8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

January 18, 2006

Date of Report

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

Georgia
(State of Incorporation) 1-10312
(Commission File Number) 58-1134883
(IRS Employer Identification No.)

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 649-2267

(Registrant's telephone number, including area code)

________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01	Entry into a Material Definitive Agreement.
	On January 18, 2006, the Compensation Committee of the Board of Directors of Synovus Financial Corp. (“Registrant”) adopted the form of Stock Option Agreement and the form of Restricted Stock Award Agreement to be used by Registrant in connection with future option and restricted stock award grants made pursuant to the Synovus Financial Corp. 2002 Long-Term Incentive Plan. The form of agreements are attached hereto as Exhibits 10.1 and 10.2 and are incorporated by reference herein. The Synovus Financial Corp. 2002 Long-Term Incentive Plan is filed as Exhibit 10.4 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2001.
Item 2.02	Results of Operations and Financial Condition.
	On January 18, 2006, Registrant issued a press release and will hold an investor call and webcast to disclose financial results for the year ended December 31, 2005. The press release and Supplemental Information for use at this investor call are attached and filed herewith as Exhibits 99.1 and 99.2 and incorporated herein by reference.
Item 7.01	Regulation FD Disclosure.
	See Item 2.02 above.
Item 9.01	Financial Statements and Exhibits.
	(c)	Exhibits
	Exhibit No.	Description
	10.1	Form of Stock Option Agreement for the Synovus Financial Corp. 2002 Long-Term Incentive Plan
	10.2	Form of Restricted Stock Award Agreement for the Synovus Financial Corp. 2002 Long-Term Incentive Plan
	99.1	Registrant's press release dated January 18, 2006 (filed for purposes of Item 2.02)
	99.2	Supplemental Information prepared for use with the press release (filed for purposes of Item 2.02)

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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SYNOVUS FINANCIAL CORP. ("Registrant")
Dated: January 18, 2006	By:/s/ Kathleen Moates Kathleen Moates Senior Deputy General Counsel

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EX-10.1

Exhibit 10.1

	SYNOVUS FINANCIAL CORP.
STOCK OPTION AGREEMENT

[DATE]

THIS AGREEMENT ("Agreement"), dated as of the ___ day of _____________, 200__, by and between SYNOVUS FINANCIAL CORP. (the "Company"), a Georgia corporation having its principal office at 1111 Bay Avenue, Suite 500, Columbus, Georgia, and ___________________________ (the "Option Holder"), an employee of the Company or a Subsidiary of the Company.

WITNESSETH:

WHEREAS, the Board of Directors of the Company has adopted the Synovus Financial Corp. 2002 Employee Long-Term Incentive Plan (the "Plan"); and

WHEREAS, the Company recognizes the value to it of the services of the Option Holder and intends to provide the Option Holder with added incentive and inducement to contribute to the success of the Company; and

WHEREAS, the Company recognizes the potential benefits of providing employees the opportunity to acquire an equity interest in the Company and to more closely align the personal interests of employees with those of other shareholders; and

WHEREAS, effective _____________, pursuant to the Plan, the Compensation Committee of the Board of Directors of the Company: (a) granted to the Option Holder, pursuant to Section 6 of the Plan, an Option in respect of the number of shares herein below set forth, (b) designated the Option a Non-Qualified Stock Option, and (c) fixed and determined the Option price and exercise and termination dates as set forth below.

NOW THEREFORE, in consideration of the mutual promises and representations herein contained and other good and valuable consideration, it is agreed by and between the parties hereto as follows:

1.The terms, provisions and definitions of the Plan are incorporated by reference and made a part hereof. All capitalized terms in this Agreement shall have the same meanings given to such terms in the Plan except where otherwise noted.

2.Subject to and in accordance with the provisions of the Plan, the Company hereby grants to the Option Holder a Non-Qualified Stock Option to purchase, on the terms and subject to the conditions hereinafter set forth, all or any part of an aggregate of NUMBER OF OPTIONS shares of the Common Stock ($1.00 par value) of the Company at the purchase price of $____ per share, exercisable in the amounts and at the times set forth in this Paragraph 2, unless the Compensation Committee, in its sole and exclusive discretion, shall authorize the Option Holder to exercise all or part of the Option at an earlier date.

The Option may be exercised on or after ______________, as provided in the Plan.

[OR]

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The Option may be exercised in accordance with the following schedule as provided in the Plan:

	If employment		Percentage of
continues through		Option Exercisable

_____________, 2000__ ____%

[or]

_____________, 2000__ ____%

[or]

_____________, 2000__ ____%

[In addition, the Option may be exercised in the event Option Holder’s employment with Company terminates after Option Holder has attained age 62 (or greater) with 15 or more years of service.]

Unless sooner terminated as provided in the Plan or in this Agreement, the Option shall terminate, and all rights of the Option Holder hereunder shall expire on _____________. In no event may the Option be exercised after _____________.

3.The Option or any part thereof, may, to the extent that it is exercisable, be exercised in the manner provided in the Plan. Payment of the aggregate Option price for the number of shares purchased and any withholding taxes shall be made in the manner provided in the Plan.

4.The Option or any part thereof may be exercised during the lifetime of the Option Holder only by the Option Holder and only while the Option Holder is in the employ of the Company, except as otherwise provided in the Plan.

5.Unless otherwise designated by the Compensation Committee, the Option shall not be transferred, assigned, pledged or hypothecated in any way. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of a nontransferable Option or any right or privilege confirmed hereby contrary to the provisions hereof, the Option and the rights and privileges confirmed hereby shall immediately become null and void.

6.In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, or other change in corporate structure affecting the Company’s Stock, any necessary adjustment shall be made in accordance with the provisions of Section 4 of the Plan.

7.In the event of a Change of Control (as defined in Section 11 of the Plan), the provisions of Section 11 of the Plan shall apply.

8.Any notice to be given to the Company shall be addressed to the President of the Company at 1111 Bay Avenue, Suite 500, Columbus, Georgia 31901.

9.Nothing herein contained shall affect the right of the Option Holder to participate in and receive benefits under and in accordance with the provisions of any pension, insurance or other benefit plan or program of the Company as in effect from time to time and for which the Option Holder is eligible.

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10.Nothing herein contained shall affect the right of the Company, subject to the terms of any written contractual arrangement to the contrary, to terminate the Option Holder’s employment at any time for any reason whatsoever.

11.This Agreement shall be binding upon and inure to the benefit of the Option Holder, his personal representatives, heirs legatees, but neither this Agreement nor any rights hereunder shall be assignable or otherwise transferable by the Option Holder except as expressly set forth in this Agreement or in the Plan.

