Synovus Financial (SNV) took a victory lap Tuesday — but it will have to keep the celebration brief.

The Columbus, Ga., company had good news to share about the fourth quarter after years of elevated credit costs and takeover speculation. It reported earnings of $712.8 million, up from $12.8 million a year earlier, after recapturing roughly $800 million of the value of a deferred tax asset.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.