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 24, 2008
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) 649-4456

(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 January 24, 2008, Synovus Financial Corp. (“Synovus”) issued a press release and will hold an investor call and webcast to disclose financial results for the year ended December 31, 2007. The press release and Supplemental Information for use at this investor call are attached hereto as Exhibits 99.1 and 99.2 and incorporated herein by reference. This information shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 or incorporated by reference into any document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934 except as shall be expressly set forth by specific reference in such filing.
Item 5.02	Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
	On January 24, 2008, the Board of Directors of Synovus elected Philip W. Tomlinson to the Board of Directors. Mr. Tomlinson will serve as a director until the 2008 Annual Meeting of Shareholders. Mr. Tomlinson will stand for election by shareholders for a new term at the Annual Meeting.
Item 7.01	Regulation FD Disclosure.
	See Item 2.02 above.
Item 9.01	Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Synovus’ press release dated January 24, 2008
99.2	Supplemental Information prepared for use with the press release

2

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: January 24, 2008	By:	/s/ Liliana McDaniel
		Liliana McDaniel
		Chief Accounting Officer

3

EX-99.1

Exhibit 99.1

                                                                           NEWS RELEASE

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

Synovus Reports Earnings per Share of $1.60 for 2007

(Earnings per share of $1.76 for 2007 excluding expenses related to TSYS spin-off and Visa litigation)

Columbus, Ga., January 24, 2008 — Synovus reports diluted earnings per share of $1.60 for 2007 compared to $1.90 for 2006. Net income was $526.3 million for the year compared to $616.9 million last year. The 2007 results include $31.0 million (net of income taxes and minority interest) in expenses related to the distribution of Synovus’ ownership interest in TSYS to Synovus’ shareholders in a spin-off transaction and $22.5 million (net of income taxes) of litigation expenses associated with indemnification obligations arising from Synovus’ ownership interest in Visa. Excluding these expenses, diluted earnings per share for 2007 was $1.76. The 2006 results included $33.2 million (net of income taxes and minority interest) for the impact of the Bank of America contract termination fee of $68.9 million, which was partially offset by the acceleration of the amortization of related contract acquisition costs of $6.0 million. Excluding these items, diluted earnings per share for 2006 was $1.80.

For the fourth quarter, diluted earnings per share was $0.25 compared to $0.54 for the fourth quarter of 2006. Net income was $81.9 million for the fourth quarter compared to $175.5 million for the same period last year. The fourth quarter of 2007 results include $25.0 million (net of income taxes and minority interest) in expenses related to the distribution of Synovus’ ownership interest in TSYS to Synovus’ shareholders in a spin-off transaction and $15.2 million (net of income taxes) in Visa litigation expenses. Excluding these expenses and the aforementioned 2006 contract termination fee, diluted earnings per share for the fourth quarter of 2007 was $0.37, compared to $0.44 in the same period a year ago.

Shareholders’ equity at December 31, 2007, was $3.44 billion, which represented a strong 10.45% of year-end assets. Total assets ended the year at $32.9 billion, an increase of 3.3% over December 31, 2006. The ratio of nonperforming assets to loans and other real estate was 1.67%, compared to 1.16% last quarter and 0.50% at December 31, 2006. The net charge-off ratio for the fourth quarter of 2007 was 0.91% compared to 0.51% last quarter and 0.39% in the fourth quarter of last year. The allowance for loan losses at December 31, 2007 was 1.39% of loans, compared to 1.38% last quarter and 1.28% at December 31, 2006. The provision for loan losses covered net charge-offs by 1.18x for the quarter.

Synovus Chairman and Chief Executive Officer Richard E. Anthony said, “2007 was a challenging year for credit. We continued to experience further weakness in our residential construction and residential development portfolios. These loan categories represent 54.1% of nonperforming loans at the end of the year and 41.7% of net charge-offs recognized in 2007. We

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

Synovus Reports Earnings per Share of $1.60 for 2007/p. 2

continue to take actions to aggressively manage these portfolios. The increases in nonperforming residential construction and development loans were in the panhandle of Florida, Atlanta, and Tampa Bay areas. At December 31, 2007, 70% of Synovus’ total nonperforming assets and 81% of total residential construction and development nonperforming loans are in these markets.”

