8-K

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

July 16, 2019

Date of Report

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

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

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 649-2311

(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:

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

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

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

o    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 o

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. o

Item 2.02	Results of Operations and Financial Condition
	On July 16, 2019, Synovus Financial Corp. (the “Company”) issued a press release announcing the Company’s financial results for the three and six month period ended June 30, 2019.
	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 and six month period June 30, 2019 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 July 16, 2019, 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 July 16, 2019.
	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 Exhibit 99.2 and Exhibit 99.3 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 and Exhibit 99.3 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 July 16, 2019
	99.2	Supplemental Information prepared for use with the press release
	99.3	Slide presentation prepared for use with the press release

Signature

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: July 16, 2019	By: /s/ Allan E. Kamensky
	Name: Allan E. Kamensky
	Title: Executive Vice President, General Counsel
	and Secretary

EX-99.1

Exhibit 99.1

Media Contact	Investor Contact
Lee Underwood	Steve Adams
Media Relations	Investor Relations
(706) 644-0528	(706) 641-6462

Synovus Announces Earnings for the Second Quarter2019

Diluted Earnings per Share of $0.96, up 5.5% vs. $0.91 in 2Q18

Adjusted Diluted Earnings per Share of $1.00, up8.4% vs. $0.92 in2Q18

COLUMBUS, Ga., July 16, 2019 - Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended June 30, 2019.

Second Quarter 2019 Highlights

• Diluted EPS of $0.96; adjusted diluted EPS of $1.00, up1.5% sequentially and 8.4% year over year.

• Period-end loan growth of $504.1 million, or 5.7% annualized, from prior quarter.

• Average non-interest-bearing deposits excluding public funds up $312.4 million or 15.1% sequentially.

• Non-interest income growth of 13.1% sequentially, or 15.0% on an adjusted basis.

• Key credit metrics continued to improve, with non-performing asset (NPA) and non-performing loan ratios declining 5 and 6 basis points, respectively.

• Completed integration of all Florida Community Bank (FCB) systems, customers, branches, and branding.

• Increased the 2019 share repurchase authorization from $400 million to $725 million.

• Announced and priced a public offering of $350 million of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E.

Second Quarter Summary

	Reported									Adjusted
(dollars in thousands)	2Q19			1Q19			2Q18			2Q19			1Q19			2Q18
Net income available to common shareholders	$	153,034		$	117,036		$	108,622		$	158,892		$	160,155		$	109,824
Diluted earnings per share	0.96			0.72			0.91			1.00			0.98			0.92
Total loans	36,138,561			35,634,501			25,134,056			N/A			N/A			N/A
Total deposits	37,966,722			38,075,190			26,442,688			N/A			N/A			N/A
Total revenues	487,880			477,183			358,084			488,270			476,250			359,417
Return on avg assets	1.35		%	1.06		%	1.42		%	1.40		%	1.45		%	1.43		%
Return on avg common equity	14.32			10.98			15.39			14.87			15.03			15.56
Return on avg tangible common equity	16.66			12.88			15.80			17.29			17.52			15.97
Net interest margin	3.69			3.78			3.86			3.48			3.59			N/A
Efficiency ratio	54.14			61.28			56.99			52.08			50.24			56.41
Net charge-off ratio	0.13			0.19			0.29			N/A			N/A			N/A
NPA ratio	0.39			0.44			0.50			N/A			N/A			N/A

“Our results in the second quarter reflect the strength of our core business and our geography, with broad-based loan growth and solid credit and profitability metrics,” said Kessel D. Stelling, Synovus chairman and CEO.  “We are pleased with the early wins in our expanded Florida footprint as we introduce our broader capabilities to new customers and prospects.  We not only expect continued successes in that region, but across our entire footprint, as our core and specialty bankers work together to serve customers.  The real and sustaining competitive differentiator for our company remains our talented team that is passionate about the important work they do and proud to represent our brand of relationship-centered banking and financial services in our markets.”

Balance Sheet

Loans**
(dollars in millions)	2Q19			1Q19			Linked Quarter Change		Linked Quarter % Change*		2Q18			Year/Year Change			Year/Year % Change
Commercial & industrial	$	16,247.5		$	16,127.6		$	119.9	3.0	%	$	12,275.5		$	3,972.1		32.4	%
Commercial real estate	10,348.4			10,268.4			80.0		3.1		6,644.2			3,704.3			55.8
Consumer	9,566.1			9,262.1			304.0		13.2		6,237.1			3,329.0			53.4
Unearned income	(23.6		)	(23.7		)	0.1		(1.7	)	(22.7		)	(0.9		)	3.8
Total loans	$	36,138.6		$	35,634.5		$	504.1	5.7	%	$	25,134.1		$	11,004.5		43.8	%

^*  Annualized

^**  Amounts may not total due to rounding

• Total loans ended the quarter at $36.14 billion, up $504.1 million or 5.7% annualized from the previous quarter, with growth across all categories.

• Steady growth in commercial and industrial loans, with strong contributions from a number of markets and teams.

• Commercial real estate loan growth led by investment properties, including multi-family, hotel and shopping centers, which grew a combined $121.2 million, partially offset by declines in office and warehouse.

Continued positive trends in the consumer category, driven by lending partnerships, up $211.9 million, and by mortgage and HELOC growth, up $42.1 million and $44.5 million, respectively.

Deposits**
(dollars in millions)	2Q19		1Q19		Linked Quarter Change			Linked Quarter % Change*		2Q18		Year/Year Change		Year/Year % Change
Non-interest-bearing DDA	$	8,577.6	$	8,440.5	$	137.1		6.5	%	$	6,820.0	$	1,757.6	25.8	%
Interest-bearing DDA	4,847.2		4,911.2		(64.0		)	(5.2	)	4,060.3		786.9		19.4
Money market	8,952.9		8,912.5		40.3			1.8		7,388.2		1,564.7		21.2
Savings	891.2		903.8		(12.6		)	(5.6	)	822.6		68.6		8.3
Public funds	4,351.3		4,630.0		(278.7		)	(24.1	)	2,224.6		2,126.7		95.6
Time deposits	7,343.0		7,568.1		(225.1		)	(11.9	)	3,275.9		4,067.0		124.1
Brokered deposits	3,003.5		2,709.0		294.5			43.6		1,851.0		1,152.5		62.3
Total deposits	$	37,966.7	$	38,075.2	$	(108.5	)	(1.1	)%	$	26,442.7	$	11,524.0	43.6	%

^*  Annualized

^**  Amounts may not total due to rounding

• Total deposits ended the quarter at $37.97 billion, down $108.5 million or 1.1% annualized from first quarter2019.

• Managed deposit cost and mix during the quarter, with growth in core transaction deposits of $100.8 million and a lower composition of public funds and CDs. Core transaction deposits consist of non-interest bearing, NOW/savings, and money market deposits excluding public funds.

• The decline in public funds and CDs was partially offset by growth in brokered deposits of $294.5 million, which replaced maturing CDs at shorter durations and lower rates.

• On an average basis, non-interest bearing demand deposit accounts grew $249.9 million, or 11.1% annualized over the first quarter. Excluding the impact of public funds deposit runoff, non-interest bearing demand deposits increased $312.4 million from the previous quarter.

• The loan to deposit ratio was 95.2%, up from 93.6% in the prior quarter.

Income Statement Summary**
(in thousands, except per share data)	2Q19		1Q19		Linked Quarter Change			Linked Quarter % Change		2Q18		Year/Year Change		Year/Year % Change
Net interest income	$	397,262	$	397,175	$	87		nm		$	284,577	$	112,685	39.6	%
Non-interest income	89,807		79,378		10,429			13.1	%	73,387		16,420		22.4
Non-interest expense	264,126		292,410		(28,284		)	(9.7	)	204,057		60,069		29.4
Provision expense	12,119		23,569		(11,450		)	(48.6	)	11,790		329		2.8
Income before taxes	$	210,824	$	160,574	$	50,250		31.3	%	$	142,117	$	68,707	48.3	%
Income tax expense	54,640		40,388		14,252			35.3		30,936		23,704		76.6
Preferred stock dividends	3,150		3,150		—			nm		2,559		591		23.1
Net income available to common shareholders	$	153,034	$	117,036	$	35,998		30.8	%	$	108,622	$	44,412	40.9	%
Weighted average common shares outstanding, diluted	159,077		162,760		(3,683		)	(2.3	)	119,139		39,938		33.5
Diluted earnings per share	$	0.96	$	0.72	$	0.24		33.8	%	$	0.91	$	0.05	5.5	%
Adjusted diluted earnings per share	$	1.00	$	0.98	$	0.02		1.5	%	$	0.92	$	0.08	8.4	%

^**  Amounts may not total due to rounding

nm - not meaningful

Core Performance

• Total revenues were $487.9 million in the second quarter, up $10.7 million or 2.2% from the previous quarter.

• Net interest income was flat compared to the prior quarter.

• Net interest margin was 3.69%, down 9 basis points from the previous quarter; includes $21.0 million or 21 basis points of purchase accounting adjustments (PAA) compared to $18.8 million or 19 basis points in first quarter.

