Slides
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Synovus Standalone Fourth Quarter 2025 Supplemental Information
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61 Credit Quality & CapitalNon-Interest Revenue Non-Interest Expense Synovus' Fourth Quarter 2025 Highlights Net Interest Income • Strong 4Q25 loan growth was primarily attributable to corporate and investment banking, specialty lending verticals and middle market credits • Core deposit(1) growth was supported by public funds and middle market account seasonality • NIM expansion was supported by various factors including continued fixed-rate asset repricing and the funding benefits of core deposit growth • QoQ broad-based growth in wealth, core banking and capital markets supported non-interest revenue growth • $14 million incremental taxes and penalty assessed on $220 million BOLI surrender; +$4 million revenue equals ~3.5 year payback period • QoQ non-interest expense growth was impacted by an increase in incentives and charitable donations which more than offset a FDIC special assessment reversal • NCOs were in line with expectations • ~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge- off • The majority of the NPL increase was due to a $38.6 million C&I credit • Capital levels continued to build in anticipation of the closing of the merger; CET1 Ratio(2) finished at all- time high of 11.28% (1) Excludes brokered; (2) 4Q25 capital ratios are preliminary
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62 Credit Quality Amounts may not total due to rounding; (1) Annualized. 174% 185% 200% 249% 207%ACL to NPLs: Allowance for Credit Losses ($ in millions) $539 $529 $514 $520 $529 4Q24 1Q25 2Q25 3Q25 4Q25 Allowance for Credit Losses RatioAllowance for Credit Losses 1.27% 1.24% 1.18% 1.19% 1.19% $28 $21 $18 $15 $24 4Q24 1Q25 2Q25 3Q25 4Q25 Net Charge-Offs ($ in millions) 4.0% 3.8% 3.6% 3.4% 3.0% 4Q24 1Q25 2Q25 3Q25 4Q25NPA and Criticized & Classified Loan Ratios Net Charge-Off Ratio(1)Net Charge-OffsNPAs/Loans+REO %Criticized & Classified Loans as a % of Total Loans 0.26% 0.20% 0.17% 0.14%0.73% 0.67% 0.59% 0.53% 0.22%0.62% • ~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge-off • Linked quarter NPL increase primarily due to one C&I credit totaling $38.6 million Highlights
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63 Risk Distribution ($ in millions) Amounts may not total due to rounding. $1,086 $1,333 $1,484$1,527 $1,634$1,590 $1,693$1,683 $1,610$1,566 $1,481 $1,341 2.5% 3.0% 3.4% 3.5% 3.8% 3.7% 3.9% 4.0% 3.8% 3.6% 3.4% 3.0% Criticized and Classified Loans% of Total Loans 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q254Q25 Portfolio Risk DistributionCriticized & Classified Loans Composition Change Risk Category 4Q25 3Q25 4Q25 vs. 3Q25 Passing Grades $43,284 $42,272 $1,013 Special Mention 521 650 (129) Substandard Accruing 564 622 (58) Non-Performing Loans 256 209 47 Total Loans $44,626 $43,753 $872
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64 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) Upside refers to November 2025 "S1" Upside 10th Percentile scenario; (3) Downside refers to Moody's November 2025 "S3" Downside 10th Percentile scenario; (4) Slow Growth refers to Moody's November 2025 "S5" Slow Growth; (5) Corresponds to Moody's November 2025 Scenarios ACL/Loans: Economic Scenario Assumptions and Weightings 1.19% 1.19% $529 $520 $(15) $7 $5 $13 $(1) 3Q25 Economic Conditions Other Qualitatives Performance Net Growth Other 4Q25 (1) 4Q25 Change from 2026(5) 2027(5) Scenario Model Weighting Previous Quarter GDP Unemployment GDP Unemployment Consensus Baseline 55% 5% 1.8% 4.4% 2.0% 4.3% Upside(2) 10% (5)% 3.3% 3.8% 2.6% 3.9% Downside(3) 5% —% (1.2)% 7.4% 0.2% 8.1% Slow Growth(4) 30% —% 1.4% 5.3% 1.1% 5.6% Weighted Average 1.7% 4.8% 1.7% 4.8% Allowance for Credit Losses ($ in millions)