Company has issued the Option with foregoing the terms and conditions in accordance with the provisions of the Plan. You will be deemed to have agreed to the foregoing terms and conditions of the Option, unless you object by notifying the Synovus Compensation Department within 30 days after your receipt of this Agreement.

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EX-10.2

Exhibit 10.2

RESTRICTED STOCK AWARD AGREEMENT

THIS RESTRICTED STOCK AWARD AGREEMENT (“Agreement”) is made effective as of _____________________, 200__, by and between SYNOVUS FINANCIAL CORP., a Georgia corporation (the “Corporation”), and ______________________________ (“Executive”).

WHEREAS, Executive has been awarded _______ fully paid and non-assessable shares of the Common Stock of the Corporation, par value $1.00 per share (“Restricted Shares”), pursuant to the terms and conditions of the Corporation’s 2002 Long-Term Incentive Plan (“Plan”) and this Agreement; and

WHEREAS, the Restricted Shares will be held in an account at Mellon Investor Services, LLC (“Mellon”) for Executive until the shares become transferable and non-forfeitable in accordance with the terms and conditions of the Plan and this Agreement.

NOW, THEREFORE, in accordance with the provisions of the Plan and this Agreement, Executive hereby agrees to the following terms and conditions:

1. Transfer of Shares; Custody of Restricted Shares

The Corporation hereby transfers the Restricted Shares to Executive subject to the terms and conditions set forth in the Plan and in this Agreement. Effective upon the date of such transfer, Executive will be the holder of record of the Restricted Shares and will have all rights of a shareholder with respect to such shares (including the right to vote such shares at any meeting at which the holders of the Corporation's Common Stock may vote, the right to receive all dividends declared and paid upon such shares and the right to exercise any rights or warrants issued in respect of any such shares), subject only to the terms and conditions set forth in the Plan and in this Agreement. The Restricted Shares will be held in an account for Executive at Mellon, who will hold the shares in accordance with the terms and conditions set forth in the Plan and in this Agreement.

2. Restriction Against Transfer

Neither the Restricted Shares nor any interest in the Restricted Shares may be sold, assigned, transferred, pledged or hypothecated or otherwise be disposed of or encumbered except at the time(s) and under the circumstances specifically permitted or required by this Agreement including, but not limited to, any pledge of the Restricted Shares. In the event of any attempt to effect any action in contravention of the next preceding sentence, then, any provision of this Agreement to the contrary notwithstanding, such Restricted Shares shall thereupon be forfeited to the Corporation.

3. Forfeiture Condition

Any Restricted Shares which do not vest pursuant to the provisions of Section 4 below will be forfeited to the Corporation unless the Corporation’s Compensation Committee in its sole discretion determines otherwise, as more fully provided in Section 4 below.

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4. Vesting of Restricted Shares

(a) Vesting Conditions. If Executive remains in the continuous employ of the Corporation or a Subsidiary of the Corporation through the date(s) indicated in Column I below, the Restricted Shares will become non-forfeitable (i.e., "vest") to the extent indicated in Column II below:

		(I)			(II)
	If employment			the % of the Restricted
continues through			then	Shares which vests is

____________, 200__ 100%

[or]

____________, 200__ ___%

[or]

____________, 200__ ___%

[or]

____________, 200__ ___%

[or]

____________, 200__ ___%

[or]

____________, 200__ ___%

Such vesting will occur (to the extent indicated in Column (II) above) at the close of business on the applicable date(s) indicated in Column (I) above. Any Restricted Shares which are not vested on the date of Executive’s termination of employment will be forfeited to the Corporation, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

(b) Effect of Voluntary Termination or Termination for Cause or Suicide. If Executive’s employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all Restricted Shares vest pursuant to the provisions of paragraph 4(a) above, then any Restricted Shares which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

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(c) Effect of Death (Other Than by Suicide) or Disability. If Executive’s employment with the Corporation and its Subsidiaries terminates by reason of Executive’s death (other than by suicide) or Disability, then any Restricted Shares which are not vested at the time of such termination will become vested automatically.

(d) Effect of Retirement or Leave of Absence. If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s Retirement, Executive will receive the Restricted Shares that are vested on the date of Executive’s Retirement. Any Restricted Shares which are not vested on the date of Executive’s Retirement will be forfeited to the Corporation, unless the Compensation Committee in its sole and exclusive discretion determines otherwise. A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its subsidiaries for purposes of this Section 4 or any other provision of this Agreement.

(e) No Forfeiture of Vested Shares. Any Restricted Share which vests pursuant to the preceding provisions of this Section 4 will not thereafter be forfeited. As soon as practicable after any Restricted Shares vest pursuant to the preceding provisions of this Section 4, Mellon will transfer or deliver such shares to Executive free of any restrictions imposed pursuant to the terms and conditions set forth in this Agreement, but not necessarily free of restrictions imposed by applicable securities laws.

5. Effect of Forfeiture

Any Restricted Shares which are forfeited to the Corporation pursuant to any provision of this Agreement will be surrendered and such shares will thereupon be canceled. All of Executive’s rights and interests in and to such shares (including the purchase price, if any, paid for such shares) will terminate upon such forfeiture without any payment of consideration by the Corporation, unless otherwise determined by the Committee.

6. General Provisions

(a) Administration, Interpretation and Construction. The terms and conditions set forth in this Agreement will be administered, interpreted and construed by the Compensation Committee, whose decisions will be final, conclusive and binding on the Corporation, on Executive and on anyone claiming under or through the Corporation or Executive. Without limiting the generality of the foregoing, any determination as to whether an event has occurred or failed to occur which causes the Restricted Shares to be forfeited pursuant to the terms and conditions set forth in this Agreement, will be made in the good faith but absolute discretion of the Compensation Committee. By accepting the transfer of Restricted Shares, Executive irrevocably consents and agrees to the terms and conditions set forth in this Agreement and to all actions, decisions and determinations to be taken or made by the Compensation Committee in good faith pursuant to the terms and conditions set forth in this Agreement.

(b) Withholding. The Corporation will have the right to withhold from any payments to be made to Executive (whether under this Agreement or otherwise) any taxes the Corporation determines it is required to withhold with respect to Executive under the laws and regulations of any governmental authority, whether Federal, state or local and whether domestic or foreign, in

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connection with this Agreement, including, without limitation, taxes in connection with the transfer of Restricted Shares or the lapse of restrictions on Restricted Shares. Failure to submit any such withholding taxes shall be deemed to cause otherwise lapsed restrictions on Restricted Shares not to lapse.

