Exhibit 99.2
| SYNOVUS |
|
|
|
|
| 4 of 11 |
| ||
|
| INCOME STATEMENTS |
| Six Months Ended |
| |||||
|
| (In thousands, except per share data) |
| June 30, |
| |||||
|
|
|
| 2007 |
| 2006 |
| Change |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 1,114,990 |
| 940,137 |
| 18.6 | % |
|
|
| Interest Expense |
| 534,171 |
| 387,567 |
| 37.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 580,819 |
| 552,570 |
| 5.1 |
|
|
|
| Tax Equivalent Adjustment |
| 2,648 |
| 2,931 |
| (9.6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 578,171 |
| 549,639 |
| 5.2 |
|
|
|
| Provision for Loan Losses |
| 40,797 |
| 38,083 |
| 7.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 537,374 |
| 511,556 |
| 5.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
| Electronic Payment Processing Services |
| 472,153 |
| 451,867 |
| 4.5 |
|
|
|
| Merchant Acquiring Services |
| 124,957 |
| 129,769 |
| (3.7) |
|
|
|
| Other Transaction Processing Services Revenue |
| 108,244 |
| 89,947 |
| 20.3 |
|
|
|
| Service Charges on Deposits |
| 54,420 |
| 54,988 |
| (1.0) |
|
|
|
| Fiduciary and Asset Management Fees |
| 24,696 |
| 23,222 |
| 6.3 |
|
|
|
| Brokerage and Investment Banking Revenue |
| 15,259 |
| 13,506 |
| 13.0 |
|
|
|
| Mortgage Banking Income |
| 14,920 |
| 13,978 |
| 6.7 |
|
|
|
| Bankcard Fees |
| 23,447 |
| 21,647 |
| 8.3 |
|
|
|
| Securities Gains (Losses) |
| 705 |
| (1,136) |
| nm |
|
|
|
| Other Fee Income |
| 19,838 |
| 19,640 |
| 1.0 |
|
|
|
| Other Non-Interest Income |
| 25,913 |
| 20,317 |
| 27.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income before Reimbursable Items |
| 884,552 |
| 837,747 |
| 5.6 |
|
|
|
| Reimbursable Items |
| 181,555 |
| 168,638 |
| 7.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 1,066,107 |
| 1,006,385 |
| 5.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 516,721 |
| 461,605 |
| 11.9 |
|
|
|
| Occupancy & Equipment Expense |
| 187,147 |
| 197,195 |
| (5.1) |
|
|
|
| Other Non-Interest Expense |
| 202,008 |
| 215,524 |
| (6.3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense before Reimbursable Items |
| 905,876 |
| 874,325 |
| 3.6 |
|
|
|
| Reimbursable Items |
| 181,555 |
| 168,638 |
| 7.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 1,087,431 |
| 1,042,963 |
| 4.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Minority Interest in Consolidated Subsidiaries |
| 24,465 |
| 20,905 |
| 17.0 |
|
|
|
| Income from Continuing Operations before Income Taxes |
| 491,585 |
| 454,071 |
| 8.3 |
|
|
|
| Income Taxes |
| 186,283 |
| 166,769 |
| 11.7 |
|
|
|
| Income from Continuing Operations |
| 305,302 |
| 287,304 |
| 6.3 |
|
|
|
| Discontinued Operations, Net of Income Taxes |
| 4,200 |
| - |
| nm |
|
|
|
| Net Income | $ | 309,502 |
| 287,304 |
| 7.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic Earnings Per Share |
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations | $ | 0.94 |
| 0.90 |
| 3.7 |
|
|
|
| Net Income |
| 0.95 |
| 0.90 |
| 5.1 |
|
|
|
| Diluted Earnings Per Share |
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations |
| 0.93 |
| 0.90 |
| 3.3 |
|
|
|
| Net Income |
| 0.94 |
| 0.90 |
| 4.8 |
|
|
|
| Dividends Declared Per Share |
| 0.41 |
| 0.39 |
| 5.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets * |
| 1.93 | % | 2.02 |
| (9) | bp |
|
|
| Return on Equity * |
| 16.33 |
| 18.25 |
| (192) |
|
|
|
| Average Shares Outstanding - Basic |
| 326,051 |
| 318,236 |
| 2.5 | % |
|
|
| Average Shares Outstanding - Diluted |
| 329,920 |
| 320,840 |
| 2.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
| ||
nm - not meaningful |
|
|
|
|
|
|
|
| ||
* -ratios are annualized |
|
|
|
|
|
|
|
|
Synovus |
|
|
|
|
|
|
|
|
|
| 5 of 11 |
| ||
| INCOME STATEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands, except per share data) |
| 2007 |
| 2006 |
| 2nd Quarter | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Quarter |
| First Quarter |
| Fourth Quarter |
| Third Quarter |
| Second Quarter |
| '07 vs. '06 Change | |
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 565,737 |
| 549,253 |
| 547,088 |
