EX-99.2 3 g10110exv99w2.htm EX-99.2 SUPPLEMENTAL INFORMATION EX-99.2 SUPPLEMENTAL INFORMATION
 

Exhibit 99.2
Synovus
5 of 12
INCOME STATEMENTS
                         
(Unaudited)   Nine Months Ended  
(In thousands, except per share data)   September 30,  
    2007     2006     Change  
       
Interest Income (Taxable Equivalent)
  $ 1,688,504       1,475,205       14.5 %
Interest Expense
    812,284       628,594       29.2  
 
                 
Net Interest Income (Taxable Equivalent)
    876,220       846,611       3.6  
Tax Equivalent Adjustment
    3,887       4,369       (11.0 )
 
                 
Net Interest Income
    872,333       842,242       3.5  
Provision for Loan Losses
    99,566       56,473       76.3  
 
                 
Net Interest Income After Provision
    772,767       785,769       (1.7 )
 
                 
Non-Interest Income:
                       
Electronic Payment Processing Services
    710,648       683,499       4.0  
Merchant Acquiring Services
    190,120       195,318       (2.7 )
Other Transaction Processing Services Revenue
    161,910       134,760       20.1  
Service Charges on Deposits
    83,156       84,281       (1.3 )
Fiduciary and Asset Management Fees
    37,002       35,090       5.4  
Brokerage and Investment Banking Revenue
    23,381       20,009       16.9  
Mortgage Banking Income
    20,876       22,419       (6.9 )
Bankcard Fees
    35,370       33,085       6.9  
Securities Gains (Losses)
    891       (2,119 )   nm
Other Fee Income
    29,749       29,664       0.3  
Other Non-Interest Income
    55,339       30,491       81.5  
 
                 
 
                       
Non-Interest Income before Reimbursable Items
    1,348,442       1,266,497       6.5  
Reimbursable Items
    279,727       267,825       4.4  
 
                 
Total Non-Interest Income
    1,628,169       1,534,322       6.1  
 
                 
 
                       
Non-Interest Expense:
                       
Personnel Expense
    777,842       717,825       8.4  
Occupancy and Equipment Expense
    284,556       297,700       (4.4 )
Other Non-Interest Expense
    302,637       314,518       (3.8 )
Spin-off Related Expenses
    6,298           nm
 
                 
Non-Interest Expense before Reimbursable Items
    1,371,333       1,330,043       3.1  
Reimbursable Items
    279,727       267,825       4.4  
 
                 
Total Non-Interest Expense
    1,651,060       1,597,868       3.3  
 
                 
Minority Interest in Consolidated Subsidiaries
    38,139       31,311       21.8  
Income from Continuing Operations before Income Taxes
    711,737       690,912       3.0  
Income Taxes
    264,351       249,542       5.9  
 
                 
Income from Continuing Operations
    447,386       441,370       1.4  
 
                       
Discontinued Operations, Net of Income Taxes
    4,200           nm
 
                 
 
                       
Net Income
  $ 451,586       441,370       2.3  
 
                 
 
                       
Basic Earnings Per Share
                       
Income from Continuing Operations
  $ 1.37       1.38       (0.6 )%
Net Income
    1.38       1.38       0.3  
Diluted Earnings Per Share
                       
Income from Continuing Operations
    1.36       1.37       (0.8 )
Net Income
    1.37       1.37       0.1  
Dividends Declared Per Share
    0.62       0.59       5.1  
 
                       
Return on Average Assets *
    1.85 %     2.01     (16)bp
Return on Average Equity *
    15.52       18.04       (252 )
Average Shares Outstanding — Basic
    326,443       320,063       2.0 %
Average Shares Outstanding — Diluted
    330,001       322,860       2.2  
 
bp — change is measured as difference in basis points.
nm — not meaningful
* -ratios are annualized

 


 

Synovus   6 of 12
INCOME STATEMENTS
                                                 
(Unaudited)                  
(In thousands, except per share data)   2007     2006     3rd Quarter  
    Third     Second     First     Fourth     Third     ’07 vs. ’06  
    Quarter     Quarter     Quarter     Quarter     Quarter     Change  
     
Interest Income (Taxable Equivalent)
  $ 573,514       565,737       549,253       547,088       535,038       7.2 %
Interest Expense
    278,113       272,536       261,637       253,998       241,027       15.4  
 
                                   
 
