Exhibit 99.2
Synovus
INCOME STATEMENT DATA
(Unaudited)
(Dollars in thousands, except per share data)
(Unaudited)
(Dollars in thousands, except per share data)
2010 | 2009 | 1st Quarter | ||||||||||||||||||||||
First | Fourth | Third | Second | First | ‘10 vs. ’09 | |||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Change | |||||||||||||||||||
Interest income (taxable equivalent) | $ | 343,906 | 362,911 | 377,839 | 385,710 | 387,574 | (11.3) | % | ||||||||||||||||
Interest expense | 93,928 | 105,853 | 121,989 | 127,883 | 143,154 | (34.4 | ) | |||||||||||||||||
Net interest income (taxable equivalent) | 249,978 | 257,058 | 255,850 | 257,827 | 244,420 | 2.3 | ||||||||||||||||||
Tax equivalent adjustment | 1,111 | 1,227 | 1,219 | 1,219 | 1,181 | (5.9 | ) | |||||||||||||||||
Net interest income | 248,867 | 255,831 | 254,631 | 256,608 | 243,239 | 2.3 | ||||||||||||||||||
Provision for losses on loans | 340,948 | 387,114 | 496,522 | 631,526 | 290,437 | 17.4 | ||||||||||||||||||
Net interest expense after provision for loan losses | (92,081 | ) | (131,283 | ) | (241,891 | ) | (374,918 | ) | (47,198 | ) | (95.1 | ) | ||||||||||||
Non-interest income: | ||||||||||||||||||||||||
Service charges on deposit accounts | 26,280 | 29,651 | 29,699 | 29,702 | 28,699 | (8.4 | ) | |||||||||||||||||
Fiduciary and asset management fees | 11,338 | 11,455 | 11,244 | 10,657 | 10,815 | 4.8 | ||||||||||||||||||
Brokerage and investment banking income | 5,931 | 7,035 | 7,047 | 7,521 | 6,871 | (13.7 | ) | |||||||||||||||||
Mortgage banking income | 5,814 | 7,572 | 7,037 | 14,590 | 9,322 | (37.6 | ) | |||||||||||||||||
Bankcard fees | 9,515 | 9,521 | 9,114 | 9,144 | 8,361 | 13.8 | ||||||||||||||||||
Investment securities (losses) gains | (448 | ) | (663 | ) | 14,730 | — | — | nm | ||||||||||||||||
Other fee income | 5,530 | 7,055 | 7,733 | 8,722 | 7,690 | (28.1 | ) | |||||||||||||||||
Increase (decrease) in fair value of private equity investments, net | 899 | 142 | (6,853 | ) | 8,090 | — | nm | |||||||||||||||||
Gain from sale of MasterCard shares | — | — | — | 8,351 | — | nm | ||||||||||||||||||
Gain from sale of Visa shares | — | 51,900 | — | — | — | nm | ||||||||||||||||||
Other non-interest income | 4,839 | 13,179 | 6,484 | 6,425 | 12,627 | (61.7 | ) | |||||||||||||||||
Total non-interest income | 69,698 | 136,847 | 86,235 | 103,202 | 84,385 | (17.4 | ) | |||||||||||||||||
�� | ||||||||||||||||||||||||
Non-interest expense: | ||||||||||||||||||||||||
Salaries and other personnel expense | 104,022 | 100,575 | 105,001 | 108,508 | 111,085 | (6.4 | ) | |||||||||||||||||
Net occupancy and equipment expense | 29,978 | 29,861 | 31,217 | 30,544 | 31,484 | (4.8 | ) | |||||||||||||||||
FDIC insurance and other regulatory fees | 17,646 | 17,913 | 15,341 | 30,061 | 12,999 | 35.7 | ||||||||||||||||||
Foreclosed real estate expense | 45,507 | 34,098 | 101,437 | 172,404 | 46,330 | (1.8 | ) | |||||||||||||||||
Gains (losses) on other loans held for sale | 61 | — | 608 | 1,160 | (65 | ) | 193.8 | |||||||||||||||||
Visa litigation recovery | — | (2,374 | ) | (4,067 | ) | — | — | nm | ||||||||||||||||