(c) Rights Not Assignable or Transferable. No rights under this Agreement will be assignable or transferable other than by will or the laws of descent and distribution, either voluntarily, or, to the full extent permitted by law, involuntarily, by way of encumbrance, pledge, attachment, levy or charge of any nature except as otherwise provided in this Agreement. Executive’s rights under this Agreement will be exercisable during Executive’s lifetime only by Executive or by Executive’s guardian or legal representative.

(d) Terms and Conditions Binding. The terms and conditions set forth in the Plan and in this Agreement will be binding upon and inure to the benefit of the Corporation, its successors and assigns, including any assignee of the Corporation and any successor to the Corporation by merger, consolidation or otherwise, and Executive, Executive’s heirs, devisees and legal representatives. In addition, the terms and conditions set forth in the Plan and in this Agreement will be binding upon and inure to the benefit of Mellon and its successors and assigns.

(e) No Employment Rights. No provision of this Agreement or the Plan will be deemed to confer upon Executive any right to continue in the employ of the Corporation or a Subsidiary or will in any way affect the right of the Corporation or a Subsidiary to dismiss or otherwise terminate Executive’s employment at any time for any reason with or without cause, or will be construed to impose upon the Corporation or a Subsidiary any liability for any forfeiture of Restricted Shares which may result under this Agreement if Executive’s employment is so terminated.

(f) No Liability for Good Faith Business Acts or Omissions. Executive recognizes and agrees that the Compensation Committee, the Board, or the officers, agents or employees of the Corporation and its Subsidiaries, in their oversight or conduct of the business and affairs of the Corporation and its Subsidiaries, may in good faith cause the Corporation or a Subsidiary to act, or to omit to act, in a manner that may, directly or indirectly, prevent the Restricted Shares from vesting. No provision of this Agreement will be interpreted or construed to impose any liability upon the Corporation, a Subsidiary, the Compensation Committee, Board or any officer, agent or employee of the Corporation or a Subsidiary, for any forfeiture of Restricted Shares that may result, directly or indirectly, from any such action or omission.

(g) Recapitalization. In the event that Executive receives, with respect to Restricted Shares, any securities or other property (other than cash dividends) as a result of any stock dividend or split, spin-off, recapitalization, merger, consolidation, combination or exchange of shares or a similar corporate change, any such securities or other property received by Executive will likewise be held by Mellon and be subject to the terms and conditions set forth in this Agreement and will be included in the term "Restricted Shares."

(h) Appointment of Agent. By accepting the transfer of Restricted Shares, Executive irrevocably nominates, constitutes, and appoints Mellon as Executive’s agent for purposes of surrendering or transferring the Restricted Shares to the Corporation upon any forfeiture required or

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authorized by this Agreement. This power is intended as a power coupled with an interest and will survive Executive’s death. In addition, it is intended as a durable power and will survive Executive’s disability.

(i) Legal Representative. In the event of Executive’s death or a judicial determination of Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to Executive’s heirs or devises.

(j) Titles. The titles to sections or paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the title of any section or paragraph.

(k) Plan Governs. The Restricted Shares are being transferred to Executive pursuant to and subject to the Plan, a copy of which is available upon request to the Corporate Secretary of the Corporation. The provisions of the Plan are incorporated herein by this reference, and all capitalized terms in this Agreement shall have the same meanings given to such terms in the Plan. The terms and conditions set forth in this Agreement will be administered, interpreted and construed in accordance with the Plan, and any such term or condition which cannot be so administered, interpreted or construed will to that extent be disregarded.

(l) Complete Agreement. This instrument contains the entire agreement of the parties relating to the subject matter of this Agreement and supersedes and replaces all prior agreements and understandings with respect to such subject matter. The parties hereto have made no agreements, representations or warranties relating to the subject matter of this Agreement which are not set forth herein or incorporated by reference.

(m) Amendment; Modification; Waiver. No provision set forth in this Agreement may be amended, modified or waived unless such amendment, modification or waiver shall be authorized by the Compensation Committee and shall be agreed to in writing, signed by Executive and by an officer of the Corporation duly authorized to do so. No waiver by either party hereto of any breach by the other party of any condition or provision set forth in this Agreement to be performed by such other party will be deemed a waiver of a subsequent breach of such condition or provision, or will be deemed a waiver of a similar or dissimilar provision or condition at the same time or at any prior or subsequent time.

(n) Governing Law. The validity, interpretation, performance and enforcement of the terms and conditions set forth in this Agreement will be governed by the laws of the State of Georgia, the state in which the Corporation is incorporated, without giving effect to the principles of conflicts of law of that state.

The Corporation has issued the Restricted Shares in accordance with the foregoing terms and conditions and in accordance with the provisions of the Plan. By signing below, Executive hereby agrees to the foregoing terms and conditions of the Restricted Shares.

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IN WITNESS WHEREOF, Executive has set Executive’s hand and seal, effective as of the date and year set forth above.

(L.S.)

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EX-99.1

Exhibit 99.1

For Immediate Release

Contact:	Patrick A. Reynolds
	Director of Investor Relations
	(706) 649-4973

Synovus Reports 15.6% Increase in Net Income for Fourth Quarter 2005 and 18.2% for the Full Year 2005

TSYS’ and Financial Services Segment’s Excellent Growth Momentum Continues

Columbus, Ga., January 18, 2006 — Synovus’ fourth quarter net income grew 15.6% over the fourth quarter 2004 to $137.3 million, which represented earnings per share growth of 14.9% to $.44 per share, Synovus’ President and Chief Executive Officer Richard E. Anthony announced today. For the full year, net income grew 18.2% and earnings per share increased 16.5% over 2004.

“Throughout 2005, the excellent growth momentum at both TSYS and Synovus’ Financial Services segment combined for a very solid 16.5% growth in earnings per share over 2004,” said Anthony. “Expanding margin, strong loan growth, and excellent credit quality drove the earnings momentum for the Financial Services segment. TSYS’ results were driven by the continued strong growth in its fundamental core business, expanding merchant services, and stronger than expected growth in value added services.”

Return on assets was 2.00% and return on equity was 18.74% for the fourth quarter 2005, compared to 1.91% and 17.92%, respectively, in the same period last year. For the full year, return on assets was 1.96% and return on equity was 18.45% compared to 1.88% and 17.63%, respectively, in 2004. Shareholders’ equity at December 31, 2005, was $2.95 billion, which representeda very strong 10.69% of quarter-end assets. Total assets ended the quarter at $27.6 billion, an increase of 10.3% from the same period last year.