                                               
Net Interest Income (Taxable Equivalent)
    295,401       293,201       287,616       293,090       294,011       0.5  
Tax Equivalent Adjustment
    1,238       1,295       1,354       1,458       1,409       (12.1 )
 
                                   
 
                                               
Net Interest Income
    294,163       291,906       286,262       291,632       292,602       0.5  
Provision for Loan Losses
    58,770       20,281       20,515       18,675       18,390       219.6  
 
                                   
 
                                               
Net Interest Income After Provision
    235,393       271,625       265,747       272,957       274,212       (14.2 )
 
                                   
 
                                               
Non-Interest Income:
                                               
Electronic Payment Processing Services
    238,495       243,411       228,742       302,370       231,753       2.9  
Merchant Acquiring Services
    65,163       64,277       60,680       64,957       65,548       (0.6 )
Other Transaction Processing Services Revenue
    53,940       54,847       53,123       51,634       44,813       20.4  
Service Charges on Deposits
    28,736       28,050       26,370       28,136       29,292       (1.9 )
Fiduciary and Asset Management Fees
    12,306       12,434       12,262       12,710       11,868       3.7  
Brokerage and Investment Banking Revenue
    8,123       7,809       7,449       6,721       6,502       24.9  
Mortgage Banking Income
    5,955       7,695       7,226       6,837       8,440       (29.4 )
Bankcard Fees
    11,923       11,567       11,880       11,218       11,438       4.2  
Securities Gains (Losses)
    186       258       447             (982 )           nm
Other Fee Income
    9,910       10,411       9,427       9,079       10,024       (1.1 )
Other Non-Interest Income
    29,152       15,461       10,726       21,707       10,057       189.9  
 
                                   
 
                                               
Non-Interest Income before Reimbursable Items
    463,889       456,220       428,332       515,369       428,753       8.2  
Reimbursable Items
    98,172       95,828       85,727       83,894       99,187       (1.0 )
 
                                   
 
                                               
Total Non-Interest Income
    562,061       552,048       514,059       599,263       527,940       6.5  
 
                                   
 
                                               
Non-Interest Expense:
                                               
Personnel Expense
    261,122       261,768       254,953       256,691       256,220       1.9  
Occupancy and Equipment Expense
    97,412       94,234       92,914       116,470       100,504       (3.1 )
Other Non-Interest Expense
    100,985       103,087       98,557       115,755       98,995       2.0  
Spin-off Related Expenses
    5,937       361                               nm
 
                                   
 
                                               
Non-Interest Expense before Reimbursable Items
    465,456       459,450       446,424       488,916       455,719       2.1  
Reimbursable Items
    98,172       95,828       85,727       83,894       99,187       (1.0 )
 
                                   
 
                                               
Total Non-Interest Expense
    563,628       555,278       532,151       572,810       554,906       1.6  
 
                                   
 
                                               
Minority Interest in Consolidated Subsidiaries
    13,674       13,187       11,278       16,790       10,406       31.4  
Income from Continuing Operations before Income Taxes
    220,152       255,208       236,377       282,620       236,840       (7.0 )
Income Taxes
    78,068       96,658       89,624       107,073       82,774       (5.7 )
 
                                   
 
                                               
Income from Continuing Operations
    142,084       158,550       146,753       175,547       154,066       (7.8 )
 
                                               
Discontinued Operations, Net of Income Taxes
          4,200                               nm
 
                                   
Net Income
  $ 142,084       162,750       146,753       175,547       154,066       (7.8 )
 
                                   
 
                                               
Basic Earnings Per Share
                                               
Income from Continuing Operations
  $ 0.43       0.49       0.45       0.54       0.48       (8.8) %
Net Income
    0.43       0.50       0.45       0.54       0.48       (8.8 )
Diluted Earnings Per Share
                                               
Income from Continuing Operations
    0.43       0.48       0.45       0.54       0.47       (8.7 )
Net Income
    0.43       0.49       0.45       0.54       0.47       (8.7 )
Dividends Declared Per Share
    0.21       0.21       0.21       0.20       0.20       5.1  
 
                                               
Return on Average Assets *
    1.70 %     2.00       1.86       2.22       2.00     (30) bp
Return on Average Equity *
    14.02       16.69       15.94       19.03       17.63       (361 )
Average Shares Outstanding — Basic
    327,215       326,410       325,687       324,555       323,657       1.1 %
Average Shares Outstanding — Diluted
    330,160       330,263       329,573       328,122       326,834       1.0  
 
bp — change is measured as difference in basis points.
nm — not meaningful
* — ratios are annualized


