Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only)

Condensed Financial Information of Synovus Financial Corp.(Parent Company only)

Condensed Balance Sheets
	December 31,
(in thousands)	2012			2011
Assets
Cash due from bank subsidiary	$	360,426		278,071
Funds due from other depository institutions(1)	21,712			33,431
Investment in consolidated bank subsidiary, at equity	3,728,704			2,998,006
Net accumulated deficit in consolidated nonbank subsidiaries, at equity(2)	(208,183		)	(279,962	)
Notes receivable from nonbank subsidiaries	443,935			493,800
Other assets	104,848			55,103
Total assets	$	4,451,442		3,578,449
Liabilities and Shareholders' Equity
Liabilities:
Long-term debt	$	841,667		726,167
Other liabilities	40,344			24,830
Total liabilities	882,011			750,997
Shareholders’ equity:
Series A Preferred Stock	957,327			947,017
Common stock	792,273			790,989
Additional paid-in capital	2,189,874			2,241,171
Treasury stock	(114,176		)	(114,176	)
Accumulated other comprehensive income	4,101			21,093
Accumulated deficit	(259,968		)	(1,058,642	)
Total shareholders’ equity	3,569,431			2,827,452
Total liabilities and shareholders’ equity	$	4,451,442		3,578,449

⁽¹⁾ Restricted as to withdrawal.

⁽²⁾ Includes non-bank subsidiary formed during 2008 that has incurred credit losses, including losses on the disposition of non-performing assets.

Condensed Statements of Operations
	Years Ended December 31,
(in thousands)	2012			2011		2010
Income
Cash dividends received from bank subsidiaries	$	—		—		43,874
Management and information technology fees from  subsidiaries	—			—		185,279
Interest income	18,424			30,057		36,074
Other income	11,343			(141	)	8,922
Total income	29,767			29,916		274,149
Expenses
Interest expense	47,975			34,767		33,809
Other expenses	16,584			14,177		224,100
Total expenses	64,559			48,944		257,909
(Loss) income before income taxes and equity in undistributed net  income (loss) of subsidiaries	(34,792		)	(19,028	)	16,240
Allocated income tax benefit	(54,184		)	(13,715	)	(153,729	)
Income (loss) before equity in undistributed net income  (loss) of subsidiaries	19,392			(5,313	)	169,969
Equity in undistributed net income (loss) of subsidiaries	810,817			(55,311	)	(1,003,809	)
Income (loss) from continuing operations	830,209			(60,624	)	(833,840	)
Income from discontinued operations, net of income taxes	—			—		43,162
Net income (loss) available to controlling interest	830,209			(60,624	)	(790,678	)
Dividends and accretion of discount on Series A Preferred Stock	58,703			58,088		57,510
Net income (loss) available to common shareholders	$	771,506		(118,712	)	(848,188	)

Condensed Statements of Cash Flows
	Years Ended December 31,
(in thousands)	2012			2011		2010
Operating Activities
Net income (loss) available to controlling interest	$	830,209		(60,624	)	(790,678	)
Adjustments to reconcile net income (loss) to net cash  provided by operating activities:
Equity in undistributed (income) loss of subsidiaries	(810,817		)	55,311		960,647
Deferred income tax benefit	(48,525		)	—		(288,430	)
Share-based compensation	—			—		7,158
Net increase (decrease) in other liabilities	23,367			(23,162	)	(308,126	)
Net (increase) decrease in other assets	(1,255		)	(4,780	)	412,290
Other, net	(6,337		)	(6,912	)	(61,934	)
Net cash used in operating activities	(13,358		)	(40,167	)	(69,073	)
Investing Activities
Net investment from (in) subsidiaries	—			10,000		(894,813	)
Purchases of investment securities available for sale	—			(18,313	)	—
Proceeds from sales of investment securities available for sale	—			49,551		—
Net decrease (increase) in short-term notes receivable from  non-bank subsidiaries	49,865			107,944		(204,225	)
Net cash provided by (used in) investing activities	49,865			149,182		(1,099,038	)
Financing Activities
Dividends paid to common and preferred shareholders	(79,856		)	(79,813	)	(73,896	)
Transfer of funds to dividend payment agent	(7,853		)	—		—
Principal repayments on long-term debt	(170,801		)	(21,701	)	(10,425	)
Purchase of treasury shares	—			—		(21	)
Proceeds from issuance of long-term debt	292,639			—		70,355
Proceeds from issuance of prepaid common stock purchase  contracts	—			—		265,503
Proceeds from issuance of common stock	—			—		769,176
Net cash provided (used in) by financing activities	34,129			(101,514	)	1,020,692
Increase (decrease) in cash and funds due from banks	70,636			7,501		(147,419	)
Cash and funds due from banks at beginning of year	311,502			304,001		451,420
Cash and funds due from banks at end of year	$	382,138		311,502		304,001

For the years ended December 31, 2012, 2011, and 2010, the Parent Company received income tax refunds, net of income taxes paid, of $7.8 million, $5.1 million, and $323.2 million, respectively. For the years ended December 31, 2012, 2011, and 2010, the Parent Company paid interest of $51.3 million, $39.8 million, and $38.8 million, respectively.