Synovus | Exhibit 99.2 | ||||||||||||||||||
INCOME STATEMENT DATA | |||||||||||||||||||
(Unaudited) | |||||||||||||||||||
(In thousands, except per share data) | 2019 | 2018 | First Quarter | ||||||||||||||||
First Quarter | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | '19 vs '18 | ||||||||||||||
% Change | |||||||||||||||||||
Interest income | $ | 504,839 | 357,394 | 343,942 | 329,834 | 313,134 | 61.2 | % | |||||||||||
Interest expense | 107,664 | 59,461 | 52,323 | 45,257 | 38,850 | 177.1 | |||||||||||||
Net interest income | 397,175 | 297,933 | 291,619 | 284,577 | 274,284 | 44.8 | |||||||||||||
Provision for loan losses | 23,569 | 12,148 | 14,982 | 11,790 | 12,776 | 84.5 | |||||||||||||
Net interest income after provision for loan losses | 373,606 | 285,785 | 276,637 | 272,787 | 261,508 | 42.9 | |||||||||||||
Non-interest income: | |||||||||||||||||||
Service charges on deposit accounts | 20,859 | 20,320 | 20,582 | 19,999 | 19,940 | 4.6 | |||||||||||||
Fiduciary and asset management fees | 13,578 | 13,805 | 13,462 | 13,983 | 13,435 | 1.1 | |||||||||||||
Card fees | 10,877 | 10,862 | 10,608 | 10,833 | 10,199 | 6.6 | |||||||||||||
Brokerage revenue | 9,406 | 9,643 | 9,329 | 8,900 | 8,695 | 8.2 | |||||||||||||
Mortgage banking income | 5,054 | 3,781 | 5,290 | 4,839 | 5,047 | 0.1 | |||||||||||||
Income from bank-owned life insurance | 5,290 | 3,682 | 3,771 | 3,733 | 4,217 | 25.4 | |||||||||||||
Swap fee income | 4,778 | 1,128 | 516 | 1,003 | 690 | nm | |||||||||||||
Investment securities gains/(losses), net | 75 | — | — | (1,296 | ) | — | nm | ||||||||||||
Increase/(decrease) in fair value of private equity investments, net | 858 | (2,084 | ) | 434 | (37 | ) | (3,056 | ) | nm | ||||||||||
Other non-interest income | 8,603 | 6,854 | 7,676 | 11,430 | 7,879 | 9.2 | |||||||||||||
Total non-interest income | 79,378 | 67,991 | 71,668 | 73,387 | 67,046 | 18.4 | |||||||||||||
Non-interest expense: | |||||||||||||||||||
Salaries and other personnel expense | 139,427 | 113,496 | 114,341 | 111,863 | 113,720 | 22.6 | |||||||||||||
Net occupancy and equipment expense | 38,394 | 34,260 | 32,088 | 32,654 | 31,480 | 22.0 | |||||||||||||
Third-party processing expense | 17,758 | 14,803 | 14,810 | 15,067 | 13,945 | 27.3 | |||||||||||||
FDIC insurance and other regulatory fees | 6,761 | 4,728 | 6,430 | 6,543 | 6,793 | (0.5 | ) | ||||||||||||
Professional fees | 6,348 | 8,650 | 6,298 | 6,284 | 5,505 | 15.3 | |||||||||||||
Advertising expense | 5,123 | 6,834 | 3,735 | 5,220 | 5,092 | 0.6 | |||||||||||||
Earnout liability adjustments | — | — | 11,652 | — | — | nm | |||||||||||||
Merger-related expense | 49,738 | 3,381 | 6,684 | — | — | nm | |||||||||||||
Amortization of intangibles | 3,392 | 292 | 292 | 292 | 292 | nm | |||||||||||||
Other operating expenses | 25,469 | 23,478 | 23,967 | 26,134 | 18,352 | 38.8 | |||||||||||||