| 535,038 |
| 499,191 |
| 13.3 | % |
| Interest Expense |
| 272,536 |
| 261,637 |
| 253,998 |
| 241,027 |
| 210,510 |
| 29.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 293,201 |
| 287,616 |
| 293,090 |
| 294,011 |
| 288,681 |
| 1.6 |
|
| Tax Equivalent Adjustment |
| 1,295 |
| 1,354 |
| 1,458 |
| 1,409 |
| 1,478 |
| (12.4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 291,906 |
| 286,262 |
| 291,632 |
| 292,602 |
| 287,203 |
| 1.6 |
|
| Provision for Loan Losses |
| 20,281 |
| 20,515 |
| 18,675 |
| 18,390 |
| 18,534 |
| 9.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 271,625 |
| 265,747 |
| 272,957 |
| 274,212 |
| 268,669 |
| 1.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Electronic Payment Processing Services |
| 243,411 |
| 228,742 |
| 302,370 |
| 231,753 |
| 231,274 |
| 5.2 |
|
| Merchant Acquiring Services |
| 64,277 |
| 60,680 |
| 64,957 |
| 65,548 |
| 65,820 |
| (2.3) |
|
| Other Transaction Processing Services Revenue |
| 55,121 |
| 53,123 |
| 51,634 |
| 44,813 |
| 45,001 |
| 22.5 |
|
| Service Charges on Deposits |
| 28,050 |
| 26,370 |
| 28,136 |
| 29,292 |
| 28,800 |
| (2.6) |
|
| Fiduciary and Asset Management Fees |
| 12,434 |
| 12,262 |
| 12,710 |
| 11,868 |
| 11,509 |
| 8.0 |
|
| Brokerage and Investment Banking Revenue |
| 7,809 |
| 7,449 |
| 6,721 |
| 6,502 |
| 6,559 |
| 19.1 |
|
| Mortgage Banking Income |
| 7,695 |
| 7,226 |
| 6,837 |
| 8,440 |
| 8,105 |
| (5.1) |
|
| Bankcard Fees |
| 11,567 |
| 11,880 |
| 11,218 |
| 11,438 |
| 11,093 |
| 4.3 |
|
| Securities Gains (Losses) |
| 258 |
| 447 |
| - |
| (982) |
| (1,062) |
| nm |
|
| Other Fee Income |
| 10,411 |
| 9,427 |
| 9,079 |
| 10,024 |
| 10,357 |
| 0.5 |
|
| Other Non-Interest Income |
| 15,187 |
| 10,726 |
| 21,707 |
| 10,057 |
| 10,915 |
| 39.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income before Reimbursable Items |
| 456,220 |
| 428,332 |
| 515,369 |
| 428,753 |
| 428,371 |
| 6.5 |
|
| Reimbursable Items |
| 95,828 |
| 85,727 |
| 83,894 |
| 99,187 |
| 86,138 |
| 11.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 552,048 |
| 514,059 |
| 599,263 |
| 527,940 |
| 514,509 |
| 7.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 261,768 |
| 254,953 |
| 256,691 |
| 256,220 |
| 233,847 |
| 11.9 |
|
| Occupancy & Equipment Expense |
| 94,234 |
| 92,914 |
| 116,470 |
| 100,504 |
| 99,495 |
| (5.3) |
|
| Other Non-Interest Expense |
| 103,448 |
| 98,557 |
| 115,755 |
| 98,995 |
| 109,690 |
| (5.7) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense before Reimbursable Items |
| 459,450 |
| 446,424 |
| 488,916 |
| 455,719 |
| 443,032 |
| 3.7 |
|
| Reimbursable Items |
| 95,828 |
| 85,727 |
| 83,894 |
| 99,187 |
| 86,138 |
| 11.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 555,278 |
| 532,151 |
| 572,810 |
| 554,905 |
| 529,170 |
| 4.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Minority Interest in Consolidated Subsidiaries |
| 13,187 |
| 11,278 |
| 16,790 |
| 10,406 |
| 11,165 |
| 18.1 |
|
| Income from Continuing Operations before Income Taxes |
| 255,208 |
| 236,377 |
| 282,620 |
| 236,840 |
| 242,843 |
| 5.1 |
|
| Income Taxes |
| 96,658 |
| 89,624 |
| 107,073 |
| 82,774 |
| 90,046 |
| 7.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations |
| 158,550 |
| 146,753 |
| 175,547 |
| 154,066 |
| 152,797 |
| 3.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discontinued Operations, Net of Income Taxes |
| 4,200 |
| - |
| - |
| - |
| - |
| nm |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income | $ | 162,750 |
| 146,753 |
| 175,547 |
| 154,066 |
| 152,797 |
| 6.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic Earnings Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations | $ | 0.49 |
| 0.45 |
| 0.54 |
| 0.48 |
| 0.47 |
| 2.6 |
|
| Net Income |
| 0.50 |
| 0.45 |
| 0.54 |
| 0.48 |
| 0.47 |
| 5.3 |
|
| Diluted Earnings Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations |
| 0.48 |
| 0.45 |
| 0.54 |
| 0.47 |
| 0.47 |
| 2.3 |
|
| Net Income |
| 0.49 |
| 0.45 |
| 0.54 |
| 0.47 |
| 0.47 |
| 5.0 |
|
| Dividends Declared Per Share |
| 0.21 |
| 0.21 |