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65 • 93% are income-producing properties • Diversity among property types and geographies • Industry Focused C&I(1) is well-diversified among multiple lines of business • C&I industry mix aligned with economic and demographic drivers • SNCs total $5.8 billion, ~$595 million of which is agented by SNV • Weighted average credit score of 796 and 785 for Home Equity and Mortgage, respectively • Weighted average LTV of 71% and 68% for Home Equity and Mortgage, respectively(2) Consumer Portfolio $8.2 billion CRE Portfolio $12.1 billion C&I Portfolio $24.3 billion 4Q25 Portfolio Characteristics C&I CRE Consumer NPL Ratio 0.62% 0.32% 0.80% QTD Net Charge-off Ratio (annualized) 0.12% 0.18% 0.54% 30+ Days Past Due Ratio 0.10% 0.02% 0.42% 90+ Days Past Due Ratio 0.01% 0.00% 0.02% Amounts may not total due to rounding; (1) Industry Focused C&I is primarily comprised of our seniors housing portfolio, national accounts, structured lending (primarily lender finance) and insurance premium finance; (2) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien Loan Portfolio by Category 25% 24% 5% 9% 6% 4% 4% 3% 1% 16% 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
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66 Credit Indicator 4Q25 NPL Ratio 0.62% Net Charge-off Ratio (annualized) 0.12% 30+ Days Past Due Ratio 0.10% 90+ Days Past Due Ratio 0.01% Diverse Industry Exposure 4Q25 Total C&I Portfolio $24.3 billion Amounts may not total due to rounding; (1) These segments are not two-digit NAICS industry divisions; Seniors Housing is a subset of NAICS 62 Health Care and Social Assistance, and lessors of R/E and R/E leasing together comprise NAICS 53 Real Estate, Rental, and Leasing C&I Loan Portfolio 23.9% 12.9% 7.1% 6.4% 5.9% 5.4% 5.1% 4.3% 4.1% 3.8% 3.6% 3.3% 3.1% 3.1% 2.2% 2.0% 1.9% 1.0% .8% Finance/Insurance Senior Housing Accom. & Food Svcs. Lessors of R/E Health Care Manufacturing Wholesale Trade Retail Trade Construction Other Services Prof., Scientific, Tech. Svcs. Transport/Warehousing R/E Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Ag, Forestry, Fishing Admin., Support, Waste Mgmt. (1) (1) (1) • Approximately 95% of the C&I Portfolio is Collateralized • Wholesale Bank (includes Market Based and Industry Focused Lines) represents 70% of C&I balances • Finance/Insurance predominantly represented by secured lender finance portfolio ◦ 0.00% NPL Ratio ◦ 0.00% Net Charge-Off Ratio (annualized) ◦ 0.09% 30+ Day Past Due Ratio 5% 15% 13% 7% 24% 37% Owner-Occupied CRE Inventory/Receivables Insurance Premium Finance Lender Finance Other Collateral Unsecured
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67 Commercial Real Estate Loan Portfolio Composition of 4Q25 CRE Portfolio Total Portfolio $12.1 billion Investment Properties Land, Development and Residential Properties Portfolio Characteristics (as of December 31, 2025) Office Building Multi-family Shopping Centers Hotels Other Investment Properties Warehouse Residential Properties(1) Development & Land Balance (in millions) $1,627 $3,827 $1,483 $1,933 $1,448 $961 $542 $275 Weighted Average LTV(2)(3) 56% 53% 55% 52% 52% 52% NA NA NPL Ratio 2.06% 0.00% 0.10% 0.00% 0.03% 0.01% 0.51% 0.07% Net Charge-off Ratio (annualized) 1.06% 0.00% 0.00% 0.00% 0.11% 0.00% 0.12% 0.74% 30+ Days Past Due Ratio 0.03% 0.01% 0.00% 0.00% 0.02% 0.00% 0.21% 0.19% 90+ Days Past Due Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Investment Properties portfolio represent 93% of total CRE portfolio ◦ The portfolio is well diversified among property types CRE Credit Quality ◦ 0.32% NPL Ratio ◦ 0.18% 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 most recent appraisal (typically at origination) on non-construction component of portfolio by the 12/31/25 commitment amount and any senior lien; (3) Methodology for calculated LTV differs from LTV’s noted on other CRE slides 31.6% 16.0% 13.5% 12.0% 12.3% 7.9% 2.7% 2.3% 1.8% Multi-Family Hotels Office Building Other Investment Properties Shopping Center Warehouses 1-4 Family Perm/Mini-Perm Land Acquisition & Dev. 1-4 Family Construction