Total non-interest expense | 292,410 | 209,922 | 220,297 | 204,057 | 195,179 | 49.8 | |||||||||||||
Income before income taxes | 160,574 | 143,854 | 128,008 | 142,117 | 133,375 | 20.4 | |||||||||||||
Income tax expense | 40,388 | 38,784 | 18,949 | 30,936 | 30,209 | 33.7 | |||||||||||||
Net income | 120,186 | 105,070 | 109,059 | 111,181 | 103,166 | 16.5 | |||||||||||||
Less: Preferred stock dividends and redemption charge | 3,150 | 3,151 | 9,729 | 2,559 | 2,559 | 23.1 | |||||||||||||
Net income available to common shareholders | $ | 117,036 | 101,919 | 99,330 | 108,622 | 100,607 | 16.3 | ||||||||||||
Net income per common share, basic | $ | 0.73 | 0.88 | 0.85 | 0.92 | 0.85 | (14.2 | )% | |||||||||||
Net income per common share, diluted | 0.72 | 0.87 | 0.84 | 0.91 | 0.84 | (14.7 | ) | ||||||||||||
Cash dividends declared per common share | 0.30 | 0.25 | 0.25 | 0.25 | 0.25 | 20.0 | |||||||||||||
Return on average assets * | 1.06 | % | 1.29 | 1.36 | 1.42 | 1.34 | (28 | )bps | |||||||||||
Return on average common equity * | 10.98 | 14.25 | 13.95 | 15.39 | 14.62 | (364 | ) | ||||||||||||
Weighted average common shares outstanding, basic | 160,927 | 116,303 | 117,241 | 118,397 | 118,666 | 35.6 | % | ||||||||||||
Weighted average common shares outstanding, diluted | 162,760 | 116,986 | 118,095 | 119,139 | 119,321 | 36.4 | |||||||||||||
nm - not meaningful | |||||||||||||||||||
bps - basis points | |||||||||||||||||||
* - ratios are annualized |
Synovus | |||||||||||
BALANCE SHEET DATA | March 31, 2019 | December 31, 2018 | March 31, 2018 | ||||||||
(Unaudited) | |||||||||||
(In thousands, except share data) | |||||||||||
ASSETS | |||||||||||
Cash and due from banks | $ | 519,681 | 468,426 | 348,027 | |||||||
Interest-bearing funds with Federal Reserve Bank | 688,470 | 641,476 | 636,947 | ||||||||
Interest earning deposits with banks | 24,147 | 19,841 | 16,851 | ||||||||
Federal funds sold and securities purchased under resale agreements | 33,627 | 13,821 | 57,192 | ||||||||
Cash and cash equivalents | 1,265,925 | 1,143,564 | 1,059,017 | ||||||||
Mortgage loans held for sale, at fair value | 55,970 | 37,129 | 50,439 | ||||||||
Investment securities available for sale, at fair value | 6,808,191 | 3,991,632 | 3,990,978 | ||||||||
Loans | 35,634,501 | 25,946,573 | 24,883,037 | ||||||||
Allowance for loan losses | (257,036 | ) | (250,555 | ) | (257,764 | ) | |||||
Loans, net | 35,377,465 | 25,696,018 | 24,625,273 | ||||||||
Cash surrender value of bank-owned life insurance | 761,098 | 554,134 | 543,684 | ||||||||
Premises and equipment, net | 479,965 | 434,307 | 424,342 | ||||||||
Goodwill | 480,215 | 57,315 | 57,315 | ||||||||
Other intangible assets | 74,683 | 9,875 | 10,750 | ||||||||
Other assets | 1,300,832 | 745,218 | 739,230 | ||||||||
