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

July 23, 2009
Date of Report
(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

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

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901
(Address of principal executive offices) (Zip Code)

(706) 649-2311
(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:

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

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

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

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

Item 2.02 Results of Operations and Financial Condition

On July 23, 2009, Synovus Financial Corp. (the “Company”) issued a press release announcing the Company’s financial results for the three and six months ended June 30, 2009.

Pursuant to General Instruction F to Current Report on Form 8-K, the press release is attached to this Current Report as Exhibit 99.1 and only those portions of the press release related to the historical results of operations of the Company for the three and six months ended June 30, 2009 are incorporated into this Item 2.02 by reference. The information contained in this Item 2.02, including the information set forth in the press release filed as Exhibit 99.1 to, and incorporated in, this Current Report is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

Item 7.01 Regulation FD Disclosure

On July 23, 2009, the Company made available the supplemental information (the “Supplemental Information”) and slide presentation (“Slide Presentation”) prepared for use with the press release. The investor call and webcast will be held at 4:30 p.m., ET, on July 23, 2009.

Pursuant to General Instruction F to Current Report on Form 8-K, the Supplemental Information and the Slide Presentation are attached to this Current Report as Exhibits 99.2 and Exhibit 99.3, respectively, and incorporated into this Item 7.01 by reference. The information contained in this Item 7.01, including the information set forth in the Supplemental Information and Slide Presentation filed as Exhibit 99.2 and Exhibit 99.3 to, and incorporated in, this Current Report, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in Exhibit 99.2 and Exhibit 99.3 furnished pursuant to this Item 7.01 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

2

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Synovus press release dated July 23, 2009
99.2	Supplemental Information prepared for use with the press release
99.3	Slide presentation prepared for use with the press release

3

Signature

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

	SYNOVUS FINANCIAL CORP. (“Synovus”)
Dated: July 23, 2009	By:	/s/ Samuel F. Hatcher
		Executive Vice President,
		General Counsel and Secretary

4

EX-99.1

Exhibit 99.1

     For Immediate Release

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

Synovus Reports Results for Second Quarter 2009

Columbus, Ga., July 23, 2009 — Synovus Financial Corp. (NYSE: SNV) announced today its results of operations for the second quarter of 2009. During the quarter, Synovus took aggressive steps with its asset disposition program and reserve build. The Company’s core operating results for the quarter improved, and the Company believes it has the opportunity to return to profitability during 2010.

Business Highlights

• Net loss for the second quarter of 2009 was $586.9 million, or $1.82 per common share, compared to net income of $12.1 million, or $0.04 per diluted share, for the second quarter of 2008.

• The second quarter results reflect an effective tax rate of 11.9% versus 38.4% in the previous quarter. The lower tax benefit is primarily driven by a non-cash charge of approximately $170 million to record an increase in the valuation allowance for deferred tax assets, in accordance with the requirements of Statement of Financial Accounting Standards No. 109, “Accounting for Income Taxes.” This charge does not preclude Synovus from carrying back current year operating losses to obtain refunds from prior periods or using net deferred tax assets to offset future taxable income.

• Total credit costs for the second quarter were $807.8 million, including provision expense of $631.5 million and foreclosed real estate costs of $172.4 million. These costs were largely driven by a significant increase in the allowance for loan losses as well as the impact of losses on liquidations of non-performing assets.

• Pre-tax, Pre-credit Costs Income was $144.8 million, up $15.6 million over the first quarter of 2009.

• Net Interest Margin was 3.23%, up 18 basis points from 3.05% in the first quarter of 2009.

• Non-performing Assets were down $15.0 million from the first quarter of 2009, as dispositions of non-performing assets reached $404 million in the second quarter.

• Allowance for Loan Losses increased $276.3 million in the quarter to 3.33% of total loans.

• Total Past Due Loans and Still Accruing were down $255.3 million in the quarter to 1.20% of loans outstanding, compared to 2.12% in the first quarter of 2009.

• Mortgage revenues increased $5.3 million from the first quarter of 2009 million to $14.6 million in the second quarter of 2009.

• Capital Ratios — Tangible Common Equity to Tangible Assets Ratio was 6.05%, Tier 1 Capital Ratio was 9.52%, and Total Risk-Based Capital Ratio was 12.76%.

• Salaries and other personnel expenses were $109.3 million for the quarter, down $2.7 million from the first quarter of 2009. Total employees were 6,465 compared to 6,720 at the end of the first quarter of 2009. Expenses for the quarter reflect the $16.6 million FDIC special assessment.

Post Office Box 120 / Columbus, GA 31902
www.synovus.com

“Our aggressive approach of charging down and disposing of non-performing assets led to a reduction of these problem assets in the quarter,” said Richard Anthony, Chairman and CEO. “Additionally, we experienced an increase in pre-tax, pre-credit costs income for the first time in the last four quarters which we believe demonstrates our core earnings potential in a more favorable credit environment. With our current capital position, we believe that we will be able to come out of this credit crisis as a strong bank holding company. We are committed to doing everything we can to return to profitability, repay the U.S. Treasury, and restore our dividend as soon as possible.”

Synovus will host an earnings highlights conference call at 4:30 pm EDT, on July 23, 2009. The earnings call will be accompanied by a slide presentation. Shareholders and other interested persons may access the slide presentation and listen to this conference call via simultaneous Internet broadcast at www.synovus.com by clicking on the “Live Webcast” icon. You may download RealPlayer or Windows Media Player (free download available) prior to accessing the actual call or the replay. The replay will be archived for 12 months and will be available 30-45 minutes after the call.

Synovus is a financial services holding company with approximately $35 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 30 banks, 332 offices, and 466 ATMs in Georgia, Alabama, South Carolina, Florida and Tennessee. The company focuses on its unique decentralized customer delivery model, position in high-growth Southeast markets and commitment to being a great place to work to ensure unparalleled customer experiences. See Synovus on the Web at www.synovus.com.