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68 Credit Indicator 4Q25 NPL Ratio 0.80% Net Charge-off Ratio (annualized) 0.54% 30+ Days Past Due Ratio 0.42% 90+ Days Past Due Ratio 0.02% Total Consumer Portfolio $8.2 billion Credit Indicator Home Equity Mortgage Weighted Average Credit Score of 4Q25 Originations 797 768 Weighted Average Credit Score of Total Portfolio 796 785 Weighted Average LTV(1) 71% 68% Weighted Average DTI(2) 35% 32% Utilization Rate 40% N/A Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien; (2) Weighted Average DTI of 4Q25 originations Consumer Credit Quality Consumer Loan Portfolio • 86% of Consumer portfolio is backed by residential real estate • Other Consumer includes secured and unsecured products • Average consumer card utilization rate is 23% • Third-party HFI portfolio $614 million 63.3% 22.4% 7.5% 4.6% 2.3% Consumer Mortgage Home Equity Third-Party HFI Other Consumer Credit Card
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69 ($ in millions; rates annualized) December 2025 4Q25 3Q25 Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Non-interest-bearing N/A $11,420 N/A $11,341 N/A Interest-bearing non-maturity (NMD) 2.13% $27,113 2.20% $26,609 2.43% Time 3.37% $7,566 3.37% $7,148 3.39% Brokered 3.94% $5,071 4.11% $5,059 4.49% Total interest-bearing 2.59% $39,750 2.66% $38,816 2.88% Total deposits 2.02% $51,170 2.07% $50,157 2.23% Total Average Deposit Costs
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70 4Q25 3Q25 2Q25 1Q25 4Q24 Financial Performance Diluted EPS $1.22 $1.33 $1.48 $1.30 $1.25 Net interest margin(1) 3.45% 3.41% 3.37% 3.35% 3.28% Efficiency ratio-TE 55.38 56.51 53.03 53.81 53.15 Adjusted tangible efficiency ratio(2) 51.29 51.83 52.31 53.26 52.69 ROAA(1) 1.18 1.30 1.46 1.32 1.25 Adjusted ROAA(1)(2) 1.39 1.42 1.46 1.32 1.25 ROCE(1) 12.62 14.36 16.71 15.48 14.75 ROTCE(1)(2) 14.09 16.11 18.81 17.52 16.72 Adjusted ROTCE(1)(2) 16.66 17.69 18.82 17.58 16.67 Balance Sheet QoQ Growth Total loans 2% 0% 2% 0% (1)% Total deposits 3% 0% (2)% 0% 2% Credit Quality NPA ratio 0.62% 0.53% 0.59% 0.67% 0.73% NCO ratio(1) 0.22 0.14 0.17 0.20 0.26 Capital Common shares outstanding(3) 138,894 138,813 138,782 139,214 141,166 Common Equity Tier 1 capital ratio 11.28% 11.22% 10.96% 10.77% 10.84% Tier 1 ratio 12.36% 12.33% 12.06% 11.89% 11.96% Leverage ratio 10.12% 10.02% 9.86% 9.56% 9.55% Tangible common equity ratio(2) 8.14 7.96 7.55 7.26 7.02 (1) Annualized; (2) Non-GAAP financial measure; see applicable reconciliation; (3) In thousands; (4) Preliminary (4) Quarterly Highlights Trend (4) (4)
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71 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders $171,054 $185,590 $178,848 $746,655 $439,557 Restructuring charges (reversals) (338) (747) 37 (2,305) 2,121 Valuation adjustment on GLOBALT earnout (719) — (719) (719) (719) Valuation adjustment to Visa derivative 2,940 2,911 — 8,051 8,700 (Gain) loss on early extinguishment of debt 1,344 — — 1,344 — Investment securities (gains) losses, net 1,038 (1,742) — (704) 256,660 Merger-related expense(1) 18,504 23,757 — 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — — 14,227 — Tax effect of adjustments(2) (5,499) (5,839) 165 (11,575) (64,423) Adjusted net income available to common shareholders $202,551 $203,930 $178,331 $797,235 $641,896 Weighted average common shares outstanding, diluted 139,733 139,612 142,694 140,149 144,998 Net income per common share, diluted $1.22 $1.33 $1.25 $5.33 $3.03 Adjusted net income per common share, diluted $1.45 $1.46 $1.25 $5.69 $4.43 Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q24, 3Q25,4Q24, 2025 and 2024 Non-GAAP Financial Measures
