shares outstanding.

Non-GAAP Financial Measures

The measures entitled adjusted non-interest revenue, non-interest expense; adjusted revenue taxable equivalent (TE); adjusted tangible efficiency ratio; adjusted pre-provision net revenue (PPNR); adjusted return on average assets; adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; and tangible common equity ratio are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are total non-interest revenue; total non-interest expense; total revenue; efficiency ratio-TE; PPNR; return on average assets; net income available to common shareholders; diluted earnings per share; return on average common equity; and the ratio of total Synovus Financial Corp. shareholders' equity to total assets, 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 non-interest revenue and adjusted revenue (TE) are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on non-qualified deferred compensation and other items not indicative of ongoing operations that could impact period-to-period comparisons. 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 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. 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. The tangible common equity ratio is used by stakeholders to assess our capital position. The computations of these measures are set forth in the tables below.


Reconciliation of Non-GAAP Financial Measures

(dollars in thousands)	1Q25		4Q24		1Q24

Adjusted non-interest revenue
Total non-interest revenue	$	116,466	$	125,587	$	118,888



Valuation adjustment on GLOBALT earnout	—		(719)		—
Fair value adjustment on non-qualified deferred compensation	816		(237)		(2,299)
Adjusted non-interest revenue	$	117,282	$	124,631	$	116,589

Adjusted non-interest expense
Total non-interest expense	$	308,034	$	309,311	$	322,741



Restructuring (charges) reversals	1,292		(37)		(1,524)
Valuation adjustment to Visa derivative	(2,200)		—		—
Fair value adjustment on non-qualified deferred compensation	816		(237)		(2,299)
Adjusted non-interest expense	$	307,942	$	309,037	$	318,918


Reconciliation of Non-GAAP Financial Measures, continued

(dollars in thousands)	1Q25			4Q24			1Q24
Adjusted revenue (TE) and tangible efficiency ratio
Adjusted non-interest expense	$	307,942		$	309,037		$	318,918
Amortization of intangibles	(2,627)			(2,888)			(2,907)
Adjusted tangible non-interest expense	$	305,315		$	306,149		$	316,011

Net interest income	$	454,384		$	454,993		$	418,846
Tax equivalent adjustment	1,577			1,430			1,310
Net interest income (TE)	455,961			456,423			420,156

Net interest income	$	454,384		$	454,993		$	418,846
Total non-interest revenue	116,466			125,587			118,888
Total revenue	$	570,850		$	580,580		$	537,734
Tax equivalent adjustment	1,577			1,430			1,310
Total TE revenue	572,427			582,010			539,044
Valuation adjustment on GLOBALT earnout	—			(719)			—



Fair value adjustment on non-qualified deferred compensation	816			(237)			(2,299)
Adjusted revenue (TE)	$	573,243		$	581,054		$	536,745
Efficiency ratio-TE	53.81		%	53.15		%	59.87		%
Adjusted tangible efficiency ratio	53.26			52.69			58.88

Adjusted pre-provision net revenue
Net interest income	$	454,384		$	454,993		$	418,846
Total non-interest revenue	116,466			125,587			118,888
Total non-interest expense	(308,034)			(309,311)			(322,741)
Pre-provision net revenue (PPNR)	$	262,816		$	271,269		$	214,993

Adjusted revenue (TE)	$	573,243		$	581,054		$	536,745
Adjusted non-interest expense	(307,942)			(309,037)			(318,918)
Adjusted PPNR	$	265,301		$	272,017		$	217,827


Reconciliation of Non-GAAP Financial Measures, continued

(dollars in thousands)	1Q25			4Q24			1Q24
Adjusted return on average assets (annualized)
Net income	$	194,872		$	189,377		$	124,070





Valuation adjustment on GLOBALT earnout	—			(719)			—
Restructuring charges (reversals)	(1,292)			37			1,524
Valuation adjustment to Visa derivative	2,200			—			—

Tax effect of adjustments(1)	(219)			165			(373)
Adjusted net income	$	195,561		$	188,860		$	125,221
Net income annualized	$	790,314		$	753,391		$	499,007
Adjusted net income annualized	$	793,109		$	751,334		$	503,636
Total average assets	$	59,876,546		$	60,174,616		$	59,022,231
Return on average assets (annualized)	1.32		%	1.25		%	0.85		%
Adjusted return on average assets (annualized)	1.32			1.25			0.85




Adjusted net income available to common shareholders and adjusted diluted earnings per share
Net income available to common shareholders	$	183,691		$	178,848		$	114,822


Valuation adjustment on GLOBALT earnout	—			(719)			—



Restructuring charges (reversals)	(1,292)			37			1,524
Valuation adjustment to Visa derivative	2,200			—			—

Tax effect of adjustments(1)	(219)			165			(373)
Adjusted net income available to common shareholders	$	184,380		$	178,331		$	115,973
Weighted average common shares outstanding, diluted	141,775			142,694			147,122
Diluted earnings per share	$	1.30		$	1.25		$	0.78
Adjusted diluted earnings per share	1.30			1.25			0.79
(1) An assumed marginal tax rate of 24.2% for 1Q25 and 4Q24 and 24.5% for 1Q24 was applied.


Reconciliation of Non-GAAP Financial Measures, continued

(dollars in thousands)	1Q25			4Q24			1Q24
Adjusted return on average common equity, return on average tangible common equity, and adjusted return on average tangible common equity (annualized)
Net income available to common shareholders	$	183,691		$	178,848		$	114,822





Valuation adjustment on GLOBALT earnout	—			(719)			—
Restructuring charges (reversals)	(1,292)			37			1,524
Valuation adjustment to Visa derivative	2,200			—			—

Tax effect of adjustments(1)	(219)			165			(373)
Adjusted net income available to common shareholders	$	184,380		$	178,331		$	115,973

Adjusted net income available to common shareholders annualized	$	747,763		$	709,447		$	466,441
Amortization of intangibles, tax effected, annualized	8,082			8,715			8,831
Adjusted net income available to common shareholders excluding amortization of intangibles annualized	$	755,845		$	718,162		$	475,272

Net income available to common shareholders annualized	$	744,969		$	711,504		$	461,812
Amortization of intangibles, tax effected, annualized	8,082			8,715			8,831
Net income available to common shareholders excluding amortization of intangibles annualized	$	753,051		$	720,219		$	470,643

Total average Synovus Financial Corp. shareholders' equity less preferred stock	$	4,812,279		$	4,824,003		$	4,542,616
Average goodwill	(480,440)			(480,440)			(480,440)
Average other intangible assets, net	(32,966)			(35,869)			(44,497)
Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock	$	4,298,873		$	4,307,694		$	4,017,679
Return on average common equity (annualized)	15.48		%	14.75		%	10.17		%
Adjusted return on average common equity (annualized)	15.54			14.71			10.27
Return on average tangible common equity (annualized)	17.52			16.72			11.71
Adjusted return on average tangible common equity (annualized)	17.58			16.67			11.83
(1) An assumed marginal tax rate of 24.2% for 1Q25 and 4Q24 and 24.5% for 1Q24 was applied.




