Exhibit 99.2
| Synovus |
|
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|
|
| 4 of 11 | |||
|
| INCOME STATEMENT |
| Six Months Ended |
|
| |||||
|
| (In thousands, except per share data) |
| June 30, |
|
| |||||
|
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|
|
| 2006 |
| 2005 |
| Change |
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| |
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|
|
| Interest Income (Taxable Equivalent) | $ | 940,168 |
| 693,692 |
| 35.5 | % |
|
|
|
| Interest Expense |
| 387,567 |
| 226,554 |
| 71.1 |
|
|
|
|
|
|
|
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|
|
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|
|
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|
|
| Net Interest Income (Taxable Equivalent) |
| 552,601 |
| 467,138 |
| 18.3 |
|
|
|
|
| Tax Equivalent Adjustment |
| 2,962 |
| 3,211 |
| (7.7) |
|
|
|
|
|
|
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|
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|
|
|
|
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|
|
|
|
|
|
|
| Net Interest Income |
| 549,639 |
| 463,927 |
| 18.5 |
|
|
|
|
| Provision for Loan Losses |
| 38,083 |
| 42,106 |
| (9.6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
| Net Interest Income After Provision |
| 511,556 |
| 421,821 |
| 21.3 |
|
|
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|
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|
|
|
|
|
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|
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|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
| Electronic Payment Processing Services |
| 454,990 |
| 420,947 |
| 8.1 |
|
|
|
|
| Merchant Services |
| 129,769 |
| 95,801 |
| 35.5 |
|
|
|
|
| Other Transaction Processing Services Revenue |
| 91,588 |
| 93,838 |
| (2.4) |
|
|
|
|
| Service Charges on Deposits |
| 56,123 |
| 54,994 |
| 2.1 |
|
|
|
|
| Fiduciary and Asset Management Fees |
| 23,222 |
| 22,175 |
| 4.7 |
|
|
|
|
| Brokerage and Investment Banking Revenue |
| 13,506 |
| 12,070 |
| 11.9 |
|
|
|
|
| Mortgage Banking Income |
| 13,978 |
| 13,328 |
| 4.9 |
|
|
|
|
| Bankcard Fees |
| 21,527 |
| 17,691 |
| 21.7 |
|
|
|
|
| Securities Gains (Losses) |
| (1,136) |
| 598 |
| nm |
|
|
|
|
| Other Fee Income |
| 18,988 |
| 15,319 |
| 23.9 |
|
|
|
|
| Other Non-Interest Income |
| 18,435 |
| 16,311 |
| 13.0 |
|
|
|
|
|
|
|
|
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|
|
|
|
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| Non-Interest Income before Reimbursable Items |
| 840,990 |
| 763,072 |
| 10.2 |
|
|
|
|
| Reimbursable Items |
| 168,638 |
| 148,330 |
| 13.7 |
|
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|
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| Total Non-Interest Income |
| 1,009,628 |
| 911,402 |
| 10.8 |
|
|
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|
|
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|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 461,605 |
| 398,425 |
| 15.9 |
|
|
|
|
| Occupancy & Equipment Expense |
| 197,195 |
| 175,473 |
| 12.4 |
|
|
|
|
| Other Non-Interest Expense |
| 218,770 |
| 202,623 |
| 8.0 |
|
|
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|
| Non-Interest Expense before Reimbursable Items |
| 877,570 |
| 776,521 |
| 13.0 |
|
|
|
|
| Reimbursable Items |
| 168,638 |
| 148,330 |
| 13.7 |
|
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|
| Total Non-Interest Expense |
| 1,046,208 |
| 924,851 |
| 13.1 |
|
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|
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|
|
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|
|
| Minority Interest in Consolidated Subsidiaries |
| 20,905 |
| 18,504 |
| 13.0 |
|
|
|
|
| Income Before Taxes |
| 454,071 |
| 389,868 |
| 16.5 |
|
|
|
|
| Income Tax Expense |
| 166,767 |
| 144,674 |
| 15.3 |
|
|
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|
|