Income from continuing operations (which represents the previously reported net income for the Financial Services segment) was $53.1 million for the fourth quarter of 2007 compared to $105.0 million for the fourth quarter last year. Excluding the Visa litigation related expenses, fourth quarter 2007 income from continuing operations was $68.3 million. Net interest income was $286.7 million compared to $288.9 million in the fourth quarter of last year. Total loans grew 7.5% in 2007. On a sequential quarter basis (annualized), commercial and industrial loans grew 8.7% and retail loans grew 13.5% while commercial real estate loans grew 12.5%. Residential construction and development loans declined 1.9%. Total core deposits (excludes brokered time deposits) increased 0.7% over the fourth quarter of 2006. The net interest margin for the quarter was 3.86%, compared to 3.97% last quarter and 4.16% in the fourth quarter of last year. Of the 11 basis point decrease in the net interest margin from the previous quarter, 7 basis points were due to a higher level of interest charge-offs and non-performing assets.

Non-interest income was up 1.4% over the fourth quarter last year with increases in brokerage and investment banking revenue of 27.9%, fiduciary and asset management fees — which include trust, financial planning and asset management fees — of 1.5%, and bankcard fees of 10.5%.

Discontinued Operations

In accordance with the provisions of Statement of Financial Accounting Standards (“SFAS”) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” and SFAS No. 146, “Accounting for Costs Associated with Exit or Disposal Activities,” the current period and historical consolidated results of operations of TSYS, as well as all costs associated with the spin-off of TSYS, are now presented as a component of income from discontinued operations.

The following table shows the components of income from discontinued operations for the three and twelve months ended December 31, 2007 and 2006:

	Three Months Ended					Years Ended
	December 31,					December 31,
(In thousands)	2007			2006		2007			2006
TSYS net income, net of minority interest	$	53,720			70,571		210,147			201,814
(excluding spin-off related expenses)
Spin-off related expenses, net of income taxes:
TSYS, net of minority interest		(16,880	)		—		(18,248	)		—
Financial Services		(8,123	)		—		(12,729	)		—
Gain on transfer of mutual funds, net of income taxes		—			—		4,200			—
Total income from discontinued operations, net of income taxes and minority interest	$	28,717			70,571		183,370			201,814

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

Synovus Reports Earnings per Share of $1.60 for 2007/p. 3

Non-GAAP Financial Measures

Presentation of net income and diluted net income per share excluding the expenses associated with the Visa litigation, TSYS spin-off, and Bank of America termination fee are non-GAAP (Generally Accepted Accounting Principles) financial measures. The following tables reconcile net income and diluted net income per share, comparing non-GAAP financial measures to GAAP financial measures:

	Three Months Ended								Year Ended
	December 31,								December 31,
(In thousands, except per share data)	2007		2006			% Chg			2007		2006			% Chg
Consolidated:
Net income, as reported	$	81,859		175,547			(53.4	%)		526,305		616,917			(14.7	%)
Visa litigation expense, net of income taxes		15,144		—		nm				22,478		—		nm
Spin-off related expenses, net of income taxes and minority interest		25,003		—		nm				30,977		—		nm
Bank of America termination fee, net of accelerated amortization, income taxes, and minority interest		—		(33,200	)	nm				—		(33,200	)	nm
Net income, as adjusted	$	122,006		142,347			(14.3	%)		579,760		583,717			(0.7	%)
Diluted net income per share:
Net income, as reported	$	0.25		0.54			(53.6	%)		1.60		1.90			(16.1	%)
Visa litigation expense, net of income taxes		0.05		—		nm				0.07		—		nm
Spin-off related expenses, net of income taxes and minority interest		0.07		—		nm				0.09		—		nm
Bank of America termination fee, net of accelerated amortization, income taxes, and minority interest		—		(0.10	)	nm				—		(0.10	)	nm
Diluted net income per share, as adjusted	$	0.37		0.44			(14.6	%)		1.76		1.80			(2.4	%)

