EX-99.2 3 d246892dex992.htm SUPPLEMENTAL INFORMATION PREPARED FOR USE WITH THE PRESS RELEASE Supplemental Information prepared for use with the press release

Exhibit 99.2

Synovus

INCOME STATEMENT DATA

(Unaudited)

(Dollars in thousands, except per share data)

 

     Nine Months Ended
September 30,
 
     2011     2010     Change  

Interest income

   $ 868,453        1,007,024        (13.8 )% 

Interest expense

     171,455        262,658        (34.7
  

 

 

   

 

 

   

 

 

 

Net interest income

     696,998        744,366        (6.4

Provision for losses on loans

     364,230        878,872        (58.6
  

 

 

   

 

 

   

 

 

 

Net interest income (expense) after provision for losses on loans

     332,768        (134,506     347.4   
  

 

 

   

 

 

   

 

 

 

Non-interest income:

      

Service charges on deposit accounts

     59,595        80,867        (26.3

Fiduciary and asset management fees

     35,046        33,103        5.9   

Brokerage revenue

     19,067        19,435        (1.9

Mortgage revenue

     15,469        22,295        (30.6

Bankcard fees

     34,344        29,989        14.5   

Investment securities gains (losses), net

     64,670        (1,043     nm   

Other fee income

     15,643        16,372        (4.5

(Decrease) increase in fair value of private equity investments, net

     (941     5,703        nm   

Other non-interest income

     22,512        18,735        20.2   
  

 

 

   

 

 

   

 

 

 

Total non-interest income

     265,405        225,456        17.7   
  

 

 

   

 

 

   

 

 

 

Non-interest expense:

      

Salaries and other personnel expense

     278,033        313,885        (11.4

Net occupancy and equipment expense

     86,698        91,877        (5.6

FDIC insurance and other regulatory fees

     45,826        52,794        (13.2

Foreclosed real estate expense

     101,716        142,837        (28.8

(Gains) losses on other loans held for sale, net

     (2,591     73        nm   

Professional fees

     30,264        33,399        (9.4

Data processing expense

     27,225        33,123        (17.8

Restructuring charges

     30,026        3,420        nm   

Loss on curtailment of post-retirement defined benefit plan

     398        —          nm   

Other operating expenses

     87,088        109,162        (20.2
  

 

 

   

 

 

   

 

 

 

Total non-interest expense

     684,683        780,570        (12.3
  

 

 

   

 

 

   

 

 

 

Loss from continuing operations before income taxes

     (86,510     (689,620     87.5   

Income tax expense (benefit)

     1,690        (21,034     nm   
  

 

 

   

 

 

   

 

 

 

Loss from continuing operations

     (88,200     (668,586     86.8   

Income from discontinued operations, net of income taxes

     —          43,162        nm   
  

 

 

   

 

 

   

 

 

 

Net loss

     (88,200     (625,424     85.9   

Net loss attributable to non-controlling interest

     (220     (313     29.7   
  

 

 

   

 

 

   

 

 

 

Net loss attributable to controlling interest

     (87,980     (625,111     85.9   
  

 

 

   

 

 

   

 

 

 

Dividends and accretion of discount on preferred stock

     43,510        43,079        1.0   
  

 

 

   

 

 

   

 

 

 

Net loss attributable to common shareholders

   $ (131,490     (668,190     80.3   
  

 

 

   

 

 

   

 

 

 

Basic EPS

      

Net loss from continuing operations attributable to common shareholders

   $ (0.17     (1.09     84.4

Net loss attributable to common shareholders

     (0.17     (1.03     83.5   

Diluted EPS

      

Net loss from continuing operations attributable to common shareholders

     (0.17     (1.09     84.4   

Net loss attributable to common shareholders

     (0.17     (1.03     83.5   

Cash dividends declared per common share

     0.03        0.03        —     

Return on average assets *

     (0.41 ) %      (2.77     236  bp 

Return on average common equity *

     (8.85     (43.50     nm   

Average common shares outstanding - basic

     785,267        651,507        20.5

Average common shares outstanding - diluted

     785,267        651,507        20.5   

nm - not meaningful

* - ratios are annualized


Synovus

INCOME STATEMENT DATA

(Unaudited)

