Synovus Financial (SNV) 8-K Synovus Reports 15% Increase in Net Income for Third Quarter 2006

Exhibit 99.2

	Synovus								4 of 11
		INCOME STATEMENT		Nine Months Ended
		(In thousands, except per share data)		September 30,
				2006		2005	Change
		Interest Income (Taxable Equivalent)	$	1,475,205		1,081,766	36.4	%
		Interest Expense		628,594		368,141	70.7
		Net Interest Income (Taxable Equivalent)		846,611		713,625	18.6
		Tax Equivalent Adjustment		4,369		4,873	(10.3)
		Net Interest Income		842,242		708,752	18.8
		Provision for Loan Losses		56,473		61,745	(8.5)
		Net Interest Income After Provision		785,769		647,007	21.4
		Non-Interest Income:
		Electronic Payment Processing Services		685,264		644,070	6.4
		Merchant Services		195,318		170,009	14.9
		Other Transaction Processing Services Revenue		136,401		137,868	(1.1)
		Service Charges on Deposits		85,983		83,593	2.9
		Fiduciary and Asset Management Fees		35,090		33,342	5.2
		Brokerage and Investment Banking Revenue		20,009		17,871	12.0
		Mortgage Banking Income		22,419		21,604	3.8
		Bankcard Fees		32,921		27,406	20.1
		Securities Gains (Losses)		(2,118)		598	nm
		Other Fee Income		28,667		23,537	21.8
		Other Non-Interest Income		28,309		28,905	(2.1)
		Non-Interest Income before Reimbursable Items		1,268,263		1,188,803	6.7
		Reimbursable Items		267,825		227,975	17.5
		Total Non-Interest Income		1,536,088		1,416,778	8.4
		Non-Interest Expense:
		Personnel Expense		717,825		612,120	17.3
		Occupancy & Equipment Expense		297,700		274,245	8.6
		Other Non-Interest Expense		316,283		315,922	0.1
		Non-Interest Expense before Reimbursable Items		1,331,808		1,202,287	10.8
		Reimbursable Items		267,825		227,975	17.5
		Total Non-Interest Expense		1,599,633		1,430,262	11.8
		Minority Interest in Consolidated Subsidiaries		31,311		27,810	12.6
		Income Before Taxes		690,913		605,713	14.1
		Income Tax Expense		249,543		226,527	10.2
		Net Income	$	441,370		379,186	16.4
		Basic Earnings Per Share	$	1.38		1.22	13.2	%
		Diluted Earnings Per Share		1.37		1.20	13.5
		Dividends Declared Per Share		0.59		0.55	6.8
		Return on Assets		2.01	%	1.95	6	bp
		Return on Equity		18.04		18.35	(31)
		Average Shares Outstanding - Basic		320,063		311,204	2.8	%
		Average Shares Outstanding - Diluted		322,860		314,648	2.6
bp - change is measured as difference in basis points
nm - not meaningful

Synovus														5 of 11
	INCOME STATEMENT
	(In thousands, except per share data)		2006						2005				3rd Quarter
			Third		Second		First		Fourth		Third		'06 vs. '05
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	535,038		499,191		440,977		420,898		388,076		37.9	%
	Interest Expense		241,027		210,510		177,057		159,237		141,587		70.2
	Net Interest Income (Taxable Equivalent)		294,011		288,681		263,920		261,661		246,489		19.3
	Tax Equivalent Adjustment		1,409		1,478		1,484		1,566		1,664		(15.3)
	Net Interest Income		292,602		287,203		262,436		260,095		244,825		19.5
	Provision for Loan Losses		18,390		18,534		19,549		20,787		19,639		(6.4)
	Net Interest Income After Provision		274,212		268,669		242,887		239,308		225,186		21.8
	Non-Interest Income:
	Electronic Payment Processing Services		230,273		234,519		220,472		223,844		223,123		3.2
	Merchant Services		65,548		65,820		63,949		67,409		74,208		(11.7)
	Other Transaction Processing Services Revenue		44,812		46,463		45,125		45,544		44,030		1.8
	Service Charges on Deposits		29,860		29,409		26,712		28,572		28,598		4.4
	Fiduciary and Asset Management Fees		11,868		11,509		11,713		11,544		11,167		6.3
	Brokerage and Investment Banking Revenue		6,502		6,559		6,947		6,616		5,801		12.1
	Mortgage Banking Income		8,440		8,105		5,873		7,078		8,276		2.0
	Bankcard Fees		11,394		10,992		10,535		10,858		9,713		17.3
	Securities Gains (Losses)		(982)		(1,062)		(73)		(135)		-		nm
	Other Fee Income		9,679		10,038		8,950		9,377		8,217		17.8
	Other Non-Interest Income		9,878		9,263		9,172		6,689		12,599		(21.6)
	Non-Interest Income before Reimbursable Items		427,272		431,615		409,375		417,396		425,732		0.4
	Reimbursable Items		99,187		86,138		82,500		84,306		79,644		24.5
	Total Non-Interest Income		526,459		517,753		491,875		501,702		505,376		4.2
	Non-Interest Expense:
	Personnel Expense		256,220		233,847		227,758		224,251		213,695		19.9
	Occupancy & Equipment Expense		100,504		99,495		97,700		93,965		98,772		1.8
	Other Non-Interest Expense		97,514		112,934		105,836		110,608		113,300		(13.9)
	Non-Interest Expense before Reimbursable Items		454,238		446,276		431,294		428,824		425,767		6.7
	Reimbursable Items		99,187		86,138		82,500		84,306		79,644		24.5
	Total Non-Interest Expense		553,425		532,414		513,794		513,130		505,411		9.5
	Minority Interest in Consolidated Subsidiaries		10,406		11,165		9,740		9,571		9,306		11.8
	Income Before Taxes		236,840		242,843		211,228		218,309		215,845		9.7
	Income Tax Expense		82,774		90,046		76,722		81,049		81,853		1.1
	Net Income	$	154,066		152,797		134,506		137,260		133,992		15.0
	Basic Earnings Per Share	$	0.48		0.47		0.43		0.44		0.43		10.8
	Diluted Earnings Per Share		0.47		0.47		0.43		0.44		0.43		10.9
	Dividends Declared Per Share		0.20		0.20		0.20		0.18		0.18		6.8
	Return on Assets		2.00	%	2.07	%	1.96	%	2.00	%	2.01	%	(1)	bp
	Return on Equity		17.63		18.45		17.88		18.74		18.77		(114)
	Average Shares Outstanding - Basic		323,657		322,783		313,639		312,298		311,842		3.8	%
	Average Shares Outstanding - Diluted		326,834		325,421		316,208		315,280		315,336		3.6
bp - change is measured as difference in basis points.
nm - not meaningful

Synovus						6 of 11
Financial Services Segment
	INCOME STATEMENT		Nine Months Ended
	(In thousands)		September 30,
			2006		2005	Change
	Interest Income (Taxable Equivalent)	$	1,475,178		1,081,783	36.4	%
	Interest Expense		633,917		370,538	71.1
	Net Interest Income (Taxable Equivalent)		841,261		711,245	18.3
	Tax Equivalent Adjustment		4,343		4,854	(10.5)
	Net Interest Income		836,918		706,391	18.5
	Provision for Loan Losses		56,473		61,745	(8.5)
	Net Interest Income After Provision		780,445		644,646	21.1
	Non-Interest Income:
	Service Charges on Deposits		85,983		83,593	2.9
	Fiduciary and Asset Management Fees		35,707		33,725	5.9
	Brokerage and Investment Banking Revenue		20,009		17,871	12.0
	Mortgage Banking Income		22,419		21,604	3.8
	Bankcard Fees		32,921		27,406	20.1
	Securities Gains (Losses)		(2,118)		598	nm
	Other Fee Income		28,667		23,538	21.8
	Other Non-Interest Income		38,247		34,100	12.2
