Exhibit 99.2
SYNOVUS |
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| 4 of 9 |
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INCOME STATEMENT |
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(In thousands, except per share data) |
| 2005 |
| 2004 |
| 1st Quarter |
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| First |
| Fourth |
| Third |
| Second |
| First |
| '05 vs. '04 |
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| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change |
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Interest Income (Taxable Equivalent) | $ | 332,927 |
| 314,019 |
| 301,457 |
| 279,013 |
| 271,491 |
| 22.6 | % |
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Interest Expense |
| 104,444 |
| 88,281 |
| 76,313 |
| 66,804 |
| 66,944 |
| 56.0 |
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Net Interest Income (Taxable Equivalent) |
| 228,483 |
| 225,738 |
| 225,144 |
| 212,209 |
| 204,547 |
| 11.7 |
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Tax Equivalent Adjustment |
| 1,621 |
| 1,703 |
| 1,710 |
| 1,747 |
| 1,800 |
| (9.9) |
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Net Interest Income |
| 226,862 |
| 224,035 |
| 223,434 |
| 210,462 |
| 202,747 |
| 11.9 |
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Provision for Loan Losses |
| 19,283 |
| 20,855 |
| 21,192 |
| 17,548 |
| 15,724 |
| 22.6 |
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Net Interest Income After Provision |
| 207,579 |
| 203,180 |
| 202,242 |
| 192,914 |
| 187,023 |
| 11.0 |
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Non-Interest Income: |
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Electronic Payment Processing Services |
| 205,163 |
| 197,129 |
| 197,822 |
| 183,731 |
| 176,586 |
| 16.2 |
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Merchant Services |
| 27,105 |
| 6,411 |
| 6,518 |
| 6,876 |
| 6,364 |
| 325.9 |
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Other Transaction Processing Services Revenue |
| 48,514 |
| 45,224 |
| 43,006 |
| 41,827 |
| 40,848 |
| 18.8 |
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Service Charges on Deposits |
| 27,039 |
| 30,226 |
| 31,257 |
| 31,188 |
| 28,432 |
| (4.9) |
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Fiduciary and Asset Management Fees |
| 11,037 |
| 11,326 |
| 10,622 |
| 10,485 |
| 10,568 |
| 4.4 |
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Brokerage and Investment Banking Revenue |
| 6,263 |
| 5,361 |
| 5,012 |
| 5,616 |
| 5,759 |
| 8.8 |
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Mortgage Banking Income |
| 5,898 |
| 6,773 |
| 6,861 |
| 5,772 |
| 6,894 |
| (14.4) |
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Credit Card Fees |
| 7,646 |
| 8,379 |
| 8,097 |
| 7,509 |
| 6,040 |
| 26.6 |
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Securities Gains (Losses) |
| 271 |
| 164 |
| (24) |
| - |
| (65) |
| nm |
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Other Fee Income |
| 7,486 |
| 7,654 |
| 7,451 |
| 7,202 |
| 6,920 |
| 8.2 |
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Other Non-Interest Income |
| 9,519 |
| 12,653 |
| 11,361 |
| 15,341 |
| 28,299 |
| (66.4) |
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Non-Interest Income before Reimbursable Items |
| 355,941 |
| 331,300 |
| 327,983 |
| 315,547 |
| 316,645 |
| 12.4 |
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Reimbursable Items |
| 69,169 |
| 57,039 |
| 56,309 |
| 55,745 |
| 60,445 |
| 14.4 |
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Total Non-Interest Income |
| 425,110 |
| 388,339 |
| 384,292 |
| 371,292 |
| 377,090 |
| 12.7 |
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Non-Interest Expense: |
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Personnel Expense |
| 189,829 |
| 175,369 |
| 194,624 |
| 174,955 |
| 186,631 |
| 1.7 |
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Occupancy & Equipment Expense |
| 86,634 |
| 77,039 |
| 80,073 |
| 86,187 |
| 78,390 |
| 10.5 |
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Other Non-Interest Expense |
| 92,607 |
| 88,639 |
| 74,699 |
| 74,365 |
| 67,857 |
| 36.5 |
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Non-Interest Expense before Reimbursable Items |
| 369,070 |
| 341,047 |
| 349,396 |
| 335,507 |
| 332,878 |
| 10.9 |
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Reimbursable Items |
| 69,170 |
| 57,039 |
| 56,309 |
| 55,745 |
| 60,445 |
| 14.4 |
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Total Non-Interest Expense |
| 438,240 |
| 398,086 |
| 405,705 |
| 391,252 |
| 393,323 |
| 11.4 |
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Minority Interest in Consolidated Subsidiaries |
| 8,832 |
| 8,143 |
| 7,480 |
| 6,852 |
| 6,249 |
| 41.3 |
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Income Before Taxes |
| 185,617 |
| 185,290 |
| 173,349 |
| 166,102 |
| 164,541 |
| 12.8 |
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Income Tax Expense |
| 68,883 |
| 66,568 |
| 64,341 |
| 60,961 |
| 60,379 |
| 14.1 |
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Net Income | $ | 116,734 |
| 118,722 |
| 109,008 |
| 105,141 |
| 104,162 |
| 12.1 |
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Basic Earnings Per Share |
| 0.38 |
| 0.38 |
| 0.35 |
| 0.34 |
| 0.34 |
| 9.6 |
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Diluted Earnings Per Share |
| 0.37 |
| 0.38 |
| 0.35 |
| 0.34 |
| 0.34 |
| 9.6 |
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Dividends Declared Per Share |
| 0.18 |
| 0.17 |
| 0.17 |
| 0.17 |
| 0.17 |
| 5.3 |
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Return on Assets |
| 1.86 | % | 1.91 | % | 1.82 | % | 1.86 | % | 1.91 | % | (5) | bp |
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Return on Equity |
| 17.52 |
| 17.92 |
| 17.00 |
| 17.60 |
| 18.00 |
| (48) |
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Average Shares Outstanding - Basic |
| 310,622 |
| 309,740 |
| 309,448 |
| 306,180 |
| 303,644 |
| 2.3 | % |
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Average Shares Outstanding - Diluted |
| 313,900 |
| 313,268 |
| 312,343 |
| 308,857 |
| 306,812 |
| 2.3 |
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bp - change is measured as difference in basis points.
mn - not meaningful
SYNOVUS |
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| 5 of 9 |
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Financial Services Segment |
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INCOME STATEMENT |
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(In thousands) |
| 2005 |
| 2004 |
| 1st Quarter |
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| Fourth |
| Third |
| Second |
| First |
| '05 vs. '04 |
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| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change |
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Interest Income (Taxable Equivalent) | $ | 332,927 |
| 314,008 |
| 301,458 |
| 279,010 |
| 271,486 |
| 22.6 | % | |||||||||||
Interest Expense |
| 105,188 |
