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SYNOVUS NEWS RELEASE Media Contact Lee Underwood Media Relations ( 706 ) 644-0528 Synovus Announces Earnings for the First Quarter 2021 Diluted Earnings per Share of $ 1.19 vs. $ 0.20 in 1Q20 Adjusted Diluted Earnings per Share of $ 1.21 vs. $ 0.21 in 1Q20 Investor Contact Kevin Brown Investor Relations ( 706 ) 644-0948 COLUMBUS , Ga . , April 20 , 2021 - Synovus Financial Corp. ( NYSE : SNV ) today reported financial results for the quarter ended March 31 , 2021 . First Quarter 2021 Highlights • • • • • • • • Net income available to common shareholders of $ 178.8 million or $ 1.19 per diluted share , up $ 0.23 sequentially and $ 0.99 compared to prior year . ° Adjusted diluted EPS of $ 1.21 , up $ 0.13 sequentially and $ 1.00 compared to prior year . Period - end loans increased $ 552.1 million or 1 % sequentially . ° Paycheck Protection Program ( PPP ) loans increased $ 170.1 million and third - party consumer loan balances , including a prime auto purchase of $ 476 million , increased $ 503.2 million sequentially . Core transaction deposits ( non - interest bearing , NOW / savings , and money market deposits excluding public and brokered funds ) increased $ 2.05 billion or 6 % sequentially . Total deposit costs of 0.22 % down 6 bps sequentially due to ongoing repricing and product remixing . Net interest income of $ 373.9 million declined $ 12.1 million sequentially as lower deposit costs and deployment of excess liquidity partially offset a lower day count , continued fixed - rate asset repricing , and accelerated prepayment activity . ° Net interest margin of 3.04 % vs 3.12 % sequentially . Non - interest revenue declined $ 3.8 million sequentially and increased $ 7.1 million compared to prior year . Adjusted non - interest revenue increased $ 0.6 million sequentially as broad - based growth helped offset normalization of net mortgage revenue . ° ° Non - interest expense declined $ 35.4 million sequentially and $ 9.1 million compared to prior year . Adjusted non - interest expense declined $ 8.5 million sequentially led by reduction in professional fees , partially offset by seasonal increases in payroll taxes and benefits . о Reversal of provision for credit losses of $ 18.6 million , primarily from a more favorable economic outlook . Allowance for credit losses coverage ratio ( to loans ) of 1.58 % , or 1.69 % excluding PPP loans . Credit quality metrics remain relatively stable with a net charge - off ratio of 0.21 % ; non - performing assets , non - performing loans , and past dues remained near prior cycle lows . Preliminary CET1 ratio increased 8 bps sequentially to 9.74 % , with strong core earnings helping offset a $ 1.20 billion increase in risk - weighted assets . In April , executed share repurchases of approximately $ 10 million as part of the $ 200 million authorization for 2021 .