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|
|
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|
|
| Net Income | $ | 287,304 |
| 245,194 |
| 17.2 |
|
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|
| Basic Earnings Per Share | $ | 0.90 |
| 0.79 |
| 14.5 |
|
|
|
|
| Diluted Earnings Per Share |
| 0.90 |
| 0.78 |
| 14.8 |
|
|
|
|
| Dividends Declared Per Share |
| 0.39 |
| 0.37 |
| 6.8 |
|
|
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|
| Return on Assets |
| 2.02 | % | 1.92 |
| 10 | bp |
|
|
|
| Return on Equity |
| 18.25 |
| 18.12 |
| 13 |
|
|
|
|
| Average Shares Outstanding - Basic |
| 318,236 |
| 310,890 |
| 2.4 | % |
|
|
|
| Average Shares Outstanding - Diluted |
| 320,840 |
| 314,297 |
| 2.1 |
|
|
|
bp - change is measured as difference in basis points. |
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| ||
nm - not meaningful |
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|
Synovus |
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|
| 5 of 11 |
| |||
| INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| (In thousands, except per share data) |
| 2006 |
| 2005 |
| 2nd Quarter |
|
| |||||||
|
|
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|
| ||||||||||
|
|
| Second |
| First |
| Fourth |
| Third |
| Second |
| '06 vs. '05 |
|
| |
|
|
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change |
|
| |
|
|
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|
|
|
|
|
|
|
| |
| Interest Income (Taxable Equivalent) | $ | 499,191 |
| 440,977 |
| 420,898 |
| 388,076 |
| 360,763 |
| 38.4 | % |
| |
| Interest Expense |
| 210,510 |
| 177,057 |
| 159,237 |
| 141,587 |
| 122,110 |
| 72.4 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Net Interest Income (Taxable Equivalent) |
| 288,681 |
| 263,920 |
| 261,661 |
| 246,489 |
| 238,653 |
| 21.0 |
|
| |
| Tax Equivalent Adjustment |
| 1,478 |
| 1,484 |
| 1,566 |
| 1,664 |
| 1,588 |
| (6.9) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Net Interest Income |
| 287,203 |
| 262,436 |
| 260,095 |
| 244,825 |
| 237,065 |
| 21.1 |
|
| |
| Provision for Loan Losses |
| 18,534 |
| 19,549 |
| 20,787 |
| 19,639 |
| 22,823 |
| (18.8) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Net Interest Income After Provision |
| 268,669 |
| 242,887 |
| 239,308 |
| 225,186 |
| 214,242 |
| 25.4 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Electronic Payment Processing Services |
| 234,519 |
| 220,472 |
| 223,844 |
| 223,123 |
| 215,784 |
| 8.7 |
|
| |
| Merchant Services |
| 65,820 |
| 63,949 |
| 67,409 |
| 74,208 |
| 68,696 |
| (4.2) |
|
| |
| Other Transaction Processing Services Revenue |
| 46,463 |
| 45,125 |
| 45,544 |
| 44,030 |
| 45,324 |
| 2.5 |
|
| |
| Service Charges on Deposits |
| 29,409 |
| 26,712 |
| 28,572 |
| 28,598 |
| 28,004 |
| 5.0 |
|
| |
| Fiduciary and Asset Management Fees |
| 11,509 |
| 11,713 |
| 11,544 |
| 11,167 |
| 11,138 |
| 3.3 |
|
| |
| Brokerage and Investment Banking Revenue |
| 6,559 |
| 6,947 |
| 6,616 |
| 5,801 |
| 5,807 |
| 13.0 |
|
| |
| Mortgage Banking Income |
| 8,105 |
| 5,873 |
| 7,078 |
| 8,276 |
| 7,430 |
| 9.1 |
|
| |
| Bankcard Fees |
| 10,992 |
| 10,535 |
| 10,858 |
| 9,713 |
| 9,462 |
| 16.2 |
|
| |
| Securities Gains (Losses) |
| (1,062) |
| (73) |
| (135) |
| - |
| 327 |
| nm |
|
| |
| Other Fee Income |
| 10,038 |
| 8,950 |
| 9,377 |
| 8,217 |
| 7,834 |
| 28.1 |
|
| |
| Other Non-Interest Income |
| 9,263 |
| 9,172 |
| 6,689 |
| 12,599 |
| 7,325 |
| 26.5 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Non-Interest Income before Reimbursable Items |
| 431,615 |
| 409,375 |
| 417,396 |
| 425,732 |
| 407,131 |
| 6.0 |
|
| |
| Reimbursable Items |
| 86,138 |
| 82,500 |
| 84,306 |
| 79,644 |
| 79,161 |
| 8.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Total Non-Interest Income |
| 517,753 |
| 491,875 |
| 501,702 |
| 505,376 |
| 486,292 |
| 6.5 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Personnel Expense |
| 233,847 |
| 227,758 |