Notes:
nm	= not meaningful

	Three Months Ended							Year Ended
	December 31,							December 31,
(In thousands, except per share data)	2007		2006		% Chg			2007		2006		% Chg
Income from continuing operations, as reported	$	53,142		104,976		(49.4	%)		342,935		415,103		(17.4	%)
Visa litigation expense, net of income taxes		15,144		—	nm				22,478		—	nm
Financial Services net income, as adjusted	$	68,286		104,976		(35.0	%)		365,413		415,103		(12.0	%)
Diluted net income per share:
Income from continuing operations, as reported	$	0.16		0.32		(49.6	%)		1.04		1.28		(18.8	%)
Visa litigation expense, net of income taxes		0.05		—	nm				0.07		—	nm
Net income per diluted share for Financial Services Segment, as adjusted	$	0.21		0.32		(35.2	%)		1.11		1.28		(13.5	%)

Notes:
nm	= not meaningful

Synovus believes that the above non-GAAP financial measures provide meaningful information to assist investors in understanding Synovus’ financial results, exclusive of items that management believes are not reflective of its operating results. The non-GAAP measures should

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

Synovus Reports Earnings per Share of $1.60 for 2007/p. 4

not be considered by themselves or as a substitute for the GAAP measures. The non-GAAP measures should be considered as an additional view of the way Synovus’ financial measures are affected by the non-recurring spin-off related expenses, Visa litigation expenses, and the Bank of America termination fee; and should be used in conjunction with all publicly filed GAAP financial statements and reports.

Synovus will host an earnings highlights conference call at 4:30 pm EDT, on January 24, 2008. Shareholders and other interested persons may 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 (NYSE: “SNV”) is a financial services holding company with $33 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 37 banks, 440 ATMs, and other Synovus offices 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 the delivery of unparalleled customer experiences. See Synovus on the Web at www.synovus.com.

This press release may 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. 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. 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.

###

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

EX-99.2

Exhibit 99.2

Synovus 5 of 10

INCOME STATEMENT DATA	Twelve Months Ended
(Unaudited)	December 31,
(In thousands, except per share data)	2007			2006			Change
Interest income (taxable equivalent)	$	2,243,463			2,022,257			10.9	%
Interest expense		1,089,456			890,677			22.3
Net interest income (taxable equivalent)		1,154,007			1,131,580			2.0
Tax equivalent adjustment		5,059			5,791			(12.6	)
Net interest income		1,148,948			1,125,789			2.1
Provision for loan losses		170,208			75,148			126.5
Net interest income after provision		978,740			1,050,641			(6.8	)
Non-interest income:
Service charges on deposits		112,142			112,417			(0.2	)
Fiduciary and asset management fees		50,761			48,627			4.4
Brokerage and investment banking revenue		31,980			26,729			19.6
Mortgage banking income		27,006			29,255			(7.7	)
Bankcard fees		47,770			44,303			7.8
Securities gains (losses)		980			(2,118	)	nm
Other fee income		39,307			38,743			1.5
Other non-interest income		79,082			61,474			28.6
Total non-interest income		389,028			359,430			8.2
Non-interest expense:
Personnel expense		455,158			450,373			1.1
Occupancy and equipment expense		112,888			100,270			12.6
Other non-interest expense		235,248			213,890			10.0
Visa litigation expense		36,800			—		nm
Total non-interest expense		840,094			764,533			9.9
Income from continuing operations before income taxes		527,674			645,538			(18.3	)
Income taxes		184,739			230,435			(19.8	)
Income from continuing operations		342,935			415,103			(17.4	)
Income from discontinued operations, net of income taxes and minority interest (1)		183,370			201,814			(9.1	)
Net income	$	526,305			616,917			(14.7	)
Basic earnings per share
Income from continuing operations	$	1.05			1.29			(18.8	)%
Net income		1.61			1.92			(16.2	)
Diluted earnings per share
Income from continuing operations		1.04			1.28			(18.8	)
Net income		1.60			1.90			(16.1	)
Cash dividends declared per share		0.82			0.78			5.1
Return on average assets		1.60	%		2.07		(47)bp
Return on average equity		13.37			18.31			(494	)
Average shares outstanding — basic		326,849			321,241			1.7	%
Average shares outstanding — diluted		329,863			324,232			1.7