Financial Services’ net income was up 15.7 % over the fourth quarter last year and up 14.0% for the full year over 2004. Net interest income grew 15.9% over the fourth quarter last year as the net interest margin expanded to 4.32% in the fourth quarter from 4.18% last quarter. The net interest margin expansion was primarily due to increased yields on the variable rate portion of the loan portfolio, which remains at approximately 63% of total loans. Total deposit growth exceeded loan growth – a corporate goal for 2005 – as total deposits grew 11.9% (13.6% excluding brokered time deposits) over last year, while total loans grew 9.8%.

Asset quality remained excellent. The net charge-off ratio was 0.28% compared to 0.27% for the fourth quarter of last year. For the year, the net charge-off ratio is 0.29% compared to a targeted ratio of 0.30% for 2005. The ratio of nonperforming assets to loans and other real estate was 0.46%, down from 0.49% at the end of last quarter and 0.52% a year ago. The allowance for loan losses was 1.35% of loans,

Post Office Box 120 / Columbus, GA 31902

www.synovus.com

Synovus Reports 15.6% Increase in Net Income for Fourth Quarter/p. 2

which provides coverage of 352% of nonperforming loans. The provision for loan losses covered net charge-offs by 1.41x for the quarter and the year.

Financial Services’ non-interest income was up 5.0% over the fourth quarter last year with increases in credit card fees of 21.8%, brokerage and investment banking revenue of 23.4%, mortgage banking revenue of 4.5%, and fiduciary and asset management fees – which include trust, financial planning and asset management fees – of 1.6%. Service charges on deposit accounts were essentially flat compared to last quarter and down 5.2% compared to the fourth quarter last year. Financial Services’ non-interest expense was up 10.0% compared to the fourth quarter of 2004. Expense control remains on track as the efficiency ratio was 49.2% for the quarter and 49.8% for the full year.

TSYS reported net income of $49.7 million for the fourth quarter 2005 compared to $43.0 million last year. Diluted earnings per share for the quarter increased by 15.6% to $0.25, up from $0.22 last year. Full year net income and earnings per share were up 29% over 2004. During the quarter, TSYS expanded its operations in China with a 34% equity interest in China UnionPay Data, executed a long-term agreement with Toronto-Dominion Bank, Canada, to provide a range of processing and support services for its consumer and commercial credit card accounts, and extended agreements with Allied Irish Banks of Dublin, Ireland and Metavante of Milwaukee, Wisconsin. TSYS expects to de-convert the Citigroup Sears portfolio and Bank of America’s consumer portfolio in 2006. With the record number of new accounts in the conversion pipeline and a one-time termination fee from Bank of America, TSYS expects to achieve another record year in 2006 with earnings per share growth in the range of 21 – 23 % compared to 2005.

Anthony concluded, “Synovus exceeded its expectations for 2005 with excellent growth momentum in both the Financial Services segment and TSYS. As we look into 2006, an important initiative is the acceleration of our commercial and industrial loan growth. Our focus for this initiative is to broaden existing relationships with the cross sales and penetration of specialty products such as corporate cash management, asset–based loans, and capital markets products. Our retail banking initiative, which we implemented in 2005, is expected to expand core deposit growth and fee income from retail product sales this year. Synovus will continue to focus on growing deposits, managing the loan growth, quality and mix, maintaining a strong margin, expanding fee income and continuing to refine our processes to improve efficiencies. With our very dedicated and highly motivated team members and our strong balance sheet, we believe we are in position to achieve higher earnings performance throughout the year and beyond. In 2006, we expect that short-term interest rates will increase slightly, the credit environment will remain favorable, and TSYS will perform within its range of guidance. Based on these assumptions, we expect 2006 earnings per share growth of 12 – 14% over reported amounts for 2005, which equates to a range of $1.84 to $1.87 for 2006. This expectation includes the estimated impact of expensing the fair value of stock options beginning in 2006 as well as expenses associated with restricted stock awards. The incremental (as compared to 2005) after-tax expense for both options and restricted stock awards in 2006 is estimated at $17 million which represents approximately 5 cents per diluted share or 3.2% of reported 2005 diluted earnings per share.”

Synovus will host an earnings highlights conference call at 4:30 p.m. ET, on January 18, 2006. The conference call will be available in the Investor Relations section of www.synovus.com under the “Conference Calls and Webcasts” tab. Please log on 5-10 minutes ahead of the call time.

Synovus (NYSE: “SNV”) is a diversified financial services holding company with over $27 billion in assets based in Columbus, Georgia. Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 39 banks and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment processing through an 81-percent stake in TSYS (NYSE: “TSS”), the world’s largest third-party processor of

Post Office Box 120 / Columbus, GA 31902

www.synovus.com

Synovus Reports 15.6% Increase in Net Income for Fourth Quarter/p. 3

international payments. Synovus has been named one of “The 100 Best Companies To Work For”

in America by FORTUNE magazine, and has been recognized in its Hall of Fame for consecutive appearances on the list since its inception in 1998. In 2005, Synovus was also named as one of “America’s Most Admired Companies”. See Synovus on the Web at www.synovus.com.

This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding TSYS’ expected growth in earnings for 2006, TSYS’ expected de-conversion of Citigroup Sears and Bank of America’s consumer accounts in 2006, Synovus’ belief that is in position to achieve higher earnings performance, the expected after-tax expense for both options and restricted stock awards in 2006, Synovus’ expected growth in earnings per share for 2006, and the assumptions underlying such statements, including, with respect to Synovus’ expected increase in earnings per share for 2006, short-term interest rates will increase slightly; the credit environment will remain favorable; and TSYS will perform within its range of guidance. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. A number of important factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict. These factors include, but are not limited to, competitive pressures arising from aggressive competition from other financial service providers; factors that affect the delinquency rate on Synovus’ loans and the rate at which Synovus’ loans are charged off; changes in the cost and availability of funding due to changes in the deposit market and credit market, or the way in which Synovus is perceived in such markets; inflation, interest rate, market and monetary fluctuations; TSYS’ earnings growth is lower that anticipated; the strength of the United States economy in general and the strength of the local economies in which Synovus conducts operations may be different than expected; the timely development of competitive new products and services and the acceptance of such by customers; Synovus’ inability to control expenses; a deterioration in credit quality or a reduced demand for credit; the costs and effects of litigation, investigations, or similar matters, or adverse facts and developments related thereto; the impact of the application of and/or changes in accounting principles; the effects of changes in government policy and regulations, including restrictions and/or limitations arising from banking laws, regulations and examinations; and the impact on Synovus’ business, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise.