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain 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, our statements regarding (1) improvements in our core operating results; (2) our expectations regarding the opportunity to return to profitability during 2010; (3) our belief in our demonstrated core earnings potential in a more favorable credit environment; (4) our liquidity position and capital strength in terms of positioning us for the future; and (5) the assumptions underlying our expectations. 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 and our filings with the Securities and Exchange Commission. Many of these factors are beyond Synovus’ ability to control or predict. Factors that could cause actual results to differ materially from those contemplated in this press release and our filings with the Securities and Exchange Commission include: (1) further deteriorations in credit quality, particularly in residential construction and development loans, may continue to result in increased non-performing assets and credit losses, which will adversely impact our earnings and capital; (2) declining values of residential real estate may result in further write-downs of assets, which may increase our credit losses and negatively affect our financial results; (3) continuing weakness in the residential real estate environment may negatively impact our ability to liquidate non-performing assets; (4) the impact on our borrowing costs, capital cost and our liquidity due to adverse changes in our current credit ratings; (5) our ability to manage fluctuations in the value of our assets and liabilities to maintain sufficient capital and liquidity to support our operations; (6) restrictions or limitations on access to funds from subsidiaries, thereby restricting our ability to make payments on our obligations or dividend payments; (7) continuing deteriorations in general economic conditions and conditions in the financial markets; (8) inadequacy of our allowance for loan losses, or the

Post Office Box 120 / Columbus, GA 31902
www.synovus.com

risk that the allowance may prove to be inadequate or may be negatively affected by credit risk exposures; (9) changes in the interest rate environment which may increase funding costs and reduce earning assets yields, thus reducing margins; (10) risks associated with the concentration of our non-performing assets in certain geographic regions and with affiliated borrowing groups; (11) the risk of additional future losses if the proceeds we receive upon the liquidation of non-performing assets are less than the fair value of such assets; (12) changes in accounting standards; (13) slower than anticipated rates of growth in non-interest income; (14) impact of the Emergency Economic Stabilization Act and other recent and proposed changes in the regulation of banks and financial institutions; (15) risks associated with litigation; (16) the volatility of our stock price; and (17) the other factors set forth 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.

Use of Non-GAAP Financial Measures

This press release contains the following non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles: pre-tax, pre-credit costs income and the tangible common equity to tangible assets ratio. The most comparable GAAP measures are pre-tax income (loss) and the ratio of total equity to total assets, respectively. Management uses these non-GAAP financial measures to assess the performance of Synovus’ core business and the strength of its capital position. Synovus believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist investors in evaluating Synovus’ operating results, financial strength and capitalization. These non-GAAP financial measures should not be considered as a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures of other companies. The computations of pre-tax, pre-credit costs income and the tangible common equity to tangible assets ratio, and reconciliation of these measures to income (loss) before income taxes and the ratio of total equity to total assets are set forth in the tables below:

Reconciliation of Non-GAAP Financial Measures

(in thousands)	2Q09			1Q09			4Q08			3Q08			2Q08
Pre-tax loss	$	(663,396	)		(221,806	)		(740,480	)		(59,682	)		21,539
Add: Provision expense		631,526			290,437			363,867			151,351			93,616
Add: Other credit costs		176,308			54,277			78,691			45,266			29,686
Add: Goodwill impairment		¾			¾			442,730			9,887			27,000
Add: Restructuring charges		397			6,358			2,826			9,048			4,251
Add (Subtract): Visa litigation settlement expense (recovery)		¾			¾			(6,390	)		6,347			¾
Pre-tax, pre-credit costs income	$	144,835			129,266			141,244			162,217			176,092
Total assets	$	34,349,670			34,547,432									34,227,301
Less: Goodwill		(39,280	)		(39,521	)								(492,138	)
Less: Other intangible assets		(18,914	)		(20,064	)								(24,860	)
Tangible assets	$	34,291,476			34,487,847									33,710,303
Total equity	$	3,055,163			3,671,398									3,452,683
Less: Goodwill		(39,280	)		(39,521	)								(492,138	)
Less: Other intangible assets		(18,914	)		(20,064	)								(24,860	)
Less: Cumulative perpetual preferred stock		(923,855	)		(921,728	)								¾
Tangible common equity		2,073,114			2,690,085									2,935,685
Tangible common equity to tangible assets		6.05	%		7.80	%								8.71	%

###

Post Office Box 120 / Columbus, GA 31902
www.synovus.com

EX-99.2

Synovus 4 of 9

INCOME STATEMENT DATA
(Unaudited)
(Dollars in thousands, except per share data)