bp	- change is measured as difference in basis points.
nm	- not meaningful
(1)	On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with the provisions of Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” and SFAS No. 146, “ Accounting for Costs Associated with Exit or Disposal Activities,” the current period and historical consolidated results of operations of TSYS, as well as all costs recorded by Synovus Financial Corp. associated with the spin-off of TSYS, are now presented as a discontinued operation. Additionally, 2007 discontinued operations includes a second quarter $4.2 million after-tax gain related to the transfer of Synovus’ proprietary mutual funds to a non-affiliated third party.

Synovus 6 of 10

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

	2007									2006		4th Quarter
	Fourth			Third		Second		First		Fourth		‘07 vs. ‘06
	Quarter			Quarter		Quarter		Quarter		Quarter		Change
Interest income (taxable equivalent)	$	554,989			573,545		565,777		549,243		547,079		1.4	%
Interest expense		267,102			281,478		276,017		264,950		256,760		4.0
Net interest income (taxable equivalent)		287,887			292,067		289,760		284,293		290,319		(0.8	)
Tax equivalent adjustment		1,202			1,228		1,285		1,344		1,448		(17.0	)
Net interest income		286,685			290,839		288,475		282,949		288,871		(0.8	)
Provision for loan losses		70,642			58,770		20,281		20,515		18,675		278.3
Net interest income after provision		216,043			232,069		268,194		262,434		270,196		(20.0	)
Non-interest income:
Service charges on deposits		28,985			28,736		28,050		26,370		28,136		3.0
Fiduciary and asset management fees		13,110			12,524		12,658		12,473		12,921		1.5
Brokerage and investment banking revenue		8,598			8,123		7,809		7,449		6,721		27.9
Mortgage banking income		6,130			5,955		7,695		7,226		6,837		(10.3	)
Bankcard fees		12,400			11,923		11,567		11,880		11,218		10.5
Securities gains (losses)		90			186		258		447		—	nm
Other fee income		9,559			9,910		10,411		9,427		9,079		5.3
Other non-interest income		20,126			28,837		17,883		12,231		22,682		(11.3	)
Total non-interest income		98,998			106,194		96,331		87,503		97,594		1.4
Non-interest expense:
Personnel expense		109,468			115,941		115,822		113,927		115,130		(4.9	)
Occupancy and equipment expense		29,976			28,055		27,572		27,290		26,370		13.7
Other non-interest expense		70,965			56,429		54,267		53,580		61,930		14.6
Visa litigation expense		24,800			12,000		—		—		—	nm
Total non-interest expense		235,209			212,425		197,661		194,797		203,430		15.6
Income from continuing operations before income taxes		79,832			125,838		166,864		155,140		164,360		(51.4	)
Income taxes		26,690			42,261		61,055		54,733		59,384		(55.1	)
Income from continuing operations		53,142			83,577		105,809		100,407		104,976		(49.4	)
Income from discontinued operations, net of income taxes and minority interest (1)		28,717			51,366		56,941		46,346		70,571		(59.3	)
Net income	$	81,859			134,943		162,750		146,753		175,547		(53.4	)
Basic earnings per share
Income from continuing operations	$	0.16			0.26		0.32		0.31		0.32		(49.9	)%
Net income		0.25			0.41		0.50		0.45		0.54		(53.9	)
Diluted earnings per share
Income from continuing operations		0.16			0.25		0.32		0.30		0.32		(49.6	)
Net income		0.25			0.41		0.49		0.45		0.54		(53.6	)
Cash dividends declared per share		0.21			0.21		0.21		0.21		0.20		5.1
Return on average assets *		0.96	%		1.70		2.00		1.86		2.22	(126		)bp
Return on average equity *		7.97			14.02		16.69		15.94		19.03		(1,106	)
Average shares outstanding - basic		328,052			327,215		326,410		325,687		324,555		1.1	%
Average shares outstanding - diluted		329,453			330,160		330,263		329,573		328,122		0.4

