© Reuters.
COLUMBUS, Ga. – Synovus (NYSE:) Financial Corp and Bank OZK (NASDAQ:) have released their quarterly financial results, revealing differing trends in their business performances. Synovus reported a net income of $60.6 million or earnings per share (EPS) of $0.41, while facing a decline in loan volume and an increase in deposit costs. Conversely, Bank OZK showed a healthy growth in its net income and EPS.
Synovus, headquartered in Columbus, Georgia, experienced strategic declines in certain lending areas, which contributed to the decrease in loan volume. Despite these challenges, the bank managed to increase its total deposits to $50 billion. Synovus also reported stable credit health, with non-performing loans constituting just over half a percent of total loans.
In contrast, Little Rock-based Bank OZK reported a 7.7% increase in net income for the fourth quarter,…