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72 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net interest income $484,577 $474,695 $454,993 $1,873,217 $1,749,577 Total non-interest revenue 145,094 140,697 125,587 536,392 239,604 Total non-interest expense (349,594) (348,729) (309,311) (1,322,058) (1,247,543) Pre-provision net revenue (PPNR) $280,077 $266,663 $271,269 $1,087,551 $741,638 Net interest income $484,577 $474,695 $454,993 $1,873,217 $1,749,577 Taxable equivalent adjustment 1,632 1,736 1,430 6,607 5,485 TE net interest income 486,209 476,431 456,423 1,879,824 1,755,062 Total non-interest revenue 145,094 140,697 125,587 536,392 239,604 Total TE revenue 631,303 617,128 582,010 2,416,216 1,994,666 Valuation adjustment on Globalt earnout (719) — (719) (719) (719) Investment securities (gains) losses, net 1,038 (1,742) — (704) 256,660 Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (237) (6,214) (5,159) Adjusted total revenue (TE) $630,459 $612,794 $581,054 $2,408,579 $2,245,448 Total non-interest expense $349,594 $348,729 $309,311 $1,322,058 $1,247,543 Restructuring (charges) reversals 338 747 (37) 2,305 (2,121) Gain (loss) on early extinguishment of debt (1,344) — — (1,344) — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (237) (6,214) (5,159) Merger-related expense (18,504) (23,757) — (42,261) — Valuation adjustment to Visa derivative (2,940) (2,911) — (8,051) (8,700) Adjusted non-interest expense $325,981 $320,216 $309,037 $1,266,493 $1,231,563 Adjusted revenue (TE) $630,459 $612,794 $581,054 $2,408,579 $2,245,448 Adjusted non-interest expense (325,981) (320,216) (309,037) (1,266,493) (1,231,563) Adjusted PPNR $304,478 $292,578 $272,017 $1,142,086 $1,013,885 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued
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73 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income $181,696 $196,505 $217,119 $194,872 $189,377 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Valuation adjustment to Visa derivative 2,940 2,911 — 2,200 — (Gain) loss on early extinguishment of debt 1,344 — — — — Investment securities (gains) losses, net 1,038 (1,742) — — — Merger-related expense(1) 18,504 23,757 — — — Tax on surrender of bank-owned life insurance policies 14,227 — — — — Tax effect of adjustments(2) (5,499) (5,839) (17) (219) 165 Adjusted net income $213,193 $214,845 $217,174 $195,561 $188,860 Net income annualized $720,859 $779,612 $870,862 $790,314 $753,391 Adjusted net income annualized $845,820 $852,374 $871,083 $793,109 $751,334 Total average assets $60,839,497 $60,085,552 $59,577,113 $59,876,546 $60,174,616 Return on average assets (annualized) 1.18% 1.30% 1.46% 1.32% 1.25% Adjusted return on average assets (annualized) 1.39% 1.42% 1.46% 1.32% 1.25% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25,1Q25, and 4Q24 Non-GAAP Financial Measures, Continued
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74 ($ in thousands) 2025 2024 Net income $790,192 $479,451 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early extinguishment of debt 1,344 — Investment securities losses (gains), net (704) 256,660 Merger-related expense(1) 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — Tax effect of adjustments(2) (11,575) (64,423) Adjusted net income $840,772 $681,790 Total average assets $60,097,290 $59,408,317 Return on average assets 1.31% 0.81% Adjusted return on average assets 1.40% 1.15% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued
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75 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income available to common shareholders $171,054 $185,590 $206,320 $183,691 $178,848 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Loss (gain) on early extinguishment of debt 1,344 — — — — Valuation adjustment to Visa derivative 2,940 2,911 — 2,200 — Investment securities losses (gains), net 1,038 (1,742) — — — Merger-related expense(1) 18,504 23,757 — — — Tax on surrender of bank-owned life insurance policies 14,227 — — — — Tax effect of adjustments(2) (5,499) (5,839) (17) (219) 165 Adjusted net income available to common shareholders $202,551 $203,930 $206,375 $184,380 $178,331 Adjusted net income available to common shareholders annualized $803,599 $809,070 $827,768 $747,763 $709,447 Amortization of intangibles, tax effected, annualized 7,905 7,907 7,993 8,082 8,715 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $811,504 $816,977 $835,761 $755,845 $718,162 Net income available to common shareholders annualized $678,638 $736,308 $827,547 $744,969 $711,504 Amortization of intangibles, tax effected, annualized 7,905 7,907 7,993 8,082 8,715 Net income available to common shareholders excluding amortization of intangibles annualized $686,543 $744,215 $835,540 $753,051 $720,219 Total average Synovus Financial Corp. shareholders' equity less preferred stock $5,377,147 $5,127,084 $4,952,297 $4,812,279 $4,824,003 Average goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Average other intangible assets, net (25,211) (27,665) (30,398) (32,966) (35,869) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $4,871,496 $4,618,979 $4,441,459 $4,298,873 $4,307,694 Return on average common equity (annualized) 12.62% 14.36% 16.71% 15.48% 14.75% Adjusted return on average common equity (annualized) 14.94% 15.78% 16.71% 15.54% 14.71% Return on average tangible common equity (annualized) 14.09% 16.11% 18.81% 17.52% 16.72% Adjusted return on average tangible common equity (annualized) 16.66% 17.69% 18.82% 17.58% 16.67% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25, 1Q25, and 4Q24 Non-GAAP Financial Measures, Continued
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76 ($ in thousands) 2025 2024 Net income available to common shareholders $746,655 $439,557 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early extinguishment of debt 1,344 — Investment securities losses (gains), net (704) 256,660 Merger-related expense(1) 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — Tax effect of adjustments(2) (11,575) (64,423) Adjusted net income available to common shareholders $797,235 $641,896 Amortization of intangibles, tax effected $7,971 $8,806 Adjusted net income available to common shareholders excluding amortization of intangibles $805,206 $650,702 Net income available to common shareholders 746,655 439,557 Amortization of intangibles, tax effected 7,971 $8,806 Net income available to common shareholders excluding amortization of intangibles $754,626 $448,363 Total average Synovus Financial Corp. shareholders' equity less preferred stock $5,068,914 $4,629,343 Average goodwill (480,440) (480,555) Average other intangible assets, net (29,035) (40,161) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $4,559,439 $4,108,627 Return on average common equity 14.73% 9.50% Adjusted return on average common equity 15.73% 13.87% Return on average tangible common equity 16.55% 10.91% Adjusted return on average tangible common equity 17.66% 15.84% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued
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77 Total non-interest expense $349,594 $348,729 $315,701 $308,034 $309,311 Restructuring (charges) reversals 338 747 (72) 1,292 (37) Valuation adjustment to Visa derivative (2,940) (2,911) — (2,200) — (Loss) gain on early extinguishment of debt (1,344) — — — — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Merger-related expense (18,504) (23,757) — — — Adjusted non-interest expense $325,981 $320,216 $312,354 $307,942 $309,037 Adjusted non-interest expense $325,981 $320,216 $312,354 $307,942 $309,037 Amortization of intangibles (2,627) (2,627) (2,627) (2,627) (2,888) Adjusted tangible non-interest expense $323,354 317,589 309,727 305,315 306,149 Net interest income $484,577 $474,695 $459,561 $454,384 $454,993 Taxable equivalent (TE) adjustment 1,632 1,736 1,662 1,577 1,430 Total non-interest revenue 145,094 140,697 134,135 116,466 125,587 Total TE revenue $631,303 $617,128 $595,358 $572,427 $582,010 Investment securities (gains) losses, net 1,038 (1,742) — — — Valuation adjustment on Globalt earnout (719) — — — (719) Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Adjusted total revenue (TE) $630,459 $612,794 $592,083 $573,243 $581,054 Efficiency ratio-(TE) 55.38% 56.51% 53.03% 53.81% 53.15% Adjusted tangible efficiency ratio 51.29% 51.83% 52.31% 53.26% 52.69% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total non-interest revenue $145,094 $140,697 $134,135 $116,466 $125,587 Valuation adjustment on GLOBALT earnout (719) — — — (719) Investment securities (gains) losses, net 1,038 (1,742) — — — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Adjusted non-interest revenue $144,250 $136,363 $130,860 $117,282 $124,631
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78 ($ in thousands) 2025 2024 Total non-interest revenue $536,392 $239,604 Valuation adjustment on GLOBALT earnout (719) (719) Investment securities losses (gains), net (704) 256,660 Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Adjusted non-interest revenue $528,755 $490,386 Total non-interest expense $1,322,058 $1,247,543 Restructuring (charges) reversals 2,305 (2,121) Valuation adjustment to Visa derivative (8,051) (8,700) (Loss) gain on early extinguishment of debt (1,344) — Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Merger-related expense (42,261) — Adjusted non-interest expense $1,266,493 $1,231,563 Adjusted non-interest expense $1,266,493 $1,231,563 Amortization of intangibles (10,510) (11,609) Adjusted tangible non-interest expense $1,255,983 $1,219,954 Net interest income 1,873,217 1,749,577 Tax equivalent adjustment 6,607 5,485 Total non-interest revenue 536,392 239,604 Total TE revenue $2,416,216 $1,994,666 Valuation adjustment on GLOBALT earnout (719) (719) Investment securities losses (gains), net (704) 256,660 Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Adjusted total revenue (TE) $2,408,579 $2,245,448 Efficiency ratio-(TE) 54.72% 62.54% Adjusted tangible efficiency ratio 52.15% 54.33% Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued
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79 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total assets $61,358,837 $60,485,175 $61,056,785 $60,339,121 $60,233,644 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (23,809) (26,436) (29,063) (31,691) (34,318) Tangible assets $60,854,588 $59,978,299 $60,547,282 $59,826,990 $59,718,886 Total Synovus Financial Corp. shareholders’ equity $5,993,167 $5,818,737 $5,617,686 $5,390,751 $5,244,557 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (23,809) (26,436) (29,063) (31,691) (34,318) Preferred Stock, no par value (537,145) (537,145) (537,145) (537,145) (537,145) Tangible common equity $4,951,773 $4,774,716 $4,571,038 $4,341,475 $4,192,654 Total Synovus Financial Corp. shareholders’ equity to total assets ratio 9.77% 9.62% 9.20% 8.93% 8.71% Tangible common equity ratio 8.14% 7.96% 7.55% 7.26% 7.02% Tangible common equity $4,951,773 $4,774,716 $4,571,038 $4,341,475 $4,192,654 Common shares outstanding 138,894 138,813 138,782 139,214 141,166 Book value per common share $39.28 $38.05 $36.61 $34.86 $33.35 Tangible book value per common share $35.65 $34.40 $32.94 $31.19 $29.70 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued