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

October 22, 2013

Date of Report

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

Georgia (State of Incorporation) 1-10312 (Commission File Number) 58-1134883 (IRS Employer Identification No.)

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 649-2311

        (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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ 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 October 22, 2013, Synovus Financial Corp. (the “Company”) issued a press release announcing the Company’s financial results for the three and nine month periods ended September 30, 2013.

Pursuant to General Instruction F to Current Report on Form 8-K, the press release is attached to this Current Report as Exhibit 99.1 and only those portions of the press release related to the historical results of operations of the Company for the three and nine months ended September 30, 2013 are incorporated into this Item 2.02 by reference. The information contained in this Item 2.02, including the information set forth in the press release filed as Exhibit 99.1 to, and incorporated in, this Current Report is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

Item 7.01 Regulation FD Disclosure

On October 22, 2013, the Company made available the supplemental information (the “Supplemental Information”) and slide presentation (“Slide Presentation”) prepared for use with the press release. The investor call and webcast will be held at 8:30 a.m., ET, on October 22, 2013.

Pursuant to General Instruction F to Current Report on Form 8-K, the Supplemental Information and the Slide Presentation are attached to this Current Report as Exhibits 99.2 and Exhibit 99.3, respectively, and incorporated into this Item 7.01 by reference. The information contained in this Item 7.01, including the information set forth in the Supplemental Information and Slide Presentation filed as Exhibit 99.2 and Exhibit 99.3 to, and incorporated in, this Current Report, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in Exhibit 99.2 and Exhibit 99.3 furnished pursuant to this Item 7.01 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.

2

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 Synovus press release dated October 22, 2013

99.2 Supplemental Information prepared for use with the press release

99.3 Slide presentation prepared for use with the press release

3

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:   October 22, 2013	By:	/s/Samuel F. Hatcher
		Samuel F. Hatcher
		Executive Vice President,     General Counsel and Secretary

4

EX-99.1

Exhibit 99.1

For Immediate Release

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

Synovus Reports Earnings for Third Quarter of 2013

Net Income Available to Common Shareholders Increases by 21%

Columbus, Ga., October 22, 2013 – Synovus Financial Corp. (NYSE: SNV) today reported financial results for the quarter ended September 30, 2013.

Third Quarter Results

— Net income available to common shareholders increased to $37.2 million for the third quarter of 2013, a 21% increase compared to $30.7 million for the second quarter of 2013, and $16.0 million for the third quarter of 2012. Diluted net income per common share for the third quarter of 2013 was $0.04 compared to $0.03 for the second quarter of 2013 and $0.02 for the third quarter of 2012.

^¡  The third quarter of 2013 results included income tax expense of $27.8 million compared to $27.4 million in the second quarter of 2013 and a tax benefit of $211 thousand in the third quarter of 2012.

— Credit costs declined to $22.4 million for the third quarter of 2013, compared to $24.0 million for the second quarter of 2013 and $85.6 million for the third quarter of 2012.

— Total loans grew $103.3 million sequentially or 2.1% annualized.

“We were pleased with the continued growth in profitability during the third quarter, with a 21% increase in net income available to common shareholders compared to last quarter. This upward trend signals one of the many and immediate benefits of our company’s July 26th exit from the Troubled Asset Relief Program (TARP),” said Kessel D. Stelling, Chairman and CEO of Synovus. “Third quarter results also included other encouraging signs, including growth in loans and deposits, stability in the net interest margin, and continued positive credit trends.”

Core Performance

Pre-tax, pre-credit costs income was $95.4 million for the third quarter of 2013, down $2.6 million from $98.0 million for the second quarter of 2013.

— Net interest income was $204.0 million for the third quarter of 2013, up $1.9 million from $202.1 million in the previous quarter.

— The net interest margin increased to 3.40%, up one basis point from the second quarter of 2013, with the yield on earning assets up one basis point and the effective cost of funds unchanged.

— Total non-interest income was $63.6 million for the third quarter of 2013, down $1.5 million, compared to $65.1 million for the second quarter of 2013, due primarily to a decline in mortgage banking income of $2.0 million.

— Adjusted non-interest expense (excludes Visa indemnification charges, restructuring charges and other credit costs) was $171.0 million, up $3.3 million from $167.8 million for the second quarter of 2013, due primarily to a $3.3 million increase in employment expenses (merit increases and one additional pay day) and elevated professional fees.

Balance Sheet Fundamentals

— Total reported loans ended the quarter at $19.71 billion, a $103.3 million increase from the second quarter of 2013.

^¡  Commercial and industrial loans grew by $18.1 million from the second quarter of 2013, or 0.7% annualized.

^¡  Retail loans grew by $83.3 million from the second quarter of 2013, or 9.5% annualized.

^¡  Commercial real estate loans grew by $3.2 million from the second quarter of 2013.

— Total deposits ended the quarter at $20.97 billion, up $263.2 million from the previous quarter due primarily to increases in non-interest bearing demand deposits and time deposits.

— Core deposits ended the quarter at $19.70 billion, up $326.0 million compared to the second quarter of 2013. Core deposits, excluding time deposits, increased $133.5 million compared to the previous quarter.

Credit Quality

  All key credit quality metrics continued to improve.

— Total credit costs were $22.4 million in the third quarter of 2013, down from $24.0 million in the second quarter of 2013 and $85.6 million in the third quarter of 2012.

— Net charge-offs were $23.0 million in the third quarter of 2013, down from $30.0 million in the second quarter of 2013 and $96.5 million in the third quarter of 2012. The annualized net charge-off ratio was 0.47% in the third quarter, down from 0.61% in the previous quarter and 1.97% in the third quarter of 2012.

— Non-performing loan inflows were $47.4 million in the third quarter of 2013, down from $66.9 million in the second quarter of 2013 and $114.8 million in the third quarter of 2012.

— Non-performing loans, excluding loans held for sale, were $450.9 million at September 30, 2013, down $32.6 million from the previous quarter, and down $249.3 million or 35.6% from the third quarter of 2012. The non-performing loan ratio was 2.29% at September 30, 2013, down from 2.47% at the end of the previous quarter and 3.55% at September 30, 2012.

— Total non-performing assets were $586.9 million at September 30, 2013, down $48.3 million from the previous quarter, and down $312.5 million or 34.7% from the third quarter of 2012. The non-performing asset ratio was 2.96% at September 30, 2013, compared to 3.21% at the end of the previous quarter and 4.51% at September 30, 2012.

— Total delinquencies (consisting of loans 30 or more days past due and still accruing) declined to 0.40% of total loans at September 30, 2013, compared to 0.41% at June 30, 2013, and 0.55% at September 30, 2012. Total loans past due 90 days or more and still accruing remained low at 0.02% at September 30, 2013, compared to 0.02% at June 30, 2013, and 0.05% at September 30, 2012.

— Distressed asset sales were approximately $56 million during the third quarter, compared to approximately $67 million in the second quarter of 2013, and approximately $110 million in the third quarter of 2012.

Capital Ratios

The September 30, 2013 capital ratios reflect the common and preferred stock offerings ($300 million in net proceeds) completed during the third quarter in connection with the July 2013 $968 million TARP redemption.

— Tier 1 Common Equity ratio was 9.93% at September 30, 2013, compared to 8.97% at June 30, 2013.

— Tier 1 Capital ratio was 10.55% at September 30, 2013, compared to 13.49% at June 30, 2013.

— Total Risk Based Capital ratio was 13.04% at September 30, 2013, compared to 15.99% at June 30, 2013.

— Tier 1 Leverage ratio was 8.96% at September 30, 2013, compared to 11.33% at June 30, 2013.

— Tangible Common Equity ratio was 10.61% at September 30, 2013, compared to 9.71% at June 30, 2013.

“We will recognize later this month our 125^th anniversary as a banking organization, and I want to thank our team members and our customers for their dedication and loyalty to our company. While we celebrate our rich past, we are also looking ahead to a bright future.

“Our post-TARP redemption capital position is strong, and our company is well-positioned in growing markets throughout the southeast. According to recently released FDIC data, we again retained top five market share in markets that represent approximately 80% of our core deposit franchise. We continue to invest in high-opportunity markets and business lines where we can leverage our proven, relationship-based delivery model to build long-term customer relationships,” Stelling concluded.

Synovus will host an earnings highlights conference call at 8:30 a.m. EDT on October 22, 2013. The earnings call will be accompanied by a slide presentation. Shareholders and other interested parties can access the slide presentation and listen to the conference call via simultaneous Internet broadcast at www.synovus.com by clicking on the “Live Webcast” icon. RealPlayer or Windows Media Player can be downloaded 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.

About Synovus

Synovus Financial Corp. is a financial services company with approximately $26 billion in assets based in Columbus, Georgia. Synovus Financial Corp. provides commercial and retail banking, investment and mortgage services to customers in Georgia, Alabama, South Carolina, Florida and Tennessee. See Synovus Financial Corp. on the web at www.synovus.com.

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus’ use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Synovus’ future business and financial performance and/or the performance of the commercial banking industry and economy in general. These forward-looking statements include, among others, our expectations on credit trends and key credit metrics; expectations regarding deposits, loan growth and the net interest margin; expectations on our growth strategy and future profitability; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this report. Many of these factors are beyond Synovus’ ability to control or predict.

These forward-looking statements are based upon information presently known to Synovus’ management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012 under the captions “Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors” and in Synovus’ 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 and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

Use of Non-GAAP Financial Measures

The measures entitled pre-tax, pre-credit costs income, adjusted non-interest expense, core deposits, core deposits excluding time deposits, Tier 1 common equity ratio, and tangible common equity to tangible assets ratio are not measures recognized under U.S. generally accepted accounting principles (GAAP) and therefore are considered non-GAAP financial measures. The most comparable GAAP measures are income (loss) before income taxes, total non-interest expense, total deposits, Tier 1 capital to risk-weighted assets ratio, and total shareholders’ equity to total assets ratio, respectively.

Synovus believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus’ capital strength and the performance of its core business. These non-GAAP financial measures should not be considered as substitutes for income (loss) before income taxes, or total non-interest expense, total deposits, Tier 1 capital to risk-weighted assets ratio, and total shareholders’ equity to total assets ratio determined in accordance with GAAP and may not be comparable to other similarly titled measures at other companies.

The computations of pre-tax, pre-credit costs income, adjusted non-interest expense, core deposits, core deposits excluding time deposits, Tier 1 common equity ratio, and tangible common equity to tangible assets ratio, the reconciliation of these measures to income (loss) before income taxes, total non-interest expense, total deposits, Tier 1 capital to risk-weighted assets ratio, and total shareholders’ equity to total assets ratio are set forth in the tables below.

Reconciliation of Non-GAAP Financial Measures
(dollars in thousands)	3Q13		2Q13		1Q13		4Q12		3Q12
Pre-tax, Pre-credit Costs Income
Income (loss) before income taxes		$         73,459		72,906		46,553		(72,299)		30,514
Add:  Provision for losses on loans		6,761		13,077		35,696		146,526		63,572
Add:  Other credit costs(1)		15,603		10,887		13,595		39,236		22,046
Add:  Restructuring charges		687		1,758		4,850		1,969		1,192
Subtract:  Investment securities gains, net.		(1,124)		(1,403)		(45)		(8,233)		(6,656)
Add: Visa indemnification charges		-		764		37		757		833
Pre-tax, pre-credit costs income		$         95,386		97,989		100,686		107,956		111,501
Adjusted Non-interest Expense
Total non-interest expense		$       187,328		181,186		182,286		213,346		191,492
Subtract:  Other credit costs(1)		(15,603)		(10,887)		(13,595)		(39,236)		(22,046)
Subtract:  Restructuring charges		(687)		(1,758)		(4,850)		(1,969)		(1,192)
Subtract: Visa indemnification charges		-		(764)		(37)		(757)		(833)
Adjusted non-interest expense		$       171,038		167,777		163,804		171,384		167,421
Core deposits
Core deposits excluding time deposits
Total deposits		$  20,973,856		20,710,703		20,561,193		21,057,044		20,846,830
Subtract:  Brokered deposits		(1,275,200)		(1,338,064)		(1,332,632)		(1,092,749)		(919,959)
Core deposits		19,698,656		19,372,639		19,228,561		19,964,295		19,926,871
Subtract: Time deposits		(3,569,752)		(3,377,215)		(3,482,196)		(3,583,304)		(3,771,117)
Core deposits excluding time deposits		$  16,128,904		15,995,424		15,746,365		16,380,991		16,155,754
Tier 1 Common Equity Ratio
Total shareholders’ equity		$    2,931,860		3,568,204		3,578,106		3,569,431		2,875,700
Add/subtract: Accumulated other comprehensive loss (income)		29,514		33,060		(2,787)		(4,101)		(16,156)
Subtract: Goodwill		(24,431)		(24,431)		(24,431)		(24,431)		(24,431)
Subtract: Other intangible assets, net		(3,783)		(4,156)		(4,583)		(5,149)		(5,895)
Subtract: Disallowed deferred tax asset		(647,828)		(674,996)		(687,007)		(710,488)		-
Other items		7,425		7,304		7,191		6,982		6,732
Tier 1 capital		2,292,757		2,904,985		2,866,489		2,832,244		2,835,950
Subtract: Qualifying trust preferred securities		(10,000)		(10,000)		(10,000)		(10,000)		(10,000)
Subtract: Series C Preferred Stock, no par value		(125,400)		-		-		-		-
Subtract: Series A Preferred Stock, no par value		-		(962,725)		(960,005)		(957,327)		(954,690)
Tier 1 common equity		2,157,357		1,932,260		1,896,484		1,864,917		1,871,260
Risk-weighted assets		21,736,116(2)		21,542,287		21,235,129		21,387,935		21,443,178
Tier 1 common equity ratio		9.93%(2)		8.97		8.93		8.72		8.73
Tangible common equity to tangible assets ratio
Total assets		$  26,218,360		26,563,174		26,212,879		26,760,012		25,764,644
Subtract:  Goodwill		(24,431)		(24,431)		(24,431)		(24,431)		(24,431)
Subtract:  Other intangible assets, net		(3,783)		(4,156)		(4,583)		(5,149)		(5,895)
Tangible assets		$  26,190,146		26,534,587		26,183,865		26,730,432		25,734,318
Total shareholders’ equity		$    2,931,860		3,568,204		3,578,106		3,569,431		2,875,700
Subtract:  Goodwill		(24,431)		(24,431)		(24,431)		(24,431)		(24,431)
Subtract:  Other intangible assets, net		(3,783)		(4,156)		(4,583)		(5,149)		(5,895)
Subtract:  Series C Preferred Stock, no par value		(125,400)		-		-		-		-

Subtract:  Series A Preferred Stock, no par value	-	(962,725)	(960,005)	(957,327)	(954,690)
Tangible common equity	$    2,778,246	2,576,892	2,589,087	2,582,524	1,890,684
Total shareholders’ equity to total assets ratio	11.18%	13.43	13.65	13.34	11.16
Tangible common equity to tangible assets ratio	10.61%	9.71	9.89	9.66	7.35
(1) Other credit costs consist primarily of foreclosed real estate expense, net  (2) Preliminary

###

EX-99.2

Exhibit 99.2

Synovus

INCOME STATEMENT DATA		Nine Months Ended
(Unaudited)
(Dollars in thousands, except per share data)		September 30,
		2013			2012		Change
Interest income	$		695,755			764,140		(8.9)	%
Interest expense			89,894			117,479		(23.5)
Net interest income			605,861			646,661		(6.3)
Provision for loan losses			55,534			173,843		(68.1)
Net interest income after provision for loan losses			550,327			472,818		16.4
Non-interest income:
Service charges on deposit accounts			58,142			57,319		1.4
Fiduciary and asset management fees			32,471			31,966		1.6
Brokerage revenue			21,231			19,786		7.3
Mortgage banking income			19,569			23,247		(15.8)
Bankcard fees			22,662			23,938		(5.3)
Investment securities gains, net			2,571			30,909		(91.7)
Other fee income			16,461			14,927		10.3
(Decrease) increase in fair value of private equity investments, net			(856)			6,428		nm
Other non-interest income			21,139			25,329		(16.5)
Total non-interest income			193,390			233,849		(17.3)
Non-interest expense:
Salaries and other personnel expense			276,190			280,972		(1.7)
Net occupancy and equipment expense			77,025			79,512		(3.1)
FDIC insurance and other regulatory fees			24,059			37,171		(35.3)
Foreclosed real estate expense, net			28,800			55,677		(48.3)
Losses on other loans held for sale, net			487			4,005		(87.8)
Professional fees			28,922			29,270		(1.2)
Third-party services			30,446			28,466		7.0
Visa indemnification charges			801			5,546		(85.6)
Restructuring charges			7,295			3,444		111.8
Other operating expenses			76,774			78,827		(2.6)
Total non-interest expense			550,799			602,890		(8.6)
Income before income taxes			192,918			103,777		85.9
Income tax expense (benefit)			72,114			(2,393)		nm
Net income			120,804			106,170		13.8
Dividends and accretion of discount on Series A Preferred Stock			38,100			43,968		(13.3)
Net income available to common shareholders	$		82,704			62,202		33.0
Net income per common share, basic			0.10			0.08		20.8
Net income per common share, diluted			0.09			0.07		30.4
Cash dividends declared per common share			0.03			0.03		-
Return on average assets			0.61	%		0.53		15.1
Return on average common equity			4.16			4.33		(3.9)
Weighted average common shares outstanding, basic			865,565			786,429		10.1	%
Weighted average common shares outstanding, diluted			927,329			909,717		1.9

nm - not meaningful

Synovus

INCOME STATEMENT DATA
(Unaudited)
(Dollars in thousands, except per share data)		2013									2012					3rd Quarter
		Third     Quarter			Second     Quarter			First     Quarter			Fourth     Quarter			Third     Quarter		‘13 vs. ‘12  Change
Interest income	$		233,852			231,513			230,391			240,000			247,676		(5.6)	%
Interest expense			29,882			29,436			30,577			32,544			35,331		(15.4)
Net interest income			203,970			202,077			199,814			207,456			212,345		(3.9)
Provision for loan losses			6,761			13,077			35,696			146,526			63,572		(89.4)
Net interest income after provision for loan losses			197,209			189,000			164,118			60,930			148,773		32.6
Non-interest income:
Service charges on deposit accounts			19,426			19,195			19,521			20,883			20,404		(4.8)
Fiduciary and asset management fees			10,389			11,111			10,971			10,537			10,340		0.5
Brokerage revenue			6,636			7,002			7,594			7,127			6,844		(3.0)
Mortgage banking income			5,314			7,338			6,917			9,025			9,261		(42.6)
Bankcard fees			7,760			7,838			7,064			10,137			7,866		(1.3)
Investment securities gains, net			1,124			1,403			45			8,233			6,656		(83.1)
Other fee income			5,199			5,775			5,487			6,211			5,276		(1.5)
Increase (decrease) in fair value of private equity investments, net			284			(883)			(257)			1,805			(944)		nm
Other non-interest income			7,446			6,313			7,379			6,159			7,530		(1.1)
Total non-interest income			63,578			65,092			64,721			80,117			73,233		(13.2)
Non-interest expense:
Salaries and other personnel expense			92,794			89,479			93,917			94,901			93,177		(0.4)
Net occupancy and equipment expense			26,475			26,383			24,167			26,063			26,647		(0.6)
FDIC insurance and other regulatory fees			7,639			7,941			8,480			8,237			9,205		(17.0)
Foreclosed real estate expense, net			10,359			7,502			10,940			34,978			11,997		(13.7)
Losses (gains) on other loans held for sale, net			408			(86)			165			675			4,104		(90.1)
Professional fees			11,410			10,416			7,095			12,037			10,074		13.3
Third-party services			10,151			10,366			9,929			9,540			9,429		7.7
Visa indemnification charges			-			764			37			757			833		(100.0)
Restructuring charges			687			1,758			4,850			1,969			1,192		(42.4)
Other operating expenses			27,405			26,663			22,706			24,189			24,834		10.4
Total non-interest expense			187,328			181,186			182,286			213,346			191,492		(2.2)
Income before income taxes			73,459			72,906			46,553			(72,299)			30,514		140.7
Income tax expense (benefit)			27,765			27,371			16,979			(796,339)			(211)		nm
Net income			45,694			45,535			29,574			724,040			30,725		48.7
Dividends and accretion of discount on Series A Preferred Stock			8,506			14,818			14,776			14,736			14,695		(42.1)
Net income available to common shareholders	$		37,188			30,717			14,798			709,304			16,030		132.0
Net income per common share, basic			0.04			0.04			0.02			0.90			0.02		90.7
Net income per common share, diluted			0.04			0.03			0.02			0.78			0.02		120.1
Cash dividends declared per common share			0.01			0.01			0.01			0.01			0.01		-
Return on average assets *			0.69	%		0.69	%		0.46	%		11.13	%		0.47		46.8
Return on average common equity *			5.40			4.70			2.30			149.46			3.30		63.6
Weighted average common shares outstanding, basic			956,694			851,093			787,043			786,576			786,576		21.6	%
Weighted average common shares outstanding, diluted			959,680			910,937			910,835			911,251			910,396		5.4

nm - not meaningful

* - ratios are annualized

Synovus

BALANCE SHEET DATA		September 30, 2013		December 31, 2012		September 30, 2012
(Unaudited)
(In thousands, except share data)
ASSETS
Cash and cash equivalents	$		514,694		614,630		454,028
Interest bearing funds with Federal Reserve Bank			966,435		1,498,390		815,156
Interest earning deposits with banks			14,060		23,442		27,215
Federal funds sold and securities purchased under resale agreements			80,177		113,517		116,318
Trading account assets, at fair value			17,363		11,102		5,953
Mortgage loans held for sale, at fair value			61,232		212,663		246,224
Other loans held for sale			9,351		10,690		11,254
Investment securities available for sale, at fair value			3,151,344		2,981,112		3,229,440
Loans, net of deferred fees and costs			19,711,610		19,541,690		19,731,865
Allowance for loan losses			(318,612)		(373,405)		(420,404)
Loans, net			19,392,998		19,168,285		19,311,461
Premises and equipment, net			476,088		479,546		475,222
Goodwill			24,431		24,431		24,431
Other intangible assets, net			3,783		5,149		5,895
Other real estate			126,640		150,271		189,182
Deferred tax asset, net			763,050		806,406		1,985
Other assets			616,714		660,378		850,880
Total assets	$		26,218,360		26,760,012		25,764,644
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing deposits	$		5,358,659		5,665,527		5,503,288
Interest bearing deposits, excluding brokered deposits			14,339,997		14,298,768		14,423,583
Brokered deposits			1,275,200		1,092,749		919,959
Total deposits			20,973,856		21,057,044		20,846,830
Federal funds purchased, securities sold under repurchase agreements, and other short-term liabilities			194,613		201,243		165,865
Long-term debt			1,885,057		1,726,455		1,654,183
Other liabilities			232,974		205,839		222,066
Total liabilities			23,286,500		23,190,581		22,888,944
Shareholders’ equity:
Series A Preferred Stock - no par value, 967,870 outstanding at December 31, 2012 and September 30, 2012			-		957,327		954,690
Series C Preferred Stock - no par value, 5,200,000 outstanding at September 30, 2013			125,400		-		-
Common stock - $1.00 par value. 972,230,238 outstanding at September 30, 2013, 786,579,240 outstanding at December 31, 2012, and 786,575,516 outstanding at September 30, 2012			977,924		792,273		792,269
Additional paid-in capital			2,138,593		2,189,874		2,202,903
Treasury stock, at cost - 5,693,452 shares			(114,176)		(114,176)		(114,176)
Accumulated other comprehensive (loss) income			(29,514)		4,101		16,156
Accumulated deficit			(166,367)		(259,968)		(976,142)
Total shareholders’ equity			2,931,860		3,569,431		2,875,700
Total liabilities and shareholders’ equity	$		26,218,360		26,760,012		25,764,644

Synovus

AVERAGE BALANCES AND YIELDS/RATES (1)
(Unaudited)
(Dollars in thousands)
	2013							2012
	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Interest Earning Assets
Taxable investment securities (2)	$	3,062,976			3,034,152		2,984,129		3,069,000		3,495,838
Yield		1.79	%		1.70		1.42		1.62		1.67
Tax-exempt investment securities (2) (4)	$	9,835			11,435		14,362		17,377		19,503
Yield (taxable equivalent)		6.26	%		6.47		6.34		6.59		6.47
Trading account assets	$	13,806			7,847		8,629		9,600		12,343
Yield		4.50	%		6.34		7.12		8.04		8.27
Commercial loans (3) (4)	$	16,067,424			16,075,832		16,000,000		16,171,318		16,102,353
Yield		4.37	%		4.39		4.48		4.50		4.65
Consumer loans (3)	$	3,528,057			3,454,874		3,461,622		3,514,256		3,529,528
Yield		4.61	%		4.62		4.68		4.70		4.72
Allowance for loan losses	$	(328,084)			(351,075)		(372,239)		(405,237)		(446,495)
Loans, net (3)	$	19,267,397			19,179,631		19,089,383		19,280,337		19,185,386
Yield		4.50	%		4.52		4.54		4.65		4.79
Mortgage loans held for sale	$	85,493			129,742		179,507		208,839		175,199
Yield		4.07	%		4.35		3.80		3.72		4.03
Federal funds sold, due from Federal Reserve Bank, and other short-term investments	$	1,375,921			1,550,113		1,343,652		1,366,422		1,215,743
Yield		0.24	%		0.24		0.24		0.24		0.24
Federal Home Loan Bank and Federal Reserve Bank stock (5)	$	70,741			65,014		65,330		66,630		53,239
Yield		2.30	%		2.35		2.36		2.03		1.87
Total interest earning assets	$	23,886,169			23,977,934		23,684,992		24,018,205		24,157,251
Yield		3.89	%		3.88		3.95		3.99		4.09
Interest Bearing Liabilities
Interest bearing demand deposits	$	3,933,902			3,895,675		3,839,707		3,872,025		3,344,561
Rate		0.23	%		0.18		0.18		0.18		0.19
Money market accounts	$	6,148,289			6,072,155		6,135,649		6,251,374		6,751,607
Rate		0.33	%		0.33		0.33		0.33		0.33
Savings deposits	$	607,144			609,832		581,792		558,726		557,086
Rate		0.11	%		0.11		0.11		0.10		0.10
Time deposits under $100,000	$	1,526,974			1,537,639		1,581,092		1,648,554		1,763,864
Rate		0.62	%		0.64		0.69		0.74		0.85
Time deposits over $100,000	$	2,022,719			1,891,624		1,958,870		2,015,582		2,176,488
Rate		0.84	%		0.88		0.93		0.99		1.11
Brokered money market accounts	$	202,802			202,532		202,734		180,216		186,336
Rate		0.27	%		0.31		0.32		0.34		0.33
Brokered time deposits	$	1,130,491			1,131,444		1,013,461		800,434		820,908
Rate		0.70	%		0.77		0.99		1.42		1.83
Total interest bearing deposits	$	15,572,321			15,340,901		15,313,305		15,326,911		15,600,850
Rate		0.42	%		0.42		0.44		0.47		0.54
Federal funds purchased and other short-term liabilities	$	195,717			206,046		214,661		266,431		350,183
Rate		0.14	%		0.15		0.17		0.17		0.17
Long-term debt	$	1,885,385			1,762,173		1,688,580		1,740,588		1,372,741
Rate		2.85	%		3.06		3.26		3.31		4.09
Total interest bearing liabilities	$	17,653,423			17,309,120		17,216,546		17,333,930		17,323,774
Rate		0.67	%		0.68		0.72		0.75		0.81
Non-interest bearing demand deposits	$	5,306,447			5,327,795		5,232,587		5,466,312		5,560,827
Effective cost of funds		0.49	%		0.49		0.52		0.54		0.58
Net interest margin		3.40	%		3.39		3.43		3.45		3.51
Taxable equivalent adjustment	$	529			557		618		766		761