| 224,251 |
| 213,695 |
| 208,596 |
| 12.1 |
|
| |
| Occupancy & Equipment Expense |
| 99,495 |
| 97,700 |
| 93,965 |
| 98,772 |
| 88,839 |
| 12.0 |
|
| |
| Other Non-Interest Expense |
| 112,934 |
| 105,836 |
| 110,608 |
| 113,300 |
| 110,015 |
| 2.7 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Non-Interest Expense before Reimbursable Items |
| 446,276 |
| 431,294 |
| 428,824 |
| 425,767 |
| 407,450 |
| 9.5 |
|
| |
| Reimbursable Items |
| 86,138 |
| 82,500 |
| 84,306 |
| 79,644 |
| 79,161 |
| 8.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Total Non-Interest Expense |
| 532,414 |
| 513,794 |
| 513,130 |
| 505,411 |
| 486,611 |
| 9.4 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Minority Interest in Consolidated Subsidiaries |
| 11,165 |
| 9,740 |
| 9,571 |
| 9,306 |
| 9,672 |
| 15.4 |
|
| |
| Income Before Taxes |
| 242,843 |
| 211,228 |
| 218,309 |
| 215,845 |
| 204,251 |
| 18.9 |
|
| |
| Income Tax Expense |
| 90,046 |
| 76,722 |
| 81,049 |
| 81,853 |
| 75,791 |
| 18.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Net Income | $ | 152,797 |
| 134,506 |
| 137,260 |
| 133,992 |
| 128,460 |
| 18.9 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Basic Earnings Per Share | $ | 0.47 |
| 0.43 |
| 0.44 |
| 0.43 |
| 0.41 |
| 14.7 |
|
| |
| Diluted Earnings Per Share |
| 0.47 |
| 0.43 |
| 0.44 |
| 0.43 |
| 0.41 |
| 15.0 |
|
| |
| Dividends Declared Per Share |
| 0.20 |
| 0.20 |
| 0.18 |
| 0.18 |
| 0.18 |
| 6.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Return on Assets |
| 2.07 | % | 1.96 | % | 2.00 | % | 2.01 | % | 1.98 | % | 9 | bp |
| |
| Return on Equity |
| 18.45 |
| 17.88 |
| 18.74 |
| 18.77 |
| 18.70 |
| (25) |
|
| |
| Average Shares Outstanding - Basic |
| 322,783 |
| 313,639 |
| 312,298 |
| 311,842 |
| 311,154 |
| 3.7 | % |
| |
| Average Shares Outstanding - Diluted |
| 325,421 |
| 316,208 |
| 315,280 |
| 315,336 |
| 314,691 |
| 3.4 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
nm - not meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
| Synovus |
|
|
|
|
| 6 of 11 | ||||
| Financial Services Segment |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME STATEMENT |
| Six Months Ended |
|
| |||||
|
| (In thousands) |
| June 30, |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2006 |
| 2005 |
| Change |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 940,153 |
| 693,716 |
| 35.5 | % |
|
|
|
| Interest Expense |
| 391,043 |
| 227,956 |
| 71.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 549,110 |
| 465,760 |
| 17.9 |
|
|
|
|
| Tax Equivalent Adjustment |
| 2,947 |
| 3,199 |
| (7.9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 546,163 |
| 462,561 |
| 18.1 |
|
|
|
|
| Provision for Loan Losses |
| 38,083 |
| 42,106 |
| (9.6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 508,080 |
| 420,455 |
| 20.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
| Service Charges on Deposits |
| 56,123 |
| 54,994 |
| 2.1 |
|
|
|
|
| Fiduciary and Asset Management Fees |
| 23,629 |
| 22,368 |
| 5.6 |
|
|
|
|
| Brokerage and Investment Banking Revenue |
| 13,506 |
| 12,070 |
| 11.9 |
|
|
|
|
| Mortgage Banking Income |
| 13,978 |
| 13,328 |
| 4.9 |
|
|
|
|
| Bankcard Fees |
| 21,527 |
| 17,691 |
| 21.7 |
|
|
|
|
| Securities Gains (Losses) |
| (1,136) |
| 598 |
| nm |
|
|
|
|
| Other Fee Income |
| 18,988 |
| 15,319 |
| 23.9 |
|
|
|
|
| Other Non-Interest Income |
| 25,902 |
| 18,848 |
| 37.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 172,517 |
| 155,216 |
| 11.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 221,400 |
| 181,468 |
| 22.0 |
|
|
|
|
| Occupancy & Equipment Expense |
| 48,333 |
| 43,259 |
| 11.7 |
|
|
|
|
| Other Non-Interest Expense |
| 100,063 |
| 90,861 |
| 10.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 369,796 |
| 315,588 |
| 17.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Before Taxes |
| 310,801 |
| 260,083 |
| 19.5 |
|
|
|
|
| Income Tax Expense |
| 110,656 |
| 93,263 |