 

Synovus
7 of 12
Financial Services Segment
     INCOME STATEMENTS
     (Unaudited)
     (In thousands)
                         
    Nine Months Ended  
    September 30,  
    2007     2006     Change  
       
 
                       
Interest Income (Taxable Equivalent)
  $ 1,688,565       1,475,178       14.5 %
Interest Expense
    822,445       633,918       29.7  
 
                 
Net Interest Income (Taxable Equivalent)
    866,120       841,260       3.0  
Tax Equivalent Adjustment
    3,857       4,343       (11.2 )
 
                 
Net Interest Income
    862,263       836,917       3.0  
Provision for Loan Losses
    99,566       56,473       76.3  
 
                 
Net Interest Income After Provision
    762,697       780,444       (2.3 )
 
                 
 
                       
Non-Interest Income:
                       
Service Charges on Deposits
    83,157       84,281       (1.3 )
Fiduciary and Asset Management Fees
    37,652       35,707       5.4  
Brokerage and Investment Banking Revenue
    23,381       20,009       16.9  
Mortgage Banking Income
    20,876       22,419       (6.9 )
Bankcard Fees
    35,370       33,085       6.9  
Securities Gains (Losses)
    891       (2,119 )   nm
Other Fee Income
    29,749       29,664       0.3  
Other Non-Interest Income
    58,953       38,791       52.0  
 
                 
Total Non-Interest Income
    290,029       261,837       10.8  
 
                 
 
                       
Non-Interest Expense:
                       
Personnel Expense
    345,690       335,243       3.1  
Occupancy and Equipment Expense
    82,914       73,899       12.2  
Other Non-Interest Expense
    164,281       151,961       8.1  
Spin-off Related Expenses
    4,606           nm
 
                 
 
                       
Total Non-Interest Expense
    597,491       561,103       6.5  
 
                 
Income from Continuing Operations before Income Taxes
    455,235       481,178       (5.4 )
Income Taxes
    162,908       171,051       (4.8 )
 
                 
 
                       
Income from Continuing Operations
    292,327       310,127       (5.7 )
 
                       
Discontinued Operations, Net of Income Taxes
    4,200           nm
 
                 
 
                       
Net Income
  $ 296,527       310,127       (4.4 )
 
                 
 
                       
Return on Average Assets *
    1.27 %     1.48       (21 )bp
Return on Average Equity *
    13.98       17.19       (321 )
 
bp — change is measured as difference in basis points.
nm — not meaningful
* — ratios are annualized


 

Synovus
8 of 12
Financial Services Segment
     INCOME STATEMENTS
     (Unaudited)
     (In thousands)
                                                 
    2007     2006     3rd Quarter  
    Third     Second     First     Fourth     Third     ’07 vs. ’06  
    Quarter     Quarter     Quarter     Quarter     Quarter     Change  
       
Interest Income (Taxable Equivalent)
  $ 573,545       565,777       549,243       547,079       535,025       7.2 %
Interest Expense
    281,478       276,017       264,950       256,760       242,875       15.9  
 
                                   
Net Interest Income (Taxable Equivalent)
    292,067       289,760       284,293       290,319       292,150       0.0  
Tax Equivalent Adjustment
    1,228       1,285       1,344       1,448       1,395       (11.9 )
 
                                   
Net Interest Income
    290,839       288,475       282,949       288,871       290,755       0.0  
Provision for Loan Losses
    58,770       20,281       20,515       18,675       18,390       219.6  
 
                                   
Net Interest Income After Provision
    232,069       268,194       262,434       270,196       272,365       (14.8 )
 
                                   
Non-Interest Income:
                                               
Service Charges on Deposits
    28,736       28,050       26,370       28,136       29,292       (1.9 )
Fiduciary and Asset Management Fees
    12,524       12,658       12,473       12,921       12,078       3.7  
Brokerage and Investment Banking Revenue
    8,123       7,809       7,449       6,721       6,502       24.9  
Mortgage Banking Income
    5,955       7,695       7,226       6,837       8,440       (29.4 )
Bankcard Fees
    11,923       11,567       11,880       11,218       11,438       4.2  
Securities Gains (Losses)
    186       258       447             (982 )   nm
Other Fee Income
    9,910       10,411       9,427       9,079       10,024       (1.1 )
Other Non-Interest Income
    28,837       17,883       12,231       22,682       12,527       130.2  
 