◦ The sequential decrease in net interest margin was driven by the declining rate environment and full quarter effect of subordinated debt that was issued in the first quarter.

◦ Excluding the impact of PAA, earning asset yields declined 3 basis points and the effective cost of funds increased 8 basis points.

• Non-interest income increased $10.4 million or 13.1% from the prior quarter and $16.4 million or 22.4% compared to second quarter 2018.

◦ The sequential increase was primarily attributable to a $3.5 million, or 70.9%, increase in capital markets income and a $2.8 million, or 56.4%, increase in mortgage banking income.

• Non-interest expense declined $28.3 million or 9.7% due to lower merger-related expenses, and adjusted non-interest expense increased $14.1 million or 5.8% from the prior quarter.

◦ The increase in adjusted expenses resulted mainly from higher producer commissions, increased servicing fees related to growth in our lending partnership portfolio, and higher consulting fees tied to various business and technology initiatives.

◦ Employment taxes were seasonally lower by $3.3 million.

• Provision expense was $12.1 million, an $11.5 million decrease from the previous quarter, primarily due to lower charge-off activity.

• The effective tax rate was 25.9% for the quarter.

Capital Ratios
	2Q19			1Q19		2Q18
Common equity Tier 1 capital (CET1) ratio	9.61	%	(1)	9.52	%	10.12	%
Tier 1 capital ratio	10.09		(1)	10.01		11.25
Total risk-based capital ratio	12.11		(1)	12.06		13.08
Tier 1 leverage ratio	8.92		(1)	8.81		10.03
Tangible common equity ratio(2)	8.56			8.30		8.77

⁽¹⁾  Ratios are preliminary

⁽²⁾  Non-GAAP measure; see applicable reconciliation

Capital

• Capital ratios remained strong and all increased slightly during the quarter.

• During the second quarter2019, Synovus announced an increase in the share repurchase authorization from $400 million to $725 million, and completed repurchases of $25.0 million.

◦ Year-to-date share repurchases total $345.0 million and share count has declined by 8.0% since January 1, 2019.

• During the second quarter2019, Synovus announced and priced a public offering of $350 million of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E. This transaction closed on July 1 and is not included in second quarter results.

Second Quarter Earnings Conference Call

Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on July 16, 2019. 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 investor.synovus.com/event. 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 $47 billion in assets. Synovus provides commercial and retail banking, investment, and mortgage services through 297 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank, a wholly owned subsidiary of Synovus, was named one of American Banker’s “Best Banks to Work For” in 2018 and has been recognized as one of the country's “Most Reputable Banks” by American Banker and the Reputation Institute. Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram.

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 deposit growth, loan growth and the net interest margin; expectations on our growth strategy, strategic transactions (including the FCB

transaction), expense initiatives, capital management and future profitability; expectations on credit trends and key credit metrics; 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, 2018, 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.

Non-GAAP Financial Measures

The measures entitled adjusted non-interest income; adjusted non-interest expense; adjusted total revenues; adjusted tangible efficiency ratio; adjusted net income available to common shareholders; adjusted earnings per diluted 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 common equity Tier 1 capital (CET1) ratio (fully phased-in) 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 income; total non-interest expense; total revenues; efficiency ratio-FTE; net income available to common shareholders; earnings per diluted common share; return on average assets; return on average common equity; the ratio of total shareholders' equity to total assets; and the CET1 capital ratio, 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 total revenues and adjusted non-interest income are measures used by management to evaluate total revenues and non-interest income exclusive of net investment securities gains (losses) and changes in the fair value of private equity investments, net. 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 earnings per diluted 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 and common equity Tier 1 capital (CET1) ratio (fully phased-in) are used by management and bank regulators to assess the strength of our capital position. The computations of these measures are set forth in the tables below.

Reconciliation of Non-GAAP Financial Measures
(dollars in thousands)	2Q19			1Q19			2Q18
Adjusted non-interest income
Total non-interest income	$	89,807		$	79,378		$	73,387
Add/subtract: Investment securities losses (gains), net	1,845			(75		)	1,296
Subtract/add: (Increase) decrease in fair value of private equity investments, net	(1,455		)	(858		)	37
Adjusted non-interest income	$	90,197		$	78,445		$	74,720
Adjusted non-interest expense
Total non-interest expense	$	264,126		$	292,410		$	204,057
Subtract: Merger-related expense	(7,401		)	(49,738		)	—
Add: Litigation settlement/contingency expense	—			—			1,400
Subtract: Restructuring charges, net	(18		)	(19		)	(103		)
Subtract: Fair value adjustment to Visa derivative	$	—		$	—		$	(2,328	)
Adjusted non-interest expense	$	256,707		$	242,653		$	203,026
Adjusted total revenues and adjusted tangible efficiency ratio
Adjusted non-interest expense	$	256,707		$	242,653		$	203,026
Subtract: Amortization of intangibles	(2,410		)	(3,392		)	(292		)
Adjusted tangible non-interest expense	$	254,297		$	239,261		$	202,734
Net interest income	$	397,262		$	397,175		$	284,577
Add: Tax equivalent adjustment	811			630			120
Add: Total non-interest income	89,807			79,378			73,387
Total FTE revenues	487,880			477,183			358,084
Add/subtract: Investment securities losses (gains), net	1,845			(75		)	1,296
Subtract/add: (Increase) decrease in fair value of private equity investments, net	(1,455		)	(858		)	37
Adjusted total revenues	$	488,270		$	476,250		$	359,417
Efficiency ratio-FTE	54.14		%	61.28		%	56.99		%
Adjusted tangible efficiency ratio	52.08			50.24			56.41

Reconciliation of Non-GAAP Financial Measures, continued
(in thousands, except per share data)	2Q19			1Q19			2Q18
Adjusted Return on Average Assets
Net income	$	156,184		$	120,186		$	111,181
Subtract: Income tax expense, net related to State Tax Reform	—			—			(608		)
Add: Merger-related expense	7,401			49,738			—
Subtract: Litigation settlement/contingency expense	—			—			(1,400		)
Add: Restructuring charges, net	18			19			103
Add: Fair value adjustment to Visa derivative	—			—			2,328
Add/subtract: Investment securities losses (gains), net	1,845			(75		)	1,296
Subtract/add: (Increase) decrease in fair value of private equity investments, net	(1,455		)	(858		)	37
Subtract: Tax effect of adjustments	(1,951		)	(5,705		)	(554		)
Adjusted net income	$	162,042		$	163,305		$	112,383
Net income annualized	$	626,452		$	487,421		$	445,946
Adjusted net income annualized	$	649,949		$	662,293		$	450,767
Total average assets	$	46,549,432		$	45,794,621		$	31,502,758
Return on average assets	1.35		%	1.06		%	1.42		%
Adjusted return on average assets	1.40			1.45			1.43
Adjusted net income available to common shareholders and adjusted net income per common share, diluted
Net income available to common shareholders	$	153,034		$	117,036		$	108,622
Subtract: Income tax expense, net related to State Tax Reform	—			—			(608		)
Add: Merger-related expense	7,401			49,738			—
Subtract: Litigation settlement/contingency expense	—			—			(1,400		)
Add: Restructuring charges, net	18			19			103
Add: Fair value adjustment to Visa derivative	—			—			2,328
Add/subtract: Investment securities losses (gains), net	1,845			(75		)	1,296
Subtract/add: (Increase) decrease in fair value of private equity investments, net	(1,455		)	(858		)	37
Subtract: Tax effect of adjustments	(1,951		)	(5,705		)	(554		)
Adjusted net income available to common shareholders	$	158,892		$	160,155		$	109,824
Weighted average common shares outstanding, diluted	159,077			162,760			119,139
Net income per common share, diluted	$	0.96		$	0.72		$	0.91
Adjusted net income per common share, diluted	1.00			0.98			0.92

Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)	2Q19			1Q19			2Q18
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	$	153,034		$	117,036		$	108,622
Subtract: Income tax expense, net related to State Tax Reform	—			—			(608		)
Add: Merger-related expense	7,401			49,738			—
Subtract: Litigation settlement/contingency expense	—			—			(1,400		)
Add: Restructuring charges, net	18			19			103
Add: Fair value adjustment to Visa derivative	—			—			2,328
Add/subtract: Investment securities losses (gains), net	1,845			(75		)	1,296
Subtract/add: (Increase) decrease in fair value of private equity investments, net	(1,455		)	(858		)	37
Subtract: Tax effect of adjustments	(1,951		)	(5,705		)	(554		)
Adjusted net income available to common shareholders	$	158,892		$	160,155		$	109,824
Adjusted net income available to common shareholders annualized	$	637,314		$	649,518		$	440,502
Add: Amortization of intangibles	7,250			10,317			896
Adjusted net income available to common shareholders excluding amortization of intangibles annualized	$	644,564		$	659,835		$	441,398
Net income available to common shareholders annualized	$	613,818		$	474,646		$	435,682
Add: Amortization of intangibles	7,250			10,317			896
Net income available to common shareholders excluding amortization of intangibles annualized	$	621,068		$	484,963		$	436,578
Total average shareholders' equity less preferred stock	$	4,286,369		$	4,321,561		$	2,831,368
Subtract: Goodwill	(487,601		)	(480,215		)	(57,315		)
Subtract: Other intangible assets, net	(69,853		)	(75,191		)	(10,555		)
Total average tangible shareholders' equity less preferred stock	$	3,728,915		$	3,766,155		$	2,763,498
Return on average common equity	14.32		%	10.98		%	15.39		%
Adjusted return on average common equity	14.87			15.03			15.56
Return on average tangible common equity	16.66			12.88			15.80
Adjusted return on average tangible common equity	17.29			17.52			15.97