| 18.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income | $ | 200,145 |
| 166,820 |
| 20.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets |
| 1.47 | % | 1.37 |
| 10 | bp |
|
|
|
| Return on Equity |
| 17.38 |
| 16.81 |
| 57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
|
| |
| nm - not meaningful |
|
|
|
|
|
|
|
|
|
| Synovus |
|
|
|
|
|
|
|
|
|
|
| 7 of 11 |
| |
| Financial Services Segment |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
| 2006 |
| 2005 |
| 2nd Quarter |
| ||||||
|
|
|
|
|
|
| |||||||||
|
|
|
| Second |
| First |
| Fourth |
| Third |
| Second |
| '06 vs. '05 |
|
|
|
|
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 499,184 |
| 440,969 |
| 420,892 |
| 388,067 |
| 360,789 |
| 38.4 | % |
|
| Interest Expense |
| 212,499 |
| 178,544 |
| 160,509 |
| 142,582 |
| 122,768 |
| 73.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 286,685 |
| 262,425 |
| 260,383 |
| 245,485 |
| 238,021 |
| 20.4 |
|
|
| Tax Equivalent Adjustment |
| 1,471 |
| 1,476 |
| 1,558 |
| 1,655 |
| 1,585 |
| (7.2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 285,214 |
| 260,949 |
| 258,825 |
| 243,830 |
| 236,436 |
| 20.6 |
|
|
| Provision for Loan Losses |
| 18,534 |
| 19,549 |
| 20,787 |
| 19,639 |
| 22,823 |
| (18.8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 266,680 |
| 241,400 |
| 238,038 |
| 224,191 |
| 213,613 |
| 24.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Service Charges on Deposits |
| 29,409 |
| 26,712 |
| 28,572 |
| 28,598 |
| 28,004 |
| 5.0 |
|
|
| Fiduciary and Asset Management Fees |
| 11,720 |
| 11,910 |
| 11,728 |
| 11,357 |
| 11,324 |
| 3.5 |
|
|
| Brokerage and Investment Banking Revenue |
| 6,559 |
| 6,947 |
| 6,616 |
| 5,801 |
| 5,807 |
| 13.0 |
|
|
| Mortgage Banking Income |
| 8,105 |
| 5,873 |
| 7,078 |
| 8,276 |
| 7,430 |
| 9.1 |
|
|
| Bankcard Fees |
| 10,992 |
| 10,535 |
| 10,858 |
| 9,713 |
| 9,462 |
| 16.2 |
|
|
| Securities Gains (Losses) |
| (1,062) |
| (73) |
| (135) |
| - |
| 327 |
| nm |
|
|
| Other Fee Income |
| 10,038 |
| 8,950 |
| 9,377 |
| 8,216 |
| 7,834 |
| 28.1 |
|
|
| Other Non-Interest Income |
| 13,692 |
| 12,211 |
| 10,884 |
| 15,259 |
| 10,457 |
| 30.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 89,453 |
| 83,064 |
| 84,978 |
| 87,220 |
| 80,645 |
| 10.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 113,951 |
| 107,449 |
| 95,670 |
| 93,084 |
| 90,721 |
| 25.6 |
|
|
| Occupancy & Equipment Expense |
| 24,835 |
| 23,498 |
| 24,577 |
| 22,713 |
| 21,712 |
| 14.4 |
|
|
| Other Non-Interest Expense |
| 52,064 |
| 47,999 |
| 49,768 |
| 45,356 |
| 45,320 |
| 14.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 190,850 |
| 178,946 |
| 170,015 |
| 161,153 |
| 157,753 |
| 21.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Before Taxes |
| 165,283 |
| 145,518 |
| 153,001 |
| 150,258 |
| 136,505 |
| 21.1 |
|
|
| Income Tax Expense |
| 58,899 |
| 51,757 |
| 55,949 |
| 55,079 |
| 49,060 |
| 20.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income | $ | 106,384 |
| 93,761 |
| 97,052 |
| 95,179 |
| 87,445 |
| 21.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets |
| 1.50 | % | 1.43 | % | 1.47 | % | 1.49 | % | 1.41 | % | 9 | bp |
|
| Return on Equity |
| 17.42 |
| 17.17 |
| 18.30 |
| 18.34 |
| 17.41 |
| 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
|
|
|
| |||
| nm - not meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Synovus |
|
|
|
|
| 8 of 11 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| BALANCE SHEET |
| June 30, 2006 |
| December 31, 2005 |
| June 30, 2005 |
|
|
|
| (in thousands, except share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
|
| Cash and due from banks | $ | 887,154 |
| 880,886 |
| 811,781 |
|
|
|
| Interest earning deposits with banks |
| 11,885 |
| 2,980 |
| 14,270 |
|
|
|
| Federal funds sold and securities purchased |
|
|
|
|
|
|
|
|
|
| under resale agreements |
| 203,631 |
| 68,922 |
| 344,958 |
|
|
|
| Trading account assets |
| 46,939 |
| 27,322 |