Goodwill impairment | — | 14,849 | — | 241 | — | nm | ||||||||||||||||||
Professional fees | 9,380 | 10,397 | 11,121 | 10,340 | 6,945 | 35.1 | ||||||||||||||||||
Data processing expense | 10,683 | 11,615 | 11,194 | 11,166 | 11,155 | (4.2 | ) | |||||||||||||||||
Restructuring charges | — | (347 | ) | (413 | ) | 397 | 6,358 | nm | ||||||||||||||||
Other operating expenses | 35,520 | 32,906 | 45,381 | 29,114 | 34,748 | 2.2 | ||||||||||||||||||
Total non-interest expense | 252,797 | 249,493 | 316,820 | 393,935 | 261,039 | (3.2 | ) | |||||||||||||||||
Loss from continuing operations before income taxes | (275,180 | ) | (243,929 | ) | (472,476 | ) | (665,651 | ) | (223,852 | ) | (22.9 | ) | ||||||||||||
Income tax (benefit) expense | (16,337 | ) | 25,518 | (31,528 | ) | (80,059 | ) | (85,908 | ) | 81.0 | ||||||||||||||
Loss from continuing operations | (258,843 | ) | (269,447 | ) | (440,948 | ) | (585,592 | ) | (137,944 | ) | (87.6 | ) | ||||||||||||
Income from discontinued operations, net of taxes | 43,161 | 889 | 1,146 | 1,340 | 1,215 | nm | ||||||||||||||||||
Net loss | (215,682 | ) | (268,558 | ) | (439,802 | ) | (584,252 | ) | (136,729 | ) | (57.7 | ) | ||||||||||||
Net (loss) income attributable to non-controlling interest | (209 | ) | (1 | ) | (255 | ) | 2,677 | (57 | ) | (266.7 | ) | |||||||||||||
Net loss attributable to controlling interest | (215,473 | ) | (268,557 | ) | (439,547 | ) | (586,929 | ) | (136,672 | ) | (57.7 | ) | ||||||||||||
Dividends and accretion of discount on preferred stock | 14,325 | 14,291 | 14,258 | 14,225 | 14,192 | 0.9 | ||||||||||||||||||
Net loss available to common shareholders | $ | (229,798 | ) | (282,848 | ) | (453,805 | ) | (601,154 | ) | (150,864 | ) | (52.3 | ) | |||||||||||
Basic EPS | ||||||||||||||||||||||||
Net income (loss) from continuing operations available to common shareholders | $ | (0.56 | ) | (0.58 | ) | (1.32 | ) | (1.83 | ) | (0.46 | ) | (20.9) | % | |||||||||||
Net income (loss) available to common shareholders | (0.47 | ) | (0.58 | ) | (1.32 | ) | (1.82 | ) | (0.46 | ) | (2.6 | ) | ||||||||||||
Diluted EPS | ||||||||||||||||||||||||
Net income (loss) from continuing operations available to common shareholders | (0.56 | ) | (0.58 | ) | (1.32 | ) | (1.83 | ) | (0.46 | ) | (20.9 | ) | ||||||||||||
Net income (loss) available to common shareholders | (0.47 | ) | (0.58 | ) | (1.32 | ) | (1.82 | ) | (0.46 | ) | (2.6 | ) | ||||||||||||
Cash dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | — | ||||||||||||||||||
Return on average assets * | (3.22) | % | (3.18 | ) | (5.13 | ) | (6.77 | ) | (1.59 | ) | (163 | )bp | ||||||||||||
Return on average common equity * | (59.10 | ) | (53.25 | ) | (90.59 | ) | (92.07 | ) | (22.07 | ) | nm | |||||||||||||
Average common shares outstanding — basic | 489,607 | 486,104 | 344,626 | 329,850 | 329,785 | 48.5 | % | |||||||||||||||||
Average common shares outstanding — diluted | 489,607 | 486,104 | 344,626 | 329,850 | 329,785 | 48.5 |
nm | - not meaningful | |
* | - ratios are annualized |
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Synovus
BALANCE SHEET DATA
(Unaudited)
(In thousands, except share data)
(In thousands, except share data)