(Dollars in thousands, except per share data)

 

     2011     2010     3rd Quarter  
     Third
Quarter
    Second
Quarter
    First
Quarter
    Fourth
Quarter
    Third
Quarter
    ’11 vs. ’10
Change
 

Interest income

   $ 281,970        288,052        298,432        313,557        326,490        (13.6 )% 

Interest expense

     53,367        57,091        60,998        71,590        81,030        (34.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     228,603        230,961        237,434        241,967        245,460        (6.9

Provision for losses on loans

     102,325        120,159        141,746        252,401        239,020        (57.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income (expense) after provision for losses on loans

     126,278        110,802        95,688        (10,434     6,440        nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest income:

            

Service charges on deposit accounts

     20,039        19,238        20,318        24,248        26,711        (25.0

Fiduciary and asset management fees

     11,631        11,879        11,537        11,039        10,408        11.8   

Brokerage revenue

     6,556        6,291        6,220        8,750        6,736        (2.7

Mortgage revenue

     7,427        5,547        2,495        11,039        10,163        (26.9

Bankcard fees

     11,562        12,125        10,657        11,431        10,674        8.3   

Investment securities gains (losses), net

     62,873        377        1,420        (228     (612     nm   

Other fee income

     5,423        5,289        4,931        4,757        5,440        (0.3

(Decrease) increase in fair value of private equity investments, net

     (771     (301     132        1,500        3,521        nm   

Other non-interest income

     8,652        7,404        6,454        7,354        8,723        (0.8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest income

     133,392        67,849        64,164        79,890        81,764        63.1   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest expense:

            

Salaries and other personnel expense

     93,184        91,749        93,100        104,744        105,933        (12.0

Net occupancy and equipment expense

     27,981        28,883        29,834        30,169        31,311        (10.6

FDIC insurance and other regulatory fees

     15,463        15,956        14,406        16,686        16,178        (4.4

Foreclosed real estate expense

     37,108        39,872        24,737        20,793        50,890        (27.1

(Gains) losses on other loans held for sale, net

     (846     480        (2,226     2,976        —          nm   

Professional fees

     10,135        10,893        9,236        12,154        12,424        (18.4

Data processing expense

     9,024        9,251        8,950        12,355        11,117        (18.8

Restructuring charges

     2,587        3,106        24,333        2,118        3,420        (24.4

Loss (gain) on curtailment of post-retirement defined benefit plan

     —          —          398        (7,092     —          nm   

Other operating expenses

     27,916        22,225        36,948        34,103        37,738        (26.0
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest expense

     222,552        222,415        239,716        229,006        269,011        (17.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes

     37,118        (43,764     (79,864     (159,550     (180,807     nm   

Income tax expense (benefit)

     6,910        (4,764     (456     5,884        360        nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     30,208        (39,000     (79,408     (165,434     (181,167     nm   

Net (loss) income attributable to non-controlling interest

     —          —          (220     134        277        nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available to controlling interest

     30,208        (39,000     (79,188     (165,568     (181,444     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and accretion of discount on preferred stock

     14,541        14,504        14,466        14,430        14,394        1.0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ 15,667        (53,504     (93,654     (179,998     (195,838     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic EPS

            

Net income (loss) available to common shareholders

     0.02        (0.07     (0.12     (0.23     (0.25     nm   

Diluted EPS

            

Net income (loss) available to common shareholders

     0.02        (0.07     (0.12     (0.23     (0.25     nm   

Cash dividends declared per common share

     0.01        0.01        0.01        0.01        0.01        —     

Return on average assets *

     0.42     (0.55 )%      (1.09 )%      (2.12 ) %      (2.27     nm  bp 

Return on average common equity *

     3.20        (10.95     (18.46     (31.80     (31.75     nm   

Average common shares outstanding - basic

     785,280        785,277        785,243        785,122        784,916        0.0

Average common shares outstanding - diluted

     910,816        785,277        785,243        785,122        784,916        16.0   

nm - not meaningful

* - ratios are annualized


Synovus

BALANCE SHEET DATA

(Unaudited)

(In thousands, except share data)

 