(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)
		September 30, 2013
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	$		953,632		4.8	%	$		2,991			0.7	%
Hotels			611,756		3.1				452			0.1
Office Buildings			799,613		4.1				5,623			1.2
Shopping Centers			866,460		4.4				11,389			2.5
Commercial Development			167,435		0.8				47,150			10.5
Warehouses			552,378		2.8				2,184			0.5
Other Investment Property			489,839		2.5				9,795			2.2
Total Investment Properties			4,441,113		22.5				79,584			17.8
1-4 Family Construction			125,134		0.6				3,199			0.7
1-4 Family Investment Mortgage			853,060		4.3				25,820			5.7
Residential Development			196,051		1.0				17,781			3.9
Total 1-4 Family Properties			1,174,245		6.0				46,800			10.4
Land Acquisition			730,135		3.7				152,911			33.9
Total Commercial Real Estate			6,345,493		32.2				279,295			61.9
Commercial, Financial, and Agricultural			5,415,424		27.5				64,907			14.4
Owner-Occupied Real Estate			3,811,649		19.3				41,559			9.2
Small Business			591,377		2.9				5,475			1.2
Total Commercial & Industrial			9,818,450		49.8				111,941			24.8
Home Equity Lines			1,549,582		7.9				18,996			4.2
Consumer Mortgages			1,482,861		7.5				38,902			8.6
Credit Cards			253,805		1.3				-			-
Other Retail Loans			286,421		1.5				1,745			0.4
Total Retail			3,572,669		18.0				59,643			13.2
Unearned Income			(25,002)		nm				-			nm
Total	$		19,711,610		100.0	%	$		450,879			100.0	%
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands)
Loan Type		Total Loans     September 30, 2013		June 30, 2013				3Q13 vs. 2Q13      % change (1)			September 30, 2012			3Q13 vs. 3Q12      % change
Multi-Family	$		953,632		898,472				24.4			759,500			25.6	%
Hotels			611,756		656,471				(27.0)			689,196			(11.2)
Office Buildings			799,613		782,196				8.8			772,961			3.4
Shopping Centers			866,460		844,309				10.4			918,224			(5.6)
Commercial Development			167,435		177,511				(22.5)			279,585			(40.1)
Warehouses			552,378		538,274				10.4			508,770			8.6
Other Investment Property			489,839		495,290				(4.4)			474,228			3.3
Total Investment Properties			4,441,113		4,392,523				4.4			4,402,464			0.9
1-4 Family Construction			125,134		120,417				15.5			152,598			(18.0)
1-4 Family Investment Mortgage			853,060		857,063				(1.9)			906,744			(5.9)
Residential Development			196,051		220,007				(43.2)			367,908			(46.7)
Total 1-4 Family Properties			1,174,245		1,197,487				(7.7)			1,427,250			(17.7)
Land Acquisition			730,135		752,319				(11.7)			909,420			(19.7)
Total Commercial Real Estate			6,345,493		6,342,329				0.2			6,739,134			(5.8)
Commercial, Financial, and Agricultural			5,415,424		5,397,786				1.3			5,163,546			4.9
Owner-Occupied Real Estate			3,811,649		3,833,713				(2.3)			3,877,578			(1.7)
Small Business			591,377		568,881				15.7			444,784			33.0
Total Commercial & Industrial			9,818,450		9,800,380				0.7			9,485,908			3.5
Home Equity Lines			1,549,582		1,507,738				11.0			1,572,986			(1.5)
Consumer Mortgages			1,482,861		1,451,212				8.7			1,416,820			4.7
Credit Cards			253,805		251,788				3.2			257,922			(1.6)
Other Retail Loans			286,421		278,603				11.1			276,148			3.7
Total Retail			3,572,669		3,489,341				9.5			3,523,876			1.4
Unearned Income			(25,002)		(23,767)				nm			(17,053)			nm
Total	$		19,711,610		19,608,283				2.1	%		19,731,865			(0.1)	%

