And in June, Synovus consolidated 30 separate bank charters into a single charter ."Five consecutive quarterly declines of non performing asset inflows, moderating past due levels, and an overall 15 percent reduction in total non performing assets are all strong predictors of future credit costs," said Kessel D. Stelling, president, chief operating officer and acting CEO of Synovus. "However, we will not be satisfied until we return to profitability.". 
Share:  And in June, <span class="company">Synovus</span> consolidated 30 separate bank charters into a single charter ."Five <span class="sent">consecutive quarterly declines of non performing asset inflows, moderating past due levels, and an overall 15 percent reduction in total non performing assets are all strong predictors of future credit costs," said Kessel D. Stelling, president, chief operating officer and acting CEO of <span class="company">Synovus</span>.</span> "However, we will not be satisfied until we return to profitability.". Tweet this   read full story

Morningstar is initiating credit coverage of Synovus Financial Corporation SNV with an issuer rating of BB . Synovus is a $32.4 billion company with 327 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. The bank has recently been laboring under the weight of high levels of nonperforming loans, currently accounting for 6% of loans. 
Share:  Morningstar is initiating credit coverage of <span class="company">Synovus Financial</span> Corporation SNV with an issuer rating of BB . Synovus is a $32.4 billion company with 327 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. The bank has recently been laboring under the weight of high levels of nonperforming loans, currently accounting for 6% of loans. Tweet this   read full story

Chris Marinac, bank analyst with FIG Partners in Atlanta, estimates that Synovus carries a $191 million burden from the soured Sea Island loans. 
Share:  <span class="sent"><span class="analyst">Chris Marinac</span>, bank analyst with FIG Partners in Atlanta, estimates that <span class="company">Synovus</span> carries a $191 million burden from the soured Sea Island loans.</span> Tweet this   read full story

With $32 billion in assets, the regional banking company has lost more than $2 billion since 2008. Chris Marinac, bank analyst with FIG Partners in Atlanta, said Synovus likely sold the loans for about 50 cents on the dollar. The second quarter should be telling about what new problems have emerged, he said, and what success the company has had in spinning off poor loans. "This is just part of the process," he said 
Share:  With $32 billion in assets, the regional banking company has lost more than $2 billion since 2008.<span class="sent"> <span class="analyst">Chris Marinac</span>, bank analyst with FIG Partners in Atlanta, said <span class="company">Synovus</span> likely sold the loans for about 50 cents on the dollar.</span> The second quarter should be telling about what new problems have emerged, he said, and what success the company has had in spinning off poor loans. "This is just part of the process," he said....With $32 billion in assets, the regional banking company has lost more than $2 billion since 2008.<span class="sent"> <span class="analyst">Chris Marinac</span>, bank analyst with FIG Partners in Atlanta, said <span class="company">Synovus</span> likely sold the loans for about 50 cents on the dollar.</span> The second quarter should be telling about what new problems have emerged, he said, and what success the company has had in spinning off poor loans. "This is just part of the process," he said. Tweet this   read full story

Analysts, on average, expect Synovus Financial ( NYSE:SNV ) to report a loss of $0.31 on sales of $323 million on July 22, 2010. For the full year, analysts expect the company to post a loss of $1.04. 
Share:  <span class="sent">Analysts, on average, expect Synovus Financial ( <span class="company">NYSE:SNV</span> ) to report a loss of $0.31 on sales of $323 million on July 22, 2010. For the full year, analysts expect the company to post a loss of $1.04.</span> Tweet this   read full story

In an announcement late Tuesday, Synovus confirmed that Bill Nigh of Trust One Bank in Memphis will replace Hunter Atkins as CEO of Bank of Nashville. He'll also serve as regional CEO, the company stated, overseeing Bank of Nashville, Trust One and Chattanooga based Cohutta Banking Co ., from Nashville."Bill has done an outstanding job strengthening the Memphis team over the past two years, and is the right choice to lead the Nashville market and the entire Tennessee region," said Kessel Stelling, acting CEO, president and chief operating officer of Synovus. Synovus has been consolidating its various banks under one single charter in recent months, and said it is completing that transition in Nashville and Memphis this week, according to its announcement. Officials locally and with Synovus have said regulatory streamlining and better overall strategic risk management are motivations for the consolidation — though they've stopped short of saying Bank of Nashville was any particular problem. 
Share:  In an announcement late Tuesday, <span class="company">Synovus</span> confirmed that Bill Nigh of Trust One Bank in Memphis will replace Hunter Atkins as CEO of Bank of Nashville. <span class="sent">He'll also serve as regional CEO, the company stated, overseeing Bank of Nashville, Trust One and Chattanooga based Cohutta Banking Co ., from Nashville."Bill has done an outstanding job strengthening the Memphis team over the past two years, and is the right choice to lead the Nashville market and the entire Tennessee region," said <span class="analyst">Kessel Stelling</span>, acting CEO, president and chief operating officer of <span class="company">Synovus</span>.</span> <span class="company">Synovus</span> has been consolidating its various banks under one single charter in recent months, and said it is completing that transition in Nashville and Memphis this week, according to its announcement. Officials locally and with <span class="company">Synovus</span> have said regulatory streamlining and better overall strategic risk management are motivations for the consolidation — though they've stopped short of saying Bank of Nashville was any particular problem. Tweet this   read full story

Anthony will be undergoing treatment for Wegener's Syndrome, a blood vessel disorder. After temporarily stepping down from his duties, Anthony stated, "Building a foundation of unprecedented strength for the Synovus future has been my top priority since this economic crisis became apparent over three years ago. Now, however, it's important that I focus my energy on my health to ensure my recovery is swift. I will remain in regular contact during my treatment, which has already begun, and look forward to resuming my duties.". 
Share:  <span class="analyst">Anthony</span> will be undergoing treatment for Wegener's Syndrome, a blood vessel disorder. <span class="sent">After temporarily stepping down from his duties, <span class="analyst">Anthony</span> stated, "Building a foundation of unprecedented strength for the <span class="company">Synovus</span> future has been my top priority since this economic crisis became apparent over three years ago.</span> Now, however, it's important that I focus my energy on my health to ensure my recovery is swift. I will remain in regular contact during my treatment, which has already begun, and look forward to resuming my duties.". Tweet this   read full story

SunTrust Robinson Humphrey bank analysts have tagged Synovus Financial Corp. as one of several prime acquisition candidates over the next few years.  
Share:  <span class="sent">SunTrust Robinson Humphrey bank analysts have tagged Synovus Financial Corp. as one of several prime acquisition candidates over the next few years. </span> Tweet this   read full story