Reconciliation of Non-GAAP Financial Measures, continued
	June 30,			March 31,			June 30,
(dollars in thousands)	2019			2019			2018
Tangible Common Equity Ratio
Total assets	$	47,318,203		$	46,604,344		$	31,740,305
Subtract: Goodwill	(492,390		)	(480,215		)	(57,315		)
Subtract: Other intangible assets, net	(61,473		)	(74,683		)	(10,458		)
Tangible assets	$	46,764,340		$	46,049,446		$	31,672,532
Total shareholders’ equity	$	4,753,816		$	4,572,072		$	3,167,694
Subtract: Goodwill	(492,390		)	(480,215		)	(57,315		)
Subtract: Other intangible assets, net	(61,473		)	(74,683		)	(10,458		)
Subtract: Preferred Stock, no par value	(195,140		)	(195,140		)	(321,118		)
Tangible common equity	$	4,004,813		$	3,822,034		$	2,778,803
Total shareholders’ equity to total assets ratio	10.05		%	9.81		%	9.98		%
Tangible common equity ratio	8.56			8.30			8.77

Reconciliation of Non-GAAP Financial Measures, continued
	June 30,
(dollars in thousands)	2019
CET1 capital ratio (fully phased-in)
CET1 capital	$	3,899,532
Total risk-weighted assets	$	40,564,781
Total risk-weighted assets (fully phased-in)	$	40,633,187
CET1 capital ratio	9.61		%
CET1 capital ratio (fully phased-in)	9.60

EX-99.2

Synovus								Exhibit 99.2
	INCOME STATEMENT DATA
	(Unaudited)	Six Months Ended
	(Dollars in thousands, except per share data)	June 30,
		2019			2018			% Change
	Interest income	$	1,020,970		$	642,968		58.8	%
	Interest expense	226,532			84,107			169.3
	Net interest income	794,438			558,861			42.2
	Provision for loan losses	35,688			24,566			45.3
	Net interest income after provision for loan losses	758,750			534,295			42.0
	Non-interest income:
	Service charges on deposit accounts	42,853			39,938			7.3
	Fiduciary and asset management fees	28,057			27,419			2.3
	Card fees	22,037			21,032			4.8
	Brokerage revenue	19,431			17,085			13.7
	Capital markets income	13,291			2,086			nm
	Mortgage banking income	12,962			9,887			31.1
	Income from bank-owned life insurance	10,466			7,949			31.7
	Investment securities losses, net	(1,771		)	(1,296		)	nm
	Increase/(decrease) in fair value of private equity investments, net	2,313			(3,093		)	nm
	Other non-interest income	19,546			19,426			0.6
	Total non-interest income	169,185			140,433			20.5
	Non-interest expense:
	Salaries and other personnel expense	282,436			225,583			25.2
	Net occupancy and equipment expense	78,245			64,134			22.0
	Third-party processing expense	36,875			29,012			27.1
	Professional fees	15,660			11,789			32.8
	FDIC insurance and other regulatory fees	14,629			13,335			9.7
	Advertising expense	11,045			10,312			7.1
	Merger-related expense	57,140			—			nm
	Amortization of intangibles	5,802			583			nm
	Other operating expenses	54,705			44,486			23.0
	Total non-interest expense	556,537			399,234			39.4
	Income before income taxes	371,398			275,494			34.8
	Income tax expense	95,028			61,146			55.4
	Net income	276,370			214,348			28.9
	Less: Preferred stock dividends	6,300			5,119			23.1
	Net income available to common shareholders	$	270,070		$	209,229		29.1	%
	Net income per common share, basic	1.70			1.77			(3.9	)%
	Net income per common share, diluted	1.68			1.75			(4.4	)
	Cash dividends declared per common share	0.60			0.50			20.0
	Return on average assets*	1.21		%	1.38			(17	)bps
	Return on average common equity*	12.65			15.01			(236	)
	Weighted average common shares outstanding, basic	159,148			118,531			34.3	%
	Weighted average common shares outstanding, diluted	160,908			119,229			35.0
	nm - not meaningful
	bps - basis points
	* - ratios are annualized

Synovus
	INCOME STATEMENT DATA
	(Unaudited)
	(In thousands, except per share data)	2019				2018					Second Quarter
		Second Quarter			First Quarter	Fourth Quarter		Third Quarter	Second Quarter		'19 vs '18
											% Change
	Interest income	$	516,131		504,839	357,394		343,942	329,834		56.5	%
	Interest expense	118,869			107,664	59,461		52,323	45,257		162.7
	Net interest income	397,262			397,175	297,933		291,619	284,577		39.6
	Provision for loan losses	12,119			23,569	12,148		14,982	11,790		2.8
	Net interest income after provision for loan losses	385,143			373,606	285,785		276,637	272,787		41.2
	Non-interest income:
	Service charges on deposit accounts	21,994			20,859	20,320		20,582	19,999		10.0
	Fiduciary and asset management fees	14,478			13,578	13,805		13,462	13,983		3.5
	Card fees	11,161			10,877	10,862		10,608	10,833		3.0
	Brokerage revenue	10,052			9,379	9,241		9,041	8,709		15.4
	Capital markets income	8,385			4,906	1,693		836	1,118		nm
	Mortgage banking income	7,907			5,054	3,781		5,290	4,839		63.4
	Income from bank-owned life insurance	5,176			5,290	3,682		3,771	3,733		38.7
	Investment securities (losses)/gains, net	(1,845		)	75	—		—	(1,296	)	nm
	Increase/(decrease) in fair value of private equity investments, net	1,455			858	(2,084	)	434	(37	)	nm
	Other non-interest income	11,044			8,502	6,691		7,644	11,506		(4.0	)
	Total non-interest income	89,807			79,378	67,991		71,668	73,387		22.4
	Non-interest expense:
	Salaries and other personnel expense	143,009			139,427	113,496		114,341	111,863		27.8
	Net occupancy and equipment expense	39,851			38,394	34,260		32,088	32,654		22.0
	Third-party processing expense	19,118			17,758	14,803		14,810	15,067		26.9
	Professional Fees	9,312			6,348	8,650		6,298	6,284		48.2
	FDIC insurance and other regulatory fees	7,867			6,761	4,728		6,430	6,543		20.2
	Advertising expense	5,923			5,123	6,834		3,735	5,220		13.5
	Earnout liability adjustments	—			—	—		11,652	—		nm
	Merger-related expense	7,401			49,738	3,381		6,684	—		nm
	Amortization of intangibles	2,410			3,392	292		292	292		nm
	Other operating expenses	29,235			25,469	23,478		23,967	26,134		11.9
	Total non-interest expense	264,126			292,410	209,922		220,297	204,057		29.4
	Income before income taxes	210,824			160,574	143,854		128,008	142,117		48.3
	Income tax expense	54,640			40,388	38,784		18,949	30,936		76.6
	Net income	156,184			120,186	105,070		109,059	111,181		40.5
	Less: Preferred stock dividends and redemption charge	3,150			3,150	3,151		9,729	2,559		23.1
	Net income available to common shareholders	$	153,034		117,036	101,919		99,330	108,622		40.9
	Net income per common share, basic	$	0.97		0.73	0.88		0.85	0.92		6.0	%
	Net income per common share, diluted	0.96			0.72	0.87		0.84	0.91		5.5
	Cash dividends declared per common share	0.30			0.30	0.25		0.25	0.25		20.0
	Return on average assets *	1.35		%	1.06	1.29		1.36	1.42		(7	)bps
	Return on average common equity *	14.32			10.98	14.25		13.95	15.39		(107	)
	Weighted average common shares outstanding, basic	157,389			160,927	116,303		117,241	118,397		32.9	%
	Weighted average common shares outstanding, diluted	159,077			162,760	116,986		118,095	119,139		33.5
	nm - not meaningful
	bps - basis points
	* - ratios are annualized

