Synovus Financial (SNV) 10-Q 2016 Q3 Quarterly report

EXHIBIT 12.1

SYNOVUS FINANCIAL CORP.

RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended September 30, 2016			Years Ended December 31,
(dollars in thousands)				2015		2014		2013	2012	2011
Ratio 1 – Including interest on deposits
Earnings:
Income (loss) from continuing operations before income taxes	$	280,381		358,573		302,559		252,628	31,477	(59,532	)
Fixed charges excluding preferred stock dividends and accretion	98,040			126,355		117,001		126,379	158,225	225,938
Total	$	378,421		484,928		419,560		379,007	189,702	166,406
Fixed charges:
Interest on deposits	48,072			65,534		55,179		64,392	95,749	173,885
Interest on short-term borrowings	154			168		220		324	614	1,063
Interest on long-term debt	44,394			52,942		54,009		54,106	53,659	42,654
Portion of rents representative of the interest factor (1/3) of expense	5,420			7,711		7,593		7,557	8,203	8,336
Preferred stock dividends and accretion	7,678			10,238		10,238		40,830	58,703	58,088
Total fixed charges including preferred stock dividends and accretion	$	105,718		136,593		127,239		167,209	216,928	284,026
Ratio of earnings to fixed charges	3.58		x	3.55	x	3.30	x	2.27x	0.87x	0.59x
Ratio 2 – Excluding interest on deposits
Earnings:
Income (loss) from continuing operations before income taxes	$	280,381		358,573		302,559		252,628	31,477	(59,532	)
Fixed charges excluding preferred stock dividends and accretion	49,968			60,821		61,822		61,987	62,475	52,053
Total	$	330,349		419,394		364,381		314,615	93,952	(7,479	)
Fixed charges:
Interest on short-term borrowings	154			168		220		324	614	1,063
Interest on long-term debt	44,394			52,942		54,009		54,106	53,659	42,654
Portion of rents representative of the interest factor (1/3) of expense	5,420			7,711		7,593		7,557	8,203	8,337
Preferred stock dividends and accretion	7,678			10,238		10,238		40,830	58,703	58,088
Total fixed charges including preferred stock dividends and accretion	$	57,646		71,059		72,060		102,817	121,179	110,142
Ratio of earnings to fixed charges	5.73		x	5.90	x	5.06	x	3.06x	0.78x	nm