EX-99.2 3 d287035dex992.htm SUPPLEMENTAL INFORMATION Supplemental Information

Exhibit 99.2

Synovus

INCOME STATEMENT DATA

(Unaudited)

(Dollars in thousands, except per share data)

 

     Twelve Months Ended
December 31,
 
     2011     2010     Change  

Interest income

   $ 1,141,756        1,320,581        (13.5 )% 

Interest expense

     217,602        334,248        (34.9
  

 

 

   

 

 

   

 

 

 

Net interest income

     924,154        986,333        (6.3

Provision for losses on loans

     418,795        1,131,274        (63.0
  

 

 

   

 

 

   

 

 

 

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

     505,359        (144,941     nm   
  

 

 

   

 

 

   

 

 

 

Non-interest income:

      

Service charges on deposit accounts

     78,770        105,114        (25.1

Fiduciary and asset management fees

     45,809        44,142        3.8   

Brokerage revenue

     26,006        28,184        (7.7

Mortgage revenue

     20,316        33,334        (39.1

Bankcard fees

     41,493        41,420        0.2   

Investment securities gains (losses), net

     75,007        (1,271     nm   

Other fee income

     19,953        21,129        (5.6

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

     (1,118     7,203        nm   

Other non-interest income

     32,638        26,092        25.1   
  

 

 

   

 

 

   

 

 

 

Total non-interest income

     338,874        305,347        11.0   
  

 

 

   

 

 

   

 

 

 

Non-interest expense:

      

Salaries and other personnel expense

     371,148        418,629        (11.3

Net occupancy and equipment expense

     114,037        122,046        (6.6

FDIC insurance and other regulatory fees

     59,063        69,480        (15.0

Foreclosed real estate expense

     133,570        163,630        (18.4

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

     (2,737     3,050        nm   

Professional fees

     40,585        45,554        (10.9

Data processing expense

     35,757        45,478        (21.4

Visa indemnification charge

     6,038        —          nm   

Restructuring charges

     30,665        5,538        nm   

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

     398        (7,092     nm   

Other operating expenses

     115,241        143,263        (19.6
  

 

 

   

 

 

   

 

 

 

Total non-interest expense

     903,765        1,009,576        (10.5
  

 

 

   

 

 

   

 

 

 

Loss from continuing operations before income taxes

     (59,532     (849,170     93.0   

Income tax expense (benefit)

     1,312        (15,151     nm   
  

 

 

   

 

 

   

 

 

 

Loss from continuing operations

     (60,844     (834,019     92.7   

Income from discontinued operations, net of income taxes

     —          43,162        nm   
  

 

 

   

 

 

   

 

 

 

Net loss

     (60,844     (790,857     92.3   

Net loss attributable to non-controlling interest

     (220     (179     (22.9
  

 

 

   

 

 

   

 

 

 

Net loss attributable to controlling interest

     (60,624     (790,678     92.3   
  

 

 

   

 

 

   

 

 

 

Dividends and accretion of discount on preferred stock

     58,088        57,510        1.0   
  

 

 

   

 

 

   

 

 

 

Net loss attributable to common shareholders

   $ (118,712     (848,188     86.0   
  

 

 

   

 

 

   

 

 

 

Basic EPS

      

Net loss from continuing operations attributable to common shareholders

   $ (0.151     (1.301     88.4

Net loss attributable to common shareholders

     (0.151     (1.238     87.8   

Diluted EPS

      

Net loss from continuing operations attributable to common shareholders

     (0.151     (1.301     88.4   

Net loss attributable to common shareholders

     (0.151     (1.238     87.8   

Cash dividends declared per common share

     0.04        0.04        —     

Return on average assets

     (0.21 )%      (2.61     240 bp   

Return on average common equity

     (6.04     (40.49     nm   

Average common shares outstanding - basic

     785,272        685,186        14.6

Average common shares outstanding - diluted

     785,272        685,186        14.6   

nm - not meaningful


Synovus

INCOME STATEMENT DATA

(Unaudited)

(Dollars in thousands, except per share data)

 

     2011     2010     4th Quarter  
     Fourth     Third     Second     First     Fourth     ‘11 vs. ‘10  
     Quarter     Quarter     Quarter     Quarter     Quarter     Change  

Interest income

   $ 273,303        281,970        288,052        298,432        313,557        (12.8 )% 

Interest expense

     46,147        53,367        57,091        60,998        71,590        (35.5
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     227,156        228,603        230,961        237,434        241,967        (6.1

Provision for losses on loans

     54,565        102,325        120,159        141,746        252,401        (78.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

     172,591        126,278        110,802        95,688        (10,434     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest income:

            

Service charges on deposit accounts

     19,175        20,039        19,238        20,318        24,248        (20.9

Fiduciary and asset management fees

     10,763        11,631        11,879        11,537        11,039        (2.5

Brokerage revenue

     6,939        6,556        6,291        6,220        8,750        (20.7

Mortgage revenue

     4,847        7,427        5,547        2,495        11,039        (56.1

Bankcard fees

     7,150        11,562        12,125        10,657        11,431        (37.5

Investment securities gains (losses), net

     10,337        62,873        377        1,420        (228     nm   

Other fee income

     4,310        5,423        5,289        4,931        4,757        (9.4

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

     (177     (771     (301     132        1,500        nm   

Other non-interest income

     10,126        8,652        7,404        6,454        7,354        37.7   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest income

     73,470        133,392        67,849        64,164        79,890        (8.0
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest expense:

            

Salaries and other personnel expense

     93,115        93,184        91,749        93,100        104,744        (11.1

Net occupancy and equipment expense

     27,338        27,981        28,883        29,834        30,169        (9.4

FDIC insurance and other regulatory fees

     13,238        15,463        15,956        14,406        16,686        (20.7

Foreclosed real estate expense

     31,853        37,108        39,872        24,737        20,793        53.2   

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

     (145     (846     480        (2,226     2,976        nm   

Professional fees

     10,321        10,135        10,893        9,236        12,154        (15.1

Data processing expense

     8,532        9,024        9,251        8,950        12,355        (30.9

Visa indemnification charge

     5,942        —          92        4        —          nm   

Restructuring charges

     639        2,587        3,106        24,333        2,118        (69.8

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

     —          —          —          398        (7,092     nm   

Other operating expenses

     28,249        27,916        22,133        36,944        34,103        (17.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest expense

     219,082        222,552        222,415        239,716        229,006        (4.3
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes

     26,979        37,118        (43,764     (79,864     (159,550     nm   

Income tax (benefit) expense

     (378     6,910        (4,764     (456     5,884        nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     27,357        30,208        (39,000     (79,408     (165,434     nm   

Net (loss) income attributable to non-controlling interest

     —          —          —          (220     134        nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available to controlling interest

     27,357        30,208        (39,000     (79,188     (165,568     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and accretion of discount on preferred stock

     14,578        14,541        14,504        14,466        14,430        1.0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ 12,779        15,667        (53,504     (93,654     (179,998     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic EPS

            

Net income (loss) available to common shareholders

     0.016        0.020        (0.068     (0.119     (0.229     nm   

Diluted EPS

            

Net income (loss) available to common shareholders

     0.014        0.017        (0.068     (0.119     (0.229     nm   

Cash dividends declared per common share

     0.01        0.01        0.01        0.01        0.01        —     

Return on average assets *

     0.39     0.42        (0.55     (1.09     (2.12     nmbp   

Return on average common equity *

     2.66        3.20        (10.95     (18.46     (31.80     nm   

Average common shares outstanding - basic

     785,289        785,280        785,277        785,243        785,122        nm

Average common shares outstanding - diluted

     911,253        911,247        785,277        785,243        785,122        16.1   

nm - not meaningful

* - ratios are annualized


Synovus

BALANCE SHEET DATA

(Unaudited)

(In thousands, except share data)

 

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

ASSETS

      

Cash and due from banks

   $ 510,423        452,034        389,021   

Interest bearing funds with Federal Reserve Bank

     1,567,006        2,750,953        3,103,896   

Interest earning deposits with banks

     13,590        21,560        16,446   

Federal funds sold and securities purchased under resale agreements

     158,916        189,304        160,502   

Trading account assets, at fair value

     16,866        17,467        22,294   

Mortgage loans held for sale, at fair value

     161,509        125,379        232,839   

Other loans held for sale

     30,156        53,074        127,365   

Investment securities available for sale, at fair value

     3,690,125        3,596,511        3,440,268   

Loans, net of unearned income

     20,079,813        20,102,086        21,585,763   

Allowance for loan losses

     (536,494     (595,383     (703,547
  

 

 

   

 

 

   

 

 

 

Loans, net

     19,543,319        19,506,703        20,882,216   
  

 

 

   

 

 

   

 

 

 

Premises and equipment, net

     486,923        488,074        544,971   

Goodwill

     24,431        24,431        24,431   

Other intangible assets, net

     8,525        9,482        12,434   

Other assets

     951,056        1,018,952        1,136,465   
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 27,162,845        28,253,924        30,093,148   
  

 

 

   

 

 

   

 

 

 