| - |
|
|
|
| Mortgage loans held for sale |
| 170,650 |
| 143,144 |
| 155,977 |
|
|
|
| Investment securities available for sale |
| 3,137,486 |
| 2,958,320 |
| 2,756,365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans, net of unearned income |
| 23,661,964 |
| 21,392,347 |
| 20,479,834 |
|
|
|
| Allowance for loan losses |
| (313,694) |
| (289,612) |
| (277,527) |
|
|
|
| Loans, net |
| 23,348,270 |
| 21,102,735 |
| 20,202,307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Premises and equipment, net |
| 707,988 |
| 669,425 |
| 657,765 |
|
|
|
| Contract acquisition costs and computer software, net |
| 406,793 |
| 431,849 |
| 450,352 |
|
|
|
| Goodwill, net |
| 607,501 |
| 458,382 |
| 457,946 |
|
|
|
| Other intangible assets, net |
| 52,894 |
| 44,867 |
| 49,232 |
|
|
|
| Other assets |
| 945,897 |
| 831,840 |
| 812,341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets | $ | 30,527,088 |
| 27,620,672 |
| 26,713,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
| Deposits: |
|
|
|
|
|
|
|
|
|
| Non-interest bearing retail and commercial deposits | $ | 3,806,277 |
| 3,700,750 |
| 3,474,299 |
|
|
|
| Interest bearing retail and commercial deposits |
| 16,124,042 |
| 14,798,845 |
| 13,962,080 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total retail and commercial deposits |
| 19,930,319 |
| 18,499,595 |
| 17,436,379 |
|
|
|
| Brokered time deposits |
| 3,123,380 |
| 2,284,770 |
| 2,670,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total deposits |
| 23,053,699 |
| 20,784,365 |
| 20,106,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Federal funds purchased and other short-term |
|
|
|
|
|
|
|
|
|
| borrowings |
| 1,974,272 |
| 1,158,669 |
| 724,445 |
|
|
|
| Long-term debt |
| 1,421,578 |
| 1,933,638 |
| 2,335,688 |
|
|
|
| Other liabilities |
| 488,559 |
| 597,698 |
| 570,914 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
| 26,938,108 |
| 24,474,370 |
| 23,737,525 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Minority interest in consolidated subsidiaries |
| 215,521 |
| 196,973 |
| 181,957 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Shareholders' equity: |
|
|
|
|
|
|
|
|
|
| Common stock, par value $1.00 a share (1) |
| 329,097 |
| 318,301 |
| 317,181 |
|
|
|
| Surplus |
| 960,054 |
| 686,447 |
| 660,052 |
|
|
|
| Treasury stock (2) |
| (113,944) |
| (113,944) |
| (113,944) |
|
|
|
| Unearned compensation |
| - |
| (3,126) |
| (2,942) |
|
|
|
| Accumulated other comprehensive income (loss) |
| (54,783) |
| (29,536) |
| (517) |
|
|
|
| Retained earnings |
| 2,253,035 |
| 2,091,187 |
| 1,933,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total shareholders' equity (3) |
| 3,373,459 |
| 2,949,329 |
| 2,793,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities and shareholders' equity | $ | 30,527,088 |
| 27,620,672 |
| 26,713,294 |
|
|
|
| |||||||||
|
| |||||||||
|
| |||||||||
|
| |||||||||
|
| |||||||||
| (1) | Common shares outstanding: 323,435,831; 312,639,737; and 311,519,262 at June 30, 2006, December 31, 2005, and June 30, 2005, respectively. |
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
| (2) | Treasury shares: 5,661,538 at June 30, 2006, December 31, 2005, and June 30, 2005.
|
|
|
|
| ||||
| (3) | Book value per share: $10.43; $9.43; and $8.97 at June 30, 2006, December 31, 2005, and June 30, 2005, respectively. |
|
|
| Synovus |
|
|
|
|
|
| 9 of 11 | |||
| AVERAGE BALANCES AND YIELDS/RATES |
|
|
|
|
|
|
| |||
| (Dollars in thousands) |
|
|
|
|
|
|
|
|
| |
|
|
|
| 2006 | 2005 |
|
| ||||
|
|
|
| Second |
| First | Fourth | Third | Second |
|
|
|
|
|
| Quarter |
| Quarter | Quarter | Quarter | Quarter |
|
|
| Interest Earning Assets |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Taxable Investment Securities | $ | 3,008,122 |
| 2,823,306 | 2,713,238 | 2,611,048 | 2,556,964 |
|
| |
|
| Yield |
| 4.21 | % | 4.08 | 3.87 | 3.75 | 3.78 |
|
|
| Tax-Exempt Investment Securities | $ | 202,676 |
