Synovus Financial Corp. reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net income available to common shareholders of $27.0 million or $0.23 per diluted share as compared to $95.4 million or $0.78 per diluted share for the third quarter 2017 and $66.0 million or $0.54 per diluted share for the fourth quarter 2016. Fourth quarter 2017 results include a $23.2 million loss on early extinguishment of debt, as well as a $47.2 million charge related to Federal tax reform. Adjusted earnings per diluted share was $0.72, a 10.7% increase from the third quarter 2017 and a 32.4% increase from $0.54 per share reported in the fourth quarter 2016. Total revenues were $339.1 million compared to $398.0 million the previous quarter and $307.5 million for the fourth quarter 2016. Total adjusted revenues were $339.2 million, up $7.9 million or 2.4% from the previous quarter and up 12.1% from $302.5 million in the fourth quarter 2016. Net interest income was $269.7 million, up $7.1 million or 2.7% from the previous quarter and up 15.5% from $233.5 million in the fourth quarter 2016. The company reported interest income of $306.9 million compared to $264.5 million, income before income taxes of $104.0 million compared to $108.1 million, return on average assets of 0.37% compared to 0.90%, return on average common equity 3.76% compared to 9.42%, adjusted net income of $86.0 million compared to $66.5 million for the last year. Book value per common share as at December 31, 2017 was $23.85 compared to $22.92 as at December 31, 2016.

For the year, the company reported net income available to common shareholders of $265.2 million or $2.17 per diluted share as compared to $236.5 million or $1.89 per diluted share for 2016. Diluted EPS grew 15.0% for 2017 compared to 2016. Adjusted earnings per diluted share for 2017 were $2.53 as compared to $1.98 for 2016, an increase of 27.7%. Return on average assets was 0.89%, an increase of 5 basis points from 0.84% reported in 2016. Return on average common equity for was 9.32%, an increase of 91 basis points from 8.41% reported in 2016. The company reported interest income of $1,162.5 million compared to $1,022.8 million, net interest income of $1,023.3 million compared to $899.2 million, income before income taxes of $480.1 million compared to $388.5 million for the last year. Total adjusted revenues were $1,370.1 million compared to $1,168.7 million in 2016.

Net charge-offs were $9.0 million in the fourth quarter 2017, down $29.1 million or 76.4% from $38.1 million in the previous quarter and $8.3 million in fourth quarter of 2016.