	Six Months Ended
	June 30,
	2009			2008			Change
Interest income (taxable equivalent)	$	773,284			964,330			(19.8	)%
Interest expense		271,037			409,950			(33.9	)
Net interest income (taxable equivalent)		502,247			554,380			(9.4	)
Tax equivalent adjustment		2,399			2,310			3.9
Net interest income		499,848			552,070			(9.5	)
Provision for losses on loans		921,963			184,665			399.3
Net interest income (loss) after provision for loan losses		(422,115	)		367,405			(214.9	)
Non-interest income:
Service charges on deposit accounts		58,401			54,461			7.2
Fiduciary and asset management fees		21,471			25,519			(15.9	)
Brokerage and investment banking income		14,393			17,693			(18.7	)
Mortgage banking income		23,912			13,847			72.7
Bankcard fees		26,436			26,417			0.1
Other fee income		16,412			21,266			(22.8	)
Increase in fair value of private equity investments, net		8,090			4,946			63.6
Proceeds from sale of MasterCard shares		8,351			16,186			(48.4	)
Proceeds from redemption of Visa shares		—			38,542		nm
Other non-interest income		19,122			28,798			(33.6	)
Total non-interest income		196,588			247,675			(20.6	)
Non-interest expense:
Salaries and other personnel expense		221,294			231,806			(4.5	)
Net occupancy and equipment expense		62,374			61,337			1.7
FDIC insurance and other regulatory fees		43,060			12,250			251.5
Foreclosed real estate		218,734			21,558		nm
Losses on other loans held for sale		1,095			9,944			(89.0	)
Visa litigation (recovery) expense		—			(17,430	)	nm
Goodwill impairment		—			27,000			(100.0	)
Professional fees		17,312			13,394			29.3
Restructuring charges		6,755			4,251			58.9
Other operating expenses		89,050			103,228			(13.7	)
Total non-interest expense		659,674			467,338			41.2
Income (loss) before income taxes		(885,201	)		147,742		nm
Income tax (benefit) expense		(164,220	)		52,952		nm
Net income (loss)		(720,981	)		94,790		nm
Net income (loss) attributable to non-controlling interest		2,620			1,697			54.4
Net income (loss) attributable to controlling interest		(723,601	)		93,093		nm
Dividends and accretion of discount on preferred stock		28,417			—		nm
Net income (loss) available to common shareholders	$	(752,018	)		93,093		nm
Basic EPS	$	(2.28	)		0.28		nm
Diluted EPS		(2.28	)		0.28		nm
Cash dividends declared per share		0.02			0.34			(94.1	)
Return on average assets *		(4.17	)%		0.56		(473		)bp
Return on average common equity *		(55.92	)		5.41		nm
Average shares outstanding — basic		329,818			329,071			0.2	%
Average shares outstanding — diluted		329,818			331,568			(0.5	)

nm-	not meaningful
*   -	ratios are annualized

5 of 9

Synovus

INCOME STATEMENT DATA
(Unaudited)
(Dollars in thousands, except per share data)

	2009						2008								2nd Quarter
	Second			First			Fourth			Third			Second		’09 vs. ’08
	Quarter			Quarter			Quarter			Quarter			Quarter		Change
Interest income (taxable equivalent)	$	385,710			387,574			441,749			456,400			459,274		(16.0	)%
Interest expense		127,883			143,154			182,312			187,425			184,719		(30.8	)
Net interest income (taxable equivalent)		257,827			244,420			259,437			268,975			274,555		(6.1	)
Tax equivalent adjustment		1,219			1,181			1,412			1,177			1,134		7.5
Net interest income		256,608			243,239			258,025			267,798			273,421		(6.1	)
Provision for losses on loans		631,526			290,437			363,867			151,351			93,616		nm
Net interest income (loss) after provision for loan losses		(374,918	)		(47,198	)		(105,842	)		116,447			179,805		(308.5	)
Non-interest income:
Service charges on deposit accounts		29,702			28,699			29,244			28,132			26,070		13.9
Fiduciary and asset management fees		10,657			10,815			11,168			12,095			12,898		(17.4	)
Brokerage and investment banking income		7,521			6,871			7,528			7,898			9,206		(18.3	)
Mortgage banking income		14,590			9,322			5,170			4,476			5,686		156.6
Bankcard fees		13,755			12,681			13,365			13,371			14,198		(3.1	)
Net gains on sales of investment securities available for sale		—			—			45			—			—		nm
Other fee income		8,722			7,690			7,207			8,773			10,081		(13.5	)
Increase in fair value of private equity investments, net		8,090			—			6,996			13,052			—		nm
Proceeds from sale of MasterCard shares		8,351			—			—			—			16,186		(48.4	)
Other non-interest income		6,450			12,670			7,838			11,158			13,373		(51.8	)
Total non-interest income		107,838			88,748			88,561			98,955			107,698		0.1
Non-interest expense:
Salaries and other personnel expense		109,315			111,979			112,586			114,535			109,676		(0.3	)
Net occupancy and equipment expense		30,727			31,647			31,255			31,852			31,126		(1.3	)
FDIC insurance and other regulatory fees		30,061			12,999			6,950			5,960			6,172		387.1
Foreclosed real estate		172,404			46,330			71,915			43,205			13,677		nm
Losses (gains) on other loans held for sale		1,160			(65	)		(35	)		—			9,944		(88.3	)
Visa litigation (recovery) expense		—			—			(6,390	)		6,347			—		nm
Goodwill impairment		—			—			442,730			9,887			27,000		nm
Professional fees		10,355			6,957			9,973			6,909			8,454		22.5
Restructuring charges		397			6,358			2,826			9,048			4,251		(90.7	)
Other operating expenses		41,897			47,151			51,389			47,341			55,664		(24.7	)
Total non-interest expense		396,316			263,356			723,199			275,084			265,964		49.0
Income (loss) before income taxes		(663,396	)		(221,806	)		(740,480	)		(59,682	)		21,539		nm
Income tax (benefit) expense		(79,143	)		(85,077	)		(106,435	)		(24,211	)		9,302		nm
Net income (loss)		(584,253	)		(136,729	)		(634,045	)		(35,471	)		12,237		nm
Net income (loss) attributable to non-controlling interest		2,677			(57	)		1,365			4,650			138		nm
Net income (loss) attributable to controlling interest		(586,930	)		(136,672	)		(635,410	)		(40,121	)		12,099		nm
Dividends and accretion of discount on preferred stock		14,225			14,192			2,057			—			—		nm
Net income (loss) available to common shareholders	$	(601,155	)		(150,864	)		(637,467	)		(40,121	)		12,099		nm
Basic EPS	$	(1.82	)		(0.46	)		(1.93	)		(0.12	)		0.04		nm
Diluted EPS		(1.82	)		(0.46	)		(1.93	)		(0.12	)		0.04		nm
Cash dividends declared per common share		0.01			0.01			0.06			0.06			0.17		(94.1	)
Return on average assets *		(6.76	)%		(1.58	)		(7.17	)		(0.47	)		0.14		nm
Return on average common equity *		(91.66	)		(21.90	)		(76.55	)		(4.74	)		1.40		nm
Average common shares outstanding — basic		329,850			329,785			329,691			329,438			329,173		0.2	%
Average common shares outstanding — diluted		329,850			329,785			329,691			329,438			331,418		(0.5	)

nm -	not meaningful
*    -	ratios are annualized

Synovus 6 of 9

BALANCE SHEET DATA
(Unaudited)
(In thousands, except share data)