bp	—	change is measured as difference in basis points.
nm	—	not meaningful
*	—	ratios are annualized
(1)		On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with the provisions of Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” and SFAS No. 146, “Accounting for Costs Associated with Exit or Disposal Activities,” the current period and historical consolidated results of operations of TSYS, as well as all costs recorded by Synovus Financial Corp. associated with the spin-off of TSYS, are now presented as a discontinued operation. Additionally, discontinued operations for the three months ended June 30, 2007 includes a $4.2 million after-tax gain related to the transfer of Synovus’ proprietary mutual funds to a non-affiliated third party.

Synovus 7 of 10

BALANCE SHEET DATA

(Unaudited)
(In thousands, except share data)

	December 31, 2007			September 30, 2007			December 31, 2006
ASSETS
Cash and due from banks	$	682,583			642,882			713,053
Interest earning deposits with banks		10,950			4,318			19,315
Federal funds sold and securities purchased under resale agreements		76,086			113,654			101,091
Trading account assets		17,803			33,009			15,266
Mortgage loans held for sale		153,437			165,837			175,042
Investment securities available for sale		3,666,974			3,628,766			3,352,357
Loans, net of unearned income		26,498,585			25,774,656			24,654,552
Allowance for loan losses		(367,613	)		(356,887	)		(314,459	)
Loans, net		26,130,972			25,417,769			24,340,093
Premises and equipment, net		547,437			527,415			481,415
Goodwill, net		519,138			519,138			515,719
Other intangible assets, net		28,007			29,945			29,117
Other assets		1,067,893			1,002,259			720,870
Assets of discontinued operation (1)		—			1,490,671			1,391,435
Total assets	$	32,901,280			33,575,663			31,854,773
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing retail and commercial deposits	$	3,472,423			3,566,749			3,768,775
Interest bearing retail and commercial deposits		18,199,997			18,196,568			17,745,204
Total retail and commercial deposits		21,672,420			21,763,317			21,513,979
Brokered time deposits		3,287,396			2,872,979			3,014,495
Total deposits		24,959,816			24,636,296			24,528,474
Federal funds purchased and other short-term liabilities		2,319,412			2,581,088			1,582,487
Long-term debt		1,890,235			1,680,478			1,343,358
Other liabilities		293,253			282,360			320,861
Liabilities of and minority interest in discontinued operation (1)		—			341,085			370,943
Total liabilities		29,462,716			29,521,307			28,146,123
Shareholders’ equity:
Common stock, par value $1.00 a share (2)		335,529			334,095			331,214
Additional paid-in capital		1,098,184			1,107,653			1,033,055
Treasury stock (3)		(113,944	)		(113,944	)		(113,944	)
Accumulated other comprehensive income (loss)		31,439			23,339			(2,129	)
Retained earnings		2,087,356			2,703,213			2,460,454
Total shareholders’ equity (4)		3,438,564			4,054,356			3,708,650
Total liabilities and shareholders’ equity	$	32,901,280			33,575,663			31,854,773

(1)	On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” all prior period assets and liabilities of TSYS are presented as a discontinued operation.
(2)	Common shares outstanding: 329,867,944; 328,433,944 and 325,552,375 at December 31, 2007, September 30, 2007, and December 31, 2006, respectively.
(3)	Treasury shares: 5,661,538 at December 31, 2007, September 30, 2007, and December 31, 2006.
(4)	Book value per share: $10.42 ; $12.34; and $11.39 at December 31, 2007, September 30, 2007, and December 31, 2006, respectively.