Synovus
	BALANCE SHEET DATA	June 30, 2019			December 31, 2018			June 30, 2018
	(Unaudited)
	(In thousands, except share data)
	ASSETS
	Cash and due from banks	$	549,616		$	468,426		$	404,080
	Interest-bearing funds with Federal Reserve Bank	531,488			641,476			613,082
	Interest earning deposits with banks	20,271			19,841			33,754
	Federal funds sold and securities purchased under resale agreements	49,946			13,821			40,872
	Cash and cash equivalents	1,151,321			1,143,564			1,091,788
	Investment securities available for sale, at fair value	7,007,012			3,991,632			3,929,962
	Mortgage loans held for sale, at fair value	81,855			37,129			53,673
	Loans	36,138,561			25,946,573			25,134,056
	Allowance for loan losses	(257,376		)	(250,555		)	(251,725		)
	Loans, net	35,881,185			25,696,018			24,882,331
	Cash surrender value of bank-owned life insurance	766,287			554,134			547,261
	Premises and equipment, net	490,644			434,307			428,633
	Goodwill	492,390			57,315			57,315
	Other intangible assets	61,473			9,875			10,458
	Other assets	1,386,036			745,218			738,884
	Total assets	$	47,318,203		$	32,669,192		$	31,740,305
	LIABILITIES AND SHAREHOLDERS' EQUITY
	Liabilities:
	Deposits:
	Non-interest-bearing deposits	$	9,205,066		$	7,650,967		$	7,630,491
	Interest-bearing deposits	28,761,656			19,069,355			18,812,197
	Total deposits	37,966,722			26,720,322			26,442,688
	Federal funds purchased and securities sold under repurchase agreements	273,481			237,692			207,580
	Other short-term borrowings	1,330,000			650,000			—
	Long-term debt	2,306,072			1,657,157			1,656,647
	Other liabilities	688,112			270,419			265,696
	Total liabilities	42,564,387			29,535,590			28,572,611
	Shareholders' equity:
	Series C Preferred Stock - no par value; 5,200,000 outstanding at June 30, 2018	—			—			125,980
	Series D Preferred Stock - no par value. Authorized 100,000,000 shares; 8,000,000 shares issued and outstanding at June 30, 2019, December 31, 2018, and June 30, 2018	195,140			195,140			195,138
	Common stock - $1.00 par value. Authorized 342,857,143 shares; 166,079,543 issued at June 30, 2019, 143,300,449 issued at December 31, 2018, and 143,077,973 issued at June 30, 2018; 156,872,026 outstanding at June 30, 2019, 115,865,510 outstanding at December 31, 2018, and 117,841,369 outstanding at June 30, 2018	166,080			143,300			143,078
	Additional paid-in capital	3,801,748			3,060,561			3,045,014
	Treasury stock, at cost – 9,207,517 shares at June 30, 2019, 27,434,939 shares at December 31, 2018, and 25,236,604 shares at June 30, 2018	(344,901		)	(1,014,746		)	(916,484		)
	Accumulated other comprehensive income (loss), net	49,289			(94,420		)	(125,720		)
	Retained earnings	886,460			843,767			700,688
	Total shareholders’ equity	4,753,816			3,133,602			3,167,694
	Total liabilities and shareholders' equity	$	47,318,203		$	32,669,192		$	31,740,305

Synovus
	AVERAGE BALANCES AND YIELDS/RATES (1)
	(Unaudited)
	(Dollars in thousands)
		2019					2018
		Second			First		Fourth		Third		Second
		Quarter			Quarter		Quarter		Quarter		Quarter
	Interest Earning Assets
	Taxable investment securities (2)	$	6,953,278		6,515,561		4,073,685		4,061,239		4,077,564
	Yield	3.04		%	3.05		2.45		2.38		2.34
	Tax-exempt investment securities(2)(4)	$	2,108		20,638		—		89		115
	Yield (taxable equivalent)	4.91		%	4.45		—		5.91		6.87
	Trading account assets(5)	$	4,853		2,049		7,493		16,646		23,772
	Yield	1.83		%	1.30		1.90		2.52		2.79
	Commercial loans(3)(4)	$	26,353,973		26,140,672		19,150,252		19,025,830		18,857,271
	Yield	5.13		%	5.16		5.13		4.98		4.85
	Consumer loans(3)	$	9,423,427		9,180,679		6,476,026		6,298,643		6,092,899
	Yield	5.17		%	5.10		4.85		4.80		4.76
	Allowance for loan losses	$	(259,284	)	(252,815	)	(251,098	)	(251,684	)	(257,966	)
	Loans, net(3)	$	35,518,116		35,068,536		25,375,180		25,072,789		24,692,204
	Yield	5.17		%	5.17		5.11		4.99		4.88
	Mortgage loans held for sale	$	70,497		34,913		36,477		49,030		50,366
	Yield	4.27		%	4.48		4.79		4.71		4.42
	Federal funds sold, due from Federal Reserve Bank, and other short-term investments	$	511,488		679,477		641,832		544,704		724,537
	Yield	2.37		%	2.45		2.20		1.90		1.77
	Federal Home Loan Bank and Federal Reserve Bank Stock(5)	$	234,949		211,408		162,369		163,568		165,845
	Yield	3.29		%	4.82		4.31		4.41		4.63
	Total interest earning assets	$	43,295,289		42,532,582		30,297,036		29,908,065		29,734,403
	Yield	4.79		%	4.80		4.69		4.58		4.47
	Interest-Bearing Liabilities
	Interest-bearing demand deposits	$	6,335,953		6,393,304		4,692,804		4,701,204		5,001,826
	Rate	0.71		%	0.68		0.41		0.38		0.35
	Money Market accounts	$	10,024,836		10,244,556		8,050,732		7,936,621		7,791,107
	Rate	1.23		%	1.18		0.89		0.72		0.55
	Savings deposits	$	904,183		901,059		815,588		824,935		829,800
	Rate	0.05		%	0.06		0.04		0.03		0.03
	Time deposits under $100,000	$	2,245,878		2,238,568		1,242,811		1,205,987		1,161,890
	Rate	1.39		%	1.24		1.16		0.99		0.82
	Time deposits over $100,000	$	6,331,665		6,211,067		2,478,649		2,273,582		2,021,084
	Rate	1.70		%	1.60		1.67		1.46		1.22
	Non-maturing brokered deposits	$	766,718		937,629		349,480		358,277		262,976
	Rate	2.46		%	2.60		2.46		2.10		1.94
	Brokered time deposits	$	1,985,589		1,845,819		1,275,276		1,414,700		1,659,941
	Rate	2.28		%	2.13		2.03		1.94		1.85
	Total interest-bearing deposits	$	28,594,822		28,772,002		18,905,340		18,715,306		18,728,624
	Rate	1.30		%	1.24		0.96		0.83		0.70
	Federal funds purchased and securities sold under repurchase agreements	$	300,168		233,076		194,370		230,504		207,655
	Rate	0.20		%	0.22		0.18		0.25		0.35
	Other short-term borrowings	$	1,090,581		517,456		112,228		146,794		3,024
	Rate	2.59		%	2.58		2.51		2.12		2.84
	Long-term debt	$	2,114,819		1,983,910		1,657,022		1,656,743		1,852,094
	Rate	3.53		%	3.33		3.06		2.87		2.66
	Total interest-bearing liabilities	$	32,100,390		31,506,444		20,868,960		20,749,347		20,791,397
	Rate	1.48		%	1.38		1.12		0.99		0.87
	Non-interest-bearing demand deposits	$	9,304,839		9,054,949		8,014,761		7,672,006		7,539,451
	Cost of funds	1.15		%	1.07		0.81		0.73		0.64
	Net interest margin	3.69		%	3.78		3.92		3.89		3.86
	Taxable equivalent adjustment	$	811		630		181		136		120
	(1) Yields and rates are annualized.
	(2) Excludes net unrealized gains and losses.
	(3) Average loans are shown net of unearned income. Non-performing loans are included.
	(4) Reflects taxable-equivalent adjustments, using the statutory federal income tax rate of 21%, in adjusting interest on tax-exempt loans and investment securities to a taxable-equivalent basis.
	(5) Included as a component of other assets on the consolidated balance sheet.