March 31, 2010 | December 31, 2009 | March 31, 2009 | ||||||||||
ASSETS | ||||||||||||
Cash and due from banks | $ | 579,620 | 564,482 | 437,788 | ||||||||
Interest bearing funds with Federal Reserve Bank | 2,826,702 | 1,901,847 | 362,038 | |||||||||
Interest earning deposits with banks | 12,817 | 12,534 | 95,757 | |||||||||
Federal funds sold and securities purchased under resale agreements | 166,392 | 203,959 | 155,549 | |||||||||
Trading account assets, at fair value | 13,605 | 14,370 | 15,013 | |||||||||
Mortgage loans held for sale, at fair value | 112,989 | 138,056 | 223,093 | |||||||||
Other loans held for sale | 78,077 | 36,816 | 22,751 | |||||||||
Investment securities available for sale, at fair value | 3,237,519 | 3,188,735 | 3,778,473 | |||||||||
Loans, net of unearned income | 24,417,164 | 25,383,068 | 27,730,272 | |||||||||
Allowance for loan losses | (968,697 | ) | (943,725 | ) | (642,422 | ) | ||||||
Loans, net | 23,448,467 | 24,439,343 | 27,087,850 | |||||||||
Premises and equipment, net | 572,815 | 580,375 | 603,555 | |||||||||
Goodwill | 24,431 | 24,431 | 39,521 | |||||||||
Other intangible assets, net | 15,556 | 16,649 | 20,064 | |||||||||
Other assets | 1,350,448 | 1,709,821 | 1,705,980 | |||||||||
Total assets | $ | 32,439,438 | 32,831,418 | 34,547,432 | ||||||||
LIABILITIES AND EQUITY | ||||||||||||
Liabilities: | ||||||||||||
Deposits: | ||||||||||||
Non-interest bearing deposits | $ | 4,352,327 | 4,172,697 | 3,785,089 | ||||||||
Interest bearing deposits | 22,827,721 | 23,260,836 | 24,162,897 | |||||||||
Total deposits | 27,180,048 | 27,433,533 | 27,947,986 | |||||||||
Federal funds purchased and other short-term borrowings | 450,979 | 475,062 | 577,269 | |||||||||
Long-term debt | 1,868,343 | 1,751,592 | 1,869,884 | |||||||||
Other liabilities | 301,615 | 299,730 | 480,895 | |||||||||
Total liabilities | 29,800,985 | 29,959,917 | 30,876,034 | |||||||||
Equity: | ||||||||||||
Shareholders’ equity: | ||||||||||||
Cumulative perpetual preferred stock, no par value (1) | 930,433 | 928,207 | 921,728 | |||||||||
Common stock, par value $1.00 (2) | 495,536 | 495,514 | 336,069 | |||||||||
Additional paid-in capital | 1,607,140 | 1,605,097 | 1,168,409 | |||||||||
Treasury stock, at cost (3) | (114,174 | ) | (114,155 | ) | (114,139 | ) | ||||||
Accumulated other comprehensive income | 80,722 | 84,806 | 125,013 | |||||||||
Accumulated (deficit) retained earnings | (382,914 | ) | (148,428 | ) | 1,200,899 | |||||||
Total shareholders’ equity | 2,616,743 | 2,851,041 | 3,637,979 | |||||||||
Non-controlling interest in subsidiaries | 21,710 | 20,460 | 33,419 | |||||||||
Total equity | 2,638,453 | 2,871,501 | 3,671,398 | |||||||||
Total liabilities and equity | $ | 32,439,438 | 32,831,418 | 34,547,432 | ||||||||
(1) | Preferred shares outstanding: 967,870 | |
(2) | Common shares outstanding: 489,843,709; 489,828,319; and 330,386,502 at March 31, 2010, December 31, 2009, and | |
March 31, 2009, respectively. | ||
(3) | Treasury shares: 5,692,422; 5,685,638; and 5,682,301 at March 31, 2010, December 31, 2009, and March 31, 2009, respectively. |
6 of 9
Synovus
AVERAGE BALANCES AND YIELDS/RATES *