| 88,933 |
| 76,502 |
| 66,964 |
| 67,090 |
| 56.8 |
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Net Interest Income (Taxable Equivalent) |
| 227,739 |
| 225,075 |
| 224,956 |
| 212,046 |
| 204,396 |
| 11.4 |
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Tax Equivalent Adjustment |
| 1,614 |
| 1,691 |
| 1,710 |
| 1,744 |
| 1,796 |
| (10.1) |
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Net Interest Income |
| 226,125 |
| 223,384 |
| 223,246 |
| 210,302 |
| 202,600 |
| 11.6 |
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Provision for Loan Losses |
| 19,283 |
| 20,855 |
| 21,192 |
| 17,548 |
| 15,724 |
| 22.6 |
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Net Interest Income After Provision |
| 206,842 |
| 202,529 |
| 202,054 |
| 192,754 |
| 186,876 |
| 10.7 |
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Non-Interest Income: |
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Service Charges on Deposits |
| 27,039 |
| 30,226 |
| 31,257 |
| 31,188 |
| 28,432 |
| (4.9) |
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Fiduciary and Asset Management Fees |
| 11,044 |
| 11,538 |
| 10,834 |
| 10,675 |
| 10,710 |
| 3.1 |
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Brokerage and Investment Banking Revenue |
| 6,263 |
| 5,361 |
| 5,012 |
| 5,616 |
| 5,759 |
| 8.8 |
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Mortgage Banking Income |
| 5,898 |
| 6,773 |
| 6,861 |
| 5,772 |
| 6,894 |
| (14.4) |
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Credit Card Fees |
| 7,646 |
| 8,379 |
| 8,097 |
| 7,509 |
| 6,040 |
| 26.6 |
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Securities Gains (Losses) |
| 271 |
| 164 |
| (24) |
| - |
| (65) |
| nm |
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Other Fee Income |
| 7,487 |
| 7,654 |
| 7,451 |
| 7,202 |
| 6,920 |
| 8.2 |
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Other Non-Interest Income |
| 8,923 |
| 10,826 |
| 7,211 |
| 11,409 |
| 25,760 |
| (65.4) |
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Total Non-Interest Income |
| 74,571 |
| 80,921 |
| 76,699 |
| 79,371 |
| 90,450 |
| (17.6) |
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Non-Interest Expense: |
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Personnel Expense |
| 90,747 |
| 82,601 |
| 93,631 |
| 91,283 |
| 96,999 |
| (6.4) |
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Occupancy & Equipment Expense |
| 21,547 |
| 21,305 |
| 21,156 |
| 20,004 |
| 19,691 |
| 9.4 |
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Other Non-Interest Expense |
| 45,541 |
| 50,677 |
| 42,764 |
| 42,310 |
| 39,254 |
| 16.0 |
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Total Non-Interest Expense |
| 157,835 |
| 154,583 |
| 157,551 |
| 153,597 |
| 155,944 |
| 1.2 |
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Income Before Taxes |
| 123,578 |
| 128,867 |
| 121,202 |
| 118,528 |
| 121,382 |
| 1.8 |
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Income Tax Expense |
| 44,203 |
| 44,992 |
| 43,935 |
| 42,486 |
| 43,625 |
| 1.3 |
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Net Income | $ | 79,375 |
| 83,875 |
| 77,267 |
| 76,042 |
| 77,757 |
| 2.1 |
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Return on Assets |
| 1.33 | % | 1.41 | % | 1.35 | % | 1.41 | % | 1.49 | % | (16) | bp | |||||||||||
Return on Equity |
| 16.19 |
| 17.09 |
| 16.20 |
| 17.26 |
| 18.18 |
| (199) |
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bp - change is measured as difference in basis points.
mn - not meaningful
SYNOVUS |
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| 6 of 9 |
BALANCE SHEET |
| March 31, 2005 |
| December 31, 2004 |
| March 30, 2004 |
(In thousands, except share data) |
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ASSETS |
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Cash and due from banks | $ | 722,306 |
| 683,035 |
| 622,896 |
Interest earning deposits with banks |
| 4,274 |
| 4,153 |
| 4,124 |
Federal funds sold and securities purchased |
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under resale agreements |
| 136,227 |
| 135,471 |
| 154,859 |
Mortgage loans held for sale |
| 127,664 |
| 120,186 |
| 152,672 |
Investment securities available for sale |
| 2,725,561 |
| 2,695,593 |
| 2,621,576 |
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Loans, net of unearned income |
| 20,056,295 |
| 19,480,396 |
| 17,012,828 |
Allowance for loan losses |
| (273,724) |
| (265,745) |
| (236,056) |
Loans, net |
| 19,782,571 |
| 19,214,651 |
| 16,776,772 |
Premises and equipment, net |
| 651,830 |
| 638,407 |
| 598,628 |
Contract acquisition costs and computer software, net |
| 459,023 |
| 401,074 |
| 376,002 |
Goodwill, net |
| 459,505 |
| 416,283 |
| 248,870 |
Other intangible assets, net |
| 51,486 |
| 41,628 |
| 32,474 |
Other assets |
| 731,938 |
| 699,697 |
| 697,474 |
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Total assets | $ | 25,852,385 |
| 25,050,178 |
| 22,286,347 |
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LIABILITIES AND SHAREHOLDERS' EQUITY |
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Liabilities: |
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Deposits: |
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Non-interest bearing | $ | 3,380,497 |
| 3,337,908 |
| 2,957,681 |
Interest bearing |
| 15,733,775 |
| 15,239,560 |
| 13,256,627 |
Total deposits |
| 19,114,272 |
| 18,577,468 |
| 16,214,308 |
Federal funds purchased and securities sold |
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under repurchase agreements |
| 1,425,819 |
| 1,208,080 |
| 1,503,133 |
Long-term debt |
| 1,915,140 |
| 1,879,583 |
| 1,641,856 |
Billings in excess of costs on uncompleted contracts |
| - |
| - |
| 10,824 |
Other liabilities |
| 523,264 |
| 576,474 |
| 409,959 |
Total liabilities |
| 22,978,495 |
| 22,241,605 |
| 19,780,080 |
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Minority interest in consolidated subsidiaries |
| 175,019 |
| 167,284 |
| 147,843 |
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Shareholders' equity: |
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Common stock, par value $1.00 a share (1) |
| 316,682 |
| 315,636 |
| 310,094 |
Surplus |
| 648,715 |
| 628,396 |
| 494,670 |
Treasury stock (2) |
| (113,944) |
| (113,944) |
| (113,940) |
Unearned compensation |
| (3,369) |
| (106) |
| (226) |
Accumulated other comprehensive income |
| (11,586) |
| 8,903 |
| 37,418 |
Retained earnings |
| 1,862,373 |
| 1,802,404 |
| 1,630,408 |
Total shareholders' equity |
| 2,698,871 |
| 2,641,289 |
| 2,358,424 |
Total liabilities and shareholders' equity | $ | 25,852,385 |
| 25,050,178 |
| 22,286,347 |
(1) Common shares outstanding: 311,020,558;309,974,509; and 304,436,069 at March 31, 2005; December 31, 204, and March 31, 2004, respectively.
(2) Treasury shares; 5,661,538 at March 31, 2005, 5,661,538 at December 31, 204, and 5,658,005 at March 31, 2004.
SYNOVUS |
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AVERAGE BALANCES AND YIELDS/RATES |
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| 7 of 9 | ||
(Dollars in thousands) |
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| 2005 |
| 2004 | |||
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| First |
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| Quarter | Quarter | Quarter | Quarter |
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Taxable Investment Securities | $ | 2,553,423 |
| 2,408,960 | 2,382,319 | 2,355,328 | 2,319,280 | |
| Yield |
| 3.74 | % | 3.69 | 3.72 | 3.71 | 3.86 |
Tax-Exempt Investment Securities | $ | 223,812 |
| 229,190 | 233,271 | 230,885 | 229,905 | |
| Yield |
| 6.93 | % | 6.99 | 6.92 | 7.14 | 7.14 |
Commercial Loans | $ | 16,604,087 |
| 16,029,042 | 15,385,995 | 14,567,795 | 13,991,230 | |
| Yield |
| 6.15 | % | 5.85 | 5.79 | 5.66 | 5.67 |
Consumer Loans | $ | 846,743 |
| 948,273 | 958,540 | 967,450 | 1,003,595 | |
| Yield |
| 7.42 | % | 7.32 | 8.03 | 8.00 | 8.03 |
Mortgage Loans | $ | 1,026,532 |
| 954,078 | 936,240 | 856,688 | 823,625 | |
| Yield |
| 3.09 | % | 3.04 | 5.89 | 5.92 | 3.01 |
Credit Card Loans | $ | 261,202 |
| 260,523 | 248,755 | 245,534 | 241,415 | |
| Yield |
| 9.82 | % | 8.84 | 8.93 | 8.53 | 9.28 |
Home Equity Loans | $ | 1,037,214 |
| 973,604 | 890,867 | 790,238 | 719,915 | |
| Yield |
| 5.56 | % | 5.08 | 4.61 | 4.45 | 4.50 |
Allowance for Loan Losses | $ | (270,853) |
| (262,711) | (252,370) | (241,082) | (231,822) | |
Loans, Net | $ | 19,504,925 |
| 18,902,809 | 18,168,027 | 17,186,623 | 16,547,958 | |
| Yield |
| 6.31 | % | 3.01 | 5.97 | 5.87 | 5.91 |
Mortgage Loans Held for Sale | $ | 87,538 |
| 103,594 | 112,502 | 148,471 | 105,557 | |
| Yield |
| 6.15 | % | 5.75 | 6.15 | 5.27 | 5.33 |
Federal Funds Sold | $ | 115,990 |
| 102,852 | 162,580 | 158,373 | 171,284 | |
| Yield |
| 2.44 | % | 2.06 | 1.23 | 1.04 | 1.10 |
Time Deposits with Banks | $ | 3,863 |
| 4,144 | 4,136 | 4,137 | 4,372 | |
| Yield |
| 1.84 | % | 1.32 | 0.80 | 0.45 | 0.46 |
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Total Interest Earning Assets | $ | 22,489,551 |
| 21,751,549 | 21,062,836 | 20,083,817 | 19,378,354 | |
| Yield |
| 5.99 | % | 5.75 | 5.69 | 5.58 | 5.63 |
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Interest Bearing Liabilities |
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Time Deposits Over $100,000 (less brokered |
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time deposits) | $ | 2,392,957 |
| 2,329,295 | 2,284,772 | 2,185,597 | 2,231,585 | |
| Rate |
| 2.77 | % | 2.54 | 2.33 | 2.31 | 2.36 |
Brokered Time Deposits | $ | 2,487,264 |
| 2,066,938 | 1,851,198 | 1,603,826 | 1,396,770 | |
| Rate |
| 2.94 | % | 2.60 | 2.38 | 2.08 | 2.18 |
Time Deposits Under $100,000 | $ | 2,197,788 |
| 2,194,194 | 2,209,883 | 2,225,224 | 2,266,593 | |
| Rate |
| 2.47 | % | 2.29 | 2.18 | 2.21 | 2.28 |
Interest Bearing Demand Deposits | $ | 2,980,346 |
| 2,848,978 | 2,716,488 | 2,773,020 | 2,709,479 | |
| Rate |