	June 30, 2009			December 31, 2008			June 30, 2008
ASSETS
Cash and due from banks	$	442,702			524,327			674,834
Interest bearing funds with
Federal Reserve Bank		770,220			1,206,168			—
Interest earning deposits with banks		7,269			10,805			17,337
Federal funds sold and securities purchased under resale agreements		170,824			388,197			152,177
Trading account assets		20,687			24,513			20,204
Mortgage loans held for sale, at fair value		312,620			133,637			185,245
Other loans held for sale		34,938			3,527			6,365
Investment securities available for sale		3,560,192			3,770,022			3,692,136
Loans, net of unearned income		27,585,741			27,920,177			27,445,891
Allowance for loan losses		(918,723	)		(598,301	)		(417,813	)
Loans, net		26,667,018			27,321,876			27,028,078
Premises and equipment, net		596,172			605,019			581,352
Goodwill		39,280			39,521			492,138
Other intangible assets, net		18,914			21,266			24,860
Other assets		1,708,834			1,737,391			1,352,575
Total assets	$	34,349,670			35,786,269			34,227,301
LIABILITIES AND EQUITY
Liabilities:
Deposits:
Non-interest bearing deposits	$	3,861,782			3,563,619			3,553,342
Interest bearing deposits		23,562,032			25,053,560			22,475,010
Total deposits		27,423,814			28,617,179			26,028,352
Federal funds purchased and other short-term borrowings		1,580,259			725,869			2,287,910
Long-term debt		1,865,491			2,107,173			2,121,625
Other liabilities		424,943			516,541			336,731
Total liabilities		31,294,507			31,966,762			30,774,618
Equity:
Shareholders’ equity:
Cumulative perpetual preferred stock, no par value (1)		923,855			919,635			—
Common stock, par value $1.00 (2)		336,059			336,011			335,826
Additional paid-in capital		1,170,639			1,165,875			1,110,635
Treasury stock, at cost (3)		(114,146	)		(114,117	)		(114,075	)
Accumulated other comprehensive income		105,520			129,253			30,190
Retained earnings		596,434			1,350,501			2,066,015
Total shareholders’ equity		3,018,361			3,787,158			3,428,591
Non-controlling interest in subsidiaries		36,802			32,349			24,092
Total equity		3,055,163			3,819,507			3,452,683
Total liabilities and shareholders’ equity	$	34,349,670			35,786,269			34,227,301

(1)	Preferred shares outstanding: 967,870 at June 30, 2009 and December 31, 2008.
(2)	Common shares outstanding: 330,376,784; 330,334,111; and 330,153,646 at June 30, 2009, December 31, 2008, and June 30, 2008, respectively.
(3)	Treasury shares: 5,682,673; 5,676,830; and 5,672,221 at June 30, 2009, December 31, 2008 and June 30, 2008, respectively.

Synovus 7 of 9

AVERAGE BALANCES AND YIELDS/RATES *

(Unaudited)
(Dollars in thousands)

	2009									2008
	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
Interest Earning Assets
Taxable Investment Securities	$	3,353,382			3,455,091			3,549,643			3,548,227			3,437,320
Yield		5.16	%		5.22			4.94			5.06			5.16
Tax-Exempt Investment Securities	$	107,626			116,163			122,332			128,241			137,606
Yield (taxable equivalent)		7.08	%		6.91			6.79			6.74			7.34
Trading Account Assets	$	19,984			22,580			29,727			30,584			26,531
Yield		5.57	%		6.02			5.10			6.77			5.88
Commercial Loans	$	23,572,578			23,525,450			23,870,384			23,302,028			23,183,128
Yield		4.72	%		4.77			5.46			5.78			5.96
Consumer Loans	$	4,335,897			4,353,580			4,347,332			4,267,477			4,115,130
Yield		5.38	%		5.50			5.88			6.19			6.29
Allowance for Loan Losses	$	(663,355	)		(627,110	)		(473,875	)		(422,331	)		(397,392	)
Loans, Net	$	27,245,120			27,251,920			27,743,841			27,147,174			26,900,866
Yield		4.96	%		5.01			5.63			5.95			6.12
Mortgage Loans Held for Sale	$	268,933			247,937			98,362			108,873			157,049
Yield		4.94	%		5.46			5.96			6.91			5.86
Federal Funds Sold, Due from Federal Reserve Bank and Other Short-Term Investments	$	996,754			1,214,897			642,396			211,323			201,081
Yield		0.24	%		0.31			0.60			1.88			1.83
Federal Home Loan Bank and Federal Reserve Bank Stock (1)	$	132,346			117,205			121,994			122,088			119,061
Yield		0.54	%		0.66			0.20			3.61			5.71
Total Interest Earning Assets	$	32,124,145			32,425,793			32,308,295			31,296,510			30,979,514
Yield		4.83	%		4.84			5.44			5.81			5.96
Interest Bearing Liabilities
Interest Bearing Demand Deposits	$	3,582,954			3,602,371			3,201,355			3,076,447			3,154,884
Rate		0.45	%		0.49			0.80			1.07			1.10
Money Market Accounts	$	6,241,764			6,272,015			6,129,751			6,771,080			6,826,724
Rate		1.24	%		1.30			1.80			2.19			2.15
Savings Deposits	$	477,752			452,206			442,623			457,526			461,970
Rate		0.15	%		0.16			0.22			0.25			0.25
Time Deposits Under $100,000	$	3,126,984			3,222,601			3,264,401			3,055,465			2,814,714
Rate		3.13	%		3.41			3.64			3.69			3.97
Time Deposits Over $100,000	$	5,355,736			5,555,084			5,386,772			4,731,468			4,316,454
Rate		3.04	%		3.31			3.63			3.79			4.09
National Market Brokered Money Market Accounts	$	1,885,214			2,073,734			1,982,179			1,271,113			1,082,008
Rate		0.75	%		0.82			1.27			2.27			2.54
National Market Brokered Time Deposits	$	3,203,546			3,718,570			4,549,172			3,968,783			3,495,947
Rate		3.09	%		3.38			3.70			3.61			3.64
Total Interest Bearing Deposits	$	23,873,950			24,896,581			24,956,253			23,331,882			22,152,701
Rate		1.96	%		2.16			2.58			2.77			2.82
Federal Funds Purchased and Other Short-Term Liabilities	$	1,166,785			578,717			876,330			1,459,097			2,302,986
Rate		0.36	%		0.59			0.90			1.94			2.03
Long-Term Debt	$	2,090,710			1,964,064			2,106,785			2,119,321			2,048,213
Rate		1.94	%		2.07			3.44			3.32			3.44
Total Interest Bearing Liabilities	$	27,131,445			27,439,362			27,939,368			26,910,300			26,503,900
Rate		1.89	%		2.11			2.59			2.77			2.80
Non-Interest Bearing Demand Deposits	$	3,812,876			3,611,958			3,508,753			3,463,563			3,448,794
Net Interest Margin		3.23	%		3.05			3.20			3.42			3.57