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Post Office Box 120 / Columbus, GA 31902

www.synovus.com

EX-99.2

Exhibit 99.2

	SYNOVUS					4 of 11
	INCOME STATEMENT		Twelve Months Ended
	(In thousands, except per share data)		December 31,
			2005		2004	Change
	Interest Income (Taxable Equivalent)	$	1,502,664		1,165,980	28.9	%
	Interest Expense		527,378		298,341	76.8
	Net Interest Income (Taxable Equivalent)		975,286		867,639	12.4
	Tax Equivalent Adjustment		6,439		6,960	(7.5)
	Net Interest Income		968,847		860,679	12.6
	Provision for Loan Losses		82,532		75,319	9.6
	Net Interest Income After Provision		886,315		785,360	12.9
	Non-Interest Income:
	Electronic Payment Processing Services		867,914		755,267	14.9
	Merchant Services		237,418		26,169	nm
	Other Transaction Processing Services Revenue		183,412		170,905	7.3
	Service Charges on Deposits		112,788		121,450	(7.1)
	Fiduciary and Asset Management Fees		44,886		43,001	4.4
	Brokerage and Investment Banking Revenue		24,487		21,748	12.6
	Mortgage Banking Income		28,682		26,300	9.1
	Credit Card Fees		37,638		30,174	24.7
	Securities Gains (Losses)		463		75	nm
	Other Fee Income		32,914		29,227	12.6
	Other Non-Interest Income		35,597		67,157	(47.0)
	Non-Interest Income before Reimbursable Items		1,606,199		1,291,473	24.4
	Reimbursable Items		312,280		229,538	36.0
	Total Non-Interest Income		1,918,479		1,521,011	26.1
	Non-Interest Expense:
	Personnel Expense		836,371		731,579	14.3
	Occupancy & Equipment Expense		368,210		321,689	14.5
	Other Non-Interest Expense		426,530		305,560	39.6
	Non-Interest Expense before Reimbursable Items		1,631,111		1,358,828	20.0
	Reimbursable Items		312,280		229,538	36.0
	Total Non-Interest Expense		1,943,391		1,588,366	22.4
	Minority Interest in Consolidated Subsidiaries		37,381		28,724	30.1
	Income Before Taxes		824,022		689,281	19.5
	Income Tax Expense		307,576		252,248	21.9
	Net Income	$	516,446		437,033	18.2
	Basic Earnings Per Share	$	1.66		1.42	16.6
	Diluted Earnings Per Share		1.64		1.41	16.5
	Dividends Declared Per Share		0.73		0.69	5.3
	Return on Assets		1.96	%	1.88	8	bp
	Return on Equity		18.45		17.63	82
	Average Shares Outstanding - Basic		311,495		307,262	1.4	%
	Average Shares Outstanding - Diluted		314,815		310,330	1.4
bp - change is measured as difference in basis points.
nm - not meaningful

	SYNOVUS												5 of 11
	INCOME STATEMENT
	(In thousands, except per share data)		2005								2004		4th Quarter
			Fourth		Third		Second		First		Fourth		'05 vs. '04
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	420,898		388,076		360,763		332,927		314,019		34.0	%
	Interest Expense		159,237		141,587		122,110		104,444		88,281		80.4
	Net Interest Income (Taxable Equivalent)		261,661		246,489		238,653		228,483		225,738		15.9
	Tax Equivalent Adjustment		1,566		1,664		1,588		1,621		1,703		(8.1)
	Net Interest Income		260,095		244,825		237,065		226,862		224,035		16.1
	Provision for Loan Losses		20,787		19,639		22,823		19,283		20,855		(0.3)
	Net Interest Income After Provision		239,308		225,186		214,242		207,579		203,180		17.8
	Non-Interest Income:
	Electronic Payment Processing Services		223,844		223,123		215,784		205,163		197,129		13.6
	Merchant Services		67,409		74,208		68,696		27,105		6,411		nm
	Other Transaction Processing Services Revenue		45,544		44,030		45,324		48,514		45,224		0.7
	Service Charges on Deposits		28,738		28,748		28,175		27,127		30,321		(5.2)
	Fiduciary and Asset Management Fees		11,544		11,167		11,138		11,037		11,326		1.9
	Brokerage and Investment Banking Revenue		6,616		5,801		5,807		6,263		5,361		23.4
	Mortgage Banking Income		7,078		8,276		7,430		5,898		6,773		4.5
	Credit Card Fees		10,692		9,563		9,291		8,092		8,775		21.8
	Securities Gains (Losses)		(135)		0		327		271		164		nm
	Other Fee Income		9,377		8,217		7,834		7,486		7,654		22.5
	Other Non-Interest Income		6,689		12,599		7,325		8,984		12,162		(45.0)
	Non-Interest Income before Reimbursable Items		417,396		425,732		407,131		355,940		331,300		26.0
	Reimbursable Items		84,306		79,644		79,161		69,170		57,039		47.8
	Total Non-Interest Income		501,702		505,376		486,292		425,110		388,339		29.2
	Non-Interest Expense:
	Personnel Expense		224,251		213,695		208,596		189,829		175,369		27.9
	Occupancy & Equipment Expense		93,965		98,772		88,839		86,634		77,039		22.0
	Other Non-Interest Expense		110,608		113,300		110,015		92,607		88,639		24.8
	Non-Interest Expense before Reimbursable Items		428,824		425,767		407,450		369,070		341,047		25.7
	Reimbursable Items		84,306		79,644		79,161		69,170		57,039		47.8
	Total Non-Interest Expense		513,130		505,411		486,611		438,240		398,086		28.9
	Minority Interest in Consolidated Subsidiaries		9,571		9,306		9,672		8,832		8,143		17.5
	Income Before Taxes		218,309		215,845		204,251		185,617		185,290		17.8
	Income Tax Expense		81,049		81,853		75,791		68,883		66,568		21.8
	Net Income	$	137,260		133,992		128,460		116,734		118,722		15.6
	Basic Earnings Per Share	$	0.44		0.43		0.41		0.38		0.38		14.7
	Diluted Earnings Per Share		0.44		0.43		0.41		0.37		0.38		14.9
	Dividends Declared Per Share		0.18		0.18		0.18		0.18		0.17		5.3
	Return on Assets		2.00	%	2.01	%	1.98	%	1.86	%	1.91	%	9	bp
	Return on Equity		18.74		18.77		18.70		17.52		17.92		82
	Average Shares Outstanding - Basic		312,298		311,842		311,154		310,622		309,740		0.8	%
	Average Shares Outstanding - Diluted		315,280		315,336		314,691		313,900		313,268		0.6
bp - change is measured as difference in basis points.
nm - not meaningful