                                   
 
                                               
Total Non-Interest Income
    106,194       96,331       87,503       97,594       89,319       18.9  
 
                                   
Non-Interest Expense:
                                               
Personnel Expense
    115,941       115,822       113,927       115,130       113,842       1.8  
Occupancy and Equipment Expense
    28,055       27,572       27,290       26,370       25,566       9.7  
Other Non-Interest Expense
    56,429       54,267       53,580       61,930       51,899       8.7  
Spin-off Related Expenses
    4,245       361                       nm
 
                                   
Total Non-Interest Expense
    204,670       198,022       194,797       203,430       191,307       7.0  
 
                                   
Income from Continuing Operations before Income Taxes
    133,593       166,503       155,140       164,360       170,377       (21.6 )
Income Taxes
    47,121       61,055       54,733       59,384       60,394       (22.0 )
 
                                   
 
                                               
Income from Continuing Operations
    86,472       105,448       100,407       104,976       109,983       (21.4 )
 
                                               
Discontinued Operations, Net of Income Taxes
          4,200                       nm
 
                                   
Net Income
  $ 86,472       109,648       100,407       104,976       109,983       (21.4 )
 
                                   
 
                                               
Return on Average Assets *
    1.08 %     1.40       1.33       1.39       1.49       (41 )bp
Return on Average Equity *
    11.76       15.37       14.95       15.45       17.04       (528 )
 
bp — change is measured as difference in basis points.
nm — not meaningful
* — ratios are annualized

 


 

Synovus
9 of 12
                         
                   
BALANCE SHEETS   September 30, 2007     December 31, 2006     September 30, 2006  
(Unaudited)                        
(In thousands, except share data)                        
ASSETS
                       
Cash and due from banks
  $ 944,215       889,975       790,602  
Interest earning deposits with banks
    4,318       19,389       17,444  
Federal funds sold and securities purchased under resale agreements
    113,654       101,091       308,300  
Trading account assets
    33,009       15,266       15,031  
Mortgage loans held for sale
    165,837       175,042       158,690  
Investment securities available for sale
    3,628,766       3,352,357       3,269,889  
 
                       
Loans, net of unearned income
    25,774,656       24,654,552       24,192,596  
Allowance for loan losses
    (356,887 )     (314,459 )     (319,973 )
 
                 
Loans, net
    25,417,769       24,340,093       23,872,623  
 
                 
 
                       
Premises and equipment, net
    803,528       752,738       723,974  
Contract acquisition costs and computer software, net
    351,576       383,899       403,702  
Goodwill, net
    682,047       669,515       681,720  
Other intangible assets, net
    49,933       63,586       50,900  
Other assets
    1,381,011       1,091,822       1,052,007  
 
                 
 
                       
Total assets
  $ 33,575,663       31,854,773       31,344,882  
 
                 
 
                       
LIABILITIES AND SHAREHOLDERS’ EQUITY
                       
Liabilities:
                       
Deposits:
                       
Non-interest bearing retail and commercial deposits
  $ 3,564,105       3,538,598       3,659,629  
Interest bearing retail and commercial deposits
    17,887,961       17,741,354       17,103,778  
 
                 
 
                       
Total retail and commercial deposits
    21,452,066       21,279,952       20,763,407  
 
                       
Brokered time deposits
    2,872,978       3,014,495       3,199,157  
 
                 
Total deposits
    24,325,044       24,294,447       23,962,564  
 
                       
Federal funds purchased and other short-term liabilities
    2,568,759       1,572,809       1,582,037  
 
                       
Long-term debt
    1,760,162       1,350,139       1,363,519  
 
                       
Other liabilities
    585,631       692,019       654,742  
 
                 
 
                       
Total liabilities
    29,239,596       27,909,414       27,562,862  
 
                 
 
                       
Minority interest in consolidated subsidiaries
    274,571       236,709       218,073  
 
                       
Shareholders’ equity:
                       
Common stock, par value $1.00 a share (1)
    334,095       331,214       330,474  
Additional Paid in Capital
    1,107,653       1,033,055       1,009,976  
Treasury stock (2)
    (113,944 )     (113,944 )     (113,944 )
Accumulated other comprehensive income(loss)
    23,339       (2,129 )     (7,519 )
Retained earnings
    2,710,353       2,460,454       2,344,960  
 
                 
Total shareholders’ equity (3)
    4,061,496       3,708,650       3,563,947  
 
                 
Total liabilities and shareholders’ equity
  $ 33,575,663       31,854,773       31,344,882  
 
                 
 
(1)   Common shares outstanding: 328,433,944; 325,552,375; and 324,812,048 at September 30, 2007, December 31, 2006, and
 
    September 30, 2006, respectively.
 