(1) Percentage change is annualized.

Synovus

CREDIT QUALITY DATA
(Unaudited)
(Dollars in thousands)		2013							2012				3rd Quarter
		Third         Quarter			Second Quarter		First Quarter		Fourth Quarter		Third         Quarter		‘13 vs. ‘12         Change
Non-performing Loans	$		450,879			483,464		513,227		543,333		700,204		(35.6) %
Other Loans Held for Sale (1)			9,351			12,083		9,129		9,455		10,019		(6.7)
Other Real Estate			126,640			139,653		155,237		150,271		189,182		(33.1)
Non-performing Assets			586,870			635,200		677,592		703,059		899,405		(34.7)
Allowance for Loan Losses			318,612			334,880		351,772		373,405		420,404		(24.2)
Net Charge-Offs - Quarter			23,030			29,969		57,328		193,525		96,493		(76.1)
Net Charge-Offs / Average Loans - Quarter (2)			0.47	%		0.61		1.18		3.94		1.97
Non-performing Loans / Loans			2.29			2.47		2.65		2.78		3.55
Non-performing Assets / Loans, Other Loans Held for Sale & ORE			2.96			3.21		3.47		3.57		4.51
Allowance / Loans			1.62			1.71		1.82		1.91		2.13
Allowance / Non-performing Loans			70.66			69.27		68.54		68.72		60.04
Allowance / Non-performing Loans (3)			91.84			91.76		97.75		93.49		131.56
Past Due Loans over 90 days and Still Accruing	$		4,738			4,596		5,799		6,811		8,972		(47.2) %
As a Percentage of Loans Outstanding			0.02	%		0.02		0.03		0.03		0.05
Total Past Dues Loans and Still Accruing	$		78,906			80,678		88,330		104,825		108,633		(27.4)
As a Percentage of Loans Outstanding			0.40	%		0.41		0.46		0.54		0.55
Accruing troubled debt restructurings (TDRs)	$		574,236			635,125		623,900		673,383		698,847		(17.8)
(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, 2013			December 31, 2012		September 30, 2012
Tier 1 Capital	$		2,292,757			2,832,244		2,835,950
Total Risk-Based Capital			2,835,116			3,460,998		3,465,950
Tier 1 Capital Ratio			10.55	%		13.24		13.23
Tier 1 Common Equity Ratio			9.93			8.72		8.73
Total Risk-Based Capital Ratio			13.04			16.18		16.16
Tier 1 Leverage Ratio			8.96			11.00		10.97
Common Equity as a Percentage of Total Assets (2)			10.70			9.76		7.46
Tangible Common Equity as a Percentage of Tangible Assets (3)			10.61			9.66		7.35
Tangible Common Equity as a Percentage of Risk Weighted Assets (3)			12.78			12.07		8.82
Book Value Per Common Share (4) (5)			2.89			2.99		2.11
Tangible Book Value Per Common Share (3) (5)			2.86			2.95		2.07
(1) Current quarter regulatory capital information is preliminary.
(2) Common equity consists of Total Shareholders’ Equity less 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 Preferred Stock divided by total common shares outstanding.
(5) September 30, 2013 includes addition to common shares from the final settlement of tangible equity units (tMEDS) of 122.8 million shares. Equity and common shares for prior periods exclude impact of unexercised tangible equity units (tMEDs).

EX-99.3

Exhibit 99.3