SYNOVUS						6 of 11
Financial Services Segment
	INCOME STATEMENT		Twelve Months Ended
	(In thousands)		December 31,
			2005		2004	Change
	Interest Income (Taxable Equivalent)	$	1,502,675		1,165,962	28.9	%
	Interest Expense		531,047		299,489	77.3
	Net Interest Income (Taxable Equivalent)		971,628		866,473	12.1
	Tax Equivalent Adjustment		6,412		6,941	(7.6)
	Net Interest Income		965,216		859,532	12.3
	Provision for Loan Losses		82,532		75,319	9.6
	Net Interest Income After Provision		882,684		784,213	12.6
	Non-Interest Income:
	Service Charges on Deposits		112,788		121,450	(7.1)
	Fiduciary and Asset Management Fees		45,453		43,757	3.9
	Brokerage and Investment Banking Revenue		24,487		21,748	12.6
	Mortgage Banking Income		28,682		26,300	9.1
	Credit Card Fees		37,638		30,174	24.7
	Securities Gains (Losses)		463		75	nm
	Other Fee Income		32,914		29,227	12.6
	Other Non-Interest Income		44,987		54,710	(17.8)
	Total Non-Interest Income		327,412		327,441	-
	Non-Interest Expense:
	Personnel Expense		370,223		364,514	1.6
	Occupancy & Equipment Expense		90,549		82,156	10.2
	Other Non-Interest Expense		185,985		175,005	6.3
	Total Non-Interest Expense		646,757		621,675	4.0
	Income Before Taxes		563,339		489,979	15.0
	Income Tax Expense		204,289		175,038	16.7
	Net Income	$	359,050		314,941	14.0
	Return on Assets		1.43	%	1.41	2	bp
	Return on Equity		17.59		17.15	44
bp - change is measured as difference in basis points.
nm - not meaningful

SYNOVUS													7 of 11
Financial Services Segment
	INCOME STATEMENT
	(In thousands)		2005								2004		4th Quarter
			Fourth		Third		Second		First		Fourth		'05 vs. '04
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	420,892		388,067		360,789		332,927		314,009		34.0	%
	Interest Expense		160,509		142,582		122,768		105,188		88,933		80.5
	Net Interest Income (Taxable Equivalent)		260,383		245,485		238,021		227,739		225,076		15.7
	Tax Equivalent Adjustment		1,558		1,655		1,585		1,614		1,692		(7.9)
	Net Interest Income		258,825		243,830		236,436		226,125		223,384		15.9
	Provision for Loan Losses		20,787		19,639		22,823		19,283		20,855		(0.3)
	Net Interest Income After Provision		238,038		224,191		213,613		206,842		202,529		17.5
	Non-Interest Income:
	Service Charges on Deposits		28,738		28,748		28,175		27,127		30,321		(5.2)
	Fiduciary and Asset Management Fees		11,728		11,357		11,324		11,044		11,538		1.6
	Brokerage and Investment Banking Revenue		6,616		5,801		5,807		6,263		5,361		23.4
	Mortgage Banking Income		7,078		8,276		7,430		5,898		6,773		4.5
	Credit Card Fees		10,692		9,563		9,291		8,092		8,775		21.8
	Securities Gains (Losses)		(135)		-		327		271		164		nm
	Other Fee Income		9,377		8,216		7,834		7,487		7,654		22.5
	Other Non-Interest Income		10,884		15,259		10,457		8,389		10,335		5.3
	Total Non-Interest Income		84,978		87,220		80,645		74,571		80,921		5.0
	Non-Interest Expense:
	Personnel Expense		95,670		93,084		90,721		90,747		82,601		15.8
	Occupancy & Equipment Expense		24,577		22,713		21,712		21,547		21,305		15.4
	Other Non-Interest Expense		49,768		45,356		45,320		45,541		50,677		(1.8)
	Total Non-Interest Expense		170,015		161,153		157,753		157,835		154,583		10.0
	Income Before Taxes		153,001		150,258		136,505		123,578		128,867		18.7
	Income Tax Expense		55,949		55,079		49,060		44,203		44,992		24.4
	Net Income	$	97,052		95,179		87,445		79,375		83,875		15.7
	Return on Assets		1.47	%	1.49	%	1.41	%	1.33	%	1.41	%	6	bp
	Return on Equity		18.30		18.34		17.41		16.19		17.09		121
bp - change is measured as difference in basis points.
nm - not meaningful

                8 of 11

SYNOVUS
BALANCE SHEET		December 31, 2005	September 30, 2005	December 31, 2004
(In thousands, except share data)
ASSETS
Cash and due from banks	$	881,019	879,838	683,035
Interest earning deposits with banks		2,980	2,510	4,153
Federal funds sold and securities purchased
under resale agreements		68,922	150,853	135,471
Trading account assets		27,322	26,069	-
Mortgage loans held for sale		143,144	169,659	120,186
Investment securities available for sale		2,958,320	2,821,018	2,695,593
Loans, net of unearned income		21,392,347	20,904,677	19,480,396
Allowance for loan losses		(289,612)	(283,557)	(265,745)
Loans, net		21,102,735	20,621,120	19,214,651
Premises and equipment, net		669,395	635,773	638,407
Contract acquisition costs and computer software, net		431,849	470,733	401,074
Goodwill, net		487,402	454,315	416,283
Other intangible assets, net		44,867	47,033	41,628
Other assets		808,768	796,169	699,697
Total assets	$	27,626,723	27,075,090	25,050,178
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing retail and commercial deposits	$	3,700,750	3,573,766	3,337,908
Interest bearing retail and commercial deposits		14,798,845	14,188,694	12,948,523
Total retail and commercial deposits		18,499,595	17,762,460	16,286,431
Brokered deposits		2,284,770	2,516,750	2,291,037
Total deposits		20,784,365	20,279,210	18,577,468
Federal funds purchased and securities sold
under repurchase agreements		1,158,669	880,605	1,208,080
Long-term debt		1,933,638	2,256,388	1,879,583
Other liabilities		599,892	594,365	576,474
Total liabilities		24,476,805	24,010,568	22,241,605
Minority interest in consolidated subsidiaries		196,673	189,616	167,284
Shareholders' equity:
Common stock, par value $1.00 a share (1)		318,301	317,945	315,636
Surplus		686,447	677,178	628,396
Treasury stock (2)		(113,944)	(113,944)	(113,944)
Unearned compensation		(3,126)	(2,593)	(106)
Accumulated other comprehensive income (loss)		(25,920)	(14,663)	8,903
Retained earnings		2,091,187	2,010,983	1,802,404
Total shareholders' equity		2,952,945	2,874,906	2,641,289
Total liabilities and shareholders' equity	$	27,626,723	27,075,090	25,050,178
(1) Common shares outstanding: 312,639,737; 312,283,129; and 309,974,509 at December 31, 2005, September 30, 2005, and December 31, 2004, respectively.
(2) Treasury shares: 5,661,538 at December 31, 2005, September 30, 2005, and December 31, 2004.