| 201,432 | 208,265 | 215,096 | 220,109 |
|
| |
|
| Yield |
| 6.73 | % | 6.86 | 6.90 | 7.08 | 6.87 |
|
|
| Trading Account Assets | $ | 47,398 |
| 37,659 | 26,006 | 19,143 | - |
|
| |
|
| Yield |
| 5.72 | % | 7.42 | 6.97 | 3.84 | - |
|
|
| Commercial Loans | $ | 19,746,392 |
| 18,377,498 | 17,881,828 | 17,342,794 | 17,090,893 |
|
| |
|
| Yield |
| 7.98 | % | 7.58 | 7.25 | 6.83 | 6.47 |
|
|
| Consumer Loans | $ | 875,171 |
| 835,520 | 845,251 | 840,746 | 833,071 |
|
| |
|
| Yield |
| 8.09 | % | 7.89 | 7.87 | 7.83 | 7.37 |
|
|
| Mortgage Loans | $ | 1,071,477 |
| 1,039,741 | 1,036,041 | 1,015,396 | 1,022,169 |
|
| |
|
| Yield |
| 6.82 | % | 6.67 | 6.44 | 6.31 | 6.47 |
|
|
| Credit Card Loans | $ | 260,010 |
| 260,251 | 257,691 | 253,985 | 249,491 |
|
| |
|
| Yield |
| 10.81 | % | 10.81 | 10.19 | 10.07 | 10.03 |
|
|
| Home Equity Loans | $ | 1,231,592 |
| 1,188,153 | 1,167,361 | 1,149,255 | 1,100,010 |
|
| |
|
| Yield |
| 7.69 | % | 7.30 | 6.85 | 6.32 | 5.92 |
|
|
| Allowance for Loan Losses | $ | (307,674) |
| (294,817) | (286,846) | (281,505) | (278,734) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Loans, Net | $ | 22,876,968 |
| 21,406,345 | 20,901,326 | 20,320,671 | 20,016,900 |
|
| |
|
| Yield |
| 8.06 | % | 7.67 | 7.35 | 6.95 | 6.61 |
|
|
| Mortgage Loans Held for Sale | $ | 132,605 |
| 117,085 | 121,665 | 137,116 | 108,929 |
|
| |
|
| Yield |
| 7.08 | % | 6.61 | 6.48 | 6.54 | 6.41 |
|
|
| Federal Funds Sold and Time Deposits |
|
|
|
|
|
|
|
|
| |
| with Banks | $ | 139,924 |
| 118,772 | 119,606 | 135,735 | 133,399 |
|
| |
|
| Yield |
| 5.07 | % | 4.42 | 4.26 | 3.55 | 3.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Interest Earning Assets | $ | 26,407,692 |
| 24,704,601 | 24,090,106 | 23,438,809 | 23,036,301 |
|
| |
|
| Yield |
| 7.58 | % | 7.23 | 6.94 | 6.58 | 6.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Bearing Liabilities |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Bearing Demand Deposits | $ | 3,040,292 |
| 3,004,244 | 2,989,754 | 2,939,524 | 2,990,725 |
|
| |
|
| Rate |
| 1.81 | % | 1.63 | 1.39 | 1.25 | 1.12 |
|
|
| Money Market Accounts | $ | 6,196,865 |
| 5,800,154 | 5,619,551 | 5,421,961 | 4,968,113 |
|
| |
|
| Rate |
| 4.00 | % | 3.55 | 3.13 | 2.75 | 2.31 |
|
|
| Savings Deposits | $ | 573,776 |
| 535,475 | 534,533 | 561,550 | 568,279 |
|
| |
|
| Rate |
| 0.69 | % | 0.47 | 0.40 | 0.38 | 0.35 |
|
|
| Time Deposits Under $100,000 | $ | 2,738,528 |
| 2,501,504 | 2,408,591 | 2,318,085 | 2,249,590 |
|
| |
|
| Rate |
| 3.92 | % | 3.55 | 3.28 | 2.99 | 2.71 |
|
|
| Time Deposits Over $100,000 (less brokered |
|
|
|
|
|
|
|
| ||
| time deposits) | $ | 3,362,304 |
| 3,067,094 | 2,864,382 | 2,700,297 | 2,534,846 |
|
| |
|
| Rate |
| 4.44 | % | 4.01 | 3.67 | 3.35 | 3.04 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Interest Bearing Core Deposits |
| 15,911,765 |
| 14,908,471 | 14,416,811 | 13,941,417 | 13,311,553 |
|
| |
|
| Rate |
| 3.54 | % | 3.15 | 2.80 | 2.50 | 2.16 |
|
|
| Brokered Time Deposits | $ | 2,740,674 |
| 2,364,383 | 2,443,105 | 2,611,091 | 2,689,079 |
|
| |
|
| Rate |
| 4.57 | % | 4.24 | 3.89 | 3.52 | 3.21 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Interest Bearing Deposits | $ | 18,652,438 |
| 17,272,854 | 16,859,916 | 16,552,508 | 16,000,632 |
|
| |
|
| Rate |
| 3.69 | % | 3.30 | 2.96 | 2.66 | 2.34 |
|
|
| Federal Funds Purchased and Other |
|
|
|
|
|
|
|
|
| |
| Short-Term Borrowings | $ | 1,772,113 |
| 1,530,099 | 939,008 | 687,055 | 1,255,755 |
|
| |
|
| Rate |
| 4.76 | % | 4.28 | 3.72 | 3.03 | 2.75 |
|
|
| Long-Term Debt | $ | 1,586,586 |
| 1,774,804 | 2,184,538 | 2,302,328 | 1,981,235 |
|
| |
|
| Rate |
| 4.42 | % | 4.62 | 4.44 | 4.34 | 4.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Interest Bearing Liabilities | $ | 22,011,138 |
| 20,577,757 | 19,983,462 | 19,541,891 | 19,237,622 |
|
| |
|
| Rate |
| 3.83 | % | 3.48 | 3.16 | 2.87 | 2.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Bearing Demand Deposits | $ | 3,511,554 |