(dollars in thousands)	March 31, 2025			December 31, 2024			March 31, 2024

Tangible common equity ratio
Total assets	$	60,339,121		$	60,233,644		$	59,835,120
Goodwill	(480,440)			(480,440)			(480,440)
Other intangible assets, net	(31,691)			(34,318)			(43,021)
Tangible assets	$	59,826,990		$	59,718,886		$	59,311,659

Total Synovus Financial Corp. shareholders’ equity	$	5,390,751		$	5,244,557		$	5,017,918
Goodwill	(480,440)			(480,440)			(480,440)
Other intangible assets, net	(31,691)			(34,318)			(43,021)
Preferred Stock, no par value	(537,145)			(537,145)			(537,145)
Tangible common equity	$	4,341,475		$	4,192,654		$	3,957,312
Total Synovus Financial Corp. shareholders’ equity to total assets ratio	8.93		%	8.71		%	8.39		%
Tangible common equity ratio	7.26			7.02			6.67

Amounts may not total due to rounding

Earnings Results First Quarter 2025 Exhibit 99.2

2 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," "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; (2) deposit growth and deposit costs; (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 future operating and financial performance; (8) our strategy and initiatives for future revenue growth, balance sheet optimization, capital management, and expense management; (9) our effective tax rate; and (10) 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, 2024 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. 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 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 taxable equivalent (TE); adjusted non-interest expense; adjusted tangible efficiency ratio; tangible common equity ratio; and adjusted pre-provision net revenue (PPNR). The most comparable GAAP measures to these measures are diluted earnings (loss) per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; total Synovus Financial Corp. shareholders' equity to total assets ratio; 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 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 TE are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on non-qualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. 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. The tangible common equity ratio is used by stakeholders to assess our capital position. 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. 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. Forward-Looking Statements Use of Non-GAAP Financial Measures

3 Income Statement Summary (GAAP) ($ in thousands, except per share data) 1Q25 % Change QoQ % Change YoY Net Interest Income $454,384 0% 8% Provision for Loan Losses $10,921 (67)% (80)% Non-Interest Revenue $116,466 (7)% (2)% Total Revenue $570,850 (2)% 6% Non-Interest Expense $308,034 0% (5)% Pre-Provision Net Revenue $262,816 (3)% 22% Diluted EPS $1.30 4% 67% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent; (3) NA - Not Applicable First Quarter 2025 Financial Highlights Income Statement Summary (Adjusted)(1) ($ in thousands, except per share data) 1Q25 % Change QoQ % Change YoY Net Interest Income (TE)(2) $455,961 0% 9% Provision for Loan Losses NA(3) NA(3) NA(3) Adjusted Non-Interest Revenue $117,282 (6)% 1% Adjusted Total Revenue (TE)(2) $573,243 (1)% 7% Adjusted Non-Interest Expense $307,942 0% (3)% Adjusted Pre-Provision Net Revenue $265,301 (2)% 22% Adjusted Diluted EPS $1.30 4% 65%

4 Period-End Balance Sheet Growth ($ in millions) 1Q25 % Change QoQ % Change YoY Loans $42,649 0% (2)% Deposits $50,843 0% 1% Core Deposits(1) $45,996 0% 3% Non-Interest Bearing Deposits $11,543 0% (4)% (1) Excludes brokered; (2) Annualized; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) TE - Taxable equivalent; (5) 1Q25 capital ratios are preliminary First Quarter 2025 Financial Highlights Profitability Metrics 1Q25 4Q24 1Q24 ROAA(2) 1.32% 1.25% 0.85% Adjusted ROAA(2)(3) 1.32% 1.25% 0.85% ROCE(2) 15.48% 14.75% 10.17% ROTCE(2)(3) 17.52% 16.72% 11.71% Adjusted ROTCE(2)(3) 17.58% 16.67% 11.83% Net Interest Margin(2) 3.35% 3.28% 3.04% Efficiency Ratio - TE(4) 53.81% 53.15% 59.87% Adjusted Efficiency Ratio(3) 53.26% 52.69% 58.88% Credit & Capital Metrics 1Q25 4Q24 1Q24 NCOs/Average Loans(2) 0.20% 0.26% 0.41% NPLs/Loans 0.67% 0.73% 0.81% Allowance for Credit Losses % 1.24% 1.27% 1.26% CET1 Ratio(5) 10.75% 10.84% 10.38%

5 Our Right To Win Winning the Client 1 J.D. Power Award Multiple Greenwich Awards American Banker #6 Bank in Reputation in 2024 Strong Corporate Culture Highly Engaged Employee Base with Low Turnover Strong Southeast Footprint Favorable Competitive Position Comprehensive Product Set Proven Ability to Capitalize on Market Disruption Targeted Growth Initiatives Well-Managed Interest Rate Sensitivity Non-Interest Expense Flexibility Granular Core Deposit(1) Base Strong Balance Sheet Liquidity Diverse Loan Portfolio Healthy Loan Loss Reserve Capital Levels Near 10-Year+ Highs Positioned for Growth 2 Resilient Business Model 3 (1) Excludes brokered