      September 30, 2011     December 31, 2010     September 30, 2010  

ASSETS

      

Cash and due from banks

   $ 452,034        389,021        385,687   

Interest bearing funds with Federal Reserve Bank

     2,750,953        3,103,896        3,113,435   

Interest earning deposits with banks

     21,560        16,446        22,271   

Federal funds sold and securities purchased under resale agreements

     189,304        160,502        177,350   

Trading account assets, at fair value

     17,467        22,294        15,061   

Mortgage loans held for sale, at fair value

     125,379        232,839        241,353   

Other loans held for sale

     53,074        127,365        50,302   

Investment securities available for sale, at fair value

     3,596,511        3,440,268        3,326,133   

Loans, net of unearned income

     20,102,086        21,585,763        22,581,036   

Allowance for loan losses

     (595,383     (703,547     (836,355
  

 

 

   

 

 

   

 

 

 

Loans, net

     19,506,703        20,882,216        21,744,681   
  

 

 

   

 

 

   

 

 

 

Premises and equipment, net

     488,074        544,971        555,919   

Goodwill

     24,431        24,431        24,431   

Other intangible assets, net

     9,482        12,434        13,463   

Other assets

     1,018,952        1,136,465        1,284,675   
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 28,253,924        30,093,148        30,954,761   
  

 

 

   

 

 

   

 

 

 

LIABILITIES AND EQUITY

      

Liabilities:

      

Deposits:

      

Non-interest bearing deposits

   $ 5,249,335        4,298,372        4,248,071   

Interest bearing deposits, excluding brokered deposits

     15,702,461        17,049,583        17,438,979   

Brokered deposits

     2,157,631        3,152,349        3,549,175   
  

 

 

   

 

 

   

 

 

 

Total deposits

     23,109,427        24,500,304        25,236,225   

Federal funds purchased and other short-term borrowings

     328,806        499,226        410,353   

Long-term debt

     1,522,334        1,808,161        1,743,097   

Other liabilities

     463,909        260,910        324,077   
  

 

 

   

 

 

   

 

 

 

Total liabilities

     25,424,476        27,068,601        27,713,752   
  

 

 

   

 

 

   

 

 

 

Equity:

      

Shareholders’ equity:

      

Cumulative perpetual preferred stock, no par value (1)

     944,538        937,323        934,991   

Common stock, par value $1.00 (2)

     790,974        790,956        790,751   

Additional paid-in capital

     2,254,068        2,293,264        2,306,578   

Treasury stock, at cost (3)

     (114,176     (114,176     (114,176

Accumulated other comprehensive income

     32,189        57,158        91,112   

Accumulated deficit

     (1,078,145     (966,607     (793,190
  

 

 

   

 

 

   

 

 

 

Total shareholders’ equity

     2,829,448        2,997,918        3,216,066   

Non-controlling interest in subsidiaries

     —          26,629        24,943   
  

 

 

   

 

 

   

 

 

 

Total equity

     2,829,448        3,024,547        3,241,009   
  

 

 

   

 

 

   

 

 

 

Total liabilities and equity

   $ 28,253,924        30,093,148        30,954,761   
  

 

 

   

 

 

   

 

 

 

 

(1) Preferred shares outstanding: 967,870, at all periods presented
(2) Common shares outstanding: 785,280,277; 785,262,837; and 785,057,350 at September 30, 2011 December 31, 2010, and September 30, 2010, respectively.
(3) Treasury shares: 5,693,452, at all periods presented


Synovus

AVERAGE BALANCES AND YIELDS/RATES (1)

(Unaudited)

(Dollars in thousands)

 

     2011     2010  
     Third
Quarter
    Second
Quarter
    First
Quarter
    Fourth
Quarter
    Third
Quarter
 

Interest Earning Assets

                              

Taxable investment securities (2)

   $ 3,152,589        3,172,818        3,264,581        3,104,004        3,055,400   

Yield

     3.28     3.46        3.56        3.76        4.08   

Tax-exempt investment securities (2)

   $ 27,903        31,264        44,228        51,400        62,659   

Yield (taxable equivalent)

     6.66     6.73        6.84        7.16        6.82   

Trading account assets

   $ 14,601        16,881        20,281        16,037        14,970   

Yield

     5.76     5.27        5.13        5.86        4.88   

Commercial loans (3)