(2)   Treasury shares: 5,661,538 at September 30, 2007, December 31, 2006, and September 30, 2006.
 
(3)   Book value per share: $12.37 ; $11.39; and $10.97 at September 30, 2007, December 31, 2006, and September 30, 2006, respectively.

 


 

Synovus
10 of 12
AVERAGE BALANCES AND YIELDS/RATES *
(Unaudited)

(Dollars in thousands)
                                         
    2007     2006  
    Third     Second     First     Fourth     Third  
    Quarter     Quarter     Quarter     Quarter     Quarter  
     
Interest Earning Assets
                                       
Taxable Investment Securities
  $ 3,495,017       3,420,831       3,301,137       3,178,852       3,025,507  
Yield
    4.82 %     4.83       4.77       4.51       4.39  
Tax-Exempt Investment Securities
  $ 170,211       178,183       185,012       193,737       197,024  
Yield (taxable equivalent)
    6.74 %     6.75       6.84       6.95       6.70  
Trading Account Assets
  $ 56,217       59,311       64,204       34,471       53,181  
Yield
    7.06 %     6.47       5.65       6.67       5.30  
Commercial Loans
  $ 21,820,687       21,739,107       21,242,921       20,791,108       20,407,139  
Yield
    8.13 %     8.20       8.24       8.25       8.23  
Consumer Loans
  $ 915,847       896,267       928,256       928,521       929,964  
Yield
    8.17 %     8.14       8.01       7.98       7.96  
Mortgage Loans
  $ 1,152,621       1,110,754       1,081,760       1,089,794       1,091,425  
Yield
    7.10 %     7.03       6.98       6.99       6.93  
Credit Card Loans
  $ 277,445       275,105       270,444       268,705       265,120  
Yield
    10.96 %     10.64       11.17       10.89       10.86  
Home Equity Loans
  $ 1,444,411       1,407,005       1,385,012       1,316,842       1,252,803  
Yield
    7.80 %     7.82       7.68       7.82       7.97  
Allowance for Loan Losses
  $ (335,406 )     (329,028 )     (317,977 )     (317,603 )     (318,195 )
     
Loans, Net
  $ 25,275,605       25,099,210       24,590,416       24,077,367       23,628,256  
Yield
    8.21 %     8.26       8.28       8.29       8.29  
Mortgage Loans Held for Sale
  $ 176,448       163,364       160,482       149,113       130,196  
Yield
    6.91 %     6.18       6.07       6.02       6.51  
Federal Funds Sold and Other Short-Term Investments
  $ 89,754       131,092       147,932       120,804       155,200  
Yield
    5.53 %     5.42       5.61       5.40       5.32  
Total Interest Earning Assets
  $ 29,263,252       29,051,991       28,449,183       27,754,344       27,189,364  
Yield
    7.78 %     7.81       7.82       7.83       7.81  
 
                                       
Interest Bearing Liabilities
                                       
 
                                       
Interest Bearing Demand Deposits
  $ 3,047,279       3,141,899       3,113,531       3,034,375       2,946,646  
Rate
    2.24 %     2.28       2.30       2.18       2.03  
Money Market Accounts
  $ 7,588,170       7,388,012       7,083,633       6,956,181       6,587,365  
Rate
    4.44 %     4.49       4.49       4.45       4.38  
Savings Deposits
  $ 479,479       497,422       502,948       514,317       547,779  
Rate
    0.48 %     0.57       0.68       0.72       0.72  
Time Deposits Under $100,000
  $ 2,917,089       3,020,881       3,037,815       3,003,141       2,917,518  
Rate
    4.81 %     4.85       4.79       4.64       4.38  
Time Deposits Over $100,000 (less brokered time deposits)
  $ 4,029,091       4,118,221       4,101,471       3,997,493       3,756,853  
Rate
    5.12 %     5.19       5.15       5.07       4.92  
     