	Total Non-Interest Income		261,835		242,435	8.0
	Non-Interest Expense:
	Personnel Expense		335,243		274,552	22.1
	Occupancy & Equipment Expense		73,899		65,972	12.0
	Other Non-Interest Expense		151,961		136,218	11.6
	Total Non-Interest Expense		561,103		476,742	17.7
	Income Before Taxes		481,177		410,339	17.3
	Income Tax Expense		171,050		148,341	15.3
	Net Income	$	310,127		261,998	18.4
	Return on Assets		1.48	%	1.41	7	bp
	Return on Equity		17.27		17.33	(6)
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				3rd Quarter
			Third		Second		First		Fourth		Third		'06 vs. '05
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	535,025		499,184		440,969		420,892		388,067		37.9	%
	Interest Expense		242,875		212,499		178,544		160,509		142,582		70.3
	Net Interest Income (Taxable Equivalent)		292,150		286,685		262,425		260,383		245,485		19.0
	Tax Equivalent Adjustment		1,395		1,471		1,476		1,558		1,655		(15.6)
	Net Interest Income		290,755		285,214		260,949		258,825		243,830		19.2
	Provision for Loan Losses		18,390		18,534		19,549		20,787		19,639		(6.4)
	Net Interest Income After Provision		272,365		266,680		241,400		238,038		224,191		21.5
	Non-Interest Income:
	Service Charges on Deposits		29,862		29,409		26,712		28,572		28,598		4.4
	Fiduciary and Asset Management Fees		12,077		11,720		11,910		11,728		11,357		6.3
	Brokerage and Investment Banking Revenue		6,502		6,559		6,947		6,616		5,801		12.1
	Mortgage Banking Income		8,440		8,105		5,873		7,078		8,276		2.0
	Bankcard Fees		11,394		10,992		10,535		10,858		9,713		17.3
	Securities Gains (Losses)		(982)		(1,062)		(74)		(135)		-		nm
	Other Fee Income		9,679		10,038		8,950		9,377		8,216		17.8
	Other Non-Interest Income		12,347		13,692		12,210		10,884		15,259		(19.1)
	Total Non-Interest Income		89,319		89,453		83,063		84,978		87,220		2.4
	Non-Interest Expense:
	Personnel Expense		113,842		113,951		107,449		95,670		93,084		22.3
	Occupancy & Equipment Expense		25,566		24,835		23,498		24,577		22,713		12.6
	Other Non-Interest Expense		51,899		52,064		47,999		49,768		45,356		14.4
	Total Non-Interest Expense		191,307		190,850		178,946		170,015		161,153		18.7
	Income Before Taxes		170,377		165,283		145,517		153,001		150,258		13.4
	Income Tax Expense		60,394		58,899		51,757		55,949		55,079		9.6
	Net Income	$	109,983		106,384		93,760		97,052		95,179		15.6
	Return on Assets		1.49	%	1.50	%	1.43	%	1.47	%	1.49	%	-	bp
	Return on Equity		17.04		17.42		17.17		18.30		18.34		130
bp - change is measured as difference in basis points.
nm - not meaningful

Synovus					8 of 11
BALANCE SHEET			September 30, 2006	December 31, 2005	September 30, 2005
(In thousands, except share data)
ASSETS
Cash and due from banks		$	790,602	880,886	879,838
Interest earning deposits with banks			17,444	2,980	2,510
Federal funds sold and securities purchased
under resale agreements			308,300	68,922	150,853
Trading account assets			15,031	27,322	26,069
Mortgage loans held for sale			158,690	143,144	169,659
Investment securities available for sale			3,269,889	2,958,320	2,821,018
Loans, net of unearned income			24,192,596	21,392,347	20,904,677
Allowance for loan losses			(319,973)	(289,612)	(283,557)
Loans, net			23,872,623	21,102,735	20,621,120