SYNOVUS										9 of 11
AVERAGE BALANCES AND YIELDS/RATES
(Dollars in thousands)
		2005					2004		Twelve Months Ended
		Fourth		Third	Second	First	Fourth		December 31,
		Quarter		Quarter	Quarter	Quarter	Quarter		2005			2004
Interest Earning Assets
Taxable Investment Securities	$	2,713,238		2,611,048	2,556,964	2,553,423	2,408,960	$	2,609,113			2,366,631
Yield		3.87	%	3.75	3.78	3.74	3.69		3.78		%	3.74
Tax-Exempt Investment Securities	$	208,265		215,096	220,109	223,812	229,190	$	216,773			230,815
Yield		6.90	%	7.08	6.87	6.93	6.99		6.94		%	7.05
Trading Account Assets	$	26,006		19,143	-	-	-	$	11,380			-
Yield		6.97	%	3.84	-	-	-		5.64		%	-
Commercial Loans	$	17,881,828		17,342,794	17,090,893	16,618,766	16,044,726	$	17,237,330			15,005,166
Yield		7.25	%	6.83	6.47	6.15	5.84		6.69		%	5.74
Consumer Loans	$	845,251		840,746	833,071	846,743	948,273	$	841,447			969,377
Yield		7.87	%	7.83	7.37	7.42	7.32		7.63		%	7.85
Mortgage Loans	$	1,036,041		1,015,396	1,022,169	1,026,532	954,078	$	1,025,034			892,945
Yield		6.44	%	6.31	6.47	6.09	6.04		6.33		%	5.96
Credit Card Loans	$	257,691		253,985	249,491	246,523	244,839	$	251,959			241,338
Yield		10.19	%	10.07	10.03	10.41	9.40		10.17		%	9.17
Home Equity Loans	$	1,167,361		1,149,255	1,100,010	1,037,214	973,604	$	1,113,914			844,140
Yield		6.85	%	6.32	5.92	5.56	5.08		6.19		%	4.69
Allowance for Loan Losses	$	(286,846)		(281,505)	(278,734)	(270,853)	(262,711)	$	(279,534)			(247,054)
Loans, Net	$	20,901,326		20,320,671	20,016,900	19,504,925	18,902,809	$	20,190,150			17,705,912
Yield		7.35	%	6.94	6.61	6.31	6.01		6.82		%	5.94
Mortgage Loans Held for Sale	$	121,665		137,116	108,929	87,538	103,594	$	113,969			117,479
Yield		6.48	%	6.54	6.41	6.15	5.75		6.41		%	5.60
Federal Funds Sold and Time Deposits with Banks
	$	119,606		135,735	133,399	119,853	106,996	$	127,171			152,882
Yield		4.26	%	3.55	3.10	2.45	2.06		3.35		%	1.29
Total Interest Earning Assets	$	24,090,106		23,438,809	23,036,301	22,489,551	21,751,549		23,268,556			20,573,719
Yield		6.94	%	6.58	6.28	5.99	5.75		6.46		%	5.67
Interest Bearing Liabilities
Interest Bearing Demand Deposits	$	2,989,754		2,939,524	2,990,725	2,980,346	2,848,978	$	2,975,016			2,762,104
Rate		1.39	%	1.25	1.12	0.96	0.72		1.18		%	0.61
Money Market Accounts	$	5,619,551		5,421,961	4,968,113	4,754,130	4,765,591	$	5,193,943			4,481,042
Rate		3.13	%	2.75	2.31	1.90	1.51		2.56		%	1.21
Savings Deposits	$	534,533		561,550	568,279	556,629	547,026	$	555,205			548,736
Rate		0.40	%	0.38	0.35	0.27	0.21		0.35		%	0.18
Time Deposits Under $100,000	$	2,408,591		2,318,085	2,249,590	2,197,788	2,194,194	$	2,294,158			2,223,854
Rate		3.28	%	2.99	2.71	2.47	2.29		2.88		%	2.24
Time Deposits Over $100,000 (less brokered time deposits)
	$	2,864,382		2,700,297	2,534,846	2,392,957	2,329,295	$	2,624,623			2,258,081
Rate		3.67	%	3.35	3.04	2.77	2.54		3.23		%	2.39
Total Interest Bearing Core Deposits		14,416,811		13,941,417	13,311,553	12,881,850	12,685,084	$	13,642,945			12,273,817
Rate		2.80	%	2.50	2.16	1.87	1.60		2.35			1.43
Brokered Time Deposits	$	2,443,105		2,611,091	2,689,079	2,487,264	2,066,938	$	2,557,660			1,730,937
Rate		3.89	%	3.52	3.21	2.94	2.60		3.39		%	2.34
Total Interest Bearing Deposits	$	16,859,916		16,552,508	16,000,632	15,369,114	14,752,022	$	16,200,605			14,004,754
Rate		2.96	%	2.66	2.34	2.05	1.74		2.51		%	1.54
Federal Funds Purchased and Other
Short-Term Borrowings	$	939,008		687,055	1,255,755	1,541,396	1,488,555	$	1,103,005			1,479,815
Rate		3.72	%	3.03	2.75	2.34	1.83		2.86		%	1.30
Long-Term Debt	$	2,184,538		2,302,328	1,981,235	1,877,158	1,821,889	$	2,087,749			1,718,556
Rate		4.44	%	4.34	4.01	3.84	3.63		4.18		%	3.59
Total Interest Bearing Liabilities	$	19,983,462		19,541,891	19,237,622	18,787,668	18,062,466	$	19,391,359			17,203,125
Rate		3.16	%	2.87	2.54	2.25	1.94		2.71		%	1.73
Non-Interest Bearing Demand Deposits	$	3,509,219		3,423,622	3,429,813	3,267,679	3,516,878	$	3,408,289			3,048,465
Shareholders' Equity	$	2,906,223		2,832,059	2,755,510	2,701,585	2,635,188	$	2,799,496			2,479,404
Total Assets	$	27,164,366		26,505,937	26,102,816	25,392,540	24,921,847	$	26,291,490			23,275,001
Net Interest Margin, before fees		4.16	%	4.04	4.01	3.98	3.98		4.05		%	3.92
Net Interest Margin, after fees		4.32	%	4.18	4.15	4.11	4.13		4.19		%	4.22