*	Yields and rates are annualized.
(1)	Included as a component of Other Assets on the balance sheet

Synovus 8 of 9

LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
(Unaudited)
(Dollars in thousands)

	June 30, 2009
				Loans as a %			Total		Nonperforming Loans
				of Total Loans			Nonperforming		as a % of Total
Loan Type	Total Loans			Outstanding			Loans		Nonperforming Loans
Multi-Family	$	838,795			3.0	%	$	23,050		1.5	%
Hotels		1,026,163			3.7			236,087		15.8
Office Buildings		1,110,896			4.0			19,691		1.3
Shopping Centers		1,084,080			3.9			5,820		0.4
Commercial Development		735,834			2.7			44,373		3.0
Warehouses		491,944			1.8			5,729		0.4
Other Investment Property		609,313			2.2			16,647		1.1
Total Investment Properties		5,897,025			21.3			351,397		23.5
1-4 Family Construction		1,224,446			4.4			237,244		15.9
1-4 Family Perm / Mini-Perm		1,429,916			5.2			83,663		5.6
Residential Development		1,739,246			6.3			331,075		22.2
Total 1-4 Family Properties		4,393,608			15.9			651,982		43.7
Land Acquisition		1,619,395			5.9			188,919		12.7
Total Commercial Real Estate		11,910,028			43.1			1,192,298		79.9
Commercial , Financial, and Agricultural		6,545,088			23.7			158,720		10.7
Owner-Occupied		4,829,805			17.5			68,913		4.6
Total Commercial & Industrial		11,374,893			41.2			227,633		15.3
Home Equity		1,729,528			6.3			16,121		1.1
Consumer Mortgages		1,725,223			6.3			47,365		3.2
Credit Card		288,349			1.1			—		—
Other Retail Loans		586,029			2.1			6,850		0.5
Total Retail		4,329,129			15.8			70,336		4.8
Unearned Income		(28,309	)		(0.1	)		—		—
Total	$	27,585,741			100.0	%	$	1,490,267		100.0	%

LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands)

	Total Loans						2Q09 vs. 4Q08						2Q09 vs. 2Q08
Loan Type	June 30, 2009			December 31, 2008			% change (1)			June 30, 2008			% change
Multi-Family	$	838,795			589,708			85.2	%	$	532,345			57.6	%
Hotels		1,026,163			965,886			12.6			755,125			35.9
Office Buildings		1,110,896			1,036,837			14.4			1,003,278			10.7
Shopping Centers		1,084,080			1,090,807			(1.2	)		980,545			10.6
Commercial Development		735,834			763,962			(7.4	)		816,482			(9.9	)
Warehouses		491,944			461,402			13.3			423,465			16.2
Other Investment Property		609,313			614,149			(1.6	)		564,549			7.9
Total Investment Properties		5,897,025			5,522,751			13.7			5,075,789			16.2
1-4 Family Construction		1,224,446			1,611,779			(48.5	)		1,943,120			(37.0	)
1-4 Family Perm / Mini-Perm		1,429,916			1,441,798			(1.7	)		1,387,711			3.0
Residential Development		1,739,246			2,123,669			(36.5	)		2,241,985			(22.4	)
Total 1-4 Family Properties		4,393,608			5,177,246			(30.5	)		5,572,816			(21.2	)
Land Acquisition		1,619,395			1,620,370			(0.1	)		1,650,334			(1.9	)
Total Commercial Real Estate		11,910,028			12,320,367			(6.7	)		12,298,939			(3.2	)
Commercial , Financial, and Agricultural		6,545,088			6,747,928			(6.1	)		6,689,206			(2.2	)
Owner-Occupied		4,829,805			4,499,339			14.8			4,281,469			12.8
Total Commercial & Industrial		11,374,893			11,247,267			2.3			10,970,675			3.7
Home Equity		1,729,528			1,725,075			0.5			1,633,604			5.9
Consumer Mortgages		1,725,223			1,763,449			(4.4	)		1,725,064		nm
Credit Card		288,349			295,055			(4.6	)		299,850			(3.8	)
Other Retail Loans		586,029			606,347			(6.8	)		558,633			4.9
Total Retail		4,329,129			4,389,926			(2.8	)		4,217,151			2.7
Unearned Income		(28,309	)		(37,383	)		(48.9	)		(40,874	)		(30.7	)
Total	$	27,585,741			27,920,177			(2.4	)%	$	27,445,891			0.5	%

(1) Percentage change is annualized.