6 $218 $262 $262 $272 $265 1Q24 2Q24 3Q24 4Q24 1Q25 Adj. NIE, ex FDIC: Adjusted ROAA Adjusted Pre-Provision Net Revenue $537 $564 $564 $581 $573 1Q24 2Q24 3Q24 4Q24 1Q25 Profitability Remains Solid 6% YoY Revenue Growth ($ in millions) Disciplined Non-Interest Expense Control ($ in millions) Strong Adjusted ROAA(1) Performance 0.85% 1.21% 1.26% 1.25% 1.32% 1Q24 2Q24 3Q24 4Q24 1Q25 $319 $302 $302 $309 $308 1Q24 2Q24 3Q24 4Q24 1Q25 Reported ROAA 0.85% (0.10)% 1.21% 1.25% 1.32% $323 $302 $314 $309 $308 Reported Non-Interest Expense (1) Non-GAAP financial measure; see appendix for applicable reconciliation; (2) Annualized; (3) FDIC Special Assessment of $12.8MM, $(3.9MM), $(1.7MM), $(0.8MM), and $0.6MM for 1Q24, 2Q24, 3Q24, 4Q24, and 1Q25, respectively (3) (1) 22% YoY PPNR Growth ($ in millions) $215 $4 $271 $263 Reported Pre-Provision Net Revenue $251 Adjusted Non-Interest Expense (1) (1) $538 $306 $565 $581 $571 Reported Revenue Adjusted Revenue (1) 3.04% 3.20% 3.22% 3.28% 3.35%NIM:(2) $306 $306 $303 $310 $307 (1)

7 Net Charge-Off Ratio Balance Sheet Remains Strong Momentum in High Growth Loan Verticals(1) Positive Deposit Remixing(3)(4) 0.41% 0.32% 0.25% 0.26% 0.20% 1Q24 2Q24 3Q24 4Q24 1Q25 Non-Performing Loan Ratio 0.81% 0.59% 0.73% 0.73% 10.38% 10.60% 10.64% 10.84% 10.75% 1Q24 2Q24 3Q24 4Q24 1Q25 CET1 Ratio Stable and Near 10-Year+ HighsHealthy Credit Quality Metrics Middle Market, Specialty(2), Corporate and Investment Banking Loans Balances: ~$12 Billion 8% Annualized Growth Amounts may not total due to rounding; (1) Inclusive of Middle Market, Specialty and Corporate and Investment Banking lending; (2) Includes Asset Based Lending, Structured Lending, Life Finance, and Restaurant Services; (3) Contains average deposit balance and cost information; (4) Interest-bearing deposits as a percent of total deposits; (5) Annualized; (6) 1Q25 capital ratios are preliminary (5) 0.67% (5) (6) 1Q251Q24 2.77% 2.39% 4.83% 4.04% Lower Cost NOW, Savings, MMA Higher Cost Time, Brokered Rate: 49% 27%52% 25%

8 2025 Strategic Priorities Winning in the Southeast Maintain Top Quartile Profitability Target Sustainable Returns • Relationship Manager Hiring – Middle Market, Commercial and Wealth Services – Expand Structured Lending team – Deepen CIB FIG offering – Expand deposit verticals – Legal industry • Refinement of Delivery Models – Third Party Payments, Consumer Bank and Wealth Services • Maintain Strong Credit Metrics – Manageable levels of NCOs and NPLs • Exercise Prudent Interest Rate Risk Management – Reduces revenue volatility • Continue Enhancements to Risk Framework Amid Heightened Expectations – Operational loss prevention • Maintain Key Technology Investments – Consumer/Commercial banking platform upgrades 1 32 (1) Treasury and Payment Solutions includes Treasury Management, Commercial Card, International, and Letter of Credit fees • Disciplined Expense Management – Effectively manage spend in all environments • Conservative Balance Sheet Management – Effective deposit pricing strategy • Leverage More Robust Product Set – Treasury and Payment Solutions(1) and Capital Markets

9 Proactive Response to D.C. Policy Changes Enhanced Monitoring & Communication Revisited 2018-2019 Trade War Playbook and Response 1 4 • Cross-referenced Top 20 import/export categories with primary trading partner and upstream suppliers/ downstream demand sources with our C&I loan portfolio • Created a “Trade Tracker” analytics tool for relationship managers to quickly identify potentially affected borrowers • Enhanced monitoring of client activity (e.g, line utilization, cash inflows/outflows, etc.) • Created intranet resource page for relationship managers and credit staff to identity potentially impacted clients, escalate concerns and initiate discussions • Leveraged internal and external resource groups with specialized subject matter expertise Formed Washington Policy Risk Working Group in February • Members from Enterprise Risk, Legal, Credit, Lines of Businesses, Finance, Corporate Communications and Marketing • Equal emphasis on executive actions, administrative policies, trade policy and changes in regulatory landscape 2 Increased Client Outreach3 Primary Targets 1Q25 Client Survey • Largest commercial clients across all lines of business • Sector Focus ◦ Manufacturing ◦ Transportation ◦ Government Contractors ◦ CRE Borrowers with Discount Store and Apparel Sector Exposure • Enhanced survey with questions on exposure to tariff increases and policy changes • Cross referenced results with client inflows/outflows to identify potential headwinds ◦ Margin erosion ◦ Potential inability to pass along costs

10 2025 Guidance Key Guidance Assumptions Period End Loan Growth Period End Core Deposit(1) Growth Adjusted Revenue(2)(3) Adjusted Non-Interest Expense(2)(3) Effective Tax Rate CET1 Ratio (1) Excludes brokered; (2) Non-GAAP financial measure; see cautionary language on slide 2 and appendix for applicable reconciliation; (3) Guidance based on the 2024 adjusted revenue of $2.25 billion and adjusted NIE of $1.23 billion • Expect full-year growth in core deposits(1) supported by broad based LOB contributions • Assumes relatively stable non-interest bearing deposit balances • Continue to manage CET1 Ratio near current levels, with a focus on prioritizing capital for core client growth • Includes $6 million charge from a state tax matter in 1Q25 • Base case assumes the FOMC easing to 3.50% in 2025 and stable long-term rate expectations • Assumes core deposit(1) portfolio composition remains relatively stable • Expect 2025 adjusted non-interest revenue(2) of $485 million - $505 million • Employment related costs, new initiative spend and credit/fraud related expense all trending positively • Assumes no change in strategic growth initiative objectives • Expect 2Q25 adjusted non-interest expense(2) of ~$315 million 3% - 6% 2% - 4% Relatively Stable ~22% 2025 Full Year 3% - 5% 3% - 5% Second Quarter 2025 Net-Charge Offs Relatively Stable from 1Q25 • High growth loan verticals continue to drive growth • Macroeconomic uncertainty reduces top end of range from prior expectations