| 3,443,867 | 3,509,219 | 3,423,622 | 3,429,813 |
|
| |
| Shareholders' Equity | $ | 3,321,397 |
| 3,050,256 | 2,906,223 | 2,832,059 | 2,755,510 |
|
| |
| Total Assets | $ | 29,563,064 |
| 27,792,577 | 27,164,366 | 26,505,937 | 26,102,816 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Margin |
| 4.39 | % | 4.32 | 4.32 | 4.18 | 4.15 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synovus |
|
|
|
|
|
|
|
| 10 of 11 |
|
|
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION |
|
|
|
| |||||||
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 | $ | 528,278 |
| 2.2 | % | $ | 214 |
| 0.2 |
|
|
Hotels |
| 674,971 |
| 2.9 |
|
| 1,485 |
| 1.7 |
|
|
Office Buildings |
| 850,826 |
| 3.6 |
|
| 3,928 |
| 4.4 |
|
|
Shopping Centers |
| 692,452 |
| 2.9 |
|
| - |
| - |
|
|
Commercial Development |
| 942,220 |
| 4.0 |
|
| 1,795 |
| 2.0 |
|
|
Other Investment Property |
| 409,371 |
| 1.7 |
|
| 74 |
| 0.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investment Properties |
| 4,098,118 |
| 17.3 |
|
| 7,496 |
| 8.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 Family Construction |
| 2,120,870 |
| 9.0 |
|
| 2,349 |
| 2.6 |
|
|
1-4 Family Perm / Mini-Perm |
| 1,180,088 |
| 5.0 |
|
| 5,438 |
| 6.1 |
|
|
Residential Development |
| 1,882,508 |
| 8.0 |
|
| 1,293 |
| 1.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total 1-4 Family Properties |
| 5,183,466 |
| 21.9 |
|
| 9,080 |
| 10.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Acquisition |
| 1,205,548 |
| 5.1 |
|
| 4,934 |
| 5.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investment-Related Real Estate |
| 10,487,132 |
| 44.3 |
|
| 21,510 |
| 24.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owner-Occupied |
| 2,940,952 |
| 12.4 |
|
| 10,047 |
| 11.3 |
|
|
Other Property |
| 1,221,842 |
| 5.2 |
|
| 5,053 |
| 5.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial Real Estate |
| 14,649,926 |
| 61.9 |
|
| 36,610 |
| 41.2 |
|
|
Commercial & Industrial |
| 5,547,533 |
| 23.4 |
|
| 43,291 |
| 48.8 |
|
|
Consumer |
| 3,516,804 |
| 14.9 |
|
| 8,904 |
| 10.0 |
|
|
Unearned Income |
| (52,299) |
| (0.2) |
|
| - |
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total | $ | 23,661,964 |
| 100.0 | % | $ | 88,805 |
| 100.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| LOANS OUTSTANDING BY TYPE COMPARISON |
|
|
|
|
|
|
|
|
|
| |||||||
| (Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
| Total Loans |
| 2Q06 vs. 4Q05 |
|
|
|
| 2Q06 vs. 2Q05 |
| |||||||
| Loan Type |
| June 30, 2006 |
| December 31, 2005 |
| % change (1) (2) |
|
| June 30, 2005 |
| % change (2) |
| |||||
| Commercial Real Estate |
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Multi-Family | $ | 528,278 |
| 527,710 |
| 0.2 | % | $ | 526,820 |
| 0.3 | % | |||||
| Hotels |
| 674,971 |
| 680,301 |
| (1.6) |
|
| 804,316 |
| (16.1) |
| |||||
| Office Buildings |
| 850,826 |
| 747,493 |
| 27.9 |
|
| 786,262 |
| 8.2 |
| |||||
| Shopping Centers |
| 692,452 |
| 656,949 |
| 10.9 |
|
| 628,701 |
| 10.1 |
| |||||
| Commercial Development |
| 942,220 |
| 867,217 |
| 17.9 |
|
| 803,494 |
| 17.3 |
| |||||
| Other Investment Property |
| 409,371 |
| 372,911 |
| 19.7 |
|
| 330,992 |
| 23.7 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total Investment Properties |
| 4,098,118 |
| 3,852,581 |
| 12.9 |
|
| 3,880,585 |
| 5.6 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| 1-4 Family Construction |
| 2,120,870 |
| 1,552,338 |
| 73.9 |
|
| 1,372,556 |
| 54.5 |
| |||||
| 1-4 Family Perm / Mini-Perm |
| 1,180,088 |
| 1,095,155 |
| 15.6 |
|
| 1,087,763 |
| 8.5 |
| |||||
| Residential Development |
| 1,882,508 |
| 1,496,436 |
| 52.0 |
|
| 1,219,186 |
| 54.4 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total 1-4 Family Properties |
| 5,183,466 |
| 4,143,929 |
| 50.6 |
|
| 3,679,505 |
| 40.9 |
| |||||
| Land Acquisition |
| 1,205,548 |
| 1,049,041 |
| 30.1 |
|
| 913,488 |
| 32.0 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total Investment-Related Real Estate |
