Here’s how Columbus-based companies Aflac, Synovus and TSYS did in Q2 of 2019

Aflac, Synovus and TSYS, three major Columbus-based companies, announced their second-quarter financial results in the past few weeks.

How’d they fare? Two of them reported profits above their 2018 second-quarter marks. And TSYS is working to finalize a large merger.

Here are a few things to know about their finances and future.


TSYS, the Columbus-headquartered company that processes credit card transactions in the U.S. and internationally, reported a Q2 profit of approximately $162.8 million — an increase of 14.3% compared to the approximately $142.4 million in net income reported a year ago.

Some key points from its report include:

Total revenues were approximately $1.04 billion, an increase from approximately $1.01 billion from a year ago.

Net revenue, which includes reimbursable items, was approximately $979.9 million — an increase from approximately $956.5 in Q2 2018.

“We were pleased to deliver another quarter of solid performance with increases in net revenue and adjusted diluted EPS, and margin expansion,” said M. Troy Woods, Chairman, President and CEO of TSYS in a statement. “We also remain confident that the combined strengths of merging with Global Payments will enhance shareholder value and create opportunities for our team members and customers.”

The earnings report comes months after TSYS announced it would merge with Atlanta-based Global Payments. TSYS officials characterized the transaction as an “all-stock merger of equals.” The merger is expected to close in the fourth quarter of 2019, and the new company will be called Global Payments.

Michael Peters, a TSYS stockholder, filed a federal, class-action lawsuit in Georgia’s Middle District in mid-July. The lawsuit alleges the company, among other things, “failed to disclose certain material information that is necessary for shareholders to properly assess the fairness of the proposed transaction.”

Those failures, he alleges, violate SEC rules and regulations. Peters is seeking to prevent the shareholder vote from taking place and to stop TSYS from taking any other steps toward completing the merger.

Named as defendants in the lawsuit are TSYS and company officers such as Woods and others.

A copy of the earnings report can be found here

A copy of the lawsuit can be found below:


Aflac Incorporated, a Fortune 500 company based in Columbus, reported a Q2 profit of $817 million in 2019, down from net earnings of $832 million the company posted a year ago.

Some key points include:

Total revenues dropped slightly from $5.6 billion in Q2 2018 to $5.5 billion in Q2 2019.

For the first six months of 2019, total revenues were up. In 2019, the company brought in $11.2 billion in the first half of the year compared to $11.1 billion in 2018.

Total investments and cash at the end of June 2019 were $136.6 billion, compared with $127.9 billion at June 30, 2018.

In July, Aflac entered into an agreement to acquire Argus Holdings, LLC and its subsidiary Argus Dental & Vision, Inc., a benefits-management organization and national network dental and vision company.

Aflac Japan, the company’s largest earnings contributor, generated financial results that were in line with the company’s expectations for the quarter and first half of the year, said Chairman and Chief Executive Officer Daniel P. Amos in a statement.

“In yen terms, results on an adjusted basis were better than expected for the quarter, resulting primarily from strong investment income and improved benefit ratios,” he said. “We continue to expect Aflac Japan to deliver solid results in 2019 with protection-type first and third sector earned premium growth of 1% to 2%.”

Sales results for the company’s U.S. operations were less than expected for the quarter but the company is still happy with the performance, Amos said.

“We are pleased with the financial performance of Aflac U.S. in the quarter, which is particularly significant because these results also reflect ongoing investment in our platform, distribution and customer experience,” he said. “While our sales results were less than we expected for the quarter, keep in mind, our production tends to be skewed toward the fourth quarter. We continue to expect Aflac U.S. to deliver solid results in 2019 with earned premium growth of 2% to 3%.”

A copy of the Aflac’s earnings report can be found below


Synovus, a financial services company based in Columbus, reported Q2 2019 profit of approximately $153 million, an increase from a reported net income of $109 million reported a year ago.

Some points of interest from the company’s report include:

Total deposits ended the quarter at $37.97 billion, down $108.5 million or 1.1% annualized from Q1 2019.

Total loans ended the quarter at $36.14 billion, up $504.1 million or 5.7% annualized from Q1 2019 with growth across all categories.

Average non-interest-bearing deposits excluding public funds were up $312.4 million or 15.1% sequentially.

The company completed the integration of all Florida Community Bank (FCB) systems, customers, branches, and branding.

“Our results in the second quarter reflect the strength of our core business and our geography, with broad-based loan growth and solid credit and profitability metrics,” said Kessel D. Stelling, Synovus Chairman and CEO in a statement. “We are pleased with the early wins in our expanded Florida footprint as we introduce our broader capabilities to new customers and prospects.”

A copy of Synovus’ earnings report can be found below

Nick Wooten is the Southern Trends and Culture reporter for McClatchy’s South region. He is based in Columbus, Georgia at the Ledger-Enquirer but his work also appears in The (Macon) Telegraph and The Sun Herald in Biloxi.Before joining McClatchy, he worked for The (Shreveport La.) Times covering city government and investigations. He is a graduate of Mercer University in Macon, Georgia.