Total assets | $ | 46,604,344 | 32,669,192 | 31,501,028 | |||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
Liabilities: | |||||||||||
Deposits: | |||||||||||
Non-interest-bearing deposits | $ | 9,144,315 | 7,650,967 | 7,381,070 | |||||||
Interest-bearing deposits | 28,930,875 | 19,069,355 | 18,872,437 | ||||||||
Total deposits | 38,075,190 | 26,720,322 | 26,253,507 | ||||||||
Federal funds purchased and securities sold under repurchase agreements | 314,383 | 237,692 | 185,531 | ||||||||
Other short-term borrowings | 853,000 | 650,000 | — | ||||||||
Long-term debt | 2,106,037 | 1,657,157 | 1,856,392 | ||||||||
Other liabilities | 683,662 | 270,419 | 249,103 | ||||||||
Total liabilities | 42,032,272 | 29,535,590 | 28,544,533 | ||||||||
Shareholders' equity: | |||||||||||
Series C Preferred Stock - no par value; 5,200,000 outstanding at March 31, 2018 | — | — | 125,980 | ||||||||
Series D Preferred Stock - no par value. Authorized 100,000,000 shares; 8,000,000 shares issued and outstanding at March 31, 2019 and December 31, 2018 | 195,140 | 195,140 | — | ||||||||
Common stock - $1.00 par value. Authorized 342,857,143 shares; 165,929,349 issued at March 31, 2019, 143,300,449 issued at December 31, 2018, and 143,017,301 issued at March 31, 2018; 157,454,007 outstanding at March 31, 2019, 115,865,510 outstanding at December 31, 2018, and 118,702,497 outstanding at March 31, 2018 | 165,929 | 143,300 | 143,017 | ||||||||
Additional paid-in capital | 3,782,847 | 3,060,561 | 3,039,757 | ||||||||
Treasury stock, at cost – 8,475,342 shares at March 31, 2019, 27,434,939 shares at December 31, 2018, and 24,314,804 shares at March 31, 2018 | (319,898 | ) | (1,014,746 | ) | (866,407 | ) | |||||
Accumulated other comprehensive loss, net | (18,342 | ) | (94,420 | ) | (107,777 | ) | |||||
Retained earnings | 766,396 | 843,767 | 621,925 | ||||||||
Total shareholders’ equity | 4,572,072 | 3,133,602 | 2,956,495 | ||||||||
Total liabilities and shareholders' equity | $ | 46,604,344 | 32,669,192 | 31,501,028 |
Synovus | ||||||||||||||
AVERAGE BALANCES AND YIELDS/RATES (1) | ||||||||||||||
(Unaudited) | ||||||||||||||
(Dollars in thousands) | ||||||||||||||
2019 | 2018 | |||||||||||||
First | Fourth | Third | Second | First | ||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||
Interest Earning Assets | ||||||||||||||
Taxable investment securities (2) | $ | 6,515,561 | 4,073,685 | 4,061,239 | 4,077,564 | 4,097,162 | ||||||||
Yield | 3.05 | % | 2.45 | 2.38 | 2.34 | 2.34 | ||||||||
Tax-exempt investment securities(2)(4) | $ | 20,638 | — | 89 | 115 | 140 | ||||||||
Yield (taxable equivalent) | 4.45 | % | — | 5.91 | 6.87 | 6.57 | ||||||||
Trading account assets(5) | $ | 2,049 | 7,493 | 16,646 | 23,772 | 8,167 | ||||||||
Yield | 1.30 | % | 1.90 | 2.52 | 2.79 | 2.66 | ||||||||
Commercial loans(3)(4) | $ | 26,140,672 | 19,150,252 | 19,025,830 | 18,857,271 | 18,963,515 | ||||||||