   $ 16,535,371        16,983,912        17,555,733        18,315,882        19,041,500   

Yield

     4.88     4.92        4.98        4.90        4.92   

Consumer loans (3)

   $ 3,869,698        3,879,042        3,914,222        3,988,849        4,048,929   

Yield

     5.06     5.10        5.25        5.22        5.25   

Allowance for loan losses

   $ (632,082     (678,851     (698,609     (819,176     (862,970
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loans, net (3)

   $ 19,772,987        20,184,103        20,771,346        21,485,555        22,227,459   

Yield

     5.09     5.14        5.21        5.16        5.19   

Mortgage loans held for sale

   $ 91,257        79,340        152,981        260,759        194,487   

Yield

     5.74     6.16        4.74        4.60        5.16   

Federal funds sold, due from Federal Reserve Bank, and other short-term investments

   $ 3,075,470        2,929,515        3,033,284        3,628,939        3,720,649   

Yield

     0.24     0.25        0.25        0.25        0.25   

Federal Home Loan Bank and Federal Reserve Bank stock (4)

   $ 96,442        104,727        111,096        113,341        122,356   

Yield

     0.90     0.87        0.90        0.59        0.87   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest earning assets

   $ 26,231,249        26,518,648        27,397,797        28,660,035        29,397,980   

Yield

     4.28     4.37        4.42        4.36        4.42   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest Bearing Liabilities

                              

Interest bearing demand deposits

   $ 3,302,439        3,379,243        3,526,730        3,864,106        3,601,825   

Rate

     0.30     0.32        0.33        0.33        0.36   

Money market accounts

   $ 6,636,751        6,306,399        6,550,623        6,874,367        6,788,768   

Rate

     0.73     0.77        0.76        0.84        0.98   

Savings deposits

   $ 521,604        520,518        493,504        484,460        488,221   

Rate

     0.13     0.14        0.14        0.14        0.14   

Time deposits under $100,000

   $ 2,131,453        2,124,525        2,212,215        2,383,411        2,511,830   

Rate

     1.27     1.38        1.53        1.74        1.88   

Time deposits over $100,000

   $ 2,912,476        2,978,929        3,291,202        3,859,235        4,217,972   

Rate

     1.49     1.57        1.65        1.77        1.88   

Brokered money market accounts

   $ 325,002        390,048        393,981        423,428        537,952   

Rate

     0.39     0.47        0.51        0.54        0.80   

Brokered time deposits

   $ 2,053,811        2,471,620        2,665,314        2,956,904        3,261,113   

Rate

     1.88     1.87        1.83        1.82        1.89   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest bearing deposits

   $ 17,883,536        18,171,282        19,133,569        20,845,911        21,407,681   

Rate

     0.95     1.01        1.05        1.14        1.28   

Federal funds purchased and other short-term liabilities

   $ 368,311        449,815        412,008        442,183        514,295   

Rate

     0.28     0.26        0.29        0.33        0.36   

Long-term debt

   $ 1,693,673        1,901,130        1,891,576        1,729,991        1,811,153   

Rate

     2.45     2.30        2.39        2.64        2.57   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest bearing liabilities

   $ 19,945,520        20,522,227        21,437,153        23,018,085        23,733,129   

Rate

     1.06     1.11        1.15        1.23        1.36   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest bearing demand deposits

   $ 5,175,521        4,911,044        4,821,237        4,433,849        4,310,459   

Net interest margin

     3.47     3.51        3.52        3.37        3.33   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Tax equivalent adjustment

   $ 880        893        964        968        1,087   

 

(1) Yields and rates are annualized and include tax equivalent adjustment.
(2) Excludes net unrealized gains and (losses).
(3) Average loans are shown net of unearned income. Non-performing loans are included.
(4) Included as a component of Other Assets on the balance sheet


Synovus

LOANS OUTSTANDING AND NON-PERFORMING LOANS COMPOSITION

(Unaudited)

(Dollars in thousands)

 

     September 30, 2011  

Loan Type

   Total Loans     Loans as a %
of Total Loans
Outstanding
    Total
Non-performing
Loans
     Non-performing Loans
as a % of Total
Nonperforming Loans
 