Total Interest Bearing Core Deposits
    18,061,108       18,166,435       17,839,398       17,505,507       16,756,161  
Rate
    4.18 %     4.22       4.20       4.12       3.97  
Brokered Time Deposits
  $ 3,188,310       3,175,161       3,030,793       3,137,889       3,165,905  
Rate
    5.19 %     5.05       5.08       5.01       4.85  
     
Total Interest Bearing Deposits
  $ 21,249,418       21,341,596       20,870,191       20,643,396       19,922,066  
Rate
    4.33 %     4.34       4.33       4.26       4.11  
Federal Funds Purchased and Other Short-Term Liabilities
  $ 1,928,206       1,711,310       1,690,049       1,283,832       1,553,699  
Rate
    4.70 %     4.90       4.87       4.72       4.73  
Long-Term Debt
  $ 1,707,765       1,565,014       1,450,466       1,360,635       1,364,226  
Rate
    5.31 %     5.12       5.05       4.90       4.57  
Total Interest Bearing Liabilities
  $ 24,885,389       24,617,920       24,010,706       23,287,863       22,839,991  
Rate
    4.43 %     4.43       4.41       4.32       4.18  
Non-Interest Bearing Demand Deposits
  $ 3,384,998       3,372,063       3,372,105       3,469,233       3,528,942  
Shareholders’ Equity
  $ 4,020,615       3,910,907       3,733,523       3,659,996       3,467,029  
Total Assets
  $ 33,113,667       32,710,807       32,022,912       31,307,991       30,613,827  
Net Interest Margin
    4.02 %     4.05       4.10       4.20       4.30  
 
* Yields and rates are annualized.

 


 

Synovus
11 of 12
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
(Unaudited)

(Dollars in thousands)
                                 
    September 30, 2007  
            Loans as a %     Total     Nonperforming Loans  
            of Total Loans     Nonperforming     as a % of Total  
Loan Type   Total Loans     Outstanding     Loans     Nonperforming Loans  
       
 
                               
Multi-Family
  $ 449,814       1.8 %   $ 345       0.2 %
Hotels
    591,527       2.3              
Office Buildings
    881,138       3.4       4,467       2.0  
Shopping Centers
    739,334       2.9       83        
Commercial Development
    937,367       3.6       6,125       2.7  
Other Investment Property
    608,227       2.4       324       0.2  
 
                       
Total Investment Properties
    4,207,407       16.4       11,344       5.1  
 
                       
1-4 Family Construction
    2,302,842       8.9       59,642       26.6  
1-4 Family Perm / Mini-Perm
    1,219,577       4.7       13,268       5.9  
Residential Development
    2,269,844       8.8       56,541       25.2  
 
                       
Total 1-4 Family Properties
    5,792,263       22.4       129,451       57.7  
 
                       
Land Acquisition
    1,476,042       5.7       8,782       3.9  
 
                       
Total Commercial Real Estate
    11,475,712       44.5       149,577       66.7  
 
                       
Commercial , Financial, and Agricultural
    6,281,941       24.4       43,935       19.6  
Owner-Occupied
    4,197,447       16.3       11,725       5.2  
 
                       
Total Commercial & Industrial
    10,479,388       40.7       55,660       24.8  
 
                               
Home Equity
    1,478,694       5.7       3,232       1.5  
Consumer Mortgages
    1,620,730       6.3       12,934       5.8  
Credit Card
    280,192       1.1              
Other Retail Loans
    485,928       1.9       2,652       1.2  
 
                       
Total Retail
    3,865,544       15.0       18,818       8.5  
Unearned Income
    (45,988 )     (0.2 )            
 
                       
Total
  $ 25,774,656       100.0 %   $ 224,055       100.0 %
 
                       
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)

(Dollars in thousands)
                                         
       
    Total Loans     3Q07 vs. 4Q06             3Q07 vs. 3Q06  
Loan Type   September 30, 2007     December 31, 2006     % change (1)     September 30, 2006     % change  
       
Multi-Family
  $ 449,814       505,586       (14.7 )%   $ 517,644       (13.1 )%
Hotels
    591,527       643,180       (10.7 )     642,330       (7.9 )
Office Buildings
    881,138       881,658       (0.1 )     888,397       (0.8 )
Shopping Centers
    739,334       764,924       (4.5 )     749,189       (1.3 )
Commercial Development
    937,367       876,570       9.3       958,636       (2.2 )
Other Investment Property
    608,227       434,298       53.5       406,880       49.5  
 
