Synovus posted its third straight quarterly profit

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Synovus Financial Corp. posted its third straight quarterly profit as the bank set aside lesser money to cover bad loans.

For the first-quarter, the bank posted a net income of $21.4 million, or 2 cents a share, compared to a loss of $93.7 million, or 11 cents a share, a year earlier.

Provision for loan losses fell 53 percent to $66.0 million

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