Premises and equipment, net			723,974	669,425	668,822
Contract acquisition costs and computer software, net			403,702	431,849	437,684
Goodwill, net			664,225	458,382	454,315
Other intangible assets, net			50,900	44,867	47,033
Other assets			1,052,015	831,840	796,169
Total assets		$	31,327,395	27,620,672	27,075,090
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing retail and commercial deposits		$	3,659,629	3,700,750	3,573,766
Interest bearing retail and commercial deposits			17,103,778	14,798,845	14,188,695
Total retail and commercial deposits			20,763,407	18,499,595	17,762,461
Brokered time deposits			3,199,157	2,284,770	2,516,749
Total deposits			23,962,564	20,784,365	20,279,210
Federal funds purchased and other short-term
borrowings			1,582,037	1,158,669	880,605
Long-term debt			1,363,519	1,933,638	2,256,388
Other liabilities			655,943	597,698	594,365
Total liabilities			27,564,063	24,474,370	24,010,568
Minority interest in consolidated subsidiaries			217,847	196,973	189,616
Shareholders' equity:
Common stock, par value $1.00 a share (1)			330,474	318,301	317,945
Surplus			992,489	686,447	677,178
Treasury stock (2)			(113,944)	(113,944)	(113,944)
Unearned compensation			-	(3,126)	(2,593)
Accumulated other comprehensive income (loss)			(8,494)	(29,536)	(14,663)
Retained earnings			2,344,960	2,091,187	2,010,983
Total shareholders' equity (3)			3,545,485	2,949,329	2,874,906
Total liabilities and shareholders' equity		$	31,327,395	27,620,672	27,075,090
(1)	Common shares outstanding: 324,812,048; 312,639,737; and 312,283,129 at September 30, 2006, December 31, 2005, and September 30, 2005, respectively
(2)	Treasury shares: 5,661,538 at September 30, 2006, December 31, 2005, and September 30, 2005.
(3)	Book value per share: $10.91; $9.43; and $9.21 at September 30, 2006, December 31, 2005, and September 30, 2005, respectively.

Synovus								9 of 11
AVERAGE BALANCES AND YIELDS/RATES
(Dollars in thousands)
			2006				2005
			Third		Second	First	Fourth	Third
			Quarter		Quarter	Quarter	Quarter	Quarter
Interest Earning Assets
Taxable Investment Securities		$	3,025,507		3,008,122	2,823,306	2,713,238	2,611,048
	Yield		4.39	%	4.21	4.08	3.87	3.75
Tax-Exempt Investment Securities		$	197,024		202,676	201,432	208,265	215,096
	Yield		6.70	%	6.73	6.86	6.90	7.08
Trading Account Assets		$	53,181		47,398	37,659	26,006	19,143
	Yield		5.30	%	5.72	7.42	6.97	3.84
Commercial Loans		$	20,430,469		19,746,392	18,377,498	17,881,828	17,342,794
	Yield		8.22	%	7.98	7.58	7.25	6.83
Consumer Loans		$	906,634		875,171	835,520	845,251	840,746
	Yield		8.17	%	8.09	7.89	7.87	7.83
Mortgage Loans		$	1,091,425		1,071,477	1,039,741	1,036,041	1,015,396
	Yield		6.93	%	6.82	6.67	6.44	6.31
Credit Card Loans		$	265,120		260,010	260,251	257,691	253,985
	Yield		10.86	%	10.81	10.81	10.19	10.07
Home Equity Loans		$	1,252,802		1,231,592	1,188,153	1,167,361	1,149,255
	Yield		7.97	%	7.69	7.30	6.85	6.32
Allowance for Loan Losses		$	(318,195)		(307,674)	(294,817)	(286,846)	(281,505)
Loans, Net		$	23,628,256		22,876,968	21,406,345	20,901,326	20,320,671
	Yield		8.29	%	8.06	7.67	7.35	6.95
Mortgage Loans Held for Sale		$	130,196		132,605	117,085	121,665	137,116
	Yield		6.51	%	7.08	6.61	6.48	6.54
