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SYNOVUS NEWS RELEASE Media Contact Lee Underwood Media Relations ( 706 ) 644-0528 Investor Contact Kevin Brown Investor Relations Synovus Announces Earnings for the Second Quarter 2021 Diluted Earnings per Share of $ 1.19 vs. $ 0.57 in 2Q20 Adjusted Diluted Earnings per Share of $ 1.20 vs. $ 0.23 in 2Q20 ( 706 ) 641-6500 COLUMBUS , Ga . , July 20 , 2021 - Synovus Financial Corp. ( NYSE : SNV ) today reported financial results for the quarter ended June 30 , 2021 . Second Quarter 2021 Highlights • • • • • • • • • Net income available to common shareholders of $ 177.9 million or $ 1.19 per diluted share , unchanged sequentially and up $ 0.62 compared to prior year . ° Adjusted diluted EPS of $ 1.20 , down $ 0.01 sequentially and up $ 0.97 compared to prior year . Period - end loans decreased $ 569.1 million or 1 % sequentially . ° Paycheck Protection Program ( PPP ) loans declined $ 763.4 million and third - party consumer loan balances increased $ 272.5 million sequentially . Core transaction deposits ( non - interest bearing , NOW / savings , and money market deposits excluding public and brokered funds ) increased $ 702.4 million or 2 % sequentially . Total deposit costs of 0.16 % down 6 bps sequentially due to ongoing repricing and product remixing . Net interest income of $ 381.9 million increased $ 8.0 million sequentially as asset growth , reduced deposit costs , and a higher day count more than offset the reduction in PPP fee income . ° Net interest margin of 3.02 % , down 2 bps sequentially . Non - interest revenue decreased $ 3.9 million sequentially as broad - based growth partially offset the normalization of net mortgage revenues . о Adjusted non - interest revenue decreased $ 6.2 million . Non - interest expense increased $ 3.4 million sequentially and decreased $ 13.6 million compared to prior year . ° 0 Adjusted non - interest expense increased $ 2.4 million sequentially as the benefits from various efficiency initiatives were offset by higher commissions , incentives , and expenses primarily related to additional PPP forgiveness and expenses associated with higher third - party consumer loan balances . Reversal of provision for credit losses of $ 24.6 million , primarily from a more favorable economic outlook . Allowance for credit losses coverage ratio ( to loans ) of 1.47 % , or 1.54 % excluding PPP loans . Credit quality metrics remain relatively stable , near historical lows . The non - performing asset ratio fell 4 bps to 0.46 % sequentially ; criticized and classified loans declined 14 % compared to prior quarter . Preliminary CET1 ratio increased 1 bp sequentially to 9.75 % , with strong core earnings helping offset the decline from $ 92.5 million in share repurchases at an average price of $ 47.51 , reducing average diluted outstanding shares from the prior quarter by 1.3 % .