Synovus
LOANS OUTSTANDING BY TYPE
(Unaudited)
(Dollars in thousands)
	Total Loans			Total Originated Loans		Total Acquired Loans (1)	Total Loans (1)		Linked Quarter		Total Loans			Year/Year
Loan Type	June 30, 2019			June 30, 2019		June 30, 2019	March 31, 2019		% Change(2)		June 30, 2018			% Change
Commercial, Financial, and Agricultural	$	9,717,746		7,800,635		1,917,111	9,566,935		6.3	%	$	7,271,080		33.6	%
Owner-Occupied	6,529,797			5,366,404		1,163,393	6,560,681		(1.9	)	5,004,392			30.5
Total Commercial & Industrial	16,247,543			13,167,039		3,080,504	16,127,616		3.0		12,275,472			32.4
Multi-Family	2,113,938			1,342,157		771,781	2,077,666		7.0		1,358,211			55.6
Hotels	1,244,512			761,387		483,125	1,179,395		22.1		755,125			64.8
Office Buildings	2,291,617			1,495,989		795,628	2,300,671		(1.6	)	1,429,166			60.3
Shopping Centers	1,677,555			919,244		758,311	1,657,789		4.8		811,186			106.8
Warehouses	696,692			581,980		114,712	725,862		(16.1	)	602,707			15.6
Other Investment Property	980,786			826,949		153,837	979,579		0.5		553,201			77.3
Total Investment Properties	9,005,100			5,927,706		3,077,394	8,920,962		3.8		5,509,596			63.4
1-4 Family Construction	219,032			174,242		44,790	215,881		5.9		177,140			23.6
1-4 Family Investment Mortgage	528,358			469,206		59,152	549,120		(15.2	)	543,570			(2.8	)
Total 1-4 Family Properties	747,390			643,448		103,942	765,001		(9.2	)	720,710			3.7
Commercial Development	138,840			65,111		73,729	147,516		(23.6	)	61,375			126.2
Residential Development	218,850			126,827		92,023	215,814		5.6		100,246			118.3
Land Acquisition	238,267			172,750		65,517	219,146		35.0		252,244			(5.5	)
Land and Development	595,957			364,688		231,269	582,476		9.3		413,865			44.0
Total Commercial Real Estate	10,348,447			6,935,842		3,412,605	10,268,439		3.1		6,644,171			55.8
Consumer Mortgages	5,407,762			3,194,027		2,213,735	5,365,635		3.1		2,750,935			96.6
Home Equity Lines	1,650,745			1,587,854		62,891	1,606,227		11.1		1,453,855			13.5
Credit Cards	258,283			258,283		—	252,762		8.8		238,424			8.3
Other Consumer Loans	2,249,337			2,237,406		11,931	2,037,477		41.7		1,793,916			25.4
Total Consumer	9,566,127			7,277,570		2,288,557	9,262,101		13.2		6,237,130			53.4
Unearned Income	(23,556		)	(23,556	)	—	(23,655	)	(1.7	)	(22,717		)	3.7
Total	$	36,138,561		27,356,895		8,781,666	35,634,501		5.7	%	$	25,134,056		43.8	%
(1)On 1/1/19 $9.29 B of loans (at fair value) were acquired from FCB. The amounts presented in these columns are net of paydowns and payoffs since acquisition date.
(2) Percentage change is annualized.
NON-PERFORMING LOANS COMPOSITION(1)
(Unaudited)
(Dollars in thousands)	Total Non-performing Loans			Total Originated Non-performing Loans		Total Acquired Non-performing Loans(2)	Total Non-performing Loans(3)		Linked Quarter		Total Non-performing Loans			Year/Year
Loan Type	June 30, 2019			June 30, 2019		June 30, 2019	March 31, 2019		% Change		June 30, 2018			% Change
Commercial, Financial, and Agricultural	$	72,934		68,573		4,361	85,917		(15.1	)%	$	81,231		(10.2	)%
Owner-Occupied	13,465			11,557		1,908	13,813		(2.5	)	6,076			121.6
Total Commercial & Industrial	86,399			80,130		6,269	99,730		(13.4	)	87,307			(1.0	)
Multi-Family	—			—		—	1,503		nm		176			nm
Hotels	—			—		—	7,346		nm		—			nm
Office Buildings	300			186		114	221		35.7		670			(55.2	)
Shopping Centers	671			613		58	676		(0.7	)	412			62.9
Warehouses	—			—		—	—		nm		21			nm
Other Investment Property	7			—		7	—		nm		459			nm
Total Investment Properties	978			799		179	9,746		(90.0	)	1,738			(43.7	)
1-4 Family Construction	208			208		—	445		(53.3	)	—			nm
1-4 Family Investment Mortgage	1,637			1,410		227	1,522		7.6		3,247			(49.6	)
Total 1-4 Family Properties	1,845			1,618		227	1,967		(6.2	)	3,247			(43.2	)
Commercial Development	—			—		—	46		nm		42			nm
Residential Development	1,253			1,253		—	1,569		(20.1	)	3,184			(60.6	)
Land Acquisition	1,482			1,482		—	1,035		43.2		1,398			6.0
Land and Development	2,735			2,735		—	2,650		3.2		4,624			(40.9	)
Total Commercial Real Estate	5,558			5,152		406	14,363		(61.3	)	9,609			(42.2	)
Consumer Mortgages	13,628			13,628		—	11,556		17.9		4,822			182.6
Home Equity Lines	13,830			13,494		336	14,078		(1.8	)	14,265			(3.0	)
Other Consumer Loans	4,667			4,667		—	4,249		9.8		1,325			252.2
Total Consumer	32,125			31,789		336	29,883		7.5		20,412			57.4
Total	$	124,082		117,071		7,011	143,976		(13.8	)%	$	117,328		5.8	%
(1) For purposes of this table, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income.
(2) Represents loans acquired from FCB and designated as non-accrual, net of payments and dispositions since acquisition date
(3) March 31, 2019 total non-performing loans included $23.5 million of acquired non-performing loans, net of payments since acquisition date

Synovus
	CREDIT QUALITY DATA
	(Unaudited)
	(Dollars in thousands)	2019				2018			Second Quarter
		Second			First	Fourth	Third	Second	'19 vs '18
		Quarter			Quarter	Quarter	Quarter	Quarter	% Change
	Non-performing Loans (1)	124,083			143,976	106,733	108,425	117,328	5.8	%
	Impaired Loans Held for Sale (2)	631			12	1,506	12	2,733	(76.9	)
	Other Real Estate	14,848			11,329	6,220	8,542	6,288	136.1
	Non-performing Assets (1)	139,562			155,317	114,459	116,979	126,349	10.5
	Allowance for loan losses	257,376			257,036	250,555	251,450	251,725	2.2
	Net Charge-Offs - Quarter	11,778			17,088	13,044	15,257	17,829
	Net Charge-Offs - YTD	28,867			17,088	50,410	37,366	22,109
	Net Charge-Offs / Average Loans - Quarter (3)	0.13		%	0.19	0.20	0.24	0.29
	Net Charge-Offs / Average Loans - YTD (3)	0.16			0.19	0.20	0.20	0.18
	Non-performing Loans / Loans (1)	0.34			0.40	0.41	0.42	0.47
	Non-performing Assets / Loans, Impaired Loans Held for Sale, & ORE (1)	0.39			0.44	0.44	0.46	0.50
	Allowance / Loans	0.71			0.72	0.97	0.98	1.00
	Allowance / Non-performing Loans (1)	207.42			178.53	234.75	231.91	214.55
	Allowance / Non-performing Loans excluding impaired and acquired loans with no reserve (1)	282.51			291.62	297.68	288.21	262.99
	Past Due Loans over 90 days and Still Accruing (1)	$	5,851		4,486	3,798	4,856	3,222	81.6
	As a Percentage of Loans Outstanding	0.02		%	0.01	0.01	0.02	0.01
	Total Past Due Loans and Still Accruing (1)	$	80,792		88,135	56,927	78,323	55,614	45.3
	As a Percentage of Loans Outstanding	0.22		%	0.25	0.22	0.31	0.22
	Accruing Troubled Debt Restructurings (TDRs)	$	126,369		112,205	115,588	114,740	125,310	0.8
	(1) For purposes of this table, 2019 non-performing loans and past due loans over 90 days exclude acquired loans accounted for under ASC 310-30 that are currently accruing income.
	(2) Represent impaired loans that have been specifically identified to be sold. Impaired loans held for sale are carried at the lower of cost or fair value, less costs to sell, based primarily on estimated sales proceeds net of selling costs.
	(3) Ratio is annualized.
	SELECTED CAPITAL INFORMATION (1)
	(Unaudited)
	(Dollars in thousands)
		June 30, 2019			December 31, 2018	June 30, 2018
	Tier 1 Capital	$	4,094,672		3,090,416	3,156,805
	Total Risk-Based Capital	4,913,043			3,601,376	3,668,904
	Common Equity Tier 1 Capital Ratio	9.61		%	9.95	10.12
	Common Equity Tier 1 Ratio (fully phased-in) (5)	9.60			9.92	10.06
	Tier 1 Capital Ratio	10.09			10.61	11.25
	Total Risk-Based Capital Ratio	12.11			12.37	13.08
	Tier 1 Leverage Ratio	8.92			9.60	10.03
	Common Equity as a Percentage of Total Assets (2)	9.63			8.99	8.97
	Tangible Common Equity Ratio (3) (5)	8.56			8.81	8.77
	Book Value Per Common Share (4)	$	29.06		25.36	24.16
	Tangible Book Value Per Common Share (3)	25.53			24.78	23.58
	(1) Current quarter regulatory capital information is preliminary.
	(2) Common equity consists of Total Shareholders' Equity less Preferred Stock.
	(3) Excludes the carrying value of goodwill and other intangible assets from common equity and total assets.
	(4) Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding.
	(5) See "Non-GAAP Financial Measures" of this report for applicable reconciliation.

EX-99.3

Exhibit 99.3 Second Quarter 2019 Results July 16, 2019

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,” “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 (1) future loan and deposit growth; (2) future revenue growth and net interest margin; (3) future non-interest expense levels; (4) future credit trends and key metrics; (5) future effective tax rates; (6) future capital return to common shareholders; (7) our strategy and initiatives for future growth, capital management, cost savings, and strategic transactions, including the FCB transaction; (8) future long-term financial targets; (9) our 2019 capital plan and 2019 outlook; 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, 2018 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 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; adjusted non-interest income; adjusted non-interest expense; adjusted tangible efficiency ratio; and tangible common equity ratio. The most comparable GAAP measures to these measures are diluted earnings per share; return on average assets; return on average common equity; total non-interest income; total non-interest expense; efficiency ratio; 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 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 non-interest income is a measure used by management to evaluate non-interest income exclusive of net investment securities gains (losses) and net changes in the fair value of private equity investments. 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 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. 2

Second Quarter 2019 Highlights Adjusted Reported Reported Adjusted Adjusted 2Q19 vs. 2Q19 2Q18 2Q19(1) 2Q18(1) 2Q18(1) Earnings per Share $0.96 $0.91 $1.00 $0.92 8.4% Return on Average Assets 1.35% 1.42% 1.40% 1.43% 3 bps Return on Average Common 14.32% 15.39% 14.87% 15.56% 69 bps Equity Return on Average Tangible 16.66% 15.80% 17.29% 15.97% 132 bps Common Equity(1) Efficiency Ratio 54.14% 56.99% 52.08% 56.41% 433 bps  Successfully converted all Florida Community Bank (FCB) systems, customers, branches, and branding to Synovus on May 6  Diluted EPS of $0.96 and adjusted diluted EPS(1) of $1.00, up 1.5% sequentially and up 8.4% year over year  Period-end loan growth of $504.1 million or 5.7%(2) sequentially  Non-interest income growth of 13.1% sequentially, or 15.0%(1) on an adjusted basis  Increased the 2019 share repurchase authorization from $400 million to $725 million  Announced and priced a public offering of $350 million of Series E Preferred Stock  Continued stable credit environment with NPAs declining to 0.39% (1) Non-GAAP financial measure; see appendix for applicable reconciliation 3 (2) Annualized

Loans Period-end Loan Balances (1) (in billions) (1) $35.63 $36.14  Sequential quarter period-end growth of $504.1 million or 5.7%(2) vs. 1Q19  C&I up $119.9 million 45.2% 16.25 44.9% (1) 16.11 $25.13  Consumer up $304.0 million  Growth driven by lending partnerships, HELOC, and mortgage 12.28 48.8%  CRE up $80.0 million  Investment properties up $84.1 26.0% 9.57 26.5% 9.29 million  Loan growth broad-based across markets 6.24 24.8%  Total average loan growth of $457.1 million or 5.2% vs. 1Q19 10.26 28.8% 10.35 28.6% 26.4% 6.64 (in millions) 2Q18 1Q19 2Q19 Sequential (3) quarter loan $251.0 $400.1 $504.1 growth: CRE Consumer C&I Amounts may not total due to rounding (1) Total loans are net of deferred fees, costs, discounts/premiums (2) Annualized 4 (3) Excludes $9.29 billion of loans acquired from FCB

Deposits Total Period-End Deposits $38.08 $37.97 (in billions)  Improved overall deposit mix with growth in 2.71 7.1% 3.00 7.9% core transaction deposits(3) 4.63 12.2% 4.35 11.5%  2Q19 total period-end deposits decreased $108.5 million or 1.1%(1) vs. 1Q19  Core transaction deposits(3) up $100.8 $26.44 7.57 19.9% 7.34 19.3% 1.85 7.0% million 2.22 8.4%  Public funds down $278.7 million 3.28 12.4%  CDs (excl. public funds) down $225.1 million  Brokered deposits up $294.5 million 61.3% 23.17 60.8% 23.27  2Q19 total average deposits increased $72.7 (1) 19.09 72.2% million or 0.8% vs. 1Q19  Average non-interest bearing DDA (excl. public funds) up $312.4 million  Loan to deposit ratio remained stable at 95% 2Q18 1Q19 2Q19 Sequential quarter deposit $189.2 $423.7(2) ($108.5) growth/decline: (3) Core transaction deposits Time Public funds Brokered Amounts may not total due to rounding (1) Annualized (2) Excludes $10.93 billion of deposits acquired from FCB (3) Core transaction deposits consist of non-interest bearing, NOW/savings, and money market deposits excluding public funds 5

Net interest income  Net interest income of $397.3 million was (dollars in millions) essentially flat with 1Q19 and increased $112.7 million or 39.6% vs. 2Q18, largely due to the $397.2 $397.3 FCB merger  Net interest margin of 3.69% down 9 bps vs. 1Q19; includes $21.0 million of purchase accounting adjustments vs. $18.8 million in $284.6 1Q19  The sequential decrease in NIM was driven by 3.86% the declining rate environment and full quarter 3.78% effect of sub-debt issuance 3.69%  Net interest margin excluding impact of purchase accounting adjustments was 3.48% 3.59% 1Q19 2Q19 (1) (1) 3.48% Metric GAAP Excl. PAA GAAP Excl. PAA Loan yield 5.17% 5.07% 5.17% 5.04% Earning assets 2Q18 1Q19 2Q19 yield 4.80% 4.71% 4.79% 4.68% Net Interest Income Effective cost of Net Interest Margin funds 1.02% 1.12% 1.10% 1.20% Net Interest Margin (excl. PAA)(1) Net Interest Margin 3.78% 3.59% 3.69% 3.48% (1) Purchase accounting adjustments (PAA) are primarily comprised of loan accretion and deposit premium amortization of $9.8 million and $11.0 million in 2Q 2019 and $7.4 million and $11.0 million in 1Q 2019 6

Non-interest income (in millions)  2Q19 non-interest income of $89.8 million increased $10.4 million vs. 1Q19 and $16.4 $89.8 million vs. 2Q18 9.5  2Q19 adjusted non-interest income(1) of $90.2 $79.4 million increased $11.8 million or 15.0% vs. $73.4 8.2 8.4 1Q19 and $15.5 million or 20.7% vs. 2Q18 5.4 1.1 4.9 7.9  Fiduciary/asset management, brokerage, and 4.8 5.1 insurance revenues of $25.8 million increased $1.4 million or 5.7% vs. 1Q19 and $1.2 million 24.6 24.4 25.8 or 5.1% vs. 2Q18  Assets under management of $15.82 billion increased 10.0% vs. 2Q18  Capital markets income of $8.4 million increased $3.5 million or 70.9% vs. 1Q19 and 37.4 36.8 38.2 $7.3 million or 650.0% vs. 2Q18  Mortgage banking income of $7.9 million was up $2.8 million or 56.4% vs. 1Q19 and $3.1 million or 63.4% vs. 2Q18 2Q18 1Q19 2Q19 Other income  Other income of $9.5 million increased $1.3 Capital markets income million or 15.6%, including a $2 million mark- Mortgage banking income to-market adjustment to deferred Fiduciary/asset management, brokerage, and insurance revenues compensation plan, which is offset in expenses Core banking fees (2) Amounts may not total due to rounding. (1) Non-GAAP financial measure; see appendix for applicable reconciliation 7 (2) Include service charges on deposit accounts, card fees, letter of credit fees, ATM fee income, line of credit non-usage fees, gains from sales of government guaranteed loans, and miscellaneous other service charges

Non-interest expense  2Q19 non-interest expense of $264.1 million (dollars in millions) decreased $28.3 million or 9.7% vs. 1Q19 and $292.4 increased $60.1 million or 29.4% vs. 2Q18 $49.7 $264.1 $256.7  2Q19 adjusted non-interest expense(1) of $242.7 $7.4 $256.7 million increased $14.1 million or 5.8% vs. 1Q19 and $53.7 million or 26.4% vs. 2Q18 $204.1 $203.0  Employment expenses up $3.6 million, primarily due to increased commissions, day count, and a mark-to-market adjustment to deferred compensation plan  Third-party processing up $1.4 million  Consulting fees up $2.1 million 2Q18 1Q19 2Q19 2Q18 1Q19 2Q19 Efficiency Reported – excl. merger related 56.99% 61.28% 54.14% Ratio Reported – merger related(2) Adjusted(1) Adjusted Tangible 56.41% 50.24% 52.08% Efficiency Ratio(1) (1) Non-GAAP financial measure; see appendix for applicable reconciliation 8 (2) Merger related expense related to FCB of $7.4 million and $49.7 million for 2Q19 and 1Q19, respectively

Credit Quality (dollars in millions) NPA, NPL, and Past Due Ratios Net Charge-offs 0.50% 0.46% 0.44% 0.44% 0.39% 0.47% 0.29% 0.42% 0.41% 0.40% (2) 0.24% 0.34% 0.20% 0.19% 0.31% 0.25% 0.22% 0.22% 0.22% 0.13% 0.29% $17.8 $15.3 $13.0 $17.1 $11.8 2Q18 3Q18 4Q18 1Q19 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 NPA Ratio NPL Ratio(1) Total Past Dues > 30 Days Ratio 0.07% 0.29%Net Charge-offs0.24% NCO0.20% Ratio 0.19% % Provision Expense Allowance for Loan Losses Ratio $251.7 $251.5 $250.6 138% 1.00% 0.98% 0.97% $27.7 103% $257.0 $257.4 98% 93% 0.72% 0.71% 66% 298% 292% 263% 288% 283% 215% 232% 235% 213% 219% $11.8 $15.0 $12.1 $23.6 $12.1 2Q18 3Q18 4Q18 1Q19 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 (3) Provision Expense Provision to Net Charge Offs Loan Loss Reserve LLR to NPLs(2) LLR to NPLs (1) Excludes impaired loans held for sale. June 30, 2019 and March 31, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income (2) Excludes impaired loans held for sale and FCB acquired NPLs that carry no reserve. June 30, 2019 and March 31, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income 9 (3) Excludes impaired loans with no reserves and FCB acquired NPLs that carry no reserve. June 30, 2019 and March 31, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income