| 0.20 |
| 0.20 |
| 0.20 |
| 5.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets * |
| 2.00 | % | 1.86 | % | 2.22 | % | 2.00 | % | 2.07 | % | (7) | bp |
| Return on Equity * |
| 16.69 |
| 15.94 |
| 19.03 |
| 17.63 |
| 18.45 |
| (176) |
|
| Average Shares Outstanding - Basic |
| 326,410 |
| 325,687 |
| 324,555 |
| 323,657 |
| 322,783 |
| 1.1 | % |
| Average Shares Outstanding - Diluted |
| 330,263 |
| 329,573 |
| 328,122 |
| 326,834 |
| 325,421 |
| 1.5 |
|
bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
nm - not meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
| |
* - ratios are annualized |
|
|
|
|
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
| 6 of 11 |
| |
Financial Services Segment |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| INCOME STATEMENTS |
| Six Months Ended | |||||
| (In thousands) |
| June 30, | |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2007 |
| 2006 |
| Change | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 1,115,020 |
| 940,153 |
| 18.6 | % |
| Interest Expense |
| 540,967 |
| 391,043 |
| 38.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 574,053 |
| 549,110 |
| 4.5 |
|
| Tax Equivalent Adjustment |
| 2,629 |
| 2,946 |
| (10.8) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 571,424 |
| 546,164 |
| 4.6 |
|
| Provision for Loan Losses |
| 40,797 |
| 38,083 |
| 7.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 530,627 |
| 508,081 |
| 4.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
| Service Charges on Deposits |
| 54,420 |
| 54,989 |
| (1.0) |
|
| Fiduciary and Asset Management Fees |
| 25,129 |
| 23,629 |
| 6.3 |
|
| Brokerage and Investment Banking Revenue |
| 15,259 |
| 13,506 |
| 13.0 |
|
| Mortgage Banking Income |
| 14,920 |
| 13,978 |
| 6.7 |
|
| Bankcard Fees |
| 23,447 |
| 21,647 |
| 8.3 |
|
| Securities Gains (Losses) |
| 705 |
| (1,136) |
| nm |
|
| Other Fee Income |
| 19,838 |
| 19,640 |
| 1.0 |
|
| Other Non-Interest Income |
| 30,116 |
| 26,262 |
| 14.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 183,834 |
| 172,517 |
| 6.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
| Personnel Expense |
| 229,749 |
| 221,401 |
| 3.8 |
|
| Occupancy & Equipment Expense |
| 54,860 |
| 48,333 |
| 13.5 |
|
| Other Non-Interest Expense |
| 108,210 |
| 100,063 |
| 8.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 392,819 |
| 369,797 |
| 6.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations before Income Taxes |
| 321,642 |
| 310,801 |
| 3.5 |
|
| Income Taxes |
| 115,787 |
| 110,657 |
| 4.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations |
| 205,855 |
| 200,145 |
| 2.9 |
|
|
|
|
|
|
|
|
|
|
| Discontinued Operations, Net of Income Taxes |
| 4,200 |
| - |
| nm |
|
|
|
|
|
|
|
|
|
|
| Net Income | $ | 210,055 |
| 200,145 |
| 5.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets * |
| 1.37 |
| 1.47 |
| (10) | bp |
| Return on Equity * |
| 15.16 |
| 17.38 |
| (222) |
|
|
|
|
|
|
|
|
|
|
bp - change is measured as difference in basis points. |
|
|
|
|
|
|
| |
nm - not meaningful |
|
|
|
|
|
|
| |
* - ratios are annualized |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
|
|
|
|
|
|
| 7 of 11 |
| |
Financial Services Segment |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
| 2007 |
| 2006 |
| 2nd Quarter | |||||||
|
|
| Second Quarter |
| First Quarter |
| Fourth Quarter |
| Third Quarter |
| Second Quarter |
|
'07 vs. '06 Change | |
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Income (Taxable Equivalent) | $ | 565,777 |
| 549,243 |
| 547,079 |
| 535,025 |
| 499,184 |
| 13.3 | % |
| Interest Expense |
| 276,017 |
| 264,950 |
| 256,760 |
| 242,875 |
| 212,499 |
| 29.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income (Taxable Equivalent) |
| 289,760 |
| 284,293 |
| 290,319 |
| 292,150 |
| 286,685 |
| 1.1 |
|
| Tax Equivalent Adjustment |
| 1,285 |
| 1,344 |
| 1,448 |
| 1,395 |
| 1,471 |
| (12.6) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
| 288,475 |
| 282,949 |
| 288,871 |
| 290,755 |
| 285,214 |
| 1.1 |
|
| Provision for Loan Losses |
| 20,281 |
| 20,515 |