LIABILITIES AND EQUITY

      

Liabilities:

      

Deposits:

      

Non-interest bearing deposits

   $ 5,366,868        5,249,335        4,298,372   

Interest bearing deposits, excluding brokered deposits

     15,261,710        15,702,461        17,049,583   

Brokered deposits

     1,783,174        2,157,631        3,152,349   
  

 

 

   

 

 

   

 

 

 

Total deposits

     22,411,752        23,109,427        24,500,304   

Federal funds purchased and other short-term borrowings

     313,757        328,806        499,226   

Long-term debt

     1,364,727        1,522,334        1,808,161   

Other liabilities

     245,157        463,909        260,910   
  

 

 

   

 

 

   

 

 

 

Total liabilities

     24,335,393        25,424,476        27,068,601   
  

 

 

   

 

 

   

 

 

 

Equity:

      

Shareholders’ equity:

      

Cumulative perpetual preferred stock, no par value (1)

     947,017        944,538        937,323   

Common stock, par value $1.00 (2)

     790,989        790,974        790,956   

Additional paid-in capital

     2,241,171        2,254,068        2,293,264   

Treasury stock, at cost (3)

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

Accumulated other comprehensive income

     21,093        32,189        57,158   

Accumulated deficit

     (1,058,642     (1,078,145     (966,607
  

 

 

   

 

 

   

 

 

 

Total shareholders’ equity

     2,827,452        2,829,448        2,997,918   

Non-controlling interest in subsidiaries

     —          —          26,629   
  

 

 

   

 

 

   

 

 

 

Total equity

     2,827,452        2,829,448        3,024,547   
  

 

 

   

 

 

   

 

 

 

Total liabilities and equity

   $ 27,162,845        28,253,924        30,093,148   
  

 

 

   

 

 

   

 

 

 

 

(1) Preferred shares outstanding: 967,870, at all periods presented
(2) Common shares outstanding: 785,295,428; 785,280,277; and 785,262,837 at December 31, 2011, September 30, 2011, and December 31, 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  
     Fourth     Third     Second     First     Fourth  
     Quarter     Quarter     Quarter     Quarter     Quarter  

Interest Earning Assets

          

Taxable investment securities (2)

   $ 3,647,459        3,152,589        3,172,818        3,264,581        3,104,004   

Yield

     2.59     3.28        3.46        3.56        3.76   

Tax-exempt investment securities (2) (4)

   $ 25,566        27,903        31,264        44,228        51,400   

Yield (taxable equivalent)

     6.57     6.66        6.73        6.84        7.16   

Trading account assets

   $ 19,107        14,601        16,881        20,281        16,037   

Yield

     4.87     5.76        5.27        5.13        5.86   

Commercial loans (3) (4)

   $ 16,276,207        16,535,371        16,983,912        17,555,733        18,315,882   

Yield

     4.82     4.88        4.92        4.98        4.90   

Consumer loans (3)

   $ 3,871,393        3,869,698        3,879,042        3,914,222        3,988,849   

Yield

     4.95     5.06        5.10        5.25        5.22   

Allowance for loan losses

   $ (587,956     (632,082     (678,851     (698,609     (819,176
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loans, net (3)

   $ 19,559,644        19,772,987        20,184,103        20,771,346        21,485,555   

Yield

     5.01     5.09        5.14        5.21        5.16   

Mortgage loans held for sale

   $ 161,632        91,257        79,340        152,981        260,759   

Yield

     4.58     5.74        6.16        4.74        4.60   

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

   $ 2,221,728        3,075,470        2,929,515        3,033,284        3,628,939   

Yield

     0.24     0.24        0.25        0.25        0.25   

Federal Home Loan Bank and Federal Reserve Bank stock (5)

   $ 84,171        96,442        104,727        111,096        113,341   

Yield

     0.93     0.90        0.87        0.90        0.59   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest earning assets

   $ 25,719,307        26,231,249        26,518,648        27,397,797        28,660,035   

Yield

     4.23     4.28        4.37        4.42        4.36   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest Bearing Liabilities

          

Interest bearing demand deposits

   $ 3,457,677        3,302,439        3,379,243        3,526,730        3,864,106   

Rate

     0.26     0.30        0.32        0.33        0.33   

Money market accounts

   $ 6,697,334        6,636,751        6,306,399        6,550,623        6,874,367   

Rate

     0.57     0.73        0.77        0.76        0.84   

Savings deposits

   $ 516,520        521,604        520,518        493,504        484,460   

Rate

     0.12     0.13        0.14        0.14        0.14   

Time deposits under $100,000

   $ 2,062,171        2,131,453        2,124,525        2,212,215        2,383,411   

Rate

     1.17     1.27        1.38        1.53        1.74   

Time deposits over $100,000

   $ 2,710,893        2,912,476        2,978,929        3,291,202        3,859,235   

Rate

     1.40     1.49        1.57        1.65        1.77   

Brokered money market accounts

   $ 236,973        325,002        390,048        393,981        423,428   

Rate

     0.27     0.39        0.47        0.51        0.54   

Brokered time deposits

   $ 1,689,538        2,053,811        2,471,620        2,665,314        2,956,904   

Rate

     1.87     1.88        1.87        1.83        1.82   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest bearing deposits

   $ 17,371,106        17,883,536        18,171,282        19,133,569        20,845,911   

Rate

     0.82     0.95        1.01        1.05        1.14   

Federal funds purchased and other short-term liabilities

   $ 329,343        368,311        449,815        412,008        442,183   

Rate

     0.26     0.28        0.26        0.29        0.33   

Long-term debt

   $ 1,443,825        1,693,673        1,901,130        1,891,576        1,729,991   

Rate

     2.78     2.45        2.30        2.39        2.64   

Total interest bearing liabilities

   $ 19,144,274        19,945,520        20,522,227        21,437,153        23,018,085   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Rate

     0.96     1.06        1.11        1.15        1.23   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest bearing demand deposits

   $ 5,413,322        5,175,521        4,911,044        4,821,237        4,433,849   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest margin

     3.52     3.47        3.51        3.52        3.37   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Taxable equivalent adjustment

   $ 844        880        893        964        968   

 

(1) Yields and rates are annualized.
(2) Excludes net unrealized gains and (losses).
(3) Average loans are shown net of unearned income. Non-performing loans are included.
(4) Reflects taxable-equivalent adjustments, using the statutory federal income tax rate of 35%, in adjusting interest on tax-exempt loans and investment securities to a taxable-equivalent basis.
(5) Included as a component of Other Assets on the balance sheet


Synovus

LOANS OUTSTANDING AND NON-PERFORMING LOANS COMPOSITION

(Unaudited)

(Dollars in thousands)

 

     December 31, 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

   $ 785,672        3.9   $ 7,866         0.9

Hotels

     791,444        3.9        6,420         0.7   

Office Buildings

     775,671        3.9        9,092         1.0   

Shopping Centers

     979,288        4.9        18,648         2.1   

Commercial Development

     286,954        1.4        37,225         4.2   

Warehouses

     489,086        2.4        10,525         1.2   

Other Investment Property

     449,198        2.2        5,990         0.7   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Investment Properties

     4,557,313        22.6        95,766         10.8   
  

 

 

   

 

 

   

 

 

    

 

 

 

1-4 Family Construction

     199,088        1.0        25,535         2.9   

1-4 Family Investment Mortgage

     976,552        4.9        57,924         6.6   

Residential Development

     442,844        2.2        114,125         12.9   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total 1-4 Family Properties

     1,618,484        8.1        197,584         22.4   
  

 

 

   

 

 

   

 

 

    

 

 

 

Land Acquisition

     1,094,821        5.5        234,151         26.5   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial Real Estate

     7,270,618        36.2        527,501         59.7   
  

 

 

   

 

 

   

 

 

    

 

 

 

Commercial , Financial, and Agricultural

     5,088,420        25.3        174,328         19.7   

Owner-Occupied Real Estate

     3,852,854        19.2        93,272         10.6   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial & Industrial

     8,941,274        44.5        267,600         30.3   

Home Equity Lines

     1,619,585        8.1        24,559         2.8   

Consumer Mortgages

     1,411,749        7.0        56,995         6.5   

Credit Cards

     273,098        1.3        —           —     

Other Retail Loans

     575,475        2.9        6,366         0.7   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Retail

     3,879,907        19.3        87,920         10.0   

Unearned Income

     (11,986     nm        —           nm   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total

   $ 20,079,813        100.0   $ 883,021         100.0
  

 

 

   

 

 

   

 

 

    

 

 

 

LOANS OUTSTANDING BY TYPE COMPARISON

(Unaudited)

(Dollars in thousands)

 

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

Loan Type

   December 31, 2011     September 30, 2011     % change (1)     December 31, 2010     % change  

Multi-Family

   $ 785,672        752,638        17.4   $ 867,328        (9.4 )% 

Hotels

     791,444        789,477        1.0        865,974        (8.6

Office Buildings

     775,671        791,441        (7.9     842,657        (7.9

Shopping Centers

     979,288        1,001,547        (8.8     1,078,122        (9.2

Commercial Development

     286,954        300,474        (17.9     381,107        (24.7

Warehouses

     489,086        497,918        (7.0     528,297        (7.4

Other Investment Property

     449,198        463,014        (11.8     495,617        (9.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Properties

     4,557,313        4,596,509        (3.4     5,059,102        (9.9
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

1-4 Family Construction

     199,088        221,900        (40.8     332,047        (40.0

1-4 Family Investment Mortgage

     976,552        1,020,396        (17.0     1,127,566        (13.4

Residential Development

     442,844        484,095        (33.8     643,174        (31.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total 1-4 Family Properties

     1,618,484        1,726,391        (24.8     2,102,787        (23.0
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Land Acquisition

     1,094,821        1,119,947        (8.9     1,218,691        (10.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial Real Estate

     7,270,618        7,442,847        (9.2     8,380,580        (13.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Commercial , Financial, and Agricultural

     5,088,420        4,900,931        15.2        5,267,861        (3.4

Owner-Occupied Real Estate

     3,852,854        3,911,614        (6.0     3,996,949        (3.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial & Industrial

     8,941,274        8,812,545        5.8        9,264,810        (3.5

Home Equity Lines

     1,619,585        1,612,798        1.7        1,648,039        (1.7

Consumer Mortgages

     1,411,749        1,426,024        (4.0     1,475,261        (4.3

Credit Cards

     273,098        267,810        7.8        284,970        (4.2

Other Retail Loans

     575,475        550,106        18.3        542,539        6.1   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Retail

     3,879,907        3,856,738        2.4        3,950,809        (1.8

Unearned Income

     (11,986     (10,044     76.7        (10,436     14.9   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 20,079,813        20,102,086        (0.4 )%    $ 21,585,763        (7.0 )% 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Percentage change is annualized.


Synovus

CREDIT QUALITY DATA

(Unaudited)

(Dollars in thousands)

 

     2011      2010      4th Quarter  
     Fourth     Third      Second      First      Fourth      ‘11 vs. ‘10  
     Quarter     Quarter      Quarter      Quarter      Quarter      Change  

Non-performing Loans

   $ 883,021        872,074         885,236         895,726         891,622         (1.0 )% 

Other Loans Held for Sale (1)

     30,156        53,074         89,139         110,436         127,365         (76.3

Other Real Estate

     204,232        239,255         244,313         269,314         261,305         (21.8

Non-performing Assets

     1,117,409        1,164,403         1,218,688         1,275,476         1,280,292         (12.7

Allowance for Loan Losses

     536,494        595,383         631,401         678,426         703,547         (23.7

Net Charge-Offs - Quarter

     113,454        138,344         167,184         166,867         385,203         (70.5

Net Charge-Offs - YTD

     585,849        472,395         334,051         166,867         1,371,452         (57.3

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

     2.26     2.72         3.22         3.12         6.93      

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

     2.84        3.03         3.17         3.12         5.82      

Non-performing Loans / Loans

     4.40        4.34         4.32         4.27         4.13      

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

     5.50        5.71         5.85         5.97         5.83      

Allowance / Loans

     2.67        2.96         3.08         3.23         3.26      

Allowance / Non-performing Loans

     60.76        68.27         71.33         75.74         78.91      

Allowance / Non-performing Loans (3)

     126.54        145.12         161.55         176.08         192.60      

Past Due Loans over 90 days and Still Accruing

   $ 14,521        26,860         23,235         10,490         16,222         (10.5 )% 

As a Percentage of Loans Outstanding

     0.07     0.13         0.11         0.05         0.08      

Total Past Dues Loans and Still Accruing

   $ 149,441        199,561         199,804         201,754         176,756         (15.5

As a Percentage of Loans Outstanding

     0.74     0.99         0.97         0.96         0.82      

Accruing troubled debt restructurings (TDRs)

   $ 668,472        640,324         551,603         545,416         464,123         44.0   

 

(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)

 

     December 31, 2011     December 31, 2010  

Tier 1 Capital

   $ 2,780,774        2,909,912   

Total Risk-Based Capital

     3,544,036        3,742,599   

Tier 1 Capital Ratio

     12.94     12.79   

Tier 1 Common Equity Ratio

     8.49        8.63   

Total Risk-Based Capital Ratio

     16.50        16.45   

Tier 1 Leverage Ratio

     10.08        9.44   

Common Equity as a Percentage of Total Assets (2)

     6.92        6.85   

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

     6.81        6.73   

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

     8.60        8.90   

Book Value Per Common Share (4) (5)

     2.06        2.29   

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

     2.02        2.25   

 

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