| 10,487,132 |
| 9,045,551 |
| 32.1 |
|
| 8,473,578 |
| 23.8 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Owner-Occupied |
| 2,940,952 |
| 2,699,431 |
| 18.0 |
|
| 2,335,195 |
| 25.9 |
| |||||
| Other Property |
| 1,221,842 |
| 1,115,094 |
| 19.3 |
|
| 1,202,920 |
| 1.6 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total Commercial Real Estate |
| 14,649,926 |
| 12,860,076 |
| 28.1 |
|
| 12,011,693 |
| 22.0 |
| |||||
| Commercial & Industrial |
| 5,547,533 |
| 5,231,150 |
| 12.2 |
|
| 5,210,170 |
| 6.5 |
| |||||
| Consumer |
| 3,516,804 |
| 3,349,208 |
| 10.1 |
|
| 3,301,736 |
| 6.5 |
| |||||
| Unearned Income |
| (52,299) |
| (48,087) |
| 17.7 |
|
| (43,765) |
| 19.5 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total | $ | 23,661,964 |
| 21,392,347 |
| 21.4 | % | $ | 20,479,834 |
| 15.5 | % | |||||
(1) | Percentage change is annualized. |
|
|
(2) | The percentage change comparison to prior periods is impacted by the acquisitions of Riverside Bankshares, Inc. (Riverside) and of Banking Corporation of Florida (First Florida), |
Synovus |
|
|
|
|
|
|
|
|
|
|
| 11 of 11 | ||
| CREDIT QUALITY DATA |
|
|
|
|
|
|
|
|
|
|
|
| |
| (Dollars in thousands) |
| 2006 |
| 2005 |
| 2nd Quarter | |||||||
|
|
| Second Quarter |
| First Quarter |
| Fourth Quarter |
| Third Quarter |
| Second Quarter |
| '06 vs. '05 Change | |
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nonperforming Loans | $ | 88,805 |
| 80,061 |
| 82,175 |
| 85,571 |
| 79,511 |
| 11.7 | % |
| Other Real Estate |
| 25,634 |
| 20,357 |
| 16,500 |
| 16,951 |
| 24,325 |
| 5.4 |
|
| Nonperforming Assets |
| 114,439 |
| 100,418 |
| 98,675 |
| 102,522 |
| 103,836 |
| 10.2 |
|
| Allowance for Loan Losses |
| 313,694 |
| 300,866 |
| 289,612 |
| 283,557 |
| 277,527 |
| 13.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Charge-Offs - Quarter |
| 9,528 |
| 14,388 |
| 14,732 |
| 13,608 |
| 19,020 |
| (49.9) |
|
| Net Charge-Offs - YTD |
| 23,916 |
| 14,388 |
| 58,665 |
| 43,933 |
| 30,325 |
| (21.1) |
|
| Net Charge-Offs / Average Loans - Quarter |
| 0.17 |
| 0.27 |
| 0.28 |
| 0.26 |
| 0.37 |
|
|
|
| Net Charge-Offs / Average Loans - YTD |
| 0.21 |
| 0.27 |
| 0.29 |
| 0.29 |
| 0.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nonperforming Loans / Loans & ORE |
| 0.38 |
| 0.36 |
| 0.38 |
| 0.41 |
| 0.39 |
|
|
|
| Nonperforming Assets / Loans & ORE |
| 0.48 |
| 0.45 |
| 0.46 |
| 0.49 |
| 0.51 |
|
|
|
| Allowance / Loans |
| 1.33 |
| 1.34 |
| 1.35 |
| 1.36 |
| 1.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Allowance / Nonperforming Loans |
| 353.24 |
| 375.79 |
| 352.43 |
| 331.37 |
| 349.04 |
|
|
|
| Allowance / Nonperforming Assets |
| 274.11 |
| 299.61 |
| 293.50 |
| 276.58 |
| 267.27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Past Due Loans over 90 days |
| 19,340 |
| 17,376 |
| 16,023 |
| 16,013 |
| 17,163 |
|
|
|
| As a Percentage of Loans Outstanding |
| 0.08 |
| 0.08 |
| 0.07 |
| 0.08 |
| 0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Past Dues |
| 111,464 |
| 114,744 |
| 93,807 |
| 103,005 |
| 120,224 |
|
|
|
| As a Percentage of Loans Outstanding |
| 0.47 |
| 0.51 |
| 0.44 |
| 0.49 |
| 0.59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| REGULATORY CAPITAL RATIOS (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| (Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
| June 30, 2006 |
| December 31, 2005 |
| June 30, 2005 |
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Tier 1 Capital | $ | 3,000,714 |
| 2,660,704 |
| 2,492,549 |
|
|
|
|
|
|
|
|
| ||||
| Total Risk-Based Capital |
| 4,064,409 |
| 3,700,315 |
| 3,520,075 |
|
|
|
|
|
|
|
|
| ||||
| Tier 1 Capital Ratio |
| 10.40 | % | 10.23 |
| 9.96 |
|
|
|
|
|
|
|
|
| ||||
| Total Risk-Based Capital Ratio |
| 14.09 |
| 14.23 |
| 14.07 |
|
|
|
|
|
|
|
|
| ||||
| Leverage Ratio |
| 10.39 |
| 9.99 |
| 9.74 |
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
(1) | June 30, 2006 information is preliminary. |
|
|