Synovus Financial Corp. of Columbus, Ga., posted a third-quarter net loss of $26.9 million, or 8 cents a share, citing substantially higher credit costs compared with prior quarters.

On average, analysts were expecting a net gain of 7 cents, according to Thomson Reuters. The $34.4 billion-asset Synovus earned $12.1 million in the second quarter and $134.9 million in last year’s third quarter.

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