| 0.96 | % | 0.72 | 0.60 | 0.54 | 0.56 |
Money Market Accounts | $ | 4,754,130 |
| 4,765,591 | 4,778,276 | 4,300,823 | 4,073,084 | |
| Rate |
| 1.90 | % | 1.51 | 1.23 | 1.04 | 1.03 |
Savings Deposits | $ | 556,629 |
| 547,026 | 555,969 | 551,037 | 540,853 | |
| Rate |
| 0.27 | % | 0.21 | 0.17 | 0.17 | 0.18 |
Federal Funds Purchased and Other |
|
|
|
|
|
|
| |
Short-Term Borrowings | $ | 1,541,396 |
| 1,488,555 | 1,422,598 | 1,513,306 | 1,495,333 | |
| Rate |
| 2.34 | % | 1.83 | 1.40 | 1.00 | 0.98 |
Long-Term Debt | $ | 1,877,158 |
| 1,821,889 | 1,747,788 | 1,667,441 | 1,635,648 | |
| Rate |
| 3.84 | % | 3.63 | 3.51 | 3.53 | 3.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest Bearing Liabilities | $ | 18,787,668 |
| 18,062,466 | 17,566,972 | 16,820,274 | 16,349,345 | |
| Rate |
| 2.25 | % | 1.94 | 1.72 | 1.59 | 1.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Interest Bearing Demand Deposits | $ | 3,267,679 |
| 3,516,878 | 3,137,357 | 3,006,493 | 2,769,367 | |
Shareholders' Equity | $ | 2,701,585 |
| 2,635,188 | 2,550,346 | 2,402,271 | 2,327,319 | |
Total Assets | $ | 25,392,540 |
| 24,921,847 | 23,778,250 | 22,705,467 | 21,913,168 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spread |
| 3.75 | % | 3.81 | 3.97 | 3.99 | 3.99 | |
Net Interest Margin, before fees |
| 3.98 | % | 3.98 | 3.90 | 3.89 | 3.91 | |
Net Interest Margin, after fees |
| 4.11 | % | 4.13 | 4.25 | 4.24 | 4.24 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
|
|
|
| 8 of 9 | |
|
|
|
|
|
|
|
|
|
| |
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION |
|
|
|
|
| |||||
(Dollars in thousands) |
|
|
|
|
|
|
|
|
| |
|
| March 31, 2005 | ||||||||
|
|
|
|
|
|
|
|
|
| |
|
|
|
| Loans as a % |
|
| Total |
| Nonperforming Loans | |
|
|
|
| of Total Loans |
|
| Nonperforming |
| as a % of Total | |
Loan Type |
| Total Loans |
| Outstanding |
|
| Loans |
| Nonperforming Loans | |
|
|
|
|
|
|
|
|
|
| |
Commercial Real Estate |
|
|
|
|
|
|
|
|
| |
Multi-Family | $ | 534,523 |
| 2.7 | % | $ | 353 |
| 0.5 | % |
Hotels |
| 838,300 |
| 4.2 |
|
| 1,262 |
| 1.6 | |
Office Buildings |
| 788,163 |
| 3.9 |
|
| 5 |
| 0.0 | |
Shopping Centers |
| 642,263 |
| 3.2 |
|
| 330 |
| 0.4 | |
Commercial Development |
| 719,782 |
| 3.6 |
|
| 39 |
| 0.1 | |
Other Investment Property |
| 300,153 |
| 1.5 |
|
| 87 |
| 0.1 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total Investment Properties |
| 3,823,184 |
| 19.1 |
|
| 2,076 |
| 2.7 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
1-4 Family Construction |
| 1,312,608 |
| 6.5 |
|
| 548 |
| 0.7 | |
1-4 Family Perm / Mini-Perm |
| 1,067,093 |
| 5.3 |
|
| 3,614 |
| 4.7 | |
Residential Development |
| 1,160,685 |
| 5.8 |
|
| 531 |
| 0.7 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total 1-4 Family Properties |
| 3,540,386 |
| 17.7 |
|
| 4,693 |
| 6.1 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Land Acquisition |
| 935,517 |
| 4.7 |
|
| 40 |
| 0.0 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total Investment-Related Real Estate |
| 8,299,087 |
| 41.4 |
|
| 6,809 |
| 8.8 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Owner-Occupied |
| 2,313,729 |
| 11.5 |
|
| 11,025 |
| 14.3 | |
Other Property |
| 1,164,962 |
| 5.8 |
|
| 9,715 |