(Unaudited)
(Dollars in thousands)
(Unaudited)
(Dollars in thousands)
2010 | 2009 | |||||||||||||||||||
First | Fourth | Third | Second | First | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||
Interest Earning Assets | ||||||||||||||||||||
Taxable investment securities | $ | 2,952,188 | 2,983,914 | 3,209,718 | 3,353,382 | 3,455,091 | ||||||||||||||
Yield | 4.70 | % | 4.79 | 5.06 | 5.16 | 5.22 | ||||||||||||||
Tax-exempt investment securities | $ | 72,041 | 88,848 | 98,435 | 107,626 | 116,163 | ||||||||||||||
Yield (taxable equivalent) | 7.16 | % | 7.03 | 7.06 | 7.08 | 6.91 | ||||||||||||||
Trading account assets | $ | 14,881 | 14,356 | 13,439 | 19,984 | 22,580 | ||||||||||||||
Yield | 5.30 | % | 5.60 | 8.22 | 5.57 | 6.02 | ||||||||||||||
Commercial loans | $ | 20,880,069 | 21,722,140 | 22,850,126 | 23,572,578 | 23,525,450 | ||||||||||||||
Yield | 4.85 | % | 4.82 | 4.73 | 4.72 | 4.77 | ||||||||||||||
Consumer loans | $ | 4,174,320 | 4,249,316 | 4,303,592 | 4,335,897 | 4,353,580 | ||||||||||||||
Yield | 5.36 | % | 5.32 | 5.37 | 5.38 | 5.50 | ||||||||||||||
Allowance for loan losses | $ | (951,552 | ) | (906,484 | ) | (905,700 | ) | (663,355 | ) | (627,110 | ) | |||||||||
Loans, net | $ | 24,102,837 | 25,064,972 | 26,248,018 | 27,245,120 | 27,251,920 | ||||||||||||||
Yield | 5.15 | % | 5.10 | 5.01 | 4.96 | 5.01 | ||||||||||||||
Mortgage loans held for sale | $ | 96,440 | 114,906 | 194,158 | 268,933 | 247,937 | ||||||||||||||
Yield | 5.49 | % | 5.29 | 5.39 | 4.94 | 5.46 | ||||||||||||||
Federal funds sold, due from Federal Reserve Bank and other short-term investments | $ | 2,435,880 | 2,995,367 | 1,653,546 | 996,754 | 1,214,897 | ||||||||||||||
Yield | 0.24 | % | 0.24 | 0.24 | 0.24 | 0.31 | ||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock (1) | $ | 142,524 | 140,550 | 139,230 | 132,346 | 117,205 | ||||||||||||||
Yield | 0.97 | % | 1.01 | 1.38 | 0.54 | 0.66 | ||||||||||||||
Total interest earning assets | $ | 29,816,791 | 31,402,913 | 31,556,544 | 32,124,145 | 32,425,793 | ||||||||||||||
Yield | 4.67 | % | 4.59 | 4.76 | 4.83 | 4.84 | ||||||||||||||
Interest Bearing Liabilities | ||||||||||||||||||||
Interest bearing demand deposits | $ | 3,636,437 | 3,851,237 | 3,310,924 | 3,582,954 | 3,602,371 | ||||||||||||||
Rate | 0.42 | % | 0.41 | 0.42 | 0.45 | 0.49 | ||||||||||||||
Money market accounts | $ | 6,450,696 | 6,420,003 | 6,309,578 | 6,241,764 | 6,272,015 | ||||||||||||||
Rate | 1.19 | % | 1.21 | 1.23 | 1.24 | 1.30 | ||||||||||||||
Savings deposits | $ | 476,007 | 469,526 | 477,909 | 477,752 | 452,206 | ||||||||||||||
Rate | 0.15 | % | 0.15 | 0.15 | 0.15 | 0.16 | ||||||||||||||
Time deposits under $100,000 | $ | 2,726,002 | 2,851,913 | 3,030,346 | 3,126,984 | 3,222,601 | ||||||||||||||
Rate | 2.17 | % | 2.44 | 2.86 | 3.13 | 3.41 | ||||||||||||||
Time deposits over $100,000 | $ | 4,770,429 | 4,909,253 | 5,281,529 | 5,355,736 | 5,555,084 | ||||||||||||||
Rate | 2.05 | % | 2.32 | 2.73 | 3.04 | 3.31 | ||||||||||||||
National market brokered money market accounts | $ | 1,047,417 | 1,218,363 | 1,365,477 | 1,885,214 | 2,073,734 | ||||||||||||||
Rate | 0.74 | % | 0.75 | 0.77 | 0.75 | 0.82 | ||||||||||||||
National market brokered time deposits | $ | 3,871,581 | 4,011,648 | 3,941,977 | 3,203,546 | 3,718,570 | ||||||||||||||
Rate | 2.13 | % | 2.41 | 2.66 | 3.09 | 3.38 | ||||||||||||||
Total interest bearing deposits | $ | 22,978,569 | 23,731,943 | 23,717,740 | 23,873,950 | 24,896,581 | ||||||||||||||
Rate | 1.48 | % | 1.62 | 1.85 | 1.96 | 2.16 | ||||||||||||||
Federal funds purchased and other short-term liabilities | $ | 472,691 | 729,988 | 1,194,759 | 1,166,785 | 578,717 | ||||||||||||||
Rate | 0.47 | % | 0.45 | 0.37 | 0.36 | 0.59 | ||||||||||||||
Long-term debt | $ | 1,805,363 | 1,897,915 | 1,906,320 | 2,090,710 | 1,964,064 | ||||||||||||||
Rate | 2.17 | % | 1.75 | 2.14 | 1.94 | 2.07 | ||||||||||||||
Total interest bearing liabilities | $ | 25,256,623 | 26,359,846 | 26,818,819 | 27,131,445 | 27,439,362 | ||||||||||||||
Rate | 1.51 | % | 1.59 | 1.80 | 1.89 | 2.11 | ||||||||||||||
Non-interest bearing demand deposits | $ | 4,243,622 | 4,162,027 | 4,069,108 | 3,812,876 | 3,611,958 | ||||||||||||||
Net interest margin | 3.39 | % | 3.25 | 3.22 | 3.23 | 3.05 | ||||||||||||||
* | Yields and rates are annualized. | |
(1) | Included as a component of Other Assets on the balance sheet |
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Synovus
LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
(Unaudited)
(Dollars in thousands)
(Unaudited)
(Dollars in thousands)
March 31, 2010 | ||||||||||||||||
Loans as a % | Total | Nonperforming Loans | ||||||||||||||
of Total Loans | Nonperforming | as a % of Total | ||||||||||||||
Loan Type | Total Loans | Outstanding | Loans | Nonperforming Loans | ||||||||||||
Multi-Family | $ | 917,478 | 3.8 | % | $ | 12,048 | 0.8 | % | ||||||||
Hotels | 1,064,300 | 4.4 | 228,402 | 14.8 | ||||||||||||
Office Buildings | 1,018,060 | 4.2 | 17,996 | 1.2 | ||||||||||||
Shopping Centers | 1,126,052 | 4.6 | 28,183 | 1.8 | ||||||||||||
Commercial Development | 510,340 | 2.1 | 71,509 | 4.6 | ||||||||||||
Warehouses | 521,933 | 2.1 | 5,776 | 0.4 | ||||||||||||
Other Investment Property | 562,088 | 2.2 | 26,118 | 1.7 | ||||||||||||
Total Investment Properties | 5,720,251 | 23.4 | 390,032 | 25.3 | ||||||||||||
1-4 Family Construction | 576,542 | 2.4 | 151,767 | 9.8 | ||||||||||||
1-4 Family Perm / Mini-Perm | 1,266,446 | 5.2 | 79,546 | 5.2 | ||||||||||||
Residential Development | 1,221,026 | 5.0 | 344,886 | 22.4 | ||||||||||||
Total 1-4 Family Properties | 3,064,014 | 12.6 | 576,199 | 37.4 | ||||||||||||
Land Acquisition | 1,397,870 | 5.7 | 251,267 | 16.3 | ||||||||||||
Total Commercial Real Estate | 10,182,135 | 41.7 | 1,217,498 | 79.0 | ||||||||||||
Commercial , Financial, and Agricultural | 5,779,238 | 23.7 | 171,864 | 11.1 | ||||||||||||
Owner-Occupied | 4,350,811 | 17.8 | 85,495 | 5.5 | ||||||||||||
Total Commercial & Industrial | 10,130,049 | 41.5 | 257,359 | 16.6 | ||||||||||||
Home Equity | 1,695,679 | 6.9 | 16,943 | 1.1 | ||||||||||||
Consumer Mortgages | 1,587,537 | 6.5 | 44,383 | 2.9 | ||||||||||||
Credit Card | 284,781 | 1.2 | — | — | ||||||||||||
Other Retail Loans | 553,936 | 2.3 | 6,521 | 0.4 | ||||||||||||
Total Retail | 4,121,933 | 16.9 | 67,847 | 4.4 | ||||||||||||
Unearned Income | (16,953 | ) | (0.1 | ) | — | — | ||||||||||
Total | $ | 24,417,164 | 100.0 | % | $ | 1,542,704 | 100.0 | % | ||||||||
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands)
(Unaudited)
(Dollars in thousands)
Total Loans | 1Q10 vs. 4Q09 | 1Q10 vs. 1Q09 | ||||||||||||||||||
Loan Type | March 31, 2010 | December 31, 2009 | % change (1) | March 31, 2009 | % change | |||||||||||||||
Multi-Family | $ | 917,478 | 946,598 | (12.5 | )% | $ | 691,327 | 32.7 | % | |||||||||||
Hotels | 1,064,300 | 1,060,837 | 1.3 | 1,072,469 | (0.8 | ) | ||||||||||||||
Office Buildings | 1,018,060 | 1,034,934 | (6.6 | ) | 1,122,953 | (9.3 | ) | |||||||||||||
Shopping Centers | 1,126,052 | 1,149,245 | (8.2 | ) | 1,159,863 | (2.9 | ) | |||||||||||||
Commercial Development | 510,340 | 546,055 | (26.5 | ) | 730,823 | (30.2 | ) | |||||||||||||
Warehouses | 521,933 | 556,826 | (25.4 | ) | 534,252 | (2.3 | ) | |||||||||||||
Other Investment Property | 562,088 | 592,937 | (21.1 | ) | 729,932 | (23.0 | ) | |||||||||||||
Total Investment Properties | 5,720,251 | 5,887,432 | (11.5 | ) | 6,041,619 | (5.3 | ) | |||||||||||||
1-4 Family Construction | 576,542 | 714,411 | (78.3 | ) | 1,466,636 | (60.7 | ) | |||||||||||||
1-4 Family Perm / Mini-Perm | 1,266,446 | 1,281,411 | (4.7 | ) | 1,376,198 | (8.0 | ) | |||||||||||||
Residential Development | 1,221,026 | 1,334,859 | (34.6 | ) | 1,931,607 | (36.8 | ) | |||||||||||||
Total 1-4 Family Properties | 3,064,014 | 3,330,681 | (32.5 | ) | 4,774,441 | (35.8 | ) | |||||||||||||
Land Acquisition | 1,397,870 | 1,510,981 | (30.4 | ) | 1,742,024 | (19.8 | ) | |||||||||||||
Total Commercial Real Estate | 10,182,135 | 10,729,094 | (20.7 | ) | 12,558,084 | (18.9 | ) | |||||||||||||
Commercial , Financial, and Agricultural | 5,779,238 | 6,015,445 | (15.9 | ) | 6,461,156 | nm | ||||||||||||||
Owner-Occupied | 4,350,811 | 4,445,648 | (8.7 | ) | 4,416,435 | (1.5 | ) | |||||||||||||
Total Commercial & Industrial | 10,130,049 | 10,461,093 | (12.8 | ) | 10,877,591 | (6.9 | ) | |||||||||||||
Home Equity | 1,695,679 | 1,714,994 | (4.6 | ) | 1,718,918 | (1.4 | ) | |||||||||||||
Consumer Mortgages | 1,587,537 | 1,637,978 | (12.5 | ) | 1,734,438 | (8.5 | ) | |||||||||||||
Credit Card | 284,781 | 294,126 | (12.9 | ) | 285,099 | (0.1 | ) | |||||||||||||
Other Retail Loans | 553,936 | 565,131 | (8.0 | ) | 588,164 | (5.8 | ) | |||||||||||||
Total Retail | 4,121,933 | 4,212,229 | (8.7 | ) | 4,326,619 | (4.7 | ) | |||||||||||||
Unearned Income | (16,953 | ) | (19,348 | ) | (50.2 | ) | (32,022 | ) | (47.1 | ) | ||||||||||
Total | $ | 24,417,164 | 25,383,068 | (15.4 | )% | $ | 27,730,272 | (11.9 | )% | |||||||||||
(1) | Percentage change is annualized. |
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Synovus
CREDIT QUALITY DATA
(Unaudited)
(Dollars in thousands)
(Unaudited)
(Dollars in thousands)
2010 | 2009 | 1st Quarter | ||||||||||||||||||||||
First | Fourth | Third | Second | First | ’10 vs. ’09 | |||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Change | |||||||||||||||||||
Nonperforming Loans | $ | 1,542,704 | 1,555,776 | 1,519,049 | 1,472,242 | 1,415,269 | 9.0 | % | ||||||||||||||||
Impaired Loans Held for Sale (1) | 78,077 | 36,816 | 40,932 | 34,938 | 22,751 | 243.2 | ||||||||||||||||||
Other Real Estate | 222,155 | 238,807 | 187,494 | 210,968 | 287,246 | (22.7 | ) | |||||||||||||||||
Nonperforming Assets | 1,842,937 | 1,831,399 | 1,747,475 | 1,718,148 | 1,725,266 | 6.8 | ||||||||||||||||||
Allowance for Loan Losses | 968,697 | 943,725 | 918,468 | 918,723 | 642,422 | 50.8 | ||||||||||||||||||
Net Charge-Offs — Quarter | 315,976 | 361,857 | 496,777 | 355,224 | 246,314 | 28.3 | ||||||||||||||||||
Net Charge-Offs — YTD | 315,976 | 1,460,172 | 1,098,315 | 601,538 | 246,314 | 28.3 | ||||||||||||||||||
Net Charge-Offs / Average Loans — Quarter (2) | 5.05 | % | 5.58 | 7.33 | 5.09 | 3.53 | ||||||||||||||||||
Net Charge-Offs / Average Loans — YTD (2) | 5.05 | 5.37 | 5.30 | 4.31 | 3.53 | |||||||||||||||||||
Nonperforming Loans / Loans | 6.32 | 6.13 | 5.77 | 5.34 | 5.10 | |||||||||||||||||||
Nonperforming Assets / Loans, Other Loans Held for Sale & ORE | 7.46 | 7.14 | 6.58 | 6.17 | 6.15 | |||||||||||||||||||
Allowance / Loans | 3.97 | 3.72 | 3.49 | 3.33 | 2.32 | |||||||||||||||||||
Allowance / Nonperforming Loans | 62.79 | 60.66 | 60.46 | 62.40 | 45.39 | |||||||||||||||||||
Past Due Loans over 90 days and Still Accruing | $ | 35,491 | 19,938 | 43,816 | 31,018 | 31,316 | 13.3 | % | ||||||||||||||||
As a Percentage of Loans Outstanding | 0.15 | % | 0.08 | 0.17 | 0.11 | 0.11 | ||||||||||||||||||
Total Past Dues Loans and Still Accruing | $ | 294,753 | 262,446 | 356,456 | 331,731 | 587,014 | (49.8 | ) | ||||||||||||||||
As a Percentage of Loans Outstanding | 1.21 | % | 1.03 | 1.35 | 1.20 | 2.12 | ||||||||||||||||||
Restructured loans (accruing) | $ | 261,160 | 213,552 | 192,559 | 18,025 | 25,919 | nm |
(1) | Represent impaired loans that are intended to be sold. Held for sale loans are carried at the lower of cost or fair value. | |
(2) | Ratio is annualized. |
SELECTED CAPITAL INFORMATION (1)
(Unaudited)
(Dollars in thousands)
(Unaudited)
(Dollars in thousands)
March 31, 2010 | December 31, 2009 | March 31, 2009 | ||||||||||
Tier 1 Capital | $ | 2,494,790 | 2,721,287 | 3,454,987 | ||||||||
Total Risk-Based Capital | 3,357,445 | 3,637,712 | 4,440,572 | |||||||||
Tier 1 Capital Ratio | 9.69 | % | 10.16 | 11.06 | ||||||||
Total Risk-Based Capital Ratio | 13.04 | 13.58 | 14.22 | |||||||||
Leverage Ratio | 7.68 | 8.12 | 9.88 | |||||||||
Common Equity as a Percentage of Total Assets (2) | 5.20 | 5.86 | 7.86 | |||||||||
Tangible Common Equity as a Percentage of Tangible Assets (3) | 5.08 | 5.74 | 7.70 | |||||||||
Tangible Common Equity as a Percentage of Risk Weighted Assets (3) | 6.39 | 7.03 | 8.51 | |||||||||
Book Value Per Common Share (4) | 3.44 | 3.93 | 8.22 | |||||||||
Tangible Book Value Per Common Share (3) | 3.36 | 3.84 | 8.04 |
(1) | Current quarter regulatory capital information is preliminary. | |
(2) | Common equity consists of Total Shareholders’ Equity less Cumulative Perpetual Perferred 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 Cumulative Perpetual Preferred Stock divided by total common shares outstanding. |
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