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Stock impact report

Synovus Announces Paycheck Protection Program Lending Results

Synovus Financial Corp. (SNV) 
Last synovus financial corp. earnings: 4/24 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.synovus.com
Company Research Source: Business Wire
COLUMBUS, Ga.--(BUSINESS WIRE)--Synovus Bank today announced it has processed and approved approximately 18,000 Paycheck Protection Program (PPP) loans totaling $2.9 billion as of May 5. The bank processed approximately 8,300 loans totaling $2 billion from April 3 to April 16, when the first round of funding was exhausted, and processed approximately 9,800 loans totaling $900 million beginning April 27, following the restoration of PPP funding. The funding provided by Synovus through PPP will support businesses that employ more than 335,000 individuals across the bank’s five-state footprint.“Small businesses are the foundation of the U.S. economy and Synovus is proud to have served so many customers and communities through our participation in the Paycheck Protection Program,” said Kessel D. Stelling, Synovus chairman and CEO. “Even before the official launch of PPP on April 3, hundreds of Synovus team members began working diligently, proactively communicating with customers earl Show less Read more
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