| 12.6 | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total Commercial Real Estate |
| 11,777,778 |
| 58.7 |
|
| 27,549 |
| 35.7 | |
|
|
|
|
|
|
|
|
|
| |
Commercial & Industrial |
| 5,128,840 |
| 25.6 |
|
| 39,736 |
| 51.3 | |
|
|
|
|
|
|
|
|
|
| |
Consumer |
| 3,192,734 |
| 15.9 |
|
| 10,023 |
| 13.0 | |
|
|
|
|
|
|
|
|
|
| |
Unearned Income |
| (43,057) |
| (0.2) |
|
| - |
| - | |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total | $ | 20,056,295 |
| 100.0 | % | $ | 77,308 |
| 100.0 | % |
|
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
|
|
|
|
|
|
| 9 of 9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
| 2005 |
| 2004 |
| 1st Quarter | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| First |
| Fourth |
| Third |
| Second |
| First |
| '05 vs. '04 | |
|
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming Loans | $ | 77,308 |
| 80,456 |
| 79,776 |
| 67,489 |
| 70,007 |
| 10.4 | % |
Other Real Estate |
| 26,658 |
| 21,492 |
| 25,424 |
| 26,972 |
| 26,061 |
| 2.3 |
|
Nonperforming Assets |
| 103,966 |
| 101,948 |
| 105,200 |
| 94,461 |
| 96,068 |
| 8.2 |
|
Allowance for Loan Losses |
| 273,724 |
| 265,745 |
| 257,647 |
| 248,585 |
| 236,056 |
| 16.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Charge-Offs - Quarter |
| 11,305 |
| 12,757 |
| 12,130 |
| 9,589 |
| 6,773 |
| 66.9 |
|
Net Charge-Offs - YTD |
| 11,305 |
| 41,249 |
| 28,492 |
| 16,362 |
| 6,773 |
| 66.9 |
|
Net Charge-Offs / Average Loans - Quarter |
| 0.23 |
| 0.27 |
| 0.26 |
| 0.22 |
| 0.16 |
|
|
|
Net Charge-Offs / Average Loans - YTD |
| 0.23 |
| 0.23 |
| 0.22 |
| 0.19 |
| 0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming Loans / Loans & ORE |
| 0.39 |
| 0.41 |
| 0.42 |
| 0.37 |
| 0.41 |
|
|
|
Nonperforming Assets / Loans & ORE |
| 0.52 |
| 0.52 |
| 0.56 |
| 0.52 |
| 0.56 |
|
|
|
Allowance / Loans |
| 1.36 |
| 1.36 |
| 1.37 |
| 1.38 |
| 1.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance / Nonperforming Loans |
| 354.07 |
| 330.30 |
| 322.96 |
| 368.34 |
| 337.19 |
|
|
|
Allowance / Nonperforming Assets |
| 263.28 |
| 260.67 |
| 244.91 |
| 263.16 |
| 245.72 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Past Due Loans over 90 days |
| 14,376 |
| 18,138 |
| 23,178 |
| 27,453 |
| 23,295 |
|
|
|
As a Percentage of Loans Outstanding |
| 0.07 |
| 0.09 |
| 0.12 |
| 0.15 |
| 0.14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Past Dues |
| 122,229 |
| 84,458 |
| 118,390 |
| 109,385 |
| 129,844 |
|
|
|
As a Percentage of Loans Outstanding |
| 0.61 |
| 0.43 |
| 0.63 |
| 0.61 |
| 0.76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REGULATORY CAPITAL RATIOS (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| March 31, 2005 |
| December 31, 2004 |
| March 31, 2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 Capital | $ | 2,399,558 |
| 2,369,332 |
| 2,149,170 |
|
|
|
|
|
|
|
Total Risk-Based Capital |
| 2,973,282 |
| 2,935,077 |
| 2,685,226 |
|
|
|
|
|
|
|
Tier 1 Capital Ratio |
| 9.87 |
| 10.04 |
| 10.34 |
|
|
|
|
|
|
|
Total Risk-Based Capital Ratio |
| 12.23 |
| 12.44 |
| 12.91 |
|
|
|
|
|
|
|
Leverage Ratio |
| 9.64 |
| 9.78 |
| 9.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) March 31, 2005 information is preliminary. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|