Synovus Financial Corp. reported diluted earnings per share of $1.48 for the second quarter ended June 30, 2025, a substantial increase from $(0.16) in the prior year's second quarter. Adjusted diluted earnings per share also reached $1.48, up 28% year-over-year from $1.16, driven by exceptional financial discipline and strategic execution.
Net interest income for the quarter was $459.56 million, increasing 1% quarter-over-quarter and 6% year-over-year, with the net interest margin expanding by 2 basis points quarter-over-quarter to 3.37%. Total revenue for the quarter was $593.70 million, up 93.9% year-over-year, reflecting positive operating leverage.
Credit quality continued to improve across all categories, with the provision for credit losses decreasing by 70% quarter-over-quarter to $3.25 million, and net charge-offs declining to 0.17%. The preliminary Common Equity Tier 1 (CET1) capital ratio reached 10.91%, the highest level in the company's history.
Funded loan production surged 60% year-over-year, contributing to 8% annualized loan growth. Given this strong performance and conviction in its strategy, Synovus confidently raised its full-year 2025 earnings guidance, despite ongoing economic and global uncertainty.
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