SYNOVUS							10 of 11
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
(Dollars in thousands)
		December 31, 2005
			Loans as a % of Total Loans Outstanding			Total Nonperforming Loans	Nonperforming Loans as a % of Total Nonperforming Loans
Loan Type		Total Loans
Commercial Real Estate
Multi-Family	$	527,710	2.5	%	$	207	0.3	%
Hotels		680,301	3.2			-	-
Office Buildings		747,493	3.5			4,995	6.1
Shopping Centers		656,949	3.1			-	-
Commercial Development		867,217	4.1			548	0.7
Other Investment Property		372,911	1.6			655	0.8
Total Investment Properties		3,852,581	18.0			6,405	7.9
1-4 Family Construction		1,552,338	7.3			2,013	2.4
1-4 Family Perm / Mini-Perm		1,095,155	5.1			2,705	3.3
Residential Development		1,496,436	7.0			7,673	9.3
Total 1-4 Family Properties		4,143,929	19.4			12,391	15.0
Land Acquisition		1,049,041	4.9			446	0.5
Total Investment-Related Real Estate		9,045,551	42.3			19,242	23.4
Owner-Occupied		2,699,431	12.6			11,252	13.7
Other Property		1,115,094	5.1			5,413	6.6
Total Commercial Real Estate		12,860,076	60.0			35,907	43.7
Commercial & Industrial		5,231,150	24.5			38,297	46.6
Consumer		3,349,208	15.7			7,971	9.7
Unearned Income		(48,087)	(0.2)			-	-
Total	$	21,392,347	100.0	%	$	82,175	100.0	%

LOANS OUTSTANDING BY TYPE COMPARISON
(Dollars in thousands)
		Total Loans		4Q05 vs. 3Q05				4Q05 vs. 4Q04
Loan Type		December 31, 2005	September 30, 2005	% change(1)			December 31, 2004	% change
Commercial Real Estate
Multi-Family	$	527,710	527,826	(0.1)	%	$	536,765	(1.7)	%
Hotels		680,301	779,736	(50.6)			820,391	(17.1)
Office Buildings		747,493	797,886	(25.1)			770,260	(3.0)
Shopping Centers		656,949	641,620	9.5			592,919	10.8
Commercial Development		867,217	821,660	22.0			678,451	27.8
Other Investment Property		372,911	328,120	54.2			275,031	35.6
Total Investment Properties		3,852,581	3,896,848	(4.5)			3,673,817	4.9
1-4 Family Construction		1,552,338	1,414,675	38.6			1,208,618	28.4
1-4 Family Perm / Mini-Perm		1,095,155	1,075,143	7.4			984,690	11.2
Residential Development		1,496,436	1,345,662	44.5			1,091,832	37.1
Total 1-4 Family Properties		4,143,929	3,835,480	31.9			3,285,140	26.1
Land Acquisition		1,049,041	978,813	28.5			931,269	12.6
Total Investment-Related Real Estate		9,045,551	8,711,141	15.2			7,890,226	14.6
Owner-Occupied		2,699,431	2,443,318	41.6			2,264,920	19.2
Other Property		1,115,094	1,302,379	(57.1)			1,134,436	(1.7)
Total Commercial Real Estate		12,860,076	12,456,838	12.8			11,289,582	13.9
Commercial & Industrial		5,231,150	5,185,634	3.5			5,064,828	3.3
Consumer		3,349,208	3,306,529	5.1			3,167,937	5.7
Unearned Income		(48,087)	(44,324)	33.7			(41,951)	14.6
Total	$	21,392,347	20,904,677	9.3	%	$	19,480,396	9.8	%

(1) Percentage change is annualized.

SYNOVUS								11 of 11
CREDIT QUALITY DATA
(Dollars in thousands)		2005					2004	4th Quarter
		Fourth		Third	Second	First	Fourth	'05 vs. '04
		Quarter		Quarter	Quarter	Quarter	Quarter	Change
Nonperforming Loans	$	82,175		85,571	79,511	77,308	80,456	2.1	%
Other Real Estate		16,500		16,951	24,325	26,658	21,492	(23.2)
Nonperforming Assets		98,675		102,522	103,836	103,966	101,948	(3.2)
Allowance for Loan Losses		289,612		283,557	277,527	273,724	265,745	9.0
Net Charge-Offs - Quarter		14,732		13,608	19,020	11,305	12,757	15.5
Net Charge-Offs - YTD		58,665		43,933	30,325	11,305	41,249	42.2
Net Charge-Offs / Average Loans - Quarter		0.28	%	0.26	0.37	0.23	0.27
Net Charge-Offs / Average Loans - YTD		0.29		0.29	0.30	0.23	0.23
Nonperforming Loans / Loans & ORE		0.38		0.41	0.39	0.39	0.41
Nonperforming Assets / Loans & ORE		0.46		0.49	0.51	0.52	0.52
Allowance / Loans		1.35		1.36	1.36	1.36	1.36
Allowance / Nonperforming Loans		352.43		331.37	349.04	354.07	330.30
Allowance / Nonperforming Assets		293.50		276.58	267.27	263.28	260.67
Past Due Loans over 90 days		16,023		16,013	17,163	14,376	18,138
As a Percentage of Loans Outstanding		0.07		0.08	0.08	0.07	0.09
Total Past Dues		93,807		103,005	120,224	122,229	84,458
As a Percentage of Loans Outstanding		0.44		0.49	0.59	0.61	0.43

REGULATORY CAPITAL RATIOS (1)
(Dollars in thousands)
		December 31, 2005	September 30, 2005	December 31, 2004
Tier 1 Capital	$	2,655,818	2,598,707	2,369,332
Total Risk-Based Capital		3,695,430	3,632,264	2,935,077
Tier 1 Capital Ratio		10.20	10.18	10.04
Total Risk-Based Capital Ratio		14.19	14.23	12.44
Leverage Ratio		9.97	9.99	9.78
(1) December 31, 2005 information is preliminary.