Capital ratios 2Q18 1Q19 2Q19 (1) Common equity Tier 1 ratio 10.12 9.52 9.61 (1) Tier 1 capital ratio 11.25 10.01 10.09 (1) Total risk-based capital ratio 13.08 12.06 12.11 (1) Leverage ratio 10.03 8.81 8.92 Tangible common equity ratio(2) 8.77 8.30 8.56  Repurchased $25 million in common stock (732 thousand shares) during the quarter; year to date repurchases total $345 million  Share count reduced by 8.0% from January 1, 2019  Share repurchase authorization increased by $325 million to $725 million for 2019  On July 1, Synovus closed a public offering of $350 million of Series E Preferred Stock (1) Preliminary (2) Non-GAAP financial measure; see appendix for applicable reconciliation 10

2019 Outlook Metrics 2018 (1) 2019 Outlook Loan growth $35.37 billion 5.5% to 7.5%(2) Balance Sheet Deposit growth $37.61 billion 3.0% to 5.0%(2) Revenue Revenue growth(3) $1.83 billion 5.5% to 7.5% Non- Adjusted non-interest expense growth(4) $956.9 million 2% to 4%(5) interest Expense and Taxes Effective tax rate 21.94% 24 to 25% Net charge-off ratio 19 bps 15 to 20 bps Credit and Share repurchases $175 million Up to $725 million Capital Common dividend per share (year) $1.00 Up 20% to $1.20 (1) Pro forma combination of FCB and Synovus based on 2018 results (2) Loan and deposit growth based on 12/31/2018 combined period end balance (3) Assumes current forward curve (4) Non-GAAP financial measure; see appendix for applicable reconciliation (5) Growth excludes amortization of intangibles of approximately $12 million in 2019 11

Appendix

Quarterly Highlights Trend 2Q18 3Q18 4Q18 1Q19 2Q19 Diluted EPS 0.91 0.84 0.87 0.72 0.96 Net interest margin 3.86 3.89 3.92 3.78 3.69 Efficiency ratio 56.99 60.62 57.34 61.28 54.14 Financial Performance Adjusted tangible efficiency ratio(1) 56.41 55.55 55.98 50.24 52.08 ROA(2) 1.42 1.36 1.29 1.06 1.35 Adjusted ROA(1)(2) 1.43 1.47 1.36 1.45 1.40 Total loans 4.0 7.0 5.7 37.3 5.7 Balance Sheet Growth(3) Total average deposits 7.5 1.8 8.0 40.5 0.8 NPA ratio 0.50 0.46 0.44 0.44 0.39 Credit Quality NCO ratio(2) 0.29 0.24 0.20 0.19 0.13 Common shares outstanding(4) 117,841 116,714 115,866 157,454 156,872 CET1 ratio 10.12 9.90 9.95 9.52 9.61(5) Capital Tangible common equity ratio(1) 8.77 8.68 8.81 8.30 8.56 (1) Non-GAAP financial measure; see applicable reconciliation (2) Annualized (3) Sequential quarter growth, annualized except for 1Q19 (4) In thousands (5) Preliminary 13

Condensed Income Statement (in thousands, except per share data) 2Q19 1Q19 2Q18 Net interest income $ 397,262 $ 397,175 $ 284,577 Non-interest income 89,807 79,378 73,387 Non-interest expense (264,126) (292,410) (204,057) Provision expense (12,119) (23,569) (11,790) Income before taxes 210,824 160,574 142,117 Income tax expense 54,640 40,388 30,936 Preferred stock dividends 3,150 3,150 2,559 Net income available to common shareholders $ 153,034 $ 117,036 $ 108,622 Weighted average common shares outstanding, diluted 159,077 162,760 119,139 Net income per diluted common share $ 0.96 $ 0.72 $ 0.91 14

Non-interest Income 2Q19 vs. 1Q19 2Q19 vs. 2Q18 (in thousands) 2Q19 1Q19 2Q18 % Change % Change Service charges on deposit accounts $ 21,994 $ 20,859 $ 19,999 5.4 10.0 Fiduciary and asset management fees 14,478 13,578 13,983 6.6 3.5 Brokerage revenue 10,052 9,379 8,709 7.2 15.4 Mortgage banking income 7,907 5,054 4,839 56.4 63.4 Card fees 11,161 10,877 10,833 2.6 3.0 Capital markets income 8,385 4,906 1,118 70.9 nm Income from bank-owned life insurance 5,176 5,290 3,733 (2.2) 38.7 Other non-interest income 11,044 8,502 11,506 29.9 (4.0) Adjusted non-interest income $ 90,197 $ 78,445 $ 74,720 15.0 20.7 Increase (decrease) in fair value of private equity investments, net 1,455 858 (37) 69.7 nm Investment securities gains/(losses), net (1,845) 75 (1,296) nm nm Total non-interest income $ 89,807 $ 79,378 $ 73,387 13.1 22.4 nm = not meaningful 15

Earning Assets Composition Investment Securities Portfolio Loan Portfolio 1.8 1.7 4.3 4.3 1.5 4.1 3.9 1.4 1.4 3.06% 3.4 5.17% 5.17% 5.11% 2.36% 2.39% 2.45% 3.03%(2) 4.99% 4.88% 2Q18 3Q18 4Q18 1Q19 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 (1) (1) Duration (in years) Yield Duration (in years) Yield Loan Portfolio Rate Mix Net Interest Income Sensitivity 36.7% 36.6% 35.9% 37.0% 37.6% Gradual change in Estimated % increase in short-term interest rates net interest income 16.2% 15.7% 15.6% 12.0% 11.9% (in bps) 47.1% 47.7% 48.5% 51.0% 50.5% -100 -1.50% -25 -0.40% 2Q18 3Q18 4Q18 1Q19 2Q19 Fixed rate Prime floating rate LIBOR floating rate (1) Loan and investment yields include Purchase Accounting Adjustments (PAA). Excluding the effect of PAA, loan and investment yields are 5.04% and 3.02%, respectively 16

Loan Growth (Dollars in millions) Quarter-to-Date Annualized 1Q19 2Q19 Investment Properties $8,921 25.0% $9,005 24.9% $84 3.8% Residential Properties $765 2.2% $747 2.1% ($18) (9.2%) Land Acquisition & Development $582 1.7% $596 1.7% $14 9.3% Total CRE $10,268 28.9% $10,348 28.6% $80 3.1% C&I $16,128 45.3% $16,248 45.0% $120 3.0% Retail $9,262 26.0% $9,566 26.5% $304 13.2% Total $35,635 100.0% $36,139 100.0% $504 5.7% *Totals include net deferred fees/cost by category which are not displayed on this slide 17

Commercial Real Estate Composition of 2Q19 Commercial Real Estate Portfolio • Investment Properties portfolio represents Total Portfolio $10.35 billion 87% of total CRE portfolio • The portfolio is well diversified among the property types • Credit quality in Investment Properties Office building 22.1% portfolio remains excellent Multi-Family 20.4% • As of 2Q19, Residential C&D and Land Acquisition Portfolios represent only 1.9% of total Shopping centers 16.2% performing loans • No single CRE loan above $75 million Hotels 12.0% • Average CRE loan size is $9.7 million Other Investment Properties 9.5% Warehouse 6.7% 1-4 Family Perm/Mini Perm 5.1% Credit Indicator 2Q19 Land Acquisition 2.3% NPL Ratio 0.05% Residential Development 2.1% Net Charge-off Ratio (annualized) -0.04% 1-4 Family Construction 2.1% 30+ Days Past Due Ratio 0.08% Commercial Development 1.3% 90+ Days Past Due Ratio 0.01% 18

C&I Portfolio Diverse Industry Exposure Total Portfolio $16.25 billion Health Care 18.4% Manufacturing 7.5% • Wholesale Bank (includes Large Corporate, Retail Trade 7.6% Middle Market, and Specialty Lines) represents Finance/Insurance 7.3% 56.2% of C&I Balances Wholesale Trade 6.8% • Community/Retail Bank represents 43.8% of C&I Other Services 5.8% balances R/E Other 5.5% Accom. & Food Svcs. 5.5% Credit Indicator 2Q19 Prof., Scientific, Tech. Svcs 5.4% NPL Ratio 0.53% All Other 5.5% Net Charge-off Ratio (annualized) 0.23% Arts, Entertainment & Rec. 5.6% 30+ Days Past Due Ratio 0.21% Transport/Warehousing 5.1% 90+ Days Past Due Ratio 0.00% Construction 4.5% R/E Leasing 3.2% Educational Svcs. 2.2% Ag, Forestry, Fishing 2.2% Admin., Support, Waste… 2.0% 19