Synovus   9 of 9

CREDIT QUALITY DATA
(Unaudited)
(Dollars in thousands)

	2009					2008						2nd Quarter
	Second			First		Fourth		Third		Second		’09 vs. ’08
	Quarter			Quarter		Quarter		Quarter		Quarter		Change
Nonperforming Loans	$	1,490,267			1,441,188		921,708		769,950		626,571		137.8	%
Other Loans Held for Sale (1)		34,938			22,751		3,527		13,554		6,365		448.9
Other Real Estate		210,968			287,246		246,121		215,082		197,328		6.9
Nonperforming Assets		1,736,173			1,751,185		1,171,356		998,586		830,264		109.1
Allowance for Loan Losses		918,723			642,422		598,301		463,836		417,813		119.9
Net Charge-Offs — Quarter		355,224			246,314		229,402		105,328		70,652		402.8
Net Charge-Offs — YTD		601,538			246,314		469,195		239,793		134,465		347.4
Net Charge-Offs / Average Loans — Quarter (2)		5.09	%		3.53		3.25		1.53		1.04
Net Charge-Offs / Average Loans — YTD (2)		4.31			3.53		1.71		1.18		0.99
Nonperforming Loans / Loans		5.40			5.20		3.30		2.78		2.28
Nonperforming Assets / Loans, Other Loans Held for Sale & ORE		6.24			6.25		4.16		3.58		3.00
Allowance / Loans		3.33			2.32		2.14		1.68		1.52
Allowance / Nonperforming Loans		61.65			44.58		64.91		60.24		66.68
Past Due Loans over 90 days and Still Accruing		31,018			31,316		38,794		49,868		39,614		(21.7	)%
As a Percentage of Loans Outstanding		0.11			0.11		0.14		0.18		0.14
Total Past Dues Loans and Still Accruing		331,731			587,014		362,538		403,180		365,046		(9.1	)
As a Percentage of Loans Outstanding		1.20			2.12		1.30		1.46		1.33

(1)	Represent other loans that are intended to be sold. Held for sale loans are carried at the lower of cost or fair value.
(2)	Ratio is annualized.

SELECTED CAPITAL INFORMATION (1)
(Unaudited)
(Dollars in thousands)

	June 30, 2009			December 31, 2008		June 30, 2008
Tier 1 Capital	$	2,862,225			3,602,848		2,891,831
Total Risk-Based Capital		3,836,713			4,674,476		3,987,595
Tier 1 Capital Ratio		9.52	%		11.22		8.91
Tier 1 Common Equity		6.41	%		8.33		8.88
Total Risk-Based Capital Ratio		12.76			14.56		12.29
Leverage Ratio		8.25			10.28		8.70
Common Equity as a Percentage of Total Assets (2)		6.21			8.10		10.09
Tangible Common Equity as a Percentage of Tangible Assets (3)		6.05			7.95		8.71
Tangible Common Equity as a Percentage of Risk Weighted Assets (3)		6.90			8.84		9.05
Book Value Per Common Share (4)		6.45			8.78		10.46
Tangible Book Value Per Common Share (3)		6.28			8.60		8.89

(1)	Current quarter regulatory capital information is preliminary.
(2)	Common equity consists of Total Equity less Cummulative Perpetual Perferred Stock.
(3)	Excludes the carrying value of goodwill and other intangible assets from common equity and total assets.
(4)	Book Value Per Common Share consists of Total Equity less Cummulative Perpetual Preferred Stock divided by total common shares outstanding.

EX-99.3

Exhibit 99.3

Second Quarter 2009 Earnings Review July 23, 2009 Thursday, July 23, 2009 1

Factors that could cause actual results to differ materially from those contemplated in this slide presentation and our !lings with the SEC include: (1) further deterioration in credit quality, particularly in residential construction and development loans, may continue to result in increased non-performing assets and credit losses, which will adversely impact our earnings and capital; (2) declining values of residential real estate may result in further write-downs of assets, which may increase our credit losses and negatively affect our !nancial results; (3) continuing weakness in the residential real estate environment may negatively impact our ability to liquidate non-performing assets; (4) the impact on our borrowing costs, capital cost and our liquidity due to adverse changes in our current credit ratings; (5) our ability to manage $uctuations in the value of our assets and liabilities to maintain sufficient capital and liquidity to support our operations; (6) restrictions or limitations on access to funds from subsidiaries, thereby restricting our ability to make payments on our obligations or dividend payments; (7) continuing deterioration in general economic conditions and conditions in the !nancial markets; (8) inadequacy of our allowance for loan losses, or the risk that the allowance may prove to be inadequate or may be negatively affected by credit risk exposures;(9) changes in the interest rate environment which may increase funding costs and reduce earning assets yields, thus reducing margins; (10) risks associated with the concentration of our non-performing assets in certain geographic regions and with affiliated borrowing groups; (11) the risk of additional future losses if the proceeds we receive upon the liquidation of nonperforming assets are less than the fair value of such assets; (12) changes in accounting standards; (13) slower than anticipated rates of growth in non-interest income; (14) impact of the Emergency Economic Stabilization Act and other recent and proposed changes in the regulation of banks and !nancial institutions; (15) risks associated with litigation; (16) the volatility of our stock price; and (17) the other factors set forth in Synovus’ !lings with the SEC, 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. Thursday, July 23, 2009 3

Use of Non-GAAP Financial Measures This slide presentation contains certain non-GAAP !nancial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP !nancial measures include the following: pre-tax, pre-credit costs income; core expenses; [fundamental total non-interest expense]; core deposits; net interest margin excluding negative impact of nonperforming assets; and the tangible common equity to tangible assets ratio are non-GAAP !nancial measures. The most comparable GAAP measures to these measures are pre-tax income (loss); total G&A expenses; total non-interest expense; total deposits; net interest margin; and the ratio of total equity to total assets, respectively. Management uses these non-GAAP !nancial measures to assess the performance of Synovus’ core business and the strength of its capital position. Synovus believes that these non-GAAP !nancial measures provide meaningful additional information about Synovus to assist investors in evaluating Synovus’ operating results, !nancial strength and capitalization. These non-GAAP !nancial measures should not be considered as a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures of other companies. The computations of the non-GAAP !nancial measures used in this slide presentation are set forth in the Appendix to this slide presentation. Thursday, July 23, 2009 4