Financial Performance

12 Loans $42,609 $(18) $57 $1 $42,649 4Q24 C&I CRE Consumer 1Q25 First Quarter 2025 Loan Growth Attribution ($ in millions) Total Loans: $43 billion Amounts may not total due to rounding; (1) Inclusive of Middle Market, Specialty and Corporate and Investment Banking lending; (2) Excluding secondary mortgage production; (3) Businesses highlighted are primary businesses within these categories; (4) Includes Asset Based Lending, Structured Lending, Life Finance, and Restaurant Services High Growth Middle Market Specialty(4) CIB ~$12B 2025 Loan Growth Drivers(3) 1Q25 Growth: Moderate Growth Commercial Banking Private Wealth Senior Housing Institutional CRE Consumer Lending Rationalized National Accounts Third-Party Lending Low Growth ~$12B ~$16B ~$2B $(79MM) $(34MM) $(48MM) • High Growth Verticals(1) loans up 8% annualized • Loan production(2) rose 16% and 89% QoQ and YoY, respectively, driven by increases in our high growth verticals and Institutional CRE loans • C&I utilization relatively flat QoQ Highlights $225MM 2025E Growth: 0% - 5% Relatively Stable (5)% - 0%10% - 15%

13 • Seasonal declines in Middle Market deposits impacted overall QoQ core deposit growth • Seasonal NIB outflows in public funds offset by seasonal benefits in Consumer NIB • Total deposit cost beta through recent FOMC rate cuts at 46% $51,095 $(53) $197 $29 $211 $(607) $(29) $50,843 4Q24 Non- Interest- Bearing NOW Savings MMA Time Brokered 1Q25 Deposits Sequential Change in Deposit Balances(1) ($ in millions) Amounts may not total due to rounding; (1) Balances include public funds QoQ changes; (2) Period-end; (3) Upper band of FOMC Target Policy Rate Total Deposits: $51 billion Average Quarterly Fed Target Rate(3) vs. SNV Cost of DepositsNon-Interest Bearing Deposits Stable(2) ($ in billions) $12.0 $11.7 $11.6 $11.6 $11.5 $11.5 $11.2 $11.1 $11.0 $11.1 Non-Interest Bearing Deposits, excl. Public Funds NIB Public Funds 1Q24 2Q24 3Q24 4Q24 1Q25 4.69% 5.16% 5.43% 5.50% 5.50% 5.50% 5.43% 4.81% 4.50% 1.44% 1.95% 2.31% 2.50% 2.67% 2.68% 2.72% 2.46% 2.26% Fed Target Rate SNV Cost of Deposits 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 (3) Highlights $(174) $125 $(1) $193 $(6) Public Funds QoQ Growth: -46bps = 46% beta

14 • Net interest income was stable QoQ as NIM expansion offset the impact of lower day count • NIM expansion driven largely by effective deposit management, hedge maturities and a lower cash position $419 $435 $441 $455 $454 3.04% 3.20% 3.22% 3.28% 3.35% Net Interest Income Net Interest Margin 1Q24 2Q24 3Q24 4Q24 1Q25 Amounts may not total due to rounding; Note: all references to NIM are taxable equivalent and annualized; (1) NIM Attribution reflects estimates and includes both attributed and unattributed items Net Interest Income Net Interest Income and Net Interest Margin Trends ($ in millions) Net Interest Income: $454 million Net Interest Margin Attribution(1) 3.28% 0.02% 0.02% 0.02% (0.14)% 0.19% (0.01)% (0.02)% 3.35% 4Q24 NIM Lower Cash Balance Hedge Maturities Fixed Asset Repricing Floating Rate Loan/ Other Deposit/ Funding Costs Deposit Mix Other 1Q25 NIM Assets (-8 bps) Liabilities (+16 bps)Highlights

15 • Treasury & Payment Solutions and Card Fees supported 6% YoY Core Banking Fee growth • QoQ Wealth Revenue impacted by lower seasonal client billing and transaction related revenue • Loan production mix reduced Capital Markets Income QoQ ($ in millions) 1Q25 QoQ Δ YoY Δ Core Banking Fees(1) $50 2% 6% Wealth Revenue(2) $41 (5)% (3)% Capital Markets Income $7 (42)% 5% Net Mortgage Revenue $3 25% (2)% Other Income(3)(4)(5) $16 (12)% (9)% Total Adjusted Non-Interest Revenue(6) $117 (6)% 1% Total Non-Interest Revenue $116 (7)% (2)% Amounts may not total due to rounding; (1) Includes service charges on deposit accounts, card fees, and several other non-interest revenue components including line of credit non-usage fees, letter of credit fees, ATM fee income, 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, Commercial Sponsorship, and other miscellaneous income; (4) Excludes adjusted NIR items. See appendix for adjusted NIR non-GAAP reconciliation; (5) 1Q25 Other Income impacted by elevated 4Q24 BOLI benefits; (6) Non-GAAP financial measure; see appendix for applicable reconciliation Non-Interest Revenue Non-Interest Revenue: $116 million Non-Interest Revenue Investment Areas & Initiatives Treasury and Payment Solutions Wealth Services Third Party Payments Corporate and Investment Banking Middle Market Banking • Accelerate Trade • Pricing Initiative • Expanded Financial Institutions Coverage • Business Owner's Wealth Strategy • Wealth Delivery Transformation • Relationship Manager Expansion • Syndication Platform Enhancements • Commercial Sponsorship and Merchant Expansion Highlights

16 $319 $302 $302 $309 $308 1Q24 2Q24 3Q24 4Q24 1Q25 Reported Non-Interest Expense Adj. NIE, ex FDIC Special Assessment • Seasonally higher employment expense offset by lower QoQ performance incentives • Expenses supported by prudent hiring, controlled project-related costs and improved credit-related legal cost and fraud expense • Excluding FDIC Special Assessment, adjusted non-interest expense(1) was flat YoY Non-Interest Expense ($ in millions) 1Q25 QoQ Δ YoY Δ Total Employment $186 1% —% Total Other $73 (6)% (15)% Total Occupancy, Equipment, and Software $49 3% 4% Total Adjusted Non-Interest Expense(1) $308 0% (3)% Total Non-Interest Expense $308 0% (5)% Non-Interest Expense: $308 million Amounts may not total due to rounding; (1) Non-GAAP financial measure; see appendix for applicable reconciliation; (2) FDIC Special Assessment of $12.8MM, $(3.9MM), $(1.7MM), $(0.8MM), and $0.6MM for 1Q24, 2Q24, 3Q24, 4Q24, and 1Q25, respectively Multi-Quarter Non-Interest Expense Control ($ in millions) $309 $10 $(8) $2 $(5) $308 4Q24 Seasonal Compensation Increases Incentive Compensation Strategic Investments Discretionary Spend/Other Operating 1Q25 Adjusted Non-Interest Expense(1) ($ in millions) Highlights $323 $302 $314 $309 $308 (1)(2) Adjusted Non-Interest Expense (1) $306 $306 $303 $310 $307

