Synovus Financial Insights

Katherine Weislogel's career began by being in the right place at the right time.

The Georgia-based bank says it's expanding its relationship with GreenSky, a home improvement lender that Goldman Sachs bought in 2022 but put up for sale a year later. The deal will bring a one-time revenue boost and a recurring fee income stream.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

Aileen Thomas oversees the six-member consumer bank product management team, which includes consumer and business banking: deposits, home equity and personal lending, debit and credit cards.

Lenders are bracing for more companies to fall behind on their loan payments. That could create more opportunities for banks to dispose of these nonperforming credits through an Article 9 sale.

After filling various roles at the Columbus, Georgia-based bank for almost 20 years, Liz Wolverton was tapped to lead the consumer bank in December 2021.

The Georgia bank warns that the one-two punch of rising inflation and supply-chain issues on its smaller commercial customers makes that asset class “something we would watch” for potential losses.

Costs climbed 11% in the fourth quarter, but the Georgia company says it remains on track to generate $175 million by the end of this year through a combination of expense cuts and revenue enhancements.