Synovus Financial (SNV) 8-K Synovus Reports Earnings per Share of $0.24 for First Quarter 2008

Exhibit 99.2

3 of 7

Synovus

INCOME STATEMENT DATA
(Unaudited)
(In thousands, except per share data)

	2008			2007								1st Quarter
	First			Fourth		Third		Second		First		’08 vs. ’07
	Quarter			Quarter		Quarter		Quarter		Quarter		Change
Interest income (taxable equivalent)	$	505,057			554,989		573,545		565,777		549,243		(8.0	)%
Interest expense		225,232			267,102		281,478		276,017		264,950		(15.0	)
Net interest income (taxable equivalent)		279,825			287,887		292,067		289,760		284,293		(1.6	)
Tax equivalent adjustment		1,176			1,202		1,228		1,285		1,344		(12.5	)
Net interest income		278,649			286,685		290,839		288,475		282,949		(1.5	)
Provision for loan losses		91,049			70,642		58,770		20,281		20,515		343.8
Net interest income after provision		187,600			216,043		232,069		268,194		262,434		(28.5	)
Non-interest income:
Service charges on deposit accounts		28,391			28,985		28,736		28,050		26,370		7.7
Fiduciary and asset management fees		12,621			13,110		12,524		12,658		12,473		1.2
Brokerage and investment banking revenue		8,487			8,598		8,123		7,809		7,449		13.9
Mortgage banking income		8,161			6,130		5,955		7,695		7,226		12.9
Bankcard fees		12,219			12,400		11,923		11,567		11,880		2.9
Net gains on sales of available for sale investment securities		—			90		186		258		447	nm
Other fee income		11,185			9,559		9,910		10,411		9,427		18.6
Other non-interest income		20,370			20,126		28,837		17,883		12,231		66.5
Proceeds from Visa IPO		38,542			—		—		—		—	nm
Total non-interest income		139,976			98,998		106,194		96,331		87,503		60.0
Non-interest expense:
Salaries and other personnel expense		122,130			109,468		115,941		115,822		113,927		7.2
Net occupancy and equipment expense		30,211			29,976		28,055		27,572		27,290		10.7
Other operating expense		66,463			70,965		56,429		54,267		53,580		24.0
Visa litigation expense		(17,430	)		24,800		12,000		—		—	nm
Total non-interest expense		201,374			235,209		212,425		197,661		194,797		3.4
Minority interest in consolidated subsidiaries		1,559			—		—		—		—	nm
Income from continuing operations before income taxes		124,643			79,832		125,838		166,864		155,140		(19.7	)
Income tax expense		43,648			26,690		42,261		61,055		54,733		(20.3	)
Income from continuing operations		80,995			53,142		83,577		105,809		100,407		(19.3	)
Income from discontinued operations, net of income taxes and minority interest (1)		—			28,717		51,366		56,941		46,346	nm
Net income	$	80,995			81,859		134,943		162,750		146,753		(44.8	)
Basic earnings per share
Income from continuing operations	$	0.25			0.16		0.26		0.32		0.31		(20.1	)%
Net income		0.25			0.25		0.41		0.50		0.45		(45.5	)
Diluted earnings per share
Income from continuing operations		0.24			0.16		0.25		0.32		0.30		(19.9	)
Net income		0.24			0.25		0.41		0.49		0.45		(45.2	)
Cash dividends declared per share		0.17			0.21		0.21		0.21		0.21		(17.1	)
Return on average assets from continuing operations*		0.99	%		0.65		1.05		1.35		1.33	(34		)bp
Return on average assets *		0.99			1.01		1.66		1.97		1.82		(83	)
Return on average equity from continuing operations*		9.43			5.17		8.25		10.85		10.91		(148	)
Return on average equity *		9.43			7.97		13.32		16.69		15.94		(651	)
Average shares outstanding — basic		328,970			328,052		327,215		326,410		325,687		1.0	%
Average shares outstanding — diluted		331,719			329,453		330,160		330,263		329,573		0.7

bp	—  change is measured as difference in basis points.
nm	—  not meaningful
*	—  ratios are annualized
(1)	On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with the provisions of Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” and SFAS No. 146, “Accounting for Costs Associated with Exit or Disposal Activities,” the historical consolidated results of operations of TSYS, as well as all costs recorded by Synovus Financial Corp. associated with the spin-off of TSYS, are now presented as a discontinued operation. Additionally, discontinued operations for the three months ended June 30, 2007 includes a $4.2 million after-tax gain related to the transfer of Synovus’ proprietary mutual funds to a non-affiliated third party.

4 of 7

Synovus

BALANCE SHEET DATA
(Unaudited)
(In thousands, except share data)

	March 31, 2008			December 31, 2007			March 31, 2007
ASSETS
Cash and due from banks	$	589,640			682,583			632,061
Interest earning deposits with banks		2,440			10,950			35,511
Federal funds sold and securities purchased under resale agreements		101,855			76,086			190,514
Trading account assets		34,730			17,803			45,289
Mortgage loans held for sale		141,598			153,437			181,266
Impaired loans held for sale		42,270			—			—
Investment securities available for sale		3,779,877			3,666,974			3,520,777
Loans, net of unearned income		27,117,510			26,498,585			25,223,681
Allowance for loan losses		(394,848	)		(367,613	)		(326,826	)
Loans, net		26,722,662			26,130,972			24,896,855
Premises and equipment, net		565,887			547,437			493,704
Goodwill		519,138			519,138			519,138
Other intangible assets, net		26,156			28,007			32,635
Other assets		1,249,347			1,185,065			878,194
Assets of discontinued operations		—			—			1,399,218
Total assets	$	33,775,600			33,018,452			32,825,162
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing retail and commercial deposits	$	3,508,246			3,472,423			3,580,484
Interest bearing retail and commercial deposits		17,713,901			17,734,851			18,066,417
Total retail and commercial deposits		21,222,147			21,207,274			21,646,901
Brokered deposits		4,441,040			3,752,542			3,450,148
Total deposits		25,663,187			24,959,816			25,097,049
Federal funds purchased and other short-term liabilities		2,108,109			2,319,412			1,573,283
Long-term debt		1,992,750			1,890,235			1,538,972
Other liabilities		458,775			407,399			432,703
Liabilities of and minority interest in discontinued operations (1)		—			—			347,072
Total liabilities		30,222,821			29,576,862			28,989,079
Minority interest in consolidated subsidiaries		22,772			—			—
Shareholders’ equity:
Common stock, par value $1.00 a share (2)		335,750			335,529			332,512
Additional paid-in capital		1,106,049			1,101,209			1,070,554
Treasury stock (3)		(113,944	)		(113,944	)		(113,944	)
Accumulated other comprehensive income		92,076			31,439			6,989
Retained earnings		2,110,076			2,087,357			2,539,972
Total shareholders’ equity (4)		3,530,007			3,441,590			3,836,083
Total liabilities and shareholders’ equity	$	33,775,600			33,018,452			32,825,162

(1)	On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” all prior period assets and liabilities of TSYS are presented as a discontinued operation.
(2)	Common shares outstanding: 330,088,033; 329,867,944 and 326,850,123 at March 31, 2008, December 31, 2007, and March 31, 2007, respectively.
(3)	Treasury shares: 5,661,538 at March 31, 2008, December 31, 2007, and March 31, 2007.
(4)	Book value per share: $10.69 ; $10.43; and $11.74 at March 31, 2008, December 31, 2007, and March 31, 2007, respectively.

5 of 7

Synovus

AVERAGE BALANCES AND YIELDS/RATES *
(Unaudited)
(Dollars in thousands)

	2008			2007
	First			Fourth			Third			Second			First
	Quarter			Quarter			Quarter			Quarter			Quarter
Interest Earning Assets
Taxable Investment Securities	$	3,485,370			3,496,843			3,495,017			3,420,831			3,301,137
Yield		5.01	%		4.90			4.82			4.83			4.77
Tax-Exempt Investment Securities	$	154,408			164,587			170,211			178,183			185,012
Yield (taxable equivalent)		7.00	%		6.82			6.72			6.75			6.84
Trading Account Assets	$	36,652			29,698			56,217			59,311			64,204
Yield		6.96	%		7.05			7.15			6.47			5.65
Commercial Loans	$	22,763,954			22,157,460			21,820,687			21,739,107			21,242,921
Yield		6.79	%		7.69			8.13			8.20			8.24
Consumer Loans	$	931,644			928,942			915,847			896,267			928,256
Yield		7.86	%		8.05			8.17			8.14			8.01
Mortgage Loans	$	1,241,018			1,237,962			1,152,621			1,110,754			1,081,760
Yield		6.84	%		7.04			7.10			7.03			6.98
Credit Card Loans	$	296,428			285,410			277,445			275,105			270,444
Yield		9.65	%		10.26			10.96			10.64			11.17
Home Equity Loans	$	1,557,852			1,517,510			1,444,411			1,407,005			1,385,012
Yield		6.48	%		7.34			7.80			7.82			7.68
Allowance for Loan Losses	$	(381,695	)		(357,283	)		(335,406	)		(329,028	)		(317,977	)
Loans, Net	$	26,409,201			25,770,001			25,275,605			25,099,210			24,590,416
Yield		6.94	%		7.79			8.21			8.26			8.28
Mortgage Loans Held for Sale	$	121,806			108,044			176,448			163,364			160,482
Yield		5.57	%		6.12			6.91			6.18			6.07
Federal Funds Sold and Other Short-Term Investments	$	128,381			110,745			85,094			131,029			147,857
Yield		3.41	%		4.63			5.76			5.37			5.55
Total Interest Earning Assets	$	30,335,818			29,679,918			29,258,592			29,051,928			28,449,108
Yield		6.69	%		7.42			7.78			7.81			7.82
Interest Bearing Liabilities
Interest Bearing Demand Deposits	$	3,200,650			3,200,408			3,047,279