Multi-Family

   $ 752,638        3.7   $ 6,844         0.8

Hotels

     789,477        3.9        5,899         0.7   

Office Buildings

     791,441        3.9        17,077         2.0   

Shopping Centers

     1,001,547        5.0        19,312         2.2   

Commercial Development

     300,474        1.5        41,888         4.8   

Warehouses

     497,918        2.5        6,905         0.8   

Other Investment Property

     462,453        2.3        9,230         1.1   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Investment Properties

     4,595,948        22.8        107,155         12.4   
  

 

 

   

 

 

   

 

 

    

 

 

 

1-4 Family Construction

     221,900        1.1        21,119         2.4   

1-4 Family Investment Mortgage

     1,020,396        5.1        64,877         7.4   

Residential Development

     484,095        2.4        125,097         14.3   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total 1-4 Family Properties

     1,726,391        8.6        211,093         24.1   
  

 

 

   

 

 

   

 

 

    

 

 

 

Land Acquisition

     1,119,947        5.6        231,638         26.5   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial Real Estate

     7,442,286        37.0        549,886         63.0   
  

 

 

   

 

 

   

 

 

    

 

 

 

Commercial , Financial, and Agricultural

     4,901,492        24.4        154,235         17.7   

Owner-Occupied Real Estate

     3,911,614        19.5        86,897         10.0   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial & Industrial

     8,813,106        43.9        241,132         27.7   

Home Equity Lines

     1,612,798        8.0        24,305         2.8   

Consumer Mortgages

     1,426,024        7.1        51,137         5.9   

Credit Cards

     267,810        1.3        —           —     

Other Retail Loans

     550,106        2.7        5,614         0.6   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Retail

     3,856,738        19.1        81,056         9.3   

Unearned Income

     (10,044     nm        —           —     
  

 

 

   

 

 

   

 

 

    

 

 

 

Total

   $ 20,102,086        100.0   $ 872,074         100.0
  

 

 

   

 

 

   

 

 

    

 

 

 

LOANS OUTSTANDING BY TYPE COMPARISON

(Unaudited)

(Dollars in thousands)

 

     Total Loans     3Q11 vs. 2Q11     3Q11 vs. 4Q10     3Q11 vs. 3Q10  

Loan Type

   September 30, 2011     % change (1)     % change (1)     % change  

Multi-Family

   $ 752,638        (31.5 )%      (17.7     (14.9

Hotels

     789,477        (11.2     (11.8     (18.7

Office Buildings

     791,441        (3.3     (8.1     (9.5

Shopping Centers

     1,001,547        (12.8     (9.5     (13.5

Commercial Development

     300,474        (19.2     (28.3     (28.5

Warehouses

     497,918        (18.0     (7.7     (6.3

Other Investment Property

     462,453        (1.9     (8.9     (12.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Properties

     4,595,948        (14.1     (12.2     (14.4
  

 

 

   

 

 

   

 

 

   

 

 

 

1-4 Family Construction

     221,900        (44.9     (44.4     (46.8

1-4 Family Investment Mortgage

     1,020,396        (17.8     (12.7     (11.6

Residential Development

     484,095        (36.0     (33.1     (43.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Total 1-4 Family Properties

     1,726,391        (26.7     (23.9     (29.0
  

 

 

   

 

 

   

 

 

   

 

 

 

Land Acquisition

     1,119,947        (19.9     (10.8     (18.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial Real Estate

     7,442,286        (18.0     (15.0     (18.9
  

 

 

   

 

 

   

 

 

   

 

 

 

Commercial , Financial, and Agricultural

     4,901,492        (4.5     (9.3     (6.9

Owner-Occupied Real Estate

     3,911,614        2.4        (2.9     (5.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial & Industrial

     8,813,106        (1.5     (6.5     (6.2

Home Equity Lines

     1,612,798        0.1        (2.9     (3.5

Consumer Mortgages

     1,426,024        (6.8     (4.5     (6.0

Credit Cards

     267,810        (5.6     (8.1     (4.7

Other Retail Loans

     550,106        9.8        1.9        (0.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Retail

     3,856,738        (1.5     (3.2     (4.1

Unearned Income

     (10,044     56.8        (5.0     (23.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 20,102,086        (7.8 )%      (9.2     (11.0
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Percentage change is annualized.


