Synovus Financial Corp Sees Q3 Charge-off Of ~$23M Related to 10.75% Participation In A $218.5M Nationally Syndicated Credit
Portfolio Pulse from Charles Gross
Synovus Financial Corp expects a charge-off of approximately $23M in Q3 due to its 10.75% participation in a $218.5M nationally syndicated credit.
September 19, 2023 | 10:07 am
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Synovus Financial Corp's Q3 earnings may be negatively impacted by a $23M charge-off related to its participation in a nationally syndicated credit.
Synovus Financial Corp's participation in a $218.5M nationally syndicated credit has led to an expected charge-off of $23M in Q3. This could negatively impact the company's earnings for the quarter, potentially leading to a decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100