                             
Total Investment Properties
    4,207,407       4,106,216       3.3       4,163,076       1.1  
 
                             
1-4 Family Construction
    2,302,842       2,347,025       (2.5 )     2,244,886       2.6  
1-4 Family Perm / Mini-Perm
    1,219,577       1,193,895       2.9       1,199,959       1.6  
Residential Development
    2,269,844       2,036,207       15.3       1,963,061       15.6  
 
                             
Total 1-4 Family Properties
    5,792,263       5,577,127       5.2       5,407,906       7.1  
 
                             
Land Acquisition
    1,476,042       1,402,402       7.0       1,307,168       12.9  
 
                             
Total Commercial Real Estate
    11,475,712       11,085,745       4.7       10,878,150       5.5  
 
                             
Commercial, Financial, and Agricultural
    6,281,941       5,875,854       9.2       5,711,488       10.0  
Owner-Occupied
    4,197,447       4,080,743       3.8       4,097,768       2.4  
 
                             
Total Commercial & Industrial
    10,479,388       9,956,597       7.0       9,809,256       6.8  
 
                                       
Home Equity
    1,478,694       1,364,030       11.2       1,272,804       16.2  
Consumer Mortgages
    1,620,730       1,517,849       9.1       1,512,091       7.2  
Credit Card
    280,192       276,269       1.9       266,205       5.3  
Other Retail Loans
    485,928       500,757       (4.0 )     506,490       (4.1 )
 
                             
Total Retail
    3,865,544       3,658,905       7.6       3,557,590       8.7  
Unearned Income
    (45,988 )     (46,695 )     (2.0 )     (52,400 )     (12.2 )
 
                             
Total
  $ 25,774,656       24,654,552       6.1 %   $ 24,192,596       6.5 %
 
                             
 
(1)   Percentage change is annualized.

 


 

Synovus
12 of 12
CREDIT QUALITY DATA
                                                 
(Unaudited)            
(Dollars in thousands)   2007   2006   3rd Quarter
         
    Third   Second   First   Fourth   Third   ’07 vs. ’06
    Quarter   Quarter   Quarter   Quarter   Quarter   Change
       
Nonperforming Loans
  $ 224,055       180,776       138,790       96,623       94,766       136.4 %
Other Real Estate
    76,514       41,259       31,710       25,923       31,549       142.5  
Nonperforming Assets
    300,569       222,035       170,500       122,545       126,315       138.0  
Allowance for Loan Losses
    356,887       331,130       326,826       314,459       319,973       11.5  
 
                                               
Net Charge-Offs — Quarter
    33,013       15,978       8,148       24,190       12,111       172.6  
Net Charge-Offs — YTD
    57,139       24,126       8,148       60,217       36,027       58.6  
Net Charge-Offs / Average Loans — Quarter
    0.51 %     0.25       0.13       0.39       0.20          
Net Charge-Offs / Average Loans — YTD
    0.30       0.19       0.13       0.26       0.21          
 
                                               
Nonperforming Loans / Loans & ORE
    0.87       0.71       0.55       0.39       0.39          
Nonperforming Assets / Loans & ORE
    1.16       0.87       0.68       0.50       0.52          
Allowance / Loans
    1.38       1.30       1.30       1.28       1.32          
 
                                               
Allowance / Nonperforming Loans
    159.29       183.17       235.48       325.45       337.65          
Allowance / Nonperforming Assets
    118.74       149.13       191.69       256.61       253.31          
 
                                               
Past Due Loans over 90 days
    22,667       23,067       27,414       34,495       18,002          
As a Percentage of Loans Outstanding
    0.09       0.09       0.11       0.14       0.07          
 
                                               
Total Past Dues
    230,035       164,180       150,188       154,027       140,526          
As a Percentage of Loans Outstanding
    0.89       0.64       0.60       0.62       0.58          
REGULATORY CAPITAL RATIOS (1)
(Unaudited)

(Dollars in thousands)
                                 
                     
    September 30, 2007   December 31, 2006   September 30, 2006        
 
                               
Tier 1 Capital
  $ 3,622,904       3,254,603       3,067,156          
Total Risk-Based Capital
    4,729,790       4,319,062       4,137,129          
Tier 1 Capital Ratio
    11.42 %     10.87       10.36          
Total Risk-Based Capital Ratio
    14.91       14.43       13.98          
Leverage Ratio
    11.19       10.64       10.28          
 
(1)   September 30, 2007 information is preliminary.