Yield | 5.16 | % | 5.13 | 4.98 | 4.85 | 4.64 | ||||||||
Consumer loans(3) | $ | 9,180,679 | 6,476,026 | 6,298,643 | 6,092,899 | 5,899,015 | ||||||||
Yield | 5.10 | % | 4.85 | 4.80 | 4.76 | 4.71 | ||||||||
Allowance for loan losses | $ | (252,815 | ) | (251,098 | ) | (251,684 | ) | (257,966 | ) | (251,635 | ) | |||
Loans, net(3) | $ | 35,068,536 | 25,375,180 | 25,072,789 | 24,692,204 | 24,610,895 | ||||||||
Yield | 5.17 | % | 5.11 | 4.99 | 4.88 | 4.70 | ||||||||
Mortgage loans held for sale | $ | 34,913 | 36,477 | 49,030 | 50,366 | 38,360 | ||||||||
Yield | 4.48 | % | 4.79 | 4.71 | 4.42 | 3.95 | ||||||||
Federal funds sold, due from Federal Reserve Bank, and other short-term investments | $ | 679,477 | 641,832 | 544,704 | 724,537 | 516,575 | ||||||||
Yield | 2.45 | % | 2.20 | 1.90 | 1.77 | 1.48 | ||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock(5) | $ | 211,408 | 162,369 | 163,568 | 165,845 | 177,381 | ||||||||
Yield | 4.82 | % | 4.31 | 4.41 | 4.63 | 3.39 | ||||||||
Total interest earning assets | $ | 42,532,582 | 30,297,036 | 29,908,065 | 29,734,403 | 29,448,680 | ||||||||
Yield | 4.80 | % | 4.69 | 4.58 | 4.47 | 4.31 | ||||||||
Interest-Bearing Liabilities | ||||||||||||||
Interest-bearing demand deposits | $ | 6,393,304 | 4,692,804 | 4,701,204 | 5,001,826 | 5,032,000 | ||||||||
Rate | 0.68 | % | 0.41 | 0.38 | 0.35 | 0.31 | ||||||||
Money Market accounts | $ | 10,244,556 | 8,050,732 | 7,936,621 | 7,791,107 | 7,561,554 | ||||||||
Rate | 1.18 | % | 0.89 | 0.72 | 0.55 | 0.43 | ||||||||
Savings deposits | $ | 901,059 | 815,588 | 824,935 | 829,800 | 811,587 | ||||||||
Rate | 0.06 | % | 0.04 | 0.03 | 0.03 | 0.03 | ||||||||
Time deposits under $100,000 | $ | 2,238,568 | 1,242,811 | 1,205,987 | 1,161,890 | 1,143,780 | ||||||||
Rate | 1.24 | % | 1.16 | 0.99 | 0.82 | 0.71 | ||||||||
Time deposits over $100,000 | $ | 6,211,067 | 2,478,649 | 2,273,582 | 2,021,084 | 1,895,545 | ||||||||
Rate | 1.60 | % | 1.67 | 1.46 | 1.22 | 1.02 | ||||||||
Non-maturing brokered deposits | $ | 937,629 | 349,480 | 358,277 | 262,976 | 424,118 | ||||||||
Rate | 2.60 | % | 2.46 | 2.10 | 1.94 | 1.14 | ||||||||
Brokered time deposits | $ | 1,845,819 | 1,275,276 | 1,414,700 | 1,659,941 | 1,527,793 | ||||||||
Rate | 2.13 | % | 2.03 | 1.94 | 1.85 | 1.75 | ||||||||
Total interest-bearing deposits | $ | 28,772,002 | 18,905,340 | 18,715,306 | 18,728,624 | 18,396,377 | ||||||||
Rate | 1.24 | % | 0.96 | 0.83 | 0.70 | 0.58 | ||||||||
Federal funds purchased and securities sold under repurchase agreements | $ | 233,076 | 194,370 | 230,504 | 207,655 | 202,226 | ||||||||
Rate | 0.22 | % | 0.18 | 0.25 | 0.35 | 0.21 | ||||||||
Other short-term borrowings | $ | 517,456 | 112,228 | 146,794 | 3,024 | 394,056 | ||||||||
Rate | 2.58 | % | 2.51 | 2.12 | 2.84 | 1.52 | ||||||||
Long-term debt | $ | 1,983,910 | 1,657,022 | 1,656,743 | 1,852,094 | 1,733,938 | ||||||||