Federal Funds Sold and Time Deposits
with Banks		$	155,201		139,924	118,772	119,606	135,735
	Yield		5.32	%	5.07	4.42	4.26	3.55
Total Interest Earning Assets		$	27,189,364		26,407,692	24,704,601	24,090,106	23,438,809
	Yield		7.81	%	7.58	7.23	6.94	6.58
Interest Bearing Liabilities
Interest Bearing Demand Deposits		$	2,946,646		3,040,292	3,004,244	2,989,754	2,939,524
	Rate		2.03	%	1.81	1.63	1.39	1.25
Money Market Accounts		$	6,587,365		6,196,865	5,800,154	5,619,551	5,421,961
	Rate		4.38	%	4.00	3.55	3.13	2.75
Savings Deposits		$	547,779		573,776	535,475	534,533	561,550
	Rate		0.72	%	0.69	0.47	0.40	0.38
Time Deposits Under $100,000		$	2,917,518		2,738,528	2,501,504	2,408,591	2,318,085
	Rate		4.38	%	3.92	3.55	3.28	2.99
Time Deposits Over $100,000 (less brokered
time deposits)		$	3,756,853		3,362,304	3,067,094	2,864,382	2,700,297
	Rate		4.92	%	4.44	4.01	3.67	3.35
Total Interest Bearing Core Deposits			16,756,161		15,911,765	14,908,471	14,416,811	13,941,417
	Rate		3.97	%	3.54	3.15	2.80	2.50
Brokered Time Deposits		$	3,165,905		2,740,674	2,364,383	2,443,105	2,611,091
	Rate		4.85	%	4.57	4.24	3.89	3.52
Total Interest Bearing Deposits		$	19,922,066		18,652,438	17,272,854	16,859,916	16,552,508
	Rate		4.11	%	3.69	3.30	2.96	2.66
Federal Funds Purchased and Other
Short-Term Borrowings		$	1,553,699		1,772,113	1,530,099	939,008	687,055
	Rate		4.80	%	4.76	4.28	3.72	3.03
Long-Term Debt		$	1,364,227		1,586,586	1,774,804	2,184,538	2,302,328
	Rate		4.57	%	4.42	4.62	4.44	4.34
Total Interest Bearing Liabilities		$	22,839,991		22,011,138	20,577,757	19,983,462	19,541,891
	Rate		4.18	%	3.83	3.48	3.16	2.87
Non-Interest Bearing Demand Deposits		$	3,528,942		3,511,554	3,443,867	3,509,219	3,423,622
Net Interest Margin			4.30	%	4.39	4.32	4.32	4.18

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	$	513,644	2.1	%	$	281	0.3
	Hotels		636,530	2.6			433	0.4
	Office Buildings		867,770	3.6			3,473	3.7
	Shopping Centers		714,958	3.0			1,136	1.2
	Commercial Development		975,089	4.0			1,411	1.5
	Other Investment Property		403,587	1.7			73	0.1
	Total Investment Properties		4,111,578	17.0			6,807	7.2
	1-4 Family Construction		2,224,684	9.2			2,916	3.1
	1-4 Family Perm / Mini-Perm		1,198,388	5.0			6,319	6.7
	Residential Development		1,969,320	8.1			1,351	1.4
	Total 1-4 Family Properties		5,392,392	22.3			10,586	11.2
	Land Acquisition		1,245,727	5.1			6,834	7.2
	Total Investment-Related Real Estate		10,749,697	44.4			24,227	25.6
	Owner-Occupied		3,031,530	12.6			10,325	10.9
	Other Property		1,244,432	5.1			7,171	7.5
	Total Commercial Real Estate		15,025,659	62.1			41,723	44.0
	Commercial & Industrial		5,661,746	23.4			43,543	45.9
	Consumer		3,557,591	14.7			9,500	10.1
	Unearned Income		(52,400)	(0.2)			-	-
	Total	$	24,192,596	100.0	%	$	94,766	100.0

LOANS OUTSTANDING BY TYPE COMPARISON
(Dollars in thousands)
			Total Loans		3Q06 vs. 4Q05 % change (1) (2)				3Q06 vs. 3Q05 % change (2)
Loan Type			September 30, 2006	December 31, 2005				September 30, 2005
Commercial Real Estate
Multi-Family		$	513,644	527,710	(3.6)	%	$	527,826	(2.7)	%
Hotels			636,530	680,301	(8.6)			779,736	(18.4)
Office Buildings			867,770	747,493	21.5			797,886	8.8
Shopping Centers			714,958	656,949	11.8			641,620	11.4