Consumer Portfolio Total Consumer Portfolio $9.57 billion Credit Indicator 2Q19 NPL Ratio 0.34% Consumer Mortgage 56.5% Net Charge-off Ratio* 0.15% Consumer Lending 20.0% 30+ Days Past Due Ratio 0.41% Partnerships 90+ Days Past Due Ratio 0.04% HELOC 17.3% Other Consumer 3.5% • Credit Card Portfolio continues to perform well Credit Card 2.7% • Average utilization rate is 23.3% • Average credit score is 729 • Charge-offs below industry average at 3.06% for Mortgage and HELOC, the two largest concentrations, have strong the year credit indicators Credit Indicator Heloc Mortgage • Lending Partnerships with GreenSky and SoFi Weighted Average Credit Score 792 770 • Currently $1.90 billion in balances, or 5.3% of of 2Q19 Originations total portfolio Weighted average credit score 784 785 • GreenSky is a point-of-sale program where the of total portfolio customer applies with home improvement store, Average LTV 71.4% 75.9% contractor, or other merchant Average DTI 32.4% 31.3% • SoFi portfolio primarily consists of refinanced student loan debt Utilization Rate 52.2% N/A * Annualized 20

Portfolio Risk Distribution (Dollars in millions) 1Q19 vs. 2Q19 Risk Category 1Q19 2Q19 Change Passing Grades $35,030 98.30% $35,546 98.36% $516 Special Mention 245 0.69% 204 0.56% (41) Substandard Accruing 215 0.60% 265 0.73% 50 Non-Performing Loans 144 0.40% 124 0.34% (20) Total Loans $35,635 100.00% $36,139 100.00% $504 Amounts may not total due to rounding 21

Non-GAAP Financial Measures (dollars in thousands) 2Q19 1Q19 2Q18 Net income available to common shareholders $ 153,034 117,036 108,622 Subtract: Income tax expense, net related to State Tax Reform - - (608) Add: Merger-related expense 7,401 49,738 - Add: Fair value adjustment to Visa derivative - - 2,328 Subtract: Litigation settlement/contingency expense - - (1,400) Add: Restructuring charges, net 18 19 103 Add/subtract: Investment securities losses (gains), net 1,845 (75) 1,296 Subtract/add: (Increase) decrease in fair value of private equity investments, net (1,455) (858) 37 Subtract: Tax effect of adjustments (1,951) (5,705) (554) Adjusted net income available to common shareholders $ 158,892 160,155 109,824 Weighted average common shares outstanding, diluted 159,077 162,760 119,139 Net income per common share, diluted $ 0.96 0.72 0.91 Adjusted net income per common share, diluted $ 1.00 0.98 0.92 22

Non-GAAP Financial Measures, continued (dollars in thousands) 2Q19 1Q19 4Q18 3Q18 2Q18 Net income $ 156,184 120,186 105,070 109,059 111,181 Add: Earnout liability adjustments - - - 11,652 - Subtract: Income tax expense, net related to Federal Tax Reform, SAB 118, State Tax Reform, and adjusted portion of other discrete items - - - (9,865) (608) Add: Merger-related expense 7,401 49,738 3,381 6,684 - Subtract: Litigation settlement/contingency expense - - - - (1,400) Add: Restructuring charges, net 18 19 140 21 103 Add: Fair value adjustment to Visa derivative - - - - 2,328 Add/subtract: Investment securities losses (gains), net 1,845 (75) - - 1,296 Subtract/add: (Increase) decrease in fair value of private equity investments, net (1,455) (858) 2,084 (434) 37 Subtract/add: Tax effect of adjustments (1,951) (5,705) (522) 27 (554) Adjusted net income $ 162,042 163,305 110,153 117,144 112,383 Net income annualized $ 626,452 487,421 416,854 432,680 445,946 Adjusted net income annualized $ 649,949 662,293 437,020 464,756 450,767 Total average assets $ 46,549,432 45,794,621 32,190,303 31,725,604 31,502,758 Return on average assets 1.35% 1.06 1.29 1.36 1.42 Adjusted return on average assets 1.40% 1.45 1.36 1.47 1.43 23

Non-GAAP Financial Measures, continued (dollars in thousands) 2Q19 1Q19 2Q18 Net income available to common shareholders $ 153,034 117,036 108,622 Subtract: Income tax expense, net related to effects of State Tax Reform - - (608) Add: Merger-related expense 7,401 49,738 - Subtract: Litigation settlement/contingency expense - - (1,400) Add: Fair value adjustment to Visa derivative - - 2,328 Add: Restructuring charges, net 18 19 103 Add/subtract: Investment securities losses (gains), net 1,845 (75) 1,296 Subract/add: (Increase) decrease in fair value of private equity investments, net (1,455) (858) 37 Subract: Tax effect of adjustments (1,951) (5,705) (554) Adjusted net income available to common shareholders $ 158,892 160,155 109,824 Adjusted net income available to common shareholders annualized $ 637,314 649,518 440,502 Add: Amortization of intangibles 7,250 10,317 896 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $ 644,564 659,835 441,398 Net income available to common shareholders annualized 613,818 474,646 435,682 Add: Amortization of intangibles 7,250 10,317 896 Net income available to common shareholders excluding amortization of intangibles annualized $ 621,068 484,963 436,578 Total average shareholders' equity less preferred stock 4,286,369 4,321,561 2,831,368 Subtract: Goodwill (487,601) (480,215) (57,315) Subtract: Other intangible assets, net (69,853) (75,191) (10,555) Total average tangible shareholders' equity less preferred stock $ 3,728,915 3,766,155 2,763,498 Return on average common equity 14.32% 10.98% 15.39% Adjusted return on average common equity 14.87% 15.03% 15.56% Return on average tangible common equity 16.66% 12.88% 15.80% Adjusted return on average tangible common equity 17.29% 17.52% 15.97% 24

Non-GAAP Financial Measures, continued (dollars in thousands) 2Q19 1Q19 2Q18 Total non-interest income $ 89,807 79,378 73,387 Add/subtract: Investment securities losses (gains) , net 1,845 (75) 1,296 Subtract/add: (Increase) decrease in fair value of private equity investments, net (1,455) (858) 37 Adjusted non-interest income 90,197 78,445 74,720 (dollars in thousands) 2Q19 1Q19 4Q18 3Q18 2Q18 Total non-interest expense $ 264,126 292,410 209,922 220,297 204,057 Subtract: Earnout liability adjustments - - - (11,652) - Subtract: Fair value adjustment to Visa derivative - - - - (2,328) Subtract: Merger-related expense (7,401) (49,738) (3,381) (6,684) - Add: Litigation settlement/contingency expense - - - - 1,400 Subtract: Restructuring charges, net (18) (19) (140) (21) (103) Adjusted non-interest expense 256,707 242,653 206,401 201,940 203,026 (dollars in thousands) 2Q19 1Q19 4Q18 3Q18 2Q18 Adjusted non-interest expense $ 256,707 242,653 206,401 201,940 203,026 Subtract: Amortization of intangibles (2,410) (3,392) (292) (292) (292) Adjusted tangible non-interest expense $ 254,297 239,261 206,109 201,648 202,734 Net interest income 397,262 397,175 297,933 291,619 284,577 Add: Tax equivalent adjustment 811 630 181 136 120 Add: Total non-interest income 89,807 79,378 67,991 71,668 73,387 Total FTE revenues 487,880 477,183 366,105 363,423 358,084 Add/subtract: Investment securities losses (gains), net 1,845 (75) - - 1,296 Subtract/add: (Increase) decrease in fair value of private equity investments, net (1,455) (858) 2,084 (434) 37 Adjusted total revenues $ 488,270 $ 476,250 $ 368,189 $ 362,989 $ 359,417 Efficiency Ratio 54.14% 61.28 57.34 60.62 56.99 Adjusted tangible efficiency ratio 52.08% 50.24 55.98 55.55 56.41 25

Non-GAAP Financial Measures, continued June 30, March 31, December 31, September 30, June 30, (dollars in thousands) 2019 2019 2018 2018 2018 Total assets $ 47,318,203 46,604,344 32,669,192 32,075,120 31,740,305 Subtract: Goodwill (492,390) (480,215) (57,315) (57,315) (57,315) Subtract: Other intangible assets, net (61,473) (74,683) (9,875) (10,166) (10,458) Tangible assets $ 46,764,340 46,049,446 32,602,002 32,007,639 31,672,532 Total shareholders' equity 4,753,816 4,572,072 3,133,602 3,040,073 3,167,694 Subtract: Goodwill (492,390) (480,215) (57,315) (57,315) (57,315) Subtract: Other intangible assets, net (61,473) (74,683) (9,875) (10,166) (10,458) Subtract: Preferred Stock, no par value (195,140) (195,140) (195,140) (195,138) (321,118) Tangible common equity $ 4,004,813 3,822,034 2,871,272 2,777,454 2,778,803 Total shareholders' equity to total assets ratio 10.05% 9.81 9.59 9.48 9.98 Tangible common equity ratio 8.56% 8.30 8.81 8.68 8.77 2018 Pro Forma (dollars in thousands) Synovus FCB Combined Total non-interest expense $829,455 160,632 990,087 Subtract: Earnout liability adjustments (11,652) - (11,652) Subtract: Merger-related expense (10,065) (10,657) (20,722) Add: Litigation settlement/contingency expense 4,026 - 4,026 Add: Restructuring charges, net 51 - 51 Subtract: Amortization of intangibles (1,167) (1,405) (2,572) Subtract: Fair value adjustment to Visa derivative (2,328) - (2,328) Adjusted non-interest expense $808,320 148,570 956,890 26