Rate | 3.33 | % | 3.06 | 2.87 | 2.66 | 2.51 | ||||||||
Total interest-bearing liabilities | $ | 31,506,444 | 20,868,960 | 20,749,347 | 20,791,397 | 20,726,597 | ||||||||
Rate | 1.38 | % | 1.12 | 0.99 | 0.87 | 0.76 | ||||||||
Non-interest-bearing demand deposits | $ | 9,054,949 | 8,014,761 | 7,672,006 | 7,539,451 | 7,391,695 | ||||||||
Cost of funds | 1.07 | % | 0.81 | 0.73 | 0.64 | 0.56 | ||||||||
Net interest margin | 3.78 | % | 3.92 | 3.89 | 3.86 | 3.78 | ||||||||
Taxable equivalent adjustment | $ | 630 | 181 | 136 | 120 | 116 | ||||||||
(1) Yields and rates are annualized. | ||||||||||||||
(2) Excludes net unrealized gains and losses. | ||||||||||||||
(3) Average loans are shown net of unearned income. Non-performing loans are included. | ||||||||||||||
(4) Reflects taxable-equivalent adjustments, using the statutory federal income tax rate of 21%, in adjusting interest on tax-exempt loans and investment securities to a taxable-equivalent basis. | ||||||||||||||
(5) Included as a component of other assets on the consolidated balance sheet. |
Synovus | |||||||||||||||||||||||
LOANS OUTSTANDING BY TYPE | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Total Loans | Total Originated Loans | Total Acquired Loans (1) | Total Loans | Linked Quarter | Total Loans | Year/Year | |||||||||||||||||
Loan Type | March 31, 2019 | March 31, 2019 | March 31, 2019 | December 31, 2018 | % Change | March 31, 2018 | % Change | ||||||||||||||||
Commercial, Financial, and Agricultural | $ | 9,547,816 | 7,661,252 | 1,886,564 | 7,449,698 | 28.2 | % | $ | 7,191,531 | 32.8 | % | ||||||||||||
Owner-Occupied | 6,560,681 | 5,375,678 | 1,185,003 | 5,331,508 | 23.1 | 4,910,386 | 33.6 | ||||||||||||||||
Total Commercial & Industrial | 16,108,497 | 13,036,930 | 3,071,567 | 12,781,206 | 26.0 | 12,101,917 | 33.1 | ||||||||||||||||
Multi-Family | 2,077,666 | 1,242,076 | 835,590 | 1,208,033 | 72.0 | 1,479,573 | 40.4 | ||||||||||||||||
Hotels | 1,179,395 | 704,057 | 475,338 | 704,319 | 67.5 | 751,232 | 57.0 | ||||||||||||||||
Office Buildings | 2,211,901 | 1,498,491 | 713,410 | 1,451,048 | 52.4 | 1,464,473 | 51.0 | ||||||||||||||||
Shopping Centers | 1,654,531 | 870,231 | 784,300 | 808,540 | 104.6 | 782,580 | 111.4 | ||||||||||||||||
Warehouses | 771,007 | 585,699 | 185,308 | 627,353 | 22.9 | 583,645 | 32.1 | ||||||||||||||||
Other Investment Property | 1,022,280 | 820,391 | 201,889 | 761,658 | 34.2 | 557,547 | 83.4 | ||||||||||||||||
Total Investment Properties | 8,916,780 | 5,720,945 | 3,195,835 | 5,560,951 | 60.3 | 5,619,050 | 58.7 | ||||||||||||||||
1-4 Family Construction | 215,881 | 172,631 | 43,250 | 174,259 | 23.9 | 188,939 | 14.3 | ||||||||||||||||
1-4 Family Investment Mortgage | 549,120 | 485,168 | 63,952 | 505,611 | 8.6 | 569,965 | (3.7 | ) | |||||||||||||||