17 • NCOs and non-performing loans improved • ACL decline from stronger credit metrics partially offset by a more adverse economic outlook • 2Q25 NCOs/average loans expected to be relatively stable QoQ Credit Quality $44 $34 $27 $28 $21 1Q24 2Q24 3Q24 4Q24 1Q25 Net Charge-Offs ($ in millions) Amounts may not total due to rounding. (1) Criticized and Classified Loans increased by $3MM following the release of 4Q24 earnings results; (2) Annualized $546 $538 $535 $539 $529 1Q24 2Q24 3Q24 4Q24 1Q25 156% 210% 171% 174% 185%ACL to NPLs: Allowance for Credit Losses ($ in millions) 3.8% 3.7% 3.9% 4.0% 3.8% 1Q24 2Q24 3Q24 4Q24 1Q25 Nonperforming and Criticized & Classified Loans Allowance for Credit Losses RatioAllowance for Credit Losses Net Charge-Off RatioNet Charge-OffsNon-Performing Loan Ratio Criticized & Classified Loans as a % of Total Loans 1.26% 1.25% 1.24% 1.27% 0.41% 0.32% 0.25% 0.26%0.81% 0.59% 0.73% 0.73% 0.20% 1.24% Highlights 0.67% (1) (2)

18 10.38% 10.60% 10.64% 10.84% 10.75% Common Equity Tier 1 Tier 1 Tier 2 1Q24 2Q24 3Q24 4Q24 1Q25 Amounts may not total due to rounding; (1) 1Q25 capital ratios are preliminary; (2) As amended (1) 11.76% 13.60% 13.81% 11.96% Capital Capital Ratios 13.24%(2) 11.45% Common Equity Tier 1(1) Within Operating Range 10.84% 0.38% (0.11)% (0.25)% (0.05)% (0.05)% 10.75% Beginning CET1 Ratio (4Q24) Net Income To Common Shareholders Common Dividends Share Repurchases RWA Other Ending CET1 Ratio (1Q25) (First Quarter 2025 CET1 Change) (1) 13.56% 11.72% 11.87% 13.65% • CET1 Ratio(1) at 10.75% inclusive of $120 million of 1Q25 share repurchases • TBV per share up 5% QoQ to $31.19 • Will continue to prudently manage capital at or near current levels Highlights

Appendix

20 Loan Trends $43,310 $43,093 $43,121 $42,609 $42,649 $22,731 $22,537 $22,664 $22,331 $22,313 $12,194 $12,215 $12,177 $12,015 $12,072 $8,385 $8,341 $8,279 $8,263 $8,264 C&I CRE Consumer 1Q24 2Q24 3Q24 4Q24 1Q25 Period End Loans ($ in millions) $43,378 $43,364 $42,908 $42,537 $42,506 $22,665 $22,729 $22,470 $22,257 $22,299 $12,278 $12,278 $12,140 $12,021 $11,963 $8,434 $8,358 $8,298 $8,259 $8,244 C&I CRE Consumer 1Q24 2Q24 3Q24 4Q24 1Q25 Average Loans ($ in millions) Amounts may not total due to rounding

21 $50,580 $50,196 $50,194 $51,095 $50,843 $12,042 $11,656 $11,562 $11,596 $11,543 $10,644 $10,781 $10,960 $11,517 $11,714 $12,925 $12,854 $13,112 $14,056 $14,267 $1,055 $1,021 $995 $982 $1,011 $8,195 $8,482 $8,460 $8,068 $7,461 $5,719 $5,402 $5,105 $4,875 $4,847 NIB DDA NOW MMA Savings Time Brokered 1Q24 2Q24 3Q24 4Q24 1Q25 Deposit Trends Period End Deposits ($ in millions) Average Deposits ($ in millions) $50,186 $50,408 $50,481 $51,101 $50,598 $12,072 $12,099 $11,666 $11,784 $11,406 $10,590 $10,789 $10,835 $11,298 $11,613 $12,826 $12,617 $13,059 $13,768 $13,901 $1,057 $1,036 $1,008 $987 $994 $7,903 $8,383 $8,438 $8,252 $7,778 $5,737 $5,483 $5,476 $5,013 $4,906 NIB DDA NOW MMA Savings Time Brokered 1Q24 2Q24 3Q24 4Q24 1Q25 Amounts may not total due to rounding

22 $539 $4 $(6) $(10) $1 $1 $529 4Q24 Economic Uncertainty Other Qualitatives Performance Net Growth Other 1Q25 ACL/Loans: 1.27% 1.24% Economic Scenario Assumptions and Weightings Amounts may not total due to rounding; (1) Other factors include the addition to the ACL associated with the cessation of a third-party lending relationships and decline in that portfolio as well as the impact of dispositions, etc.; (2) Downside scenarios carry a total weighting of 40%, and correspond to Moody's February 2025 "S5" Slow Growth scenario and "S3" Downside 10th Percentile scenario; (3) Upside refers to Moody's February 2025 "S1" Upside 10th Percentile scenario; (4) Corresponds to Moody's February 2025 scenarios ($ in millions) Allowance for Credit Losses 1Q25 Change from 2025(4) 2026(4) Scenario Model Weighting Previous Quarter GDP Unemployment GDP Unemployment Consensus Baseline 55% NC 2.0% 4.1% 2.0% 4.2% Slow Growth(2) 20% (5)% 1.7% 4.5% 0.7% 5.2% Downside(2) 20% 10% 0.0% 6.2% (0.7)% 8.2% Upside(3) 5% (5)% 2.5% 3.5% 2.7% 3.4% Weighted Average 1.6% 4.6% 1.2% 5.2% (1)

23 Risk Distribution ($ in millions) Composition Change Risk Category 1Q25 4Q24 1Q25 vs. 4Q24 Passing Grades $41,039 $40,926 $113 Special Mention $709 $755 $(47) Substandard Accruing $614 $619 $(4) Non-Performing Loans $287 $309 $(23) Total Loans $42,649 $42,609 $40 $914 $929 $942 $1,086 $1,333 $1,484 $1,527 $1,634 $1,590 $1,693 $1,683 $1,610 2.2% 2.2% 2.2% 2.5% 3.0% 3.4% 3.5% 3.8% 3.7% 3.9% 4.0% 3.8% Criticized & Classified Loans % of Total Loans 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Portfolio Risk DistributionCriticized & Classified Loans Amounts may not total due to rounding. (1) Criticized and Classified Loans increased by $3MM following the release of 4Q24 earnings results (1)