FINANCIAL RESULTS Thursday, July 23, 2009 7

INCOME STATEMENT 2Q09 1Q09 2Q08 Net Interest Income $256,608 $243,239 $273,421 Fee Income $107,838 $88,748 $107,698 Non Interest Expense $396,316 $263,356 $265,964 Provision Expense $631,526 $290,437 $93,616 Pre-tax Income (loss) ($663,396) ($221,806) $21,539 Income tax (bene!t) expense ($79,143) ($85,077) $9,302 Net Income (loss) ($584,253) ($136,729) $12,237 Net Income (loss) attributable to non-controlling interest $2,677 ($57) $138 Net Income (loss) attributable to controlling interest ($586,930) ($136,672) $12,099 Preferred stock dividends $14,225 $14,192 – Net Income (loss) available to common shareholders ($601,155) ($150,864) $12,099 Diluted Shares 329,850 329,785 329,173 Diluted EPS ($1.82) ($0.46) $0.04 (amounts in thousands, except per share data) Thursday, July 23, 2009 8

SHARED DEPOSITS $0 $0.40 $0.80 $1.20 $1.60 $2.00 2Q08 3Q08 4Q08 1Q09 2Q09 $1.92 $1.83 $1.74 $0.89 $0.30 Shared Deposits* (in billions) * Shared Deposits represent Synovus CD and Money Market products that offer customers the ability to open one account at any Synovus bank and have FDIC insurance coverage on their total deposits of more than $7 million Thursday, July 23, 2009 10

IMPROVING INTEREST MARGIN $0 $56 $112 $168 $224 $280 2Q08 3Q08 4Q08 1Q09 2Q09 $256.6 $243.2 $273.4 $267.8 $258.0 Net Interest Income 3.0% 3.3% 3.5% 3.8% 4.0% 2Q08 3Q08 4Q08 1Q09 2Q09 3.80% 3.66% 3.47% 3.38% 3.62% 3.57% 3.42% 3.20% 3.05% 3.23% Net Interest Margin Trend Actual Excluding negative impact of non-performing assets* (in millions) * Non-GAAP !nancial measure. See Appendix. Thursday, July 23, 2009 11

CONTINUED FOCUS ON EFFICIENCY AND PRODUCTIVITY $0 $38 $75 $113 $150 $188 $225 2Q08 3Q08 4Q08 1Q09 2Q09 $59.5 $53.4 $55.5 $47.4 $50.7 $31.1 $31.9 $31.3 $31.6 $30.7 $109.7 $114.5 $112.6 $112.0 $109.3 Fundamental G&A Expenses* (in millions) Employment Expenses Occupancy and Equipment Other * Excluding charges in connection with VISA litigation, goodwill impairment, restructuring charges, credit costs, and FDIC insurance. Non-GAAP !nancial measure. See Appendix. 6,400 6,625 6,850 7,075 7,300 2Q08 3Q08 4Q08 1Q09 2Q09 (20)% (10)% 0% 10% 7,275 20% 7,001 6,876 6,720 6,465 Headcount Headcount Year-over-year Change -0.40% -3.10% -6.20% -6.30% -11.13% Thursday, July 23, 2009 12

$115 $132 $149 $166 $183 2Q08 3Q08 4Q08 1Q09 2Q09 $144.8 $129.2 $141.3 $162.3 $176.1 IMPROVING CORE OPERATING RESULTS – PRE-TAX, PRE-CREDIT COSTS INCOME** 2Q08 3Q08 4Q08 1Q09 2Q09 Pre-tax Income (loss) $21,539 ($59,682) ($740,480) ($221,806) ($663,396) Add: Provision Expense 93,616 151,351 363,867 290,437 631,526 Add: Other Credit Costs* 29,686 45,266 78,691 54,277 176,308 Add: Goodwill Impairment 27,000 9,887 442,730 – – Add: Restructuring Charges 4,251 9,048 2,826 6,358 397 Add (Subtract): Visa Litigation Settlement Expense (Recovery) – 6,347 (6,390) – – Pre-tax, Pre-credit Costs Income $176,092 $162,217 $141,244 $129,266 $144,835 (in thousands) * other credit costs consist primarily of losses on ORE, reserve for unfunded commitments, and charges related to other loans held for sale. (in millions) ** Non-GAAP !nancial measure. See Appendix. Thursday, July 23, 2009 13

$60 $120 $180 $240 $300 2Q08 3Q08 4Q08 1Q09 2Q09 $107.7 $99.0 $88.6 $88.7 $107.8 $205.0 $204.5 $205.3 $202.7 $219.6 $273.4 $267.8 $258.0 $243.2 $256.6 PRE-TAX INCOME EXCLUDING CREDIT COSTS BY COMPONENT (in millions) (1) Excludes provision expense (2) Excludes restructuring charges, goodwill impairment charges, and VISA settlement expense (recovery). Also excludes other credit costs (reserve for unfunded commitments, as well as ORE and charges related to impaired loans held for sale). Non-GAAP Financial measure. See Appendix. NII(1) Adjusted G&A Expense(2) Fee Income $203.0 Includes $16.6 million for FDIC special assessment Thursday, July 23, 2009 14

Credit Update Thursday, July 23, 2009 15

CREDIT QUALITY TRENDS 1.20% 2.12% 1.30% 1.39% 1.33% 1.46% 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 0.16% 0.14% 0.18% 0.14% 0.11% 0.11% 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3.33% 2.32% 2.14% 1.68% 1.46% 1.52% Total Past Dues Past Dues > 90 Days 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 6.25% 6.24% 4.16% 3.58% 3.00% 2.49% Allowance for Loan Losses NPA Ratio Thursday, July 23, 2009 16

