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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
July 30
Synovus Financial Corp. reported its eighth straight quarterly loss despite lower credit costs.
The $32.3 billion-asset company based in Columbus, Ga., lost $229 million in the second quarter, compared with a loss of $215.7 million in the first quarter. A release that announced the results did not reiterate a past claim that the company could return to profitability this year, instead saying the company is in better shape to again make money.
Kessell Stelling, who was chosen as interim CEO in June after Richard Anthony sought treatment for a blood vessel disorder, noted in a press release that nonperforming asset inflows have declined for five consecutive quarters. "We are certainly encouraged by these positive trends," he said. "However, we will not be satisfied until we return to profitability."
The loan-loss provision fell 12.3% from the previous quarter, to $289.9 million. Net chargeoffs rose 37.1% from the first quarter, to $433.1 million, led by a 50% increase in commercial real estate.
Nonperforming assets fell 15% from a quarter earlier , to $1.84 billion. The company sold $206 million in problem loans in the second quarter.