| 18,675 |
| 18,390 |
| 18,534 |
| 9.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income After Provision |
| 268,194 |
| 262,434 |
| 270,196 |
| 272,365 |
| 266,680 |
| 0.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Service Charges on Deposits |
| 28,050 |
| 26,370 |
| 28,136 |
| 29,292 |
| 28,800 |
| (2.6) |
|
| Fiduciary and Asset Management Fees |
| 12,658 |
| 12,473 |
| 12,921 |
| 12,078 |
| 11,720 |
| 8.0 |
|
| Brokerage and Investment Banking Revenue |
| 7,809 |
| 7,449 |
| 6,721 |
| 6,502 |
| 6,559 |
| 19.1 |
|
| Mortgage Banking Income |
| 7,695 |
| 7,226 |
| 6,837 |
| 8,440 |
| 8,105 |
| (5.1) |
|
| Bankcard Fees |
| 11,567 |
| 11,880 |
| 11,218 |
| 11,438 |
| 11,093 |
| 4.3 |
|
| Securities Gains (Losses) |
| 258 |
| 447 |
| - |
| (982) |
| (1,062) |
| nm |
|
| Other Fee Income |
| 10,411 |
| 9,427 |
| 9,079 |
| 10,024 |
| 10,357 |
| 0.5 |
|
| Other Non-Interest Income |
| 17,883 |
| 12,231 |
| 22,682 |
| 12,527 |
| 13,881 |
| 28.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Income |
| 96,331 |
| 87,503 |
| 97,594 |
| 89,319 |
| 89,453 |
| 7.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Interest Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Personnel Expense |
| 115,822 |
| 113,927 |
| 115,131 |
| 113,842 |
| 113,951 |
| 1.6 |
|
| Occupancy & Equipment Expense |
| 27,572 |
| 27,290 |
| 26,370 |
| 25,566 |
| 24,835 |
| 11.0 |
|
| Other Non-Interest Expense |
| 54,628 |
| 53,580 |
| 61,930 |
| 51,899 |
| 52,064 |
| 4.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Non-Interest Expense |
| 198,022 |
| 194,797 |
| 203,430 |
| 191,307 |
| 190,850 |
| 3.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations before Income Taxes |
| 166,503 |
| 155,140 |
| 164,360 |
| 170,377 |
| 165,283 |
| 0.7 |
|
| Income Taxes |
| 61,055 |
| 54,733 |
| 59,384 |
| 60,394 |
| 58,899 |
| 3.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from Continuing Operations |
| 105,448 |
| 100,407 |
| 104,976 |
| 109,983 |
| 106,384 |
| (0.9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Discontinued Operations, Net of Income Taxes |
| 4,200 |
| - |
| - |
| - |
| - |
| nm |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income | $ | 109,648 |
| 100,407 |
| 104,976 |
| 109,983 |
| 106,384 |
| 3.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Return on Assets * |
| 1.40 | % | 1.33 | % | 1.39 | % | 1.49 | % | 1.50 | % | (10) | bp |
| Return on Equity * |
| 15.37 |
| 14.95 |
| 15.45 |
| 17.04 |
| 17.42 |
| (205) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
bp - change is measured as difference in basis points. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
nm - not meaningful |
|
|
|
|
|
|
|
|
|
|
|
|
| |
* - ratios are annualized |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
| 8 of 11 |
| |
|
|
|
|
|
|
|
|
|
| BALANCE SHEETS |
| June 30, 2007 |
| December 31, 2006 |
| June 30, 2006 |
|
|
|
|
|
|
|
|
|
|
| (In thousands, except share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
| Cash and due from banks | $ | 882,344 |
| 889,975 |
| 887,154 |
|
| Interest earning deposits with banks |
| 5,157 |
| 19,389 |
| 11,885 |
|
| Federal funds sold and securities purchased |
|
|
|
|
|
|
|
| under resale agreements |
| 241,685 |
| 101,091 |
| 203,631 |
|
| Trading account assets |
| 70,626 |
| 15,266 |
| 46,939 |
|
| Mortgage loans held for sale |
| 190,587 |
| 175,042 |
| 170,650 |
|
| Investment securities available for sale |
| 3,558,813 |
| 3,352,357 |
| 3,137,486 |
|
|
|
|
|
|
|
|
|
|
| Loans, net of unearned income |
| 25,541,742 |
| 24,654,552 |
| 23,661,964 |
|
| Allowance for loan losses |
| (331,130) |
| (314,459) |
| (313,694) |
|
| Loans, net |
| 25,210,612 |
| 24,340,093 |
| 23,348,270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Premises and equipment, net |
| 784,703 |
| 752,738 |
| 707,988 |
|
| Contract acquisition costs and computer software, net |
| 358,021 |
| 383,899 |
| 406,793 |
|
| Goodwill, net |
| 683,732 |
| 669,515 |
| 607,501 |
|
| Other intangible assets, net |
| 52,177 |
| 63,586 |
| 52,894 |
|
| Other assets |
| 1,184,788 |