24 Consumer Portfolio $8.3 billion CRE Portfolio $12.1 billion C&I Portfolio $22.3 billion 1Q25 Portfolio Characteristics C&I CRE Consumer NPL Ratio 0.64% 0.58% 0.88% QTD Net Charge-off Ratio (annualized) 0.13% 0.32% 0.23% 30+ Days Past Due Ratio 0.25% 0.02% 0.41% 90+ Days Past Due Ratio 0.17% 0.00% 0.02% Amounts may not total due to rounding; (1) Industry-focused C&I is comprised of senior housing, structured lending (asset-backed finance), insurance premium finance, CIB, restaurant finance, and public funds portfolios; (2) LTV is calculated by dividing the sum of the 3/31/25 commitment amount and any existing senior lien by the most recent appraisal value (typically at origination) Loan Portfolio by Category 26% 22% 4% 10% 6% 4% 4% 3% 1% 17% 3% Market-Based C&I Industry-Focused C&I Other C&I Multi-Family Other CRE Hotel Office Retail Residential C&D & Land Consumer Real Estate Consumer Non-Real Estate Highly Diverse Loan Mix (1) • C&I portfolio is well-diversified among multiple lines-of-business • Diverse C&I industry mix aligned with economic and demographic drivers • SNCs total $4.8 billion, ~8% of which is agented by SNV • Leveraged loans total $1.9 billion • 93% are income-producing properties • Diversity among property types and geographies • 90% of NPL balance comprised of one office relationship • Weighted average credit score of 787 and 783 for Home Equity and Mortgage, respectively • Weighted average LTV(2) of 72.3% and 68.9% for Home Equity and Mortgage, respectively

25 Credit Indicator 1Q25 NPL Ratio 0.64% Net Charge-off Ratio (annualized) 0.13% 30+ Days Past Due Ratio 0.25% 90+ Days Past Due Ratio 0.17% Diverse Industry Exposure Total C&I Portfolio $22.3 billion 21.2% 12.6% 7.1% 6.4% 5.6% 5.5% 5.2% 4.7% 4.3% 4.2% 4.0% 3.9% 3.5% 3.4% 2.4% 2.1% 2.1% 1.0% 0.9% Finance/Insurance Senior Housing Accom. & Food Svcs. Health Care Manufacturing Lessors of R/E Wholesale Trade Retail Trade Construction Other Services Transport/Warehousing Prof., Scientific, Tech. Svcs. Other R/E and Rental & Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Ag, Forestry, Fishing Admin., Support, Waste Mgmt. 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 (1) (1) (1) C&I Loan Portfolio • Approximately 95% of the C&I Portfolio is Collateralized • Wholesale Bank (includes Market Based and Industry Focused Lines) represents 69% of C&I balances • Finance/Insurance predominantly represented by secured lender finance portfolio ◦ 0.16% NPL Ratio ◦ 0.00% Net Charge-Off Ratio (annualized) ◦ 0.00% 30+ Day Past Due Ratio 5% 8% 11% 8% 7% 23% 38% Unsecured Other Collateral Lender Finance Insurance Premium Finance Other Assignments Inventory/Receivables Owner-Occupied CRE Lender Finance, Insurance Premium Finance, and Other Assignments make up the Assignments Collateral Group (comprising 26% of C&I loans)

26 Commercial Real Estate Loan Portfolio Composition of 1Q25 CRE Portfolio Total CRE Portfolio $12.1 billion Investment Properties Land, Development and Residential Properties Portfolio Characteristics (as of March 31, 2025) Office Building Multi-family Shopping Centers Hotels Other Investment Properties Warehouse Residential Properties(1) Development & Land Balance (in millions) $1,724 $4,183 $1,269 $1,832 $1,410 $849 $513 $292 Weighted Average LTV(2) 55.5% 51.5% 53.0% 53.5% 51.5% 51.6% NA NA NPL Ratio 3.74% 0.00% 0.04% 0.00% 0.06% 0.02% 0.50% 0.48% Net Charge-off Ratio (annualized) 2.21% 0.00% 0.00% 0.00% 0.00% 0.00% (0.01)% (0.04)% 30+ Days Past Due Ratio 0.00% 0.00% 0.10% 0.01% 0.04% 0.00% 0.15% 0.00% 90+ Days Past Due Ratio 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% • Investment Properties portfolio represent 93% of total CRE portfolio ◦ The portfolio is well diversified among property types • CRE Credit Quality ◦ 0.58% NPL Ratio ◦ 0.32% Net Charge-Off Ratio (annualized) ◦ 0.02% 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 the 3/31/25 commitment amount and any senior lien by the most recent appraisal (typically at origination) 34.7% 15.2% 14.3% 11.7% 10.5% 7.0% 2.7% 2.4% 1.6% Multi-Family Hotels Office Building Other Investment Properties Shopping Center Warehouses 1-4 Family Perm/Mini-Perm Land Acquisition & Dev. 1-4 Family Construction

27 Credit Indicator 1Q25 NPL Ratio 0.88% Net Charge-off Ratio (annualized) 0.23% 30+ Days Past Due Ratio 0.41% 90+ Days Past Due Ratio 0.02% Total Consumer Portfolio $8.3 billion Credit Indicator Home Equity Mortgage Weighted Average Credit Score of 1Q25 Originations 789 784 Weighted Average Credit Score of Total Portfolio 787 783 Weighted Average LTV(1) 72.3% 68.9% Average DTI(2) 32.1% 32.9% Utilization Rate 39.4% N/A 63.8% 22.3% 7.5% 4.3% 2.2% Consumer Mortgage Home Equity Third-Party HFI Other Consumer Credit Card Amounts may not total due to rounding; (1) LTV calculated by dividing the 3/31/25 commitment amount and any senior lien by the most recent appraisal (typically at origination); (2) Average DTI of 1Q25 originations Consumer Credit Quality • 86% of Consumer portfolio is backed by residential real estate • Other Consumer includes secured and unsecured products • Average consumer card utilization rate is 22.4% • Third party HFI portfolio of $617 million Consumer Loan Portfolio