Commercial Development			975,089	867,217	16.6			821,660	18.7
Other Investment Property			403,587	372,911	11.0			328,120	23.0
Total Investment Properties			4,111,578	3,852,581	9.0			3,896,848	5.5
1-4 Family Construction			2,224,684	1,552,338	57.9			1,414,675	57.3
1-4 Family Perm / Mini-Perm			1,198,388	1,095,155	12.6			1,075,143	11.5
Residential Development			1,969,320	1,496,436	42.2			1,345,662	46.3
Total 1-4 Family Properties			5,392,392	4,143,929	40.3			3,835,480	40.6
Land Acquisition			1,245,727	1,049,041	25.1			978,813	27.3
Total Investment-Related Real Estate			10,749,697	9,045,551	25.2			8,711,141	23.4
Owner-Occupied			3,031,530	2,699,431	16.4			2,443,318	24.1
Other Property			1,244,432	1,115,094	15.5			1,302,379	(4.4)
Total Commercial Real Estate			15,025,659	12,860,076	22.5			12,456,838	20.6
Commercial & Industrial			5,661,746	5,231,150	11.0			5,185,634	9.2
Consumer			3,557,591	3,349,208	8.3			3,306,529	7.6
Unearned Income			(52,400)	(48,087)	12.0			(44,324)	18.2
Total		$	24,192,596	21,392,347	17.5	%	$	20,904,677	15.7	%
(1)	Percentage change is annualized.
(2)	The percentage change comparison to prior periods is impacted by the acquisition of Riverside Bancshares, Inc. (Riverside) and Banking Corporation of Florida (First Florida), which were completed on March 24, 2006, respectively. Riverside and First Florida contributed $482 and $346 million, respectively, in total loans. Excluding the impact of Riverside and First Florida, the year-to-date annualized growth is 12.3% and the year-over-year growth is 11.8%.

Synovus								11 of 11
	CREDIT QUALITY DATA
	(Dollars in thousands)		2006			2005			3rd Quarter
			Third	Second	First	Fourth	Third		'06 vs. '05
			Quarter	Quarter	Quarter	Quarter	Quarter		Change
	Nonperforming Loans	$	94,766	88,805	80,061	82,175	85,571		10.7	%
	Other Real Estate		31,549	25,634	20,357	16,500	16,951		86.1
	Nonperforming Assets		126,315	114,439	100,418	98,675	102,522		23.2
	Allowance for Loan Losses		319,973	313,694	300,866	289,612	283,557		12.8
	Net Charge-Offs - Quarter		12,111	9,528	14,388	14,732	13,608		(11.0)
	Net Charge-Offs - YTD		36,027	23,916	14,388	58,665	43,933		(18.0)
	Net Charge-Offs / Average Loans - Quarter		0.20	0.17	0.27	0.28	0.26
	Net Charge-Offs / Average Loans - YTD		0.21	0.21	0.27	0.29	0.29
	Nonperforming Loans / Loans & ORE		0.39	0.38	0.36	0.38	0.41
	Nonperforming Assets / Loans & ORE		0.52	0.48	0.45	0.46	0.49
	Allowance / Loans		1.32	1.33	1.34	1.35	1.36
	Allowance / Nonperforming Loans		337.65	353.24	375.79	352.43	331.37
	Allowance / Nonperforming Assets		253.31	274.11	299.61	293.50	276.58
	Past Due Loans over 90 days		18,002	19,340	17,376	16,023	16,013
	As a Percentage of Loans Outstanding		0.07	0.08	0.08	0.07	0.08
	Total Past Dues		140,526	111,464	114,744	93,807	103,005
	As a Percentage of Loans Outstanding		0.58	0.47	0.51	0.44	0.49

REGULATORY CAPITAL RATIOS (1)
(Dollars in thousands)
		September 30, 2006		December 31, 2005	September 30, 2005
Tier 1 Capital	$	3,065,990		2,660,704	2,598,706
Total Risk-Based Capital		4,135,963		3,700,315	3,632,263
Tier 1 Capital Ratio		10.34	%	10.23	10.18
Total Risk-Based Capital Ratio		13.95		14.23	14.23
Leverage Ratio		10.27		9.99	9.99
(1) September 30, 2006 information is preliminary.