Synovus

CREDIT QUALITY DATA

(Unaudited)

(Dollars in thousands)

 

     2011      2010      3rd Quarter  
     Third
Quarter
    Second
Quarter
     First
Quarter
     Fourth
Quarter
     Third
Quarter
     ’11 vs. ’10
Change
 

Non-performing Loans

   $ 872,074        885,236         895,726         891,622         1,294,031         (32.6 )% 

Other Loans Held for Sale (1)

     53,074        89,139         110,436         127,365         50,302         5.5   

Other Real Estate

     239,255        244,313         269,314         261,305         211,869         12.9   

Non-performing Assets

     1,164,403        1,218,688         1,275,476         1,280,292         1,556,202         (25.2

Allowance for Loan Losses

     595,383        631,401         678,426         703,547         836,355         (28.8

Net Charge-Offs - Quarter

     138,344        167,184         166,867         385,203         237,195         (41.7

Net Charge-Offs - YTD

     472,394        334,051         166,867         1,371,452         986,249         (52.1

Net Charge-Offs / Average Loans - Quarter (2)

     2.72     3.22         3.12         6.93         4.12      

Net Charge-Offs / Average Loans - YTD (2)

     3.03        3.17         3.12         5.82         5.47      

Non-performing Loans / Loans

     4.34        4.32         4.27         4.13         5.73      

Non-performing Assets / Loans, Other Loans Held for Sale & ORE

     5.71        5.85         5.97         5.83         6.81      

Allowance / Loans

     2.96        3.08         3.23         3.26         3.70      

Allowance / Non-performing Loans

     68.27        71.33         75.74         78.91         64.63      

Allowance / Non-performing Loans (3)

     145.12        161.55         176.08         192.60         177.98      

Past Due Loans over 90 days and Still Accruing

   $ 26,860        23,235         10,490         16,222         25,028         7.3

As a Percentage of Loans Outstanding

     0.13     0.11         0.05         0.08         0.11      

Total Past Dues Loans and Still Accruing

   $ 199,561        199,804         201,754         176,756         253,748         (21.4

As a Percentage of Loans Outstanding

     0.99     0.97         0.96         0.82         1.12      

Restructured loans (accruing)

   $ 640,324        551,603         545,416         464,123         409,768         56.3   

 

(1) Represent impaired loans that are intended to be sold. Held for sale loans are carried at the lower of cost or fair value, less costs to sell.
(2) Ratio is annualized.
(3) Excludes non-performing loans for which the expected loss has been charged off.

SELECTED CAPITAL INFORMATION (1)

(Unaudited)

(Dollars in thousands)

 

     September 30, 2011     December 31, 2010      September 30, 2010  

Tier 1 Capital

   $ 2,771,288        2,909,912         3,092,655   

Total Risk-Based Capital

     3,533,909        3,742,599         3,954,063   

Tier 1 Capital Ratio

     12.97     12.79         13.06   

Tier 1 Common Equity Ratio

     8.50        8.63         9.07   

Total Risk-Based Capital Ratio

     16.54        16.45         16.70   

Tier 1 Leverage Ratio

     9.87        9.44         9.80   

Common Equity as a Percentage of Total Assets (2)

     6.67        6.85         7.37   

Tangible Common Equity as a Percentage of Tangible Assets (3)

     6.56        6.73         7.26   

Tangible Common Equity as a Percentage of Risk Weighted Assets (3)

     8.66        8.90         9.47   

Book Value Per Common Share (4) (5)

     2.07        2.29         2.57   

Tangible Book Value Per Common Share (3) (5)

     2.03        2.25         2.53   

 

(1) Current quarter regulatory capital information is preliminary.
(2) Common equity consists of Total Shareholders’ Equity less Cumulative Perpetual Preferred 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 Shareholders’ Equity less Cumulative Perpetual Preferred Stock divided by total common shares outstanding.
(5) Equity and common shares exclude impact of unexercised tangible equity units (tMEDS).