Total 1-4 Family Properties | 765,001 | 657,799 | 107,202 | 679,870 | 12.5 | 758,904 | 0.8 | ||||||||||||||||
Commercial Development | 149,944 | 70,576 | 79,368 | 60,675 | 147.1 | 65,371 | 129.4 | ||||||||||||||||
Residential Development | 211,501 | 116,942 | 94,559 | 93,166 | 127.0 | 104,137 | 103.1 | ||||||||||||||||
Land Acquisition | 219,146 | 155,669 | 63,477 | 169,829 | 29.0 | 288,265 | (24.0 | ) | |||||||||||||||
Land and Development | 580,591 | 343,187 | 237,404 | 323,670 | 79.4 | 457,773 | 26.8 | ||||||||||||||||
Total Commercial Real Estate | 10,262,372 | 6,721,931 | 3,540,441 | 6,564,491 | 56.3 | 6,835,727 | 50.1 | ||||||||||||||||
Consumer Mortgages | 5,390,821 | 3,044,207 | 2,346,614 | 2,934,235 | 83.7 | 2,663,371 | 102.4 | ||||||||||||||||
Home Equity Lines | 1,606,227 | 1,540,726 | 65,501 | 1,515,796 | 6.0 | 1,472,471 | 9.1 | ||||||||||||||||
Credit Cards | 252,762 | 252,762 | — | 258,245 | (2.1 | ) | 226,713 | 11.5 | |||||||||||||||
Other Consumer Loans | 2,037,477 | 2,023,693 | 13,784 | 1,916,743 | 6.3 | 1,606,799 | 26.8 | ||||||||||||||||
Total Consumer | 9,287,287 | 6,861,388 | 2,425,899 | 6,625,019 | 40.2 | 5,969,354 | 55.6 | ||||||||||||||||
Unearned Income | (23,655 | ) | (23,655 | ) | — | (24,143 | ) | (2.0 | ) | (23,961 | ) | (1.3 | ) | ||||||||||
Total | $ | 35,634,501 | 26,596,594 | 9,037,907 | 25,946,573 | 37.3 | % | $ | 24,883,037 | 43.2 | % | ||||||||||||
(1) Represents $9.29 billion (at fair value) of loans acquired from FCB, net of payments since acquisition date | |||||||||||||||||||||||
NON-PERFORMING LOANS COMPOSITION | |||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
(Dollars in thousands) | Total Non-performing Loans | Total Originated Non-performing Loans | Total Acquired Non-performing Loans(1) (2) | Total Non-performing Loans | Linked Quarter | Total Non-performing Loans | Year/Year | ||||||||||||||||
Loan Type | March 31, 2019 | March 31, 2019 | March 31, 2019 | December 31, 2018 | % Change | March 31, 2018 | % Change | ||||||||||||||||
Commercial, Financial, and Agricultural | $ | 85,917 | 79,305 | 6,612 | 69,295 | 24.0 | % | $ | 81,606 | 5.3 | % | ||||||||||||
Owner-Occupied | 13,813 | 11,239 | 2,574 | 8,971 | 54.0 | 4,067 | 239.6 | ||||||||||||||||
Total Commercial & Industrial | 99,730 | 90,544 | 9,186 | 78,266 | 27.4 | 85,673 | 16.4 | ||||||||||||||||
Multi-Family | 1,503 | — | 1,503 | 237 | 534.2 | 1,028 | 46.2 | ||||||||||||||||
Hotels | 7,346 | — | 7,346 | — | nm | — | nm | ||||||||||||||||
Office Buildings | 221 | 112 | 109 | 165 | 33.9 | 1,272 | (82.6 | ) | |||||||||||||||
Shopping Centers | 676 | 614 | 62 | 89 | 659.6 | 89 | 659.6 | ||||||||||||||||
Warehouses | — | — | — | — | - | — | - | ||||||||||||||||
Other Investment Property | — | — | — | 1,890 | nm | 541 | nm | ||||||||||||||||
Total Investment Properties | 9,746 | 726 | 9,020 | 2,381 | 309.3 | 2,930 | 232.6 | ||||||||||||||||