28 $3,350 $3,350 $2,850 $2,600 $2,350 $2,350 $2,100 $1,850 $1,750 $500 $500 $500 $750 $750 $1,000 $1,250 $1,500 2.78% 2.98% 3.16% 3.38% 3.62% 3.62% 3.64% 3.65% 3.71% Effective Forward Starting Effective Rate 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 62% 62% 63% 63% 63% 38% 38% 37% 37% 37% 6.49% 6.59% 6.59% 6.41% 6.26% Floating Rate Fixed Rate Yield 1Q24 2Q24 3Q24 4Q24 1Q25 Amounts may not total due to rounding; (1) Represents projected notional outstanding for effective cash-flow loan hedges, along with the estimated effective fixed-rate at the end of the respective period; (2) NII sensitivity estimates reflect a dynamic balance sheet Derivative Hedge Portfolio(1)Loan Portfolio Rate Mix and Yield Earning Assets Composition ($ in millions) 12-Month Net Interest Income Sensitivity(2) Parallel Shock % NII Impact +100bps 1.8% -100bps (1.8)%

29 Repricing Term Rate Structure 3 mos or less 3-12 mos 1-3 Years 3-5 Years 5-15 Years Over 15 Years Total Variable Rate Fixed Rate Non-real estate $ 12,093 $ 615 $ 459 $ 800 $ 612 $ 252 $ 14,831 $ 12,309 $ 2,522 Owner occupied 1,123 195 629 715 1,097 5 3,764 1,081 2,683 Commercial & Industrial 13,216 810 1,088 1,515 1,709 257 18,595 13,390 5,205 Construction, A&D 1,827 73 149 141 98 2 2,290 1,768 522 Income producing 9,982 445 1,547 961 447 9 13,391 10,024 3,367 Commercial Real Estate 11,809 518 1,696 1,102 545 11 15,681 11,792 3,889 Residential mortgages 1,531 142 263 393 819 4,249 7,397 1,492 5,905 Other consumer 488 20 92 51 240 85 976 474 502 Total $ 27,044 $ 1,490 $ 3,139 $ 3,061 $ 3,313 $ 4,602 $ 42,649 27,148 15,501 % of Total 63 % 3 % 7 % 7 % 8 % 11 % Loans - Repricing and Maturity ($ in millions) Amounts are preliminary and may not total due to rounding. Note: Loan category totals are based on Fed call codes related to regulatory reporting Call Report instructions for Synovus Bank.

30 Securities Portfolio $11,153 $10,240 $10,449 $10,661 $10,783 $2,668 $2,623 $2,582 $2,547 2.58% 3.04% 3.36% 3.43% 3.47% AFS HTM Yield 1Q24 2Q24 3Q24 4Q24 1Q25 Total Securities Portfolio(1) ($ in millions) Securities & Cash Flow Hedges: Estimated Unrealized Loss in AOCI (After-Tax)(2) ($ in billions) $0.8 $0.7 $0.6$0.8 $0.7 $0.6 Securities AOCI Swap AOCI 1Q25 1Q26E 1Q27E Note: Amounts may not total due to rounding; (1) Amortized cost; decline of approx. -$700MM in 2Q24 due to transfer cost associated with HTM reclassification on 4/1/24; (2) AOCI unrealized loss projections are based on the forward interest rate curve as of 3/31/25 and incorporate various assumptions, including those related to prepayments and tax rates

31 4Q24 1Q25 ($ in millions; rates annualized) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Non-interest-bearing $11,784 N/A $11,406 N/A Interest-bearing non-maturity (NMD) $26,053 2.58% $26,509 2.39% Time $8,252 4.12% $7,778 3.71% Brokered $5,013 4.91% $4,906 4.57% Total interest-bearing $39,318 3.20% $39,192 2.92% Total deposits $51,101 2.46% $50,598 2.26% Total Average Deposit Costs

32 1Q24 2Q24 3Q24 4Q24 1Q25 Financial Performance Diluted EPS $0.78 $(0.16) $1.18 $1.25 $1.30 Net interest margin(1) 3.04% 3.20% 3.22% 3.28% 3.35% Efficiency ratio-TE 59.87% 98.15% 55.41% 53.15% 53.81% Adjusted tangible efficiency ratio(2) 58.88% 53.05% 52.97% 52.69% 53.26% ROAA(1) 0.85% (0.10)% 1.21% 1.25% 1.32% Adjusted ROAA(1)(2) 0.85% 1.21% 1.26% 1.25% 1.32% Balance Sheet QoQ Growth Total loans 0% 0% 0% (1)% 0% Total deposits 0% (1)% 0% 2% 0% Credit Quality NPA ratio 0.86% 0.60% 0.73% 0.73% 0.67% NCO ratio(1) 0.41% 0.32% 0.25% 0.26% 0.20% Capital Common shares outstanding(3) 146,418 144,150 141,997 141,166 139,214 Leverage ratio 9.62% 9.44% 9.55% 9.55% 9.56% Tangible common equity ratio(2) 6.67% 6.76% 7.28% 7.02% 7.26% Amounts may not total due to rounding; (1) Annualized; (2) Non-GAAP financial measure; see applicable reconciliation; (3) In thousands; (4) Preliminary (4) Quarterly Highlights Trend

33 ($ and shares in thousands, except per share data) 1Q24 4Q24 1Q25 Net income available to common shareholders $114,822 $178,848 $183,691 Valuation adjustment on GLOBALT earnout — (719) — Restructuring charges (reversals) 1,524 37 (1,292) Valuation adjustment to Visa derivative — — 2,200 Tax effect of adjustments(1) (373) 165 (219) Adjusted net income available to common shareholders $115,973 $178,331 $184,380 Weighted average common shares outstanding, diluted 147,122 142,694 141,775 Net income per common share, diluted $0.78 $1.25 $1.30 Adjusted net income per common share, diluted $0.79 $1.25 $1.30 Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.2% for 1Q25 and 4Q24 and 24.5% for 1Q24 was applied Non-GAAP Financial Measures

34 ($ in thousands) 1Q24 2Q24 3Q24 4Q24 1Q25 Net income (loss) $124,070 $(14,680) $180,684 $189,377 $194,872 Valuation adjustment on GLOBALT earnout — — — (719) — Restructuring charges (reversals) 1,524 (658) 1,219 37 (1,292) Valuation adjustment to Visa derivative — — 8,700 — 2,200 Investment securities losses (gains), net — 256,660 — — — Tax effect of adjustments(1) (373) (62,644) (2,427) 165 (219) Adjusted net income $125,221 $178,678 $188,176 $188,860 $195,561 Net income (loss) annualized $499,007 $(59,043) $718,808 $753,391 $790,314 Adjusted net income annualized $503,636 $718,639 $748,613 $751,334 $793,109 Total average assets $59,022,231 $59,246,849 $59,183,624 $60,174,616 $59,876,546 Return on average assets (annualized) 0.85% (0.10)% 1.21% 1.25% 1.32% Adjusted return on average assets (annualized) 0.85% 1.21% 1.26% 1.25% 1.32% Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.2% for 1Q25 and 4Q24 and 24.5% for 1Q24, 2Q24, and 3Q24 was applied Non-GAAP Financial Measures, Continued