Synovus 8 of 10

AVERAGE BALANCES AND YIELDS/RATES *
(Unaudited)
(Dollars in thousands)

	2007												2006			Twelve months ended
	Fourth			Third			Second			First			Fourth			December 31,
	Quarter			Quarter			Quarter			Quarter			Quarter			2007			2006
Interest Earning Assets
Taxable Investment Securities	$	3,496,843			3,495,017			3,420,831			3,301,137			3,178,852		$	3,429,175			3,009,962
Yield		4.90	%		4.82			4.83			4.77			4.51			4.83	%		4.31
Tax-Exempt Investment Securities	$	164,587			170,211			178,183			185,012			193,737		$	174,431			198,692
Yield (taxable equivalent)		6.82	%		6.72			6.75			6.84			6.93			6.77	%		6.79
Trading Account Assets	$	29,698			56,217			59,311			64,204			34,471		$	52,274			43,201
Yield		7.05	%		7.15			6.47			5.65			6.67			6.45	%		6.14
Commercial Loans	$	22,157,460			21,820,687			21,739,107			21,242,921			20,791,108		$	21,742,770			19,828,160
Yield		7.69	%		8.13			8.20			8.24			8.25			8.06	%		8.03
Consumer Loans	$	928,942			915,847			896,267			928,256			928,521		$	917,326			903,218
Yield		8.05	%		8.17			8.14			8.01			7.98			8.09	%		7.89
Mortgage Loans	$	1,237,962			1,152,621			1,110,754			1,081,760			1,089,794		$	1,146,221			1,073,296
Yield		7.04	%		7.10			7.03			6.98			6.99			7.04	%		6.86
Credit Card Loans	$	285,410			277,445			275,105			270,444			268,705		$	277,143			263,549
Yield		10.26	%		10.96			10.64			11.17			10.89			10.75	%		10.85
Home Equity Loans	$	1,517,510			1,444,411			1,407,005			1,385,012			1,316,842		$	1,438,864			1,247,715
Yield		7.34	%		7.80			7.82			7.68			7.82			7.66	%		7.70
Allowance for Loan Losses	$	(357,283	)		(335,406	)		(329,028	)		(317,977	)		(317,603	)	$	(335,033	)		(309,658	)
Loans, Net	$	25,770,001			25,275,605			25,099,210			24,590,416			24,077,367		$	25,187,291			23,006,280
Yield		7.79	%		8.21			8.26			8.28			8.29			8.13	%		8.09
Mortgage Loans Held for Sale	$	108,044			176,448			163,364			160,482			149,113		$	152,007			132,332
Yield		6.12	%		6.91			6.18			6.07			6.02			6.36	%		6.54
Federal Funds Sold and Other Short-Term Investments	$	110,745			85,094			131,029			147,857			120,729		$	118,488			132,566
Yield		4.63	%		5.76			5.37			5.55			5.33			5.30	%		5.06
Total Interest Earning Assets	$	29,679,918			29,258,592			29,051,928			28,449,108			27,754,269		$	29,113,665			26,523,033
Yield		7.42	%		7.78			7.81			7.82			7.83			7.71	%		7.62
Interest Bearing Liabilities
Interest Bearing Demand Deposits	$	3,200,408			3,047,279			3,141,899			3,113,531			3,034,375		$	3,125,802			3,006,308
Rate		1.99	%		2.24			2.28			2.30			2.18			2.20	%		1.92
Money Market Accounts	$	7,969,409			7,898,277			7,644,253			7,336,524			7,158,672		$	7,714,360			6,515,079
Rate		3.98	%		4.45			4.51			4.51			4.47			4.36	%		4.14
Savings Deposits	$	454,204			479,479			497,422			502,948			514,317		$	483,368			542,793
Rate		0.35	%		0.48			0.57			0.68			0.72			0.52	%		0.65
Time Deposits Under $100,000	$	2,790,869			2,917,089			3,020,881			3,037,815			3,003,141		$	2,940,920			2,791,759
Rate		4.69	%		4.81			4.85			4.79			4.64			4.78	%		4.15
Time Deposits Over $100,000 (less brokered time deposits)	$	4,006,351			4,029,091			4,118,221			4,101,471			3,997,493		$	4,063,428			3,549,200
Rate		4.98	%		5.12			5.19			5.15			5.08			5.11	%		4.66
Total Interest Bearing Core Deposits		18,421,240			18,371,215			18,422,676			18,092,289			17,707,998		$	18,327,878			16,405,139
Rate		3.87	%		4.19			4.23			4.22			4.14			4.12	%		3.73
Brokered Time Deposits	$	2,941,592			3,188,310			3,175,161			3,030,793			3,137,889		$	3,084,006			2,855,191
Rate		4.98	%		5.19			5.05			5.08			5.01			5.08	%		4.70
Total Interest Bearing Deposits	$	21,362,832			21,559,525			21,597,837			21,123,082			20,845,887		$	21,411,884			19,260,330
Rate		4.02	%		4.33			4.35			4.34			4.27			4.26	%		3.88
Federal Funds Purchased and Other Short-Term Liabilities	$	2,472,339			1,930,598			1,720,535			1,700,304			1,295,379		$	1,957,990			1,578,163
Rate		4.37	%		4.84			4.96			4.86			4.70			4.68	%		4.56
Long-Term Debt	$	1,819,198			1,660,788			1,552,310			1,441,241			1,356,451		$	1,619,536			1,515,306
Rate		5.08	%		5.32			5.18			5.07			4.91			5.12	%		4.62
Total Interest Bearing Liabilities	$	25,654,369			25,150,911			24,870,682			24,264,627			23,497,717		$	24,989,409			22,353,799
Rate		4.12	%		4.43			4.44			4.42			4.33			4.35	%		3.98
Non-Interest Bearing Demand Deposits	$	3,422,684			3,405,622			3,428,246			3,381,056			3,486,641		$	3,409,506			3,518,312
Net Interest Margin		3.86	%		3.97			4.00			4.05			4.16			3.97	%		4.27

*

Yields and rates are annualized.

(1)

On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with the provisions of Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” the current period and historical consolidated results of operations, assets, and liabilities of TSYS are now presented as a discontinued operation. Accordingly, the above earning assets, liabilities, yields, and cost of funds exclude the amounts related to TSYS due to the de-consolidation of TSYS.

9 of 10

Synovus

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

	December 31, 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	$	465,281			1.8	%	$	1,510		0.5	%
Hotels		614,979			2.3			—		—
Office Buildings		953,753			3.6			6,252		1.8
Shopping Centers		836,092			3.2			744		0.2
Commercial Development		963,526			3.6			7,760		2.3
Other Investment Property		685,846			2.6			4,244		1.3
Total Investment Properties		4,519,477			17.1			20,510		6.1
1-4 Family Construction		2,238,925			8.4			105,329		30.8
1-4 Family Perm / Mini-Perm		1,267,451			4.8			34,201		10.0
Residential Development		2,311,459			8.7			79,828		23.3
Total 1-4 Family Properties		5,817,835			21.9			219,358		64.1
Land Acquisition		1,545,933			5.8			35,699		10.4
Total Commercial Real Estate		11,883,245			44.8			275,567		80.6
Commercial , Financial, and Agricultural		6,424,499			24.2			41,808		12.2
Owner-Occupied		4,239,639			16.0			12,091		3.6
Total Commercial & Industrial		10,664,138			40.2			53,899		15.8
Home Equity		1,543,701			5.8			3,892		1.1
Consumer Mortgages		1,667,924			6.3			6,983		2.0
Credit Card		291,149			1.1			—		—
Other Retail Loans		494,591			1.9			1,741		0.5
Total Retail		3,997,365			15.1			12,616		3.6
Unearned Income		(46,163	)		(0.1	)		—		—
Total	$	26,498,585			100.0	%	$	342,082		100.0	%

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

	Total Loans						4Q07 vs. 3Q07						4Q07 vs. 4Q06
Loan Type	December 31, 2007			September 30, 2007			% change (1)			December 31, 2006			% change
Multi-Family	$	465,281			449,814			13.6	%	$	505,586			(8.0	)%
Hotels		614,979			591,527			15.7			643,180			(4.4	)
Office Buildings		953,753			881,138			32.7			881,658			8.2
Shopping Centers		836,092			739,334			51.9			764,924			9.3
Commercial Development		963,526			937,367			11.1			876,570			9.9
Other Investment Property		685,846			652,408			20.3			461,963			48.5
Total Investment Properties		4,519,477			4,251,588			25.0			4,133,881			9.3
1-4 Family Construction		2,238,925			2,302,842			(11.0	)		2,347,025			(4.6	)
1-4 Family Perm / Mini-Perm		1,267,451			1,219,577			15.6			1,193,895			6.2
Residential Development		2,311,459			2,269,844			7.3			2,036,207			13.5
Total 1-4 Family Properties		5,817,835			5,792,263			1.8			5,577,127			4.3
Land Acquisition		1,545,933			1,476,042			18.8			1,402,402			10.2
Total Commercial Real Estate		11,883,245			11,519,893			12.5			11,113,410			6.9
Commercial , Financial, and Agricultural		6,424,499			6,268,524			9.9			5,874,204			9.4
Owner-Occupied		4,239,639			4,166,683			6.9			4,054,728			4.6
Total Commercial & Industrial		10,664,138			10,435,207			8.7			9,928,932			7.4
Home Equity		1,543,701			1,478,694			17.4			1,364,030			13.2
Consumer Mortgages		1,667,924			1,620,730			11.6			1,517,849			9.9
Credit Card		291,149			280,192			15.5			276,269			5.4
Other Retail Loans		494,591			485,928			7.1			500,757			(1.2	)
Total Retail		3,997,365			3,865,544			13.5			3,658,905			9.3
Unearned Income		(46,163	)		(45,988	)		1.5			(46,695	)		(1.1	)
Total	$	26,498,585			25,774,656			11.1	%	$	24,654,552			7.5	%

(1) Percentage change is annualized.

Synovus	10 of 10
CREDIT QUALITY DATA
(Unaudited) (Dollars in thousands)

	2007									2006		4th Quarter
	Fourth			Third		Second		First		Fourth		‘07 vs. ‘06
	Quarter			Quarter		Quarter		Quarter		Quarter		Change
Nonperforming Loans	$	342,082			224,055		180,776		138,790		96,622		254.0	%
Other Real Estate		101,487			76,514		41,259		31,710		25,923		291.4
Nonperforming Assets		443,569			300,569		222,035		170,500		122,545		261.9
Allowance for Loan Losses		367,613			356,887		331,130		326,826		314,459		16.9
Net Charge-Offs — Quarter		59,916			33,013		15,978		8,148		24,190		147.7
Net Charge-Offs — YTD		117,055			57,139		24,126		8,148		60,217		94.4
Net Charge-Offs / Average Loans — Quarter		0.91	%		0.51		0.25		0.13		0.39
Net Charge-Offs / Average Loans — YTD		0.46			0.30		0.19		0.13		0.26
Nonperforming Loans / Loans & ORE		1.29			0.87		0.71		0.55		0.39
Nonperforming Assets / Loans & ORE		1.67			1.16		0.87		0.68		0.50
Allowance / Loans		1.39			1.38		1.30		1.30		1.28
Allowance / Nonperforming Loans		107.46			159.29		183.17		235.48		325.45
Allowance / Nonperforming Assets		82.88			118.74		149.13		191.69		256.61
Past Due Loans over 90 days		33,663			22,667		23,067		27,414		34,495		(2.4	)%
As a Percentage of Loans Outstanding		0.13			0.09		0.09		0.11		0.14
Total Past Dues		270,496			230,035		164,180		150,188		155,058		74.4
As a Percentage of Loans Outstanding		1.02			0.89		0.64		0.60		0.63

REGULATORY CAPITAL RATIOS (1)
(Unaudited)
(Dollars in thousands)

	December 31, 2007			September 30, 2007		December 31, 2006
Tier 1 Capital	$	2,867,720			3,615,522		3,254,603
Total Risk-Based Capital		3,985,344			4,722,409		4,319,062
Tier 1 Capital Ratio		9.10	%		11.42		10.87
Total Risk-Based Capital Ratio		12.64			14.92		14.43
Leverage Ratio		8.65			11.16		10.64

(1) December 31, 2007 information is preliminary.