| 1,091,822 |
| 945,897 |
|
|
|
|
|
|
|
|
|
|
| Total assets | $ | 33,223,246 |
| 31,854,773 |
| 30,527,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
| Deposits: |
|
|
|
|
|
|
|
| Non-interest bearing retail and commercial deposits | $ | 3,595,118 |
| 3,538,598 |
| 3,806,277 |
|
| Interest bearing retail and commercial deposits |
| 18,126,822 |
| 17,741,354 |
| 16,124,042 |
|
|
|
|
|
|
|
|
|
|
| Total retail and commercial deposits |
| 21,721,940 |
| 21,279,952 |
| 19,930,319 |
|
| Brokered time deposits |
| 3,275,948 |
| 3,014,495 |
| 3,123,380 |
|
|
|
|
|
|
|
|
|
|
| Total deposits |
| 24,997,887 |
| 24,294,447 |
| 23,053,699 |
|
|
|
|
|
|
|
|
|
|
| Federal funds purchased and other short-term |
|
|
|
|
|
|
|
| liabilities |
| 1,786,187 |
| 1,572,809 |
| 1,974,272 |
|
| Long-term debt |
| 1,673,124 |
| 1,350,139 |
| 1,421,578 |
|
| Other liabilities |
| 578,314 |
| 692,019 |
| 488,559 |
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
| 29,035,511 |
| 27,909,414 |
| 26,938,108 |
|
|
|
|
|
|
|
|
|
|
| Minority interest in consolidated subsidiaries |
| 262,013 |
| 236,709 |
| 215,521 |
|
|
|
|
|
|
|
|
|
|
| Shareholders' equity: |
|
|
|
|
|
|
|
| Common stock, par value $1.00 a share (1) |
| 333,078 |
| 331,214 |
| 329,097 |
|
| Additional Paid in Capital |
| 1,091,541 |
| 1,033,055 |
| 960,054 |
|
| Treasury stock (2) |
| (113,944) |
| (113,944) |
| (113,944) |
|
| Accumulated other comprehensive loss |
| (20,905) |
| (2,129) |
| (54,783) |
|
| Retained earnings |
| 2,635,952 |
| 2,460,454 |
| 2,253,035 |
|
|
|
|
|
|
|
|
|
|
| Total shareholders' equity (3) |
| 3,925,722 |
| 3,708,650 |
| 3,373,459 |
|
|
|
|
|
|
|
|
|
|
| Total liabilities and shareholders' equity | $ | 33,223,246 |
| 31,854,773 |
| 30,527,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) Common shares outstanding: 327,416,936; 325,552,375; and 323,435,831 at June 30, 2007, December 31, 2006, and June 30, 2006, respectively. |
| ||||||
| (2) Treasury shares: 5,661,538 at June 30, 2007, December 31, 2006, and June 30, 2006. |
|
|
|
| |||
| (3) Book value per share: $11.99; $11.39; and $10.43 at June 30, 2007, December 31, 2006, and June 30, 2006, respectively. |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SYNOVUS |
|
|
|
|
| 9 of 11 | |||||
AVERAGE BALANCES AND YIELDS/RATES * |
|
|
|
|
|
|
|
| |||
(Dollars in thousands) |
|
|
|
|
|
|
|
| |||
|
|
| 2007 | 2006 |
| ||||||
|
|
| Second |
| First | Fourth | Third | Second |
| ||
|
|
| Quarter |
| Quarter | Quarter | Quarter | Quarter |
| ||
Interest Earning Assets |
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
| ||
Taxable Investment Securities | $ | 3,420,831 |
| 3,301,137 | 3,178,852 | 3,025,507 | 3,008,122 |
| |||
| Yield |
| 4.83 | % | 4.77 | 4.51 | 4.39 | 4.21 |
| ||
Tax-Exempt Investment Securities | $ | 178,183 |
| 185,012 | 193,737 | 197,024 | 202,676 |
| |||
| Yield (taxable equivalent) |
| 6.75 | % | 6.84 | 6.95 | 6.70 | 6.73 |
| ||
Trading Account Assets | $ | 59,311 |
| 64,204 | 34,471 | 53,181 | 47,398 |
| |||
| Yield |
| 6.47 | % | 5.65 | 6.67 | 5.30 | 5.72 |
| ||
Commercial Loans | $ | 21,739,107 |
| 21,242,921 | 20,791,108 | 20,407,139 | 19,723,353 |
| |||
| Yield |
| 8.20 | % | 8.24 | 8.25 | 8.23 | 7.99 |
| ||
Consumer Loans | $ | 896,267 |
| 928,256 | 928,521 | 929,964 | 898,210 |
| |||
| Yield |
| 8.14 | % | 8.01 | 7.98 | 7.96 | 7.88 |
| ||
Mortgage Loans | $ | 1,110,754 |
| 1,081,760 | 1,089,794 | 1,091,425 | 1,071,477 |
| |||
| Yield |
| 7.03 | % | 6.98 | 6.99 | 6.93 | 6.82 |
| ||
Credit Card Loans | $ | 275,105 |
| 270,444 | 268,705 | 265,120 | 260,010 |
| |||
| Yield |
| 10.64 | % | 11.17 | 10.89 | 10.86 | 10.81 |
| ||
Home Equity Loans | $ | 1,407,005 |
| 1,385,012 | 1,316,842 | 1,252,803 | 1,231,592 |
| |||
| Yield |
| 7.82 | % | 7.68 | 7.82 | 7.97 | 7.69 |
| ||
Allowance for Loan Losses | $ | (329,028) |
| (317,977) | (317,603) | (318,195) | (307,674) |
| |||
|
|
|
|
|
|
|
|
|
| ||
Loans, Net | $ | 25,099,209 |
| 24,590,415 | 24,077,367 | 23,628,256 | 22,876,968 |
| |||
| Yield |
| 8.26 | % | 8.28 | 8.29 | 8.29 | 8.06 |
| ||
Mortgage Loans Held for Sale | $ | 163,364 |
| 160,482 | 149,113 | 130,196 | 132,605 |
| |||
| Yield |
| 6.18 | % | 6.07 | 6.02 | 6.51 | 7.08 |
| ||
Federal Funds Sold and Other Short-Term Investments | $ | 131,092 |
| 147,932 | 120,804 | 155,200 | 139,923 |
| |||
| Yield |
| 5.42 | % | 5.61 | 5.40 | 5.32 | 5.07 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Total Interest Earning Assets | $ | 29,051,989 |
| 28,449,181 | 27,754,344 | 27,189,364 | 26,407,692 |
| |||
| Yield |
| 7.81 | % | 7.82 | 7.83 | 7.81 | 7.58 |
| ||
|
|
|
|
|
|
|
|
| |||
Interest Bearing Liabilities |
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
| ||
Interest Bearing Demand Deposits | $ | 3,141,899 |
| 3,113,531 | 3,034,375 | 2,946,646 | 3,040,292 |
| |||
| Rate |
| 2.28 | % | 2.30 | 2.18 | 2.03 | 1.81 |
| ||
Money Market Accounts | $ | 7,388,012 |
| 7,083,633 | 6,956,181 | 6,587,365 | 6,196,865 |
| |||
| Rate |
| 4.49 | % | 4.49 | 4.45 | 4.38 | 4.00 |
| ||
Savings Deposits | $ | 497,422 |
| 502,948 | 514,317 | 547,779 | 573,776 |
| |||
| Rate |
| 0.57 | % | 0.68 | 0.72 | 0.72 | 0.69 |
| ||
Time Deposits Under $100,000 | $ | 3,020,881 |
| 3,037,815 | 3,003,141 | 2,917,518 | 2,738,528 |
| |||
| Rate |
| 4.85 | % | 4.79 | 4.64 | 4.38 | 3.92 |
| ||
Time Deposits Over $100,000 (less brokered |
|
|
|
|
|
|
|
| |||
time deposits) | $ | 4,118,221 |
| 4,101,471 | 3,997,493 | 3,756,853 | 3,362,304 |
| |||
| Rate |
| 5.19 | % | 5.15 | 5.07 | 4.92 | 4.44 |
| ||
Total Interest Bearing Core Deposits |
| 18,166,435 |
| 17,839,398 | 17,505,507 | 16,756,161 | 15,911,765 |
| |||
| Rate |
| 4.22 | % | 4.20 | 4.12 | 3.97 | 3.54 |
| ||
Brokered Time Deposits | $ | 3,175,161 |
| 3,030,793 | 3,137,889 | 3,165,905 | 2,740,674 |
| |||
| Rate |
| 5.05 | % | 5.08 | 5.01 | 4.85 | 4.57 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Total Interest Bearing Deposits | $ | 21,341,596 |
| 20,870,191 | 20,643,396 | 19,922,066 | 18,652,438 |
| |||
| Rate |
| 4.34 | % | 4.33 | 4.26 | 4.11 | 3.69 |
| ||
Federal Funds Purchased and Other |
|
|
|
|
|
|
|
| |||
Short-Term Liabilities | $ | 1,711,310 |
| 1,690,049 | 1,283,832 | 1,553,699 | 1,772,113 |
| |||
| Rate |
| 4.90 | % | 4.87 | 4.72 | 4.73 | 4.76 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Long-Term Debt | $ | 1,565,014 |
| 1,450,466 | 1,360,635 | 1,364,226 | 1,586,586 |
| |||
| Rate |
| 5.12 | % | 5.05 | 4.90 | 4.57 | 4.42 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Total Interest Bearing Liabilities | $ | 24,617,920 |
| 24,010,706 | 23,287,863 | 22,839,991 | 22,011,138 |
| |||
| Rate |
| 4.43 | % | 4.41 | 4.32 | 4.18 | 3.83 |
| ||
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Non-Interest Bearing Demand Deposits | $ | 3,372,063 |
| 3,372,105 | 3,469,233 | 3,528,942 | 3,511,554 |
| |||
Shareholders' Equity | $ | 3,910,911 |
| 3,733,523 | 3,659,996 | 3,467,029 | 3,321,397 |
| |||
Total Assets | $ | 32,711,205 |
| 32,022,912 | 31,307,991 | 30,613,827 | 29,563,064 |
| |||
|
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Net Interest Margin |
| 4.05 | % | 4.10 | 4.20 | 4.30 | 4.39 |
| |||
* Yields and rates are annualized. |
|
|
|
|
|
|
|
| |||
SYNOVUS |
|
|
|
|
|
|
|
|
| 10 of 11 |
|
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION |
|
|
|
|
|
|
| ||||
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
| June 30, 2007 |
| ||||||||
|
| Total Loans |
| Loans as a % |
|
| Total |
|
| Nonperforming Loans |
|
|
|
|
|
|
|
|
| ||||
Loan Type |
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Family | $ | 489,453 |
| 1.9 | % | $ | 362 |
|
| 0.2 | % |
Hotels |
| 581,376 |
| 2.3 |
|
| - |
|
| - |
|
Office Buildings |
| 857,360 |
| 3.4 |
|
| 3,339 |
|
| 1.9 |
|
Shopping Centers |
| 712,210 |
| 2.8 |
|
| - |
|
| 0.0 |
|
Commercial Development |
| 920,913 |
| 3.6 |
|
| 1,518 |
|
| 0.8 |
|
Other Investment Property |
| 644,109 |
| 2.5 |
|
| 740 |
|
| 0.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investment Properties |
| 4,205,421 |
| 16.5 |
|
| 5,959 |
|
| 3.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 Family Construction |
| 2,382,147 |
| 9.3 |
|
| 39,389 |
|
| 21.8 |
|
1-4 Family Perm / Mini-Perm |
| 1,167,658 |
| 4.6 |
|
| 21,651 |
|
| 12.0 |
|
Residential Development |
| 2,297,806 |
| 9.0 |
|
| 31,674 |
|
| 17.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total 1-4 Family Properties |
| 5,847,611 |
| 22.9 |
|
| 92,714 |
|
| 51.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Acquisition |
| 1,430,431 |
| 5.6 |
|
| 10,553 |
|
| 5.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial Real Estate |
| 11,483,463 |
| 45.0 |
|
| 109,226 |
|
| 60.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial , Financial, and Agricultural |
| 6,246,493 |
| 24.4 |
|
| 41,100 |
|
| 22.7 |
|
Owner-Occupied |
| 4,132,559 |
| 16.2 |
|
| 18,929 |
|
| 10.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial & Industrial |
| 10,379,052 |
| 40.6 |
|
| 60,029 |
|
| 33.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Equity |
| 1,417,681 |
| 5.6 |
|
| 3,355 |
|
| 1.9 |
|
Consumer Mortgages |
| 1,544,932 |
| 6.0 |
|
| 6,557 |
|
| 3.6 |
|
Credit Card |
| 280,806 |
| 1.1 |
|
| - |
|
| 0.0 |
|
Other Retail Loans |
| 483,820 |
| 1.9 |
|
| 1,609 |
|
| 0.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail |
| 3,727,239 |
| 14.6 |
|
| 11,521 |
|
| 6.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unearned Income |
| (48,012) |
| (0.2) |
|
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total | $ | 25,541,742 |
| 100.0 | % | $ | 180,776 |
|
| 100.0 | % |
|
|
|
|
|
|
|
|
|
|
|
|
(LOANS OUTSTANDING BY TYPE COMPARISON |
|
|
|
|
|
|
|
|
|
|
| ||
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Loans |
|
| 2Q07 vs. 4Q06 % change (1) |
|
|
|
| 2Q07 vs. 2Q06 % change |
| ||
Loan Type |
| June 30, |
| December 31, |
|
|
|
| June 30, |
|
| ||
Multi-Family | $ | 489,453 |
| 505,586 |
|
| (6.4) | % | $ | 532,278 |
| (8.0) | % |
Hotels |
| 581,376 |
| 643,180 |
|
| (19.4) |
|
| 680,771 |
| (14.6) |
|
Office Buildings |
| 857,360 |
| 881,658 |
|
| (5.6) |
|
| 869,955 |
| 1.4 |
|
Shopping Centers |
| 712,210 |
| 764,924 |
|
| (13.9) |
|
| 717,644 |
| (0.8) |
|
Commercial Development |
| 920,913 |
| 876,570 |
|
| 10.2 |
|
| 913,642 |
| 0.8 |
|
Other Investment Property |
| 644,109 |
| 434,298 |
|
| 97.4 |
|
| 411,340 |
| 56.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investment Properties |
| 4,205,421 |
| 4,106,216 |
|
| 4.9 |
|
| 4,125,630 |
| 1.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 Family Construction |
| 2,382,147 |
| 2,347,025 |
|
| 3.0 |
|
| 2,140,393 |
| 11.3 |
|
1-4 Family Perm / Mini-Perm |
| 1,167,658 |
| 1,193,895 |
|
| (4.4) |
|
| 1,178,113 |
| (0.9) |
|
Residential Development |
| 2,297,806 |
| 2,036,207 |
|
| 25.9 |
|
| 1,873,333 |
| 22.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total 1-4 Family Properties |
| 5,847,611 |
| 5,577,127 |
|
| 9.8 |
|
| 5,191,839 |
| 12.6 |
|
Land Acquisition |
| 1,430,431 |
| 1,402,402 |
|
| 4.0 |
|
| 1,272,921 |
| 12.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial Real Estate |
| 11,483,463 |
| 11,085,745 |
|
| 7.2 |
|
| 10,590,390 |
| 8.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial , Financial, and Agricultural |
| 6,246,493 |
| 5,875,854 |
|
| 12.7 |
|
| 5,589,922 |
| 11.7 |
|
Owner-Occupied |
| 4,132,559 |
| 4,080,742 |
|
| 2.6 |
|
| 4,017,147 |
| 2.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial & Industrial |
| 10,379,052 |
| 9,956,596 |
|
| 8.6 |
|
| 9,607,069 |
| 8.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Equity |
| 1,417,681 |
| 1,364,030 |
|
| 7.9 |
|
| 1,245,895 |
| 13.8 |
|
Consumer Mortgages |
| 1,544,932 |
| 1,517,850 |
|
| 3.6 |
|
| 1,493,278 |
| 3.5 |
|
Credit Card |
| 280,806 |
| 276,269 |
|
| 3.3 |
|
| 266,233 |
| 5.5 |
|
Other Retail Loans |
| 483,820 |
| 500,757 |
|
| (6.8) |
|
| 511,398 |
| (5.4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail |
| 3,727,239 |
| 3,658,906 |
|
| 3.8 |
|
| 3,516,804 |
| 6.0 |
|
Unearned Income |
| (48,012) |
| (46,695) |
|
| 5.7 |
|
| (52,299) |
| (8.2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total | $ | 25,541,742 |
| 24,654,552 |
|
| 7.3 | % | $ | 23,661,964 |
| 7.9 | % |
(1) Percentage change is annualized.
SYNOVUS |
|
|
|
|
|
|
|
|
|
|
| 11 of 11 |
| |
CREDIT QUALITY DATA |
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Dollars in thousands) |
| 2007 |
| 2006 |
| 2nd Quarter | ||||||||
|
| Second |
| First |
| Fourth |
| Third |
| Second |
| '07 vs. '06 | ||
|
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Quarter |
| Change | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Nonperforming Loans | $ | 180,776 |
| 138,790 |
| 96,623 |
| 94,766 |
| 88,805 |
| 103.6 | % | |
Other Real Estate |
| 41,259 |
| 31,710 |
| 25,923 |
| 31,549 |
| 25,634 |
| 61.0 |
| |
Nonperforming Assets |
| 222,035 |
| 170,500 |
| 122,545 |
| 126,315 |
| 114,439 |
| 94.0 |
| |
Allowance for Loan Losses |
| 331,130 |
| 326,826 |
| 314,459 |
| 319,973 |
| 313,694 |
| 5.6 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net Charge-Offs - Quarter |
| 15,978 |
| 8,148 |
| 24,190 |
| 12,111 |
| 9,528 |
| 67.7 |
| |
Net Charge-Offs - YTD |
| 24,126 |
| 8,148 |
| 60,217 |
| 36,027 |
| 23,916 |
| 0.9 |
| |
Net Charge-Offs / Average Loans - Quarter |
| 0.25 |
| 0.13 |
| 0.39 |
| 0.20 |
| 0.17 |
|
|
| |
Net Charge-Offs / Average Loans - YTD |
| 0.19 |
| 0.13 |
| 0.26 |
| 0.21 |
| 0.21 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Nonperforming Loans / Loans & ORE |
| 0.71 |
| 0.55 |
| 0.39 |
| 0.39 |
| 0.38 |
|
|
| |
Nonperforming Assets / Loans & ORE |
| 0.87 |
| 0.68 |
| 0.50 |
| 0.52 |
| 0.48 |
|
|
| |
Allowance / Loans |
| 1.30 |
| 1.30 |
| 1.28 |
| 1.32 |
| 1.33 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Allowance / Nonperforming Loans |
| 183.17 |
| 235.48 |
| 325.45 |
| 337.65 |
| 353.24 |
|
|
| |
Allowance / Nonperforming Assets |
| 149.13 |
| 191.69 |
| 256.61 |
| 253.31 |
| 274.11 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Past Due Loans over 90 days |
| 23,067 |
| 27,414 |
| 34,031 |
| 18,002 |
| 19,340 |
|
|
| |
As a Percentage of Loans Outstanding |
| 0.09 |
| 0.11 |
| 0.14 |
| 0.07 |
| 0.08 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Total Past Dues |
| 164,180 |
| 150,188 |
| 154,027 |
| 140,526 |
| 111,464 |
|
|
| |
As a Percentage of Loans Outstanding |
| 0.64 |
| 0.60 |
| 0.62 |
| 0.58 |
| 0.47 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
REGULATORY CAPITAL RATIOS (1) |
|
|
|
|
|
|
|
(Dollars in thousands) |
|
|
|
|
|
|
|
|
| June 30, 2007 |
| December 31,2006 |
| June 30, 2006 |
|
|
|
|
|
|
|
|
|
Tier 1 Capital | $ | 3,512,469 |
| 3,254,603 |
| 3,000,714 |
|
Total Risk-Based Capital |
| 4,593,879 |
| 4,319,062 |
| 4,064,409 |
|
Tier 1 Capital Ratio |
| 11.22 |
| 10.87 |
| 10.40 |
|
Total Risk-Based Capital Ratio |
| 14.67 |
| 14.43 |
| 14.09 |
|
Leverage Ratio |
| 10.98 |
| 10.64 |
| 10.39 |
|
|
|
|
|
|
|
|
|
(1) June 30, 2007 information is preliminary. |
|
|
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|
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|
|
|
|
|
|
|
|
|
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|
|