1-4 Family Construction | 445 | 445 | — | — | nm | — | nm | ||||||||||||||||
1-4 Family Investment Mortgage | 1,522 | 1,277 | 245 | 2,381 | (36.1 | ) | 2,634 | (42.2 | ) | ||||||||||||||
Total 1-4 Family Properties | 1,967 | 1,722 | 245 | 2,381 | (17.4 | ) | 2,634 | (25.3 | ) | ||||||||||||||
Commercial Development | 46 | 46 | — | 93 | (50.5 | ) | 44 | �� | 4.5 | ||||||||||||||
Residential Development | 1,569 | 1,569 | — | 1,444 | 8.7 | 3,219 | (51.3 | ) | |||||||||||||||
Land Acquisition | 1,035 | 1,035 | — | 1,416 | (26.9 | ) | 1,311 | (21.1 | ) | ||||||||||||||
Land and Development | 2,650 | 2,650 | — | 2,953 | (10.3 | ) | 4,574 | (42.1 | ) | ||||||||||||||
Total Commercial Real Estate | 14,363 | 5,098 | 9,265 | 7,715 | 86.2 | 10,138 | 41.7 | ||||||||||||||||
Consumer Mortgages | 11,556 | 6,856 | 4,700 | 4,949 | 133.5 | 7,708 | 49.9 | ||||||||||||||||
Home Equity Lines | 14,078 | 13,756 | 322 | 12,114 | 16.2 | 14,868 | (5.3 | ) | |||||||||||||||
Other Consumer Loans | 4,249 | 4,249 | — | 3,689 | 15.2 | 1,694 | 150.8 | ||||||||||||||||
Total Consumer | 29,883 | 24,861 | 5,022 | 20,752 | 44.0 | 24,270 | 23.1 | ||||||||||||||||
Total | $ | 143,976 | 120,503 | 23,473 | 106,733 | 34.9 | % | $ | 120,081 | 19.9 | % | ||||||||||||
(1) Represents loans acquired from FCB and designated as non-accrual, net of payments since acquisition date | |||||||||||||||||||||||
(2) For purposes of this table, March 31, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income. |
Synovus | ||||||||||||||||||||
CREDIT QUALITY DATA | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
(Dollars in thousands) | 2019 | 2018 | First Quarter | |||||||||||||||||
First | Fourth | Third | Second | First | '19 vs '18 | |||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | % Change | |||||||||||||||
Non-performing Loans (1) | 143,976 | 106,733 | 108,425 | 117,328 | 120,081 | 19.9 | % | |||||||||||||
Impaired Loans Held for Sale (2) | 12 | 1,506 | 12 | 2,733 | 6,591 | (99.8 | )% | |||||||||||||
Other Real Estate | 11,329 | 6,220 | 8,542 | 6,288 | 4,496 | 152.0 | ||||||||||||||
Non-performing Assets (1) | 155,317 | 114,459 | 116,979 | 126,349 | 131,168 | 18.4 | ||||||||||||||
Allowance for loan losses | 257,036 | 250,555 | 241,450 | 251,725 | 257,764 | (0.3 | ) | |||||||||||||
Net Charge-Offs - Quarter | 17,088 | 13,044 | 15,257 | 17,829 | 4,280 | |||||||||||||||
Net Charge-Offs / Average Loans - Quarter (3) | 0.19 | % | 0.20 | 0.24 | 0.29 | 0.07 | ||||||||||||||
Non-performing Loans / Loans (1) | 0.40 | 0.41 | 0.42 | 0.47 | 0.48 | |||||||||||||||
Non-performing Assets / Loans, Impaired Loans Held for Sale, & ORE (1) | 0.44 | 0.44 | 0.46 | 0.50 | 0.53 | |||||||||||||||
Allowance / Loans | 0.72 | 0.97 | 0.98 | 1.00 | 1.04 | |||||||||||||||
Allowance / Non-performing Loans (1) | 178.53 | 234.75 | 231.91 | 214.55 | 214.66 | |||||||||||||||
Allowance / Non-performing Loans excluding loans for which the expected loss has been charged off (1) | 230.29 | 297.68 | 288.21 | 262.99 | 241.49 | |||||||||||||||
Past Due Loans over 90 days and Still Accruing (1) | $ | 4,486 | 3,798 | 4,856 | 3,222 | 5,416 | (17.2 | ) | ||||||||||||
As a Percentage of Loans Outstanding | 0.01 | % | 0.01 | 0.02 | 0.01 | 0.02 | ||||||||||||||
Total Past Due Loans and Still Accruing (1) | $ | 88,135 | 56,927 | 78,323 | 55,614 | 54,150 | 62.8 | |||||||||||||
As a Percentage of Loans Outstanding | 0.25 | % | 0.22 | 0.31 | 0.22 | 0.22 | ||||||||||||||
Accruing Troubled Debt Restructurings (TDRs) | $ | 112,205 | 115,588 | 114,740 | 125,310 | 129,394 | (13.3 | ) | ||||||||||||
(1) For purposes of this table, March 31, 2019 non-performing loans and past due loans over 90 days exclude acquired loans accounted for under ASC 310-30 that are currently accruing income. | ||||||||||||||||||||
(2) Represent impaired loans that have been specifically identified to be sold. Impaired loans held for sale are carried at the lower of cost or fair value, less costs to sell, based primarily on estimated sales proceeds net of selling costs. | ||||||||||||||||||||
(3) Ratio is annualized. | ||||||||||||||||||||
SELECTED CAPITAL INFORMATION (1) | ||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
March 31, 2019 | December 31, 2018 | March 31, 2018 | ||||||||||||||||||
Tier 1 Capital | $ | 3,967,822 | 3,090,416 | 2,924,109 | ||||||||||||||||
Total Risk-Based Capital | 4,785,928 | 3,601,376 | 3,442,921 | |||||||||||||||||
Common Equity Tier 1 Ratio (transitional) | 9.44 | % | 9.95 | 10.13 | ||||||||||||||||
Common Equity Tier 1 Ratio (fully phased-in) (5) | 9.41 | 9.92 | 10.03 | |||||||||||||||||
Tier 1 Capital Ratio | 9.93 | 10.61 | 10.53 | |||||||||||||||||
Total Risk-Based Capital Ratio | 11.98 | 12.37 | 12.39 | |||||||||||||||||
Tier 1 Leverage Ratio | 8.77 | 9.60 | 9.37 | |||||||||||||||||
Common Equity as a Percentage of Total Assets (2) | 9.39 | 8.99 | 8.98 | |||||||||||||||||
Tangible Common Equity as a Percentage of Tangible Assets (3) (5) | 8.30 | 8.81 | 8.79 | |||||||||||||||||
Book Value Per Common Share (4) | $ | 27.80 | 25.36 | 23.85 | ||||||||||||||||
Tangible Book Value Per Common Share (3) | 24.27 | 24.78 | 23.27 | |||||||||||||||||
(1) Current quarter regulatory capital information is preliminary. | ||||||||||||||||||||
(2) Common equity consists of Total Shareholders' Equity less Preferred Stock. | ||||||||||||||||||||
(3) Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. | ||||||||||||||||||||
(4) Book Value Per Common Share consists of Total Shareholders' Equity less Preferred Stock divided by total common shares outstanding. | ||||||||||||||||||||
(5) See "Non-GAAP Financial Measures" of this report for applicable reconciliation. |