ASSET DISPOSITION ACTIVITY 2Q09 Sales Proceeds as a 1Q09 Sales 2Q09 Sales % of Book Balance % of Unpaid Principal Balance 2Q09 Loss on Sale Local Sales $89 $333 63% 46% $122 Note/ORE Sales 72 239 60% 41% 96 Short Sales 7 84 71% 62% 24 Auctions 10 10 84% 51% 2 Wholesale Bulk Note Sales 17 71 40% 36% 43 Total Sales $106 $404 59% 45% $165 (in millions) Thursday, July 23, 2009 17

RESERVE BUILD % of loans 1Q09 Allowance for Loan Losses $642 2.32% Allowance for loan dispositions 200 Credit Migration 38 Increase in expected loss factors 34 Other 5 2Q09 Allowance for Loan Losses 919 3.33% Total Reserve Build in 2Q09 $277 (dollars in millions) Thursday, July 23, 2009 18

ALLOWANCE AND CUMULATIVE WRITEDOWNS ON NON-PERFORMING LOANS Non-performing loans $1,490 Allowance for loan losses on non-performing loans 342 Cumulative write-downs LTD 302 Total allowance and write-downs $644 Allowance and cumulative write-downs on nonperforming loans 35.9% (in millions) Thursday, July 23, 2009 19

CHARGE-OFFS BY TYPE 2Q09 1Q09 Category $ % $ % Investment Properties $47.7 3.2% $16.1 1.1% 1-4 Family Properties 185.0 16.9 113.4 9.5% Land for Future Development 36.1 9.0% 46.5 11.4% Total CRE 268.8 9.1% 176.0 5.8% Commercial and Industrial 61.6 2.2% 53.2 1.9% Retail 24.8 2.3% 17.0 1.6% Total Net Charge-offs $355.2 5.1% $246.3 3.5% Losses on Note Sales $103.0 $30.0 (in millions) Excluding note sales, 2Q09 charge-offs are $252 million, or 3.7% of average loans Thursday, July 23, 2009 20

NPA ACTIVITY 2Q09 1Q09 Inc/(Dec) Beginning NPAs $1,751 $1,171 n/a + Additions 765 939 (174) - Upgrade to Accrual (15) (4) (11) — Payments/Proceeds (245) (68) (177) — Loan Charge-Offs (355) (246) (109) — ORE Losses (65) (41) (24) — ORE Valuation Adjustment — Dispositions (100) – (100) Ending NPAs $1,736 $1,751 ($15) (in millions) Thursday, July 23, 2009 21

4Q07 4Q08 1Q09 2Q09 3,826 4,343 4,704 5,875 $0 $1,500 $3,000 $4,500 $6,000 1,286 1,077 807 1,810 DIMINISHING EXPOSURE IN RESIDENTIAL & LAND PORTFOLIOS Total Portfolio Performing Res. C&D and Land Acq. Portfolio has decreased by 36%, from $5.9B to $3.8B since 4Q07: • 4Q07 — portfolio represented 22% of total loans — Atlanta comprised 7% • 2Q09 — portfolio represents 14% of total loans - Atlanta comprises 3% Atlanta (in millions) Performing Residential C&D and Land Acquisition Portfolios Thursday, July 23, 2009 23

CAPITAL ANALYSIS Thursday, July 23, 2009 25

CAPITAL ANALYSIS Assumptions Category 12/31/08 Balance 2009-10 Potential Loss Rate Investment Properties $5,523 6.10% 1-4 Family Const. & Dev. 3,735 24.10% 1-4 Family Investment Mtg. 1,442 6.00% Land Acquisition 1,620 15.50% Total CRE 12,320 12.78% Total C&I 11,247 5.22% Total Retail 4,390 5.77% Unearned Income (37) – Total Loans $27,920 8.65% Credit Loss Assumptions (in millions) Hypothetical Year-End 2010 Beginning Tier 1 Capital 12/31/2008 $3,603 Total Credit Losses (2,415) Change in allowance for loan losses 181 Capital Impact of Credit Losses (2,234) Pre-Tax, Pre-Credit Costs Income 1,212 Tax Bene!t 381 Preferred/Common Dividends (141) Total Capital Burn (782) Ending Tier 1 Capital 2,821 Ratio 9.0% Less: Preferred Stock 930 Tier 1 Common 1,891 Ratio 6.1% Total Risk Based Capital 3,799 Ratio 12.2% Tangible common equity to tangible assets 5.92% Capital Surplus - 4% Tier 1 Common Ratio $642 Analysis of Capital • Continued decline in economic conditions during 2009 • Stabilizing economic conditions beginning in 2010 with slight lift in second half of 2010 • Ending allowance for loan losses 1.5% of loans • Credit losses and pre-tax, pre-credit costs income based upon management estimates Thursday, July 23, 2009 26

APPENDIX Thursday, July 23, 2009 27

NON-INTEREST INCOME 2Q09 1Q09 2Q08 2Q09 vs. 1Q09 % Change 2Q09 vs. 2Q08 % Change Non-Interest Income: Service Charges on Deposit Accts. $29,702 $28,699 $26,070 3.49% 13.93% Fiduciary and Asset Management Fees 10,657 10,815 12,898 (1.46) (17.37) Brokerage and Investment Banking Revenue 7,521 6,871 9,206 9.46 (18.30) Mortgage Banking Income 14,590 9,322 5,686 56.51 156.60 Bankcard Fees 13,755 12,681 14,198 8.47 (3.12) Other Fee Income 8,722 7,690 10,081 13.42 (13.48) Increase in Fair Value of Private Equity Investments, Net 8,090 — - — - Proceeds from sale of MasterCard shares 8,351 — 16,186 — (48.41) Other Non-Interest Income 6,450 12,670 13,373 (49.09) (51.77) Total Non-Interest Income $107,838 $88,748 $107,698 21.51% 0.13% (in thousands) Thursday, July 23, 2009 31