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Article: Synovus Financial Corp.(R) Reports 18.7% Increase in Net Income for 2001; Net Interest Income and TSYS Income Growth Drive Profitability.
- Article from:
- PR Newswire
- Article date:
- January 16, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COLUMBUS, Ga. -- Synovus Financial Corp. , the Columbus, Ga.-based multi-financial services company, today announced net income was $311.6 million for 2001, up 18.7%, and $85.2 million for the fourth quarter of 2001, up 14.1%, compared to $262.6 million and $74.7 million, for the same periods in 2000. Diluted earnings per share were $1.05 for the year, up 15.1% over last year's $0.92. For the fourth quarter, diluted earnings per share were $0.29, an increase of 11.0% over $0.26 per share for the same period in 2000. Major contributors to the growth in net income include strong growth in loans and fee income. An improving net interest margin and expense management also ...