35 ($ in thousands) 1Q24 4Q24 1Q25 Net income available to common shareholders $114,822 $178,848 $183,691 Valuation adjustment on GLOBALT earnout — (719) — Restructuring charges (reversals) 1,524 37 (1,292) Valuation adjustment to Visa derivative — — 2,200 Tax effect of adjustments(1) (373) 165 (219) Adjusted net income available to common shareholders $115,973 $178,331 $184,380 Adjusted net income available to common shareholders annualized $466,441 $709,447 $747,763 Amortization of intangibles, tax effected, annualized 8,831 8,715 8,082 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $475,272 $718,162 $755,845 Net income available to common shareholders annualized $461,812 $711,504 $744,969 Amortization of intangibles, tax effected, annualized 8,831 8,715 8,082 Net income available to common shareholders excluding amortization of intangibles annualized $470,643 $720,219 $753,051 Total average Synovus Financial Corp. shareholders' equity less preferred stock $4,542,616 $4,824,003 $4,812,279 Average goodwill (480,440) (480,440) (480,440) Average other intangible assets, net (44,497) (35,869) (32,966) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $4,017,679 $4,307,694 $4,298,873 Return on average common equity (annualized) 10.17% 14.75% 15.48% Adjusted return on average common equity (annualized) 10.27% 14.71% 15.54% Return on average tangible common equity (annualized) 11.71% 16.72% 17.52% Adjusted return on average tangible common equity (annualized) 11.83% 16.67% 17.58% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding; (1) An assumed marginal tax rate of 24.2% for 1Q25 and 4Q24 and 24.5% for 1Q24 was applied

36 Non-GAAP Financial Measures, Continued ($ in thousands) 1Q24 2Q24 3Q24 4Q24 1Q25 Total non-interest revenue $118,888 $(128,851) $123,980 $125,587 $116,466 Valuation adjustment on GLOBALT earnout — — — (719) — Investment securities (gains) losses, net — 256,660 — — — Fair value adjustment on non-qualified deferred compensation (2,299) (561) (2,062) (237) 816 Adjusted non-interest revenue $116,589 $127,248 $121,918 $124,631 $117,282 Total non-interest expense $322,741 $301,801 $313,690 $309,311 $308,034 Restructuring (charges) reversals (1,524) 658 (1,219) (37) 1,292 Fair value adjustment on non-qualified deferred compensation (2,299) (561) (2,062) (237) 816 Valuation adjustment to Visa derivative — — (8,700) — (2,200) Adjusted non-interest expense $318,918 $301,898 $301,709 $309,037 $307,942 Amounts may not total due to rounding

37 ($ in thousands) 1Q24 2Q24 3Q24 4Q24 1Q25 Adjusted non-interest expense $318,918 $301,898 $301,709 $309,037 $307,942 Amortization of intangibles (2,907) (2,907) (2,907) (2,888) (2,627) Adjusted tangible non-interest expense $316,011 $298,991 $298,802 $306,149 $305,315 Net interest income $418,846 $434,998 $440,740 $454,993 $454,384 Total non-interest revenue 118,888 (128,851) 123,980 125,587 116,466 Total revenue 537,734 306,147 564,720 580,580 570,850 Net interest income $418,846 $434,998 $440,740 $454,993 $454,384 Tax equivalent adjustment 1,310 1,351 1,393 1,430 1,577 Net interest income (TE) $420,156 $436,349 $442,133 $456,423 $455,961 Total non-interest revenue 118,888 (128,851) 123,980 125,587 116,466 Total revenue (TE) 539,044 307,498 566,113 582,010 572,427 Investment securities losses (gains), net — 256,660 — — — Valuation adjustment on GLOBALT earnout — — — (719) — Fair value adjustment on non-qualified deferred compensation (2,299) (561) (2,062) (237) 816 Adjusted revenue (TE) $536,745 $563,597 $564,051 $581,054 $573,243 Efficiency ratio-TE 59.87% 98.15% 55.41% 53.15% 53.81% Adjusted tangible efficiency ratio 58.88% 53.05% 52.97% 52.69% 53.26% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding

38 Non-GAAP Financial Measures, Continued Amounts may not total due to rounding ($ in thousands) 1Q24 2Q24 3Q24 4Q24 1Q25 Net interest income $418,846 $434,998 $440,740 $454,993 $454,384 Total non-interest revenue 118,888 (128,851) 123,980 125,587 116,466 Total non-interest expense (322,741) (301,801) (313,690) (309,311) (308,034) Pre-provision net revenue (PPNR) $214,993 $4,346 $251,030 $271,269 $262,816 Adjusted revenue (TE) $536,745 $563,597 $564,051 $581,054 $573,243 Adjusted non-interest expense (318,918) (301,898) (301,709) (309,037) (307,942) Adjusted PPNR $217,827 $261,699 $262,342 $272,017 $265,301 Non-G P Financial Mea ures, Continued

39 ($ in thousands) 1Q24 2Q24 3Q24 4Q24 1Q25 Total assets $59,835,120 $59,606,343 $59,589,628 $60,233,644 $60,339,121 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (43,021) (40,114) (37,207) (34,318) (31,691) Tangible assets $59,311,659 $59,085,789 $59,071,981 $59,718,886 $59,826,990 Total Synovus Financial Corp. shareholders’ equity $5,017,918 $5,053,606 $5,355,976 $5,244,557 $5,390,751 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (43,021) (40,114) (37,207) (34,318) (31,691) Preferred Stock, no par value (537,145) (537,145) (537,145) (537,145) (537,145) Tangible common equity $3,957,312 $3,995,907 $4,301,184 $4,192,654 $4,341,475 Total Synovus Financial Corp. shareholders’ equity to total assets ratio 8.39% 8.48% 8.99% 8.71% 8.93% Tangible common equity ratio 6.67% 6.76% 7.28% 7.02% 7.26% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding