EX-99.2 3 d383671dex992.htm SUPPLEMENTAL INFORMATION Supplemental Information

Exhibit 99.2

Synovus

INCOME STATEMENT DATA

(Unaudited)

 

     Six Months Ended
June 30,
 
(Dollars in thousands, except per share data)    2012     2011     Change  

Interest income

   $ 516,464        586,484        (11.9 )% 

Interest expense

     82,148        118,089        (30.4
  

 

 

   

 

 

   

 

 

 

Net interest income

     434,316        468,395        (7.3

Provision for losses on loans

     110,271        261,905        (57.9
  

 

 

   

 

 

   

 

 

 

Net interest income after provision for losses on loans

     324,045        206,490        56.9   
  

 

 

   

 

 

   

 

 

 

Non-interest income:

      

Service charges on deposit accounts

     36,915        39,556        (6.7

Fiduciary and asset management fees

     21,627        23,416        (7.6

Brokerage revenue

     12,942        12,511        3.4   

Mortgage revenue

     13,986        8,042        73.9   

Bankcard fees

     16,072        22,782        (29.5

Investment securities gains (losses), net

     24,253        1,797        nm   

Other fee income

     9,651        10,220        (5.6

Increase (decrease) in fair value of private equity investments, net

     7,372        (169     nm   

Other non-interest income

     17,798        13,858        28.4   
  

 

 

   

 

 

   

 

 

 

Total non-interest income

     160,616        132,013        21.7   
  

 

 

   

 

 

   

 

 

 

Non-interest expense:

      

Salaries and other personnel expense

     187,795        184,849        1.6   

Net occupancy and equipment expense

     52,865        58,717        (10.0

FDIC insurance and other regulatory fees

     27,966        30,362        (7.9

Foreclosed real estate expense

     43,680        64,609        (32.4

Gains on other loans held for sale, net

     (99     (1,746     nm   

Professional fees

     19,196        20,129        (4.6

Data processing expense

     16,735        18,201        (8.1

Visa indemnification charges

     4,713        96        nm   

Restructuring charges

     2,252        27,439        nm   

Loss on curtailment of post-retirement defined benefit plan

     —          398        nm   

Other operating expenses

     56,296        59,077        (4.7
  

 

 

   

 

 

   

 

 

 

Total non-interest expense

     411,399        462,131        (11.0
  

 

 

   

 

 

   

 

 

 

Income (loss) from continuing operations before income taxes

     73,262        (123,628     nm   

Income tax benefit

     (2,182     (5,220     58.2   
  

 

 

   

 

 

   

 

 

 

Net income (loss)

     75,444        (118,408     nm   

Net loss attributable to non-controlling interest

     —          (220     nm   
  

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to controlling interest

     75,444        (118,188     nm   
  

 

 

   

 

 

   

 

 

 

Dividends and accretion of discount on preferred stock

     29,272        28,970        1.0   
  

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to common shareholders

   $ 46,172        (147,158     nm   
  

 

 

   

 

 

   

 

 

 

Basic EPS

      

Net income (loss) attributable to common shareholders

     0.06        (0.19     nm   

Diluted EPS

      

Net income (loss) attributable to common shareholders

     0.05        (0.19     nm   

Cash dividends declared per common share

     0.02        0.02        —     

Return on average assets

     0.56     (0.82     nm   

Return on average common equity

     4.86        (15.55     nm   

Average common shares outstanding - basic

     786,355        785,260        0.1

Average common shares outstanding - diluted

     909,542        785,260        15.8   

 

nm - not meaningful


Synovus

INCOME STATEMENT DATA

(Unaudited)

 

     2012     2011     2nd Quarter  
(Dollars in thousands, except per share data)    Second
Quarter
    First
Quarter
    Fourth
Quarter
    Third
Quarter
    Second
Quarter
    ‘12 vs. ‘11
Change
 

Interest income

   $ 253,809        262,654        273,303        281,970        288,052        (11.9 )% 

Interest expense

     40,453        41,695        46,147        53,367        57,091        (29.1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income

     213,356        220,959        227,156        228,603        230,961        (7.6

Provision for losses on loans

     44,222        66,049        54,565        102,325        120,159        (63.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest income after provision for losses on loans

     169,134        154,910        172,591        126,278        110,802        52.6   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest income:

            

Service charges on deposit accounts

     18,684        18,231        19,175        20,039        19,238        (2.9

Fiduciary and asset management fees

     10,792        10,835        10,763        11,631        11,879        (9.2

Brokerage revenue

     6,295        6,647        6,939        6,556        6,291        0.1   

Mortgage revenue

     7,983        6,003        4,847        7,427        5,547        43.9   

Bankcard fees

     8,493        7,579        7,150        11,562        12,125        (30.0

Investment securities gains (losses), net

     4,170        20,083        10,337        62,873        377        nm   

Other fee income

     4,951        4,700        4,310        5,423        5,289        (6.4

Increase (decrease) in fair value of private equity investments, net

     7,279        93        (177     (771     (301     nm   

Other non-interest income

     7,830        9,968        10,126        8,652        7,404        5.8   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest income

     76,477        84,139        73,470        133,392        67,849        12.7   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest expense:

            

Salaries and other personnel expense

     95,173        92,622        93,115        93,184        91,749        3.7   

Net occupancy and equipment expense

     26,159        26,706        27,338        27,981        28,883        (9.4

FDIC insurance and other regulatory fees

     13,302        14,663        13,238        15,463        15,956        (16.6

Foreclosed real estate expense

     20,708        22,972        31,853        37,108        39,872        (48.1

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

     (1,058     959        (145     (846     480        nm   

Professional fees

     9,929        9,267        10,321        10,135        10,893        (8.8

Data processing expense

     8,712        8,024        8,532        9,024        9,251        (5.8

Visa indemnification charges

     1,734        2,979        5,942        —          92        nm   

Restructuring charges

     1,393        858        639        2,587        3,106        (55.2

Other operating expenses

     32,212        24,083        28,249        27,916        22,133        45.5   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total non-interest expense

     208,264        203,133        219,082        222,552        222,415        (6.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes

     37,347        35,916        26,979        37,118        (43,764     nm   

Income tax (benefit) expense

     (2,105     (77     (378     6,910        (4,764     (55.8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     39,452        35,993        27,357        30,208        (39,000     nm   

Dividends and accretion of discount on preferred stock

     14,649        14,624        14,578        14,541        14,504        1.0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) available to common shareholders

   $ 24,803        21,369        12,779        15,667        (53,504     nm   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Basic EPS

            

Net income (loss) available to common shareholders

     0.03        0.03        0.02        0.02        (0.07     nm   

Diluted EPS

            

Net income (loss) available to common shareholders

     0.03        0.02        0.01        0.02        (0.07     nm   

Cash dividends declared per common share

     0.01        0.01        0.01        0.01        0.01        —     

Return on average assets *

     0.59     0.53     0.39        0.42        (0.55     nm   

Return on average common equity *

     5.23        4.49        2.66        3.20        (10.95     nm   

Average common shares outstanding - basic

     786,576        786,135        785,289        785,280        785,277        0.1

Average common shares outstanding - diluted

     909,761        908,986        911,253        911,247        785,277        15.9   

 

nm - not meaningful
* - ratios are annualized


Synovus

BALANCE SHEET DATA

(Unaudited)

 

     June 30,
2012
    December 31,
2011
    June 30,
2011
 

(In thousands, except share data)

      

ASSETS

      

Cash and due from banks

   $ 523,302        510,423        409,302   

Interest bearing funds with Federal Reserve Bank

     1,301,244        1,567,006        2,845,277   

Interest earning deposits with banks

     16,003        13,590        24,133   

Federal funds sold and securities purchased under resale agreements

     118,098        158,916        127,580   

Trading account assets, at fair value

     12,331        16,866        16,130   

Mortgage loans held for sale, at fair value

     120,007        161,509        78,752   

Other loans held for sale

     32,601        30,156        89,139   

Investment securities available for sale, at fair value

     3,570,346        3,690,125        3,259,254   

Loans, net of unearned income

     19,680,127        20,079,813        20,504,810   

Allowance for loan losses

     (453,325     (536,494     (631,401
  

 

 

   

 

 

   

 

 

 

Loans, net

     19,226,802        19,543,319        19,873,409   
  

 

 

   

 

 

   

 

 

 

Premises and equipment, net

     475,944        486,923        493,638   

Goodwill

     24,431        24,431        24,431   

Other intangible assets, net

     6,693        8,525        10,449   

Other real estate

     174,941        204,232        244,313   

Other assets

     691,367        746,824        818,103   
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 26,294,110        27,162,845        28,313,910   
  

 

 

   

 

 

   

 

 

 

LIABILITIES AND EQUITY

      

Liabilities:

      

Deposits:

      

Non-interest bearing deposits

   $ 5,607,680        5,366,868        4,877,267   

Interest bearing deposits, excluding brokered deposits

     14,808,493        15,261,710        15,307,152   

Brokered deposits

     1,148,892        1,783,174        2,690,598   
  

 

 

   

 

 

   

 

 

 

Total deposits

     21,565,065        22,411,752        22,875,017   

Federal funds purchased and other short-term borrowings

     351,173        313,757        452,466   

Long-term debt

     1,301,616        1,364,727        1,894,901   

Other liabilities

     222,867        245,157        240,588   
  

 

 

   

 

 

   

 

 

 

Total liabilities

     23,440,721        24,335,393        25,462,972   
  

 

 

   

 

 

   

 

 

 

Equity:

      

Shareholders’ equity:

      

Series A Preferred Stock, no par value (1)

     952,093        947,017        942,096   

Common stock, par value $1.00 (2)

     792,269        790,989        790,973   

Additional paid-in capital

     2,215,201        2,241,171        2,353,854   

Treasury stock, at cost (3)

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

Accumulated other comprehensive income

     7,003        21,093        65,905   

Accumulated deficit

     (999,001     (1,058,642     (1,187,714
  

 

 

   

 

 

   

 

 

 

Total shareholders’ equity

     2,853,389        2,827,452        2,850,938   

Total liabilities and equity

   $ 26,294,110        27,162,845        28,313,910   
  

 

 

   

 

 

   

 

 

 

 

(1) Preferred shares outstanding: 967,870, at all periods presented
(2) Common shares outstanding: 786,575,535; 785,295,428; and 785,279,194 at June 30, 2012, December 31, 2011, and June 30, 2011, respectively.
(3) Treasury shares: 5,693,452, at all periods presented


Synovus

AVERAGE BALANCES AND YIELDS/RATES (1)

(Unaudited)

 

     2012     2011  
(Dollars in thousands)    Second
Quarter
    First
Quarter
    Fourth
Quarter
    Third
Quarter
    Second
Quarter
 

Interest Earning Assets

          

Taxable investment securities (2)

   $ 3,539,376        3,577,026        3,647,459        3,152,589        3,172,818   

Yield

     2.11     2.34        2.59        3.28        3.46   

Tax-exempt investment securities (2) (4)

   $ 21,408        23,559        25,566        27,903        31,264   

Yield (taxable equivalent)

     6.40     6.36        6.57        6.66        6.73   

Trading account assets

   $ 13,647        14,975        19,107        14,601        16,881   

Yield

     6.93     7.45        4.87        5.76        5.27   

Commercial loans (3) (4)

   $ 15,941,719        16,144,615        16,276,207        16,535,371        16,983,912   

Yield

     4.67     4.76        4.82        4.88        4.92   

Consumer loans (3)

   $ 3,896,941        3,866,084        3,871,393        3,869,698        3,879,042   

Yield

     4.87     4.94        4.95        5.06        5.10   

Allowance for loan losses

   $ (498,419     (529,669     (587,956     (632,082     (678,851
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loans, net (3)

   $ 19,340,241        19,481,030        19,559,644        19,772,987        20,184,103   

Yield

     4.85     4.94        5.01        5.09        5.14   

Mortgage loans held for sale

   $ 90,499        112,040        161,632        91,257        79,340   

Yield

     4.99     4.88        4.58        5.74        6.16   

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

   $ 1,668,814        1,830,295        2,221,728        3,075,470        2,929,515   

Yield

     0.24     0.24        0.24        0.24        0.25   

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

   $ 63,665        78,100        84,171        96,442        104,727   

Yield

     1.85     1.43        0.93        0.90        0.87   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest earning assets

   $ 24,737,650        25,117,025        25,719,307        26,231,249        26,518,648   

Yield

     4.14     4.22        4.23        4.28        4.37   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest Bearing Liabilities

          

Interest bearing demand deposits

   $ 3,404,540        3,540,327        3,457,677        3,302,439        3,379,243   

Rate

     0.22     0.25        0.26        0.30        0.32   

Money market accounts

   $ 6,769,037        6,755,769        6,697,334        6,636,751        6,306,399   

Rate

     0.42     0.49        0.57        0.73        0.77   

Savings deposits

   $ 557,149        534,118        516,520        521,604        520,518   

Rate

     0.11     0.12        0.12        0.13        0.14   

Time deposits under $100,000

   $ 1,868,348        1,967,084        2,062,171        2,131,453        2,124,525   

Rate

     0.97     1.08        1.17        1.27        1.38   

Time deposits over $100,000

   $ 2,336,496        2,480,044        2,710,893        2,912,476        2,978,929   

Rate

     1.23     1.33        1.40        1.49        1.57   

Brokered money market accounts

   $ 222,916        223,113        236,973        325,002        390,048   

Rate

     0.33     0.28        0.27        0.39        0.47   

Brokered time deposits

   $ 1,036,521        1,346,868        1,689,538        2,053,811        2,471,620   

Rate

     1.94     1.89        1.87        1.88        1.87   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest bearing deposits

   $ 16,195,007        16,847,323        17,371,106        17,883,536        18,171,282   

Rate

     0.64     0.73        0.82        0.95        1.01   

Federal funds purchased and other short-term liabilities

   $ 368,984        296,018        329,343        368,311        449,815   

Rate

     0.18     0.24        0.26        0.28        0.26   

Long-term debt

   $ 1,326,239        1,386,324        1,443,825        1,693,673        1,901,130   

Rate

     4.34     3.19        2.78        2.45        2.30   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total interest bearing liabilities

   $ 17,890,230        18,529,665        19,144,274        19,945,520        20,522,227   

Rate

     0.91     0.90        0.96        1.06        1.11   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-interest bearing demand deposits

   $ 5,606,352        5,397,964        5,413,322        5,175,521        4,911,044   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net interest margin

     3.48     3.55        3.52        3.47        3.51   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Taxable equivalent adjustment

   $ 780        798        844        880        893   

 

(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)    June 30, 2012  

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

   $ 785,726        4.0   $ 5,997         0.8

Hotels

     706,782        3.6        11,619         1.5   

Office Buildings

     766,263        3.9        7,412         1.0   

Shopping Centers

     931,036        4.7        10,196         1.4   

Commercial Development

     283,115        1.4        37,044         4.9   

Warehouses

     486,055        2.5        6,354         0.8   

Other Investment Property

     457,633        2.3        8,586         1.1   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Investment Properties

     4,416,610        22.4        87,208         11.5   
  

 

 

   

 

 

   

 

 

    

 

 

 

1-4 Family Construction

     163,537        0.8        11,856         1.6   

1-4 Family Investment Mortgage

     919,009        4.7        50,849         6.7   

Residential Development

     401,278        2.0        89,993         11.9   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total 1-4 Family Properties

     1,483,824        7.5        152,698         20.2   
  

 

 

   

 

 

   

 

 

    

 

 

 

Land Acquisition

     983,843        5.0        213,521         28.3   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial Real Estate

     6,884,277        35.0        453,427         60.0   
  

 

 

   

 

 

   

 

 

    

 

 

 

Commercial , Financial, and Agricultural

     5,045,144        25.6        140,545         18.6   

Owner-Occupied Real Estate

     3,839,489        19.5        77,792         10.3   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Commercial & Industrial

     8,884,633        45.1        218,337         28.9   

Home Equity Lines

     1,603,905        8.1        24,177         3.2   

Consumer Mortgages

     1,383,915        7.0        51,783         6.9   

Small Business

     383,520        1.9        5,188         0.7   

Credit Cards

     262,402        1.3        —           —     

Other Retail Loans

     290,793        1.5        2,249         0.3   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total Retail

     3,924,535        19.8        83,397         11.1   

Unearned Income

     (13,318     nm        —           nm   
  

 

 

   

 

 

   

 

 

    

 

 

 

Total

   $ 19,680,127        100.0   $ 755,161         100.0
  

 

 

   

 

 

   

 

 

    

 

 

 

LOANS OUTSTANDING BY TYPE COMPARISON

(Unaudited)

 

(Dollars in thousands)    Total Loans     2Q12 vs. 1Q12     2Q12 vs. 4Q11     2Q12 vs. 2Q11  

Loan Type

   June 30, 2012     % change (1)     % change (1)     % change  

Multi-Family

   $ 785,726        13.1     0.0        (3.9

Hotels

     706,782        (32.5     (21.5     (13.0

Office Buildings

     766,263        4.3        (2.4     (4.0

Shopping Centers

     931,036        (2.3     (9.9     (10.1

Commercial Development

     283,115        10.1        (2.7     (10.3

Warehouses

     486,055        2.7        (1.2     (6.8

Other Investment Property

     457,633        (4.9     3.8        (1.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Properties

     4,416,610        (2.7     (6.2     (7.3
  

 

 

   

 

 

   

 

 

   

 

 

 

1-4 Family Construction

     163,537        (30.8     (35.9     (34.6

1-4 Family Investment Mortgage

     919,009        (15.5     (11.8     (14.0

Residential Development

     401,278        (19.0     (18.9     (24.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Total 1-4 Family Properties

     1,483,824        (18.2     (16.7     (19.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Land Acquisition

     983,843        (25.2     (20.4     (16.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial Real Estate

     6,884,277        (9.5     (10.7     (11.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Commercial , Financial, and Agricultural

     5,045,144        (6.0     (1.7     1.8   

Owner-Occupied Real Estate

     3,839,489        2.7        (0.7     (1.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Commercial & Industrial

     8,884,633        (2.3     (1.3     0.4   

Home Equity Lines

     1,603,905        2.1        (1.9     (0.5

Consumer Mortgages

     1,383,915        (1.8     (4.0     (4.6

Small Business

     383,520        67.3        55.7        51.5   

Credit Cards

     262,402        (3.1     (7.9     (3.4

Other Retail Loans

     290,793        1.2        11.4        2.5   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Retail

     3,924,535        5.8        2.3        1.4   

Unearned Income

     (13,318     71.7        22.3        51.6   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 19,680,127        (3.3 )%      (4.0     (4.0
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Percentage change is annualized.

 


Synovus

CREDIT QUALITY DATA

(Unaudited)

 

     2012      2011      2nd Quarter  
     Second     First      Fourth      Third      Second      ‘12 vs.’ 11  
(Dollars in thousands)    Quarter     Quarter      Quarter      Quarter      Quarter      Change  

Non-performing Loans

   $ 755,161        836,039         883,021         872,074         885,236         (14.7 )% 

Other Loans Held for Sale (1)

     31,306        18,317         30,156         53,074         89,139         (64.9

Other Real Estate

     174,941        201,429         204,232         239,255         244,313         (28.4

Non-performing Assets

     961,408        1,055,785         1,117,409         1,164,403         1,218,688         (21.1

Allowance for Loan Losses

     453,325        507,794         536,494         595,383         631,401         (28.2

Net Charge-Offs - Quarter

     98,692        94,749         113,454         138,344         167,184         (41.0

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

     1.99     1.90         2.26         2.72         3.22      

Non-performing Loans / Loans

     3.84        4.21         4.40         4.34         4.32      

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

     4.83        5.26         5.50         5.71         5.85      

Allowance / Loans

     2.30        2.56         2.67         2.96         3.08      

Allowance / Non-performing Loans

     60.03        60.74         60.76         68.27         71.33      

Allowance / Non-performing Loans (3)

     136.94        128.32         124.04         145.12         161.55      

Past Due Loans over 90 days and Still Accruing

   $ 5,863        8,388         14,521         26,860         23,235         (74.8 )% 

As a Percentage of Loans Outstanding

     0.03     0.04         0.07         0.13         0.11      

Total Past Dues Loans and Still Accruing

   $ 91,962        144,794         149,441         199,561         199,804         (54.0

As a Percentage of Loans Outstanding

     0.47     0.73         0.74         0.99         0.97      

Accruing troubled debt restructurings (TDRs)

   $ 687,396        651,239         668,472         640,324         551,603         24.6   

 

(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)    June 30, 2012     December 31, 2011      June 30, 2011  

Tier 1 Capital

   $ 2,822,487        2,780,774         2,758,282   

Total Risk-Based Capital

     3,449,042        3,544,089         3,522,660   

Tier 1 Capital Ratio

     13.36     12.94         12.84   

Tier 1 Common Equity Ratio

     8.81        8.49         8.41   

Total Risk-Based Capital Ratio

     16.32        16.49         16.40   

Tier 1 Leverage Ratio

     10.66        10.08         9.70   

Common Equity as a Percentage of Total Assets (2)

     7.23        6.92         6.74   

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

     7.12        6.81         6.63   

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

     8.85        8.60         8.73   

Book Value Per Common Share (4) (5)

     2.09        2.06         2.10   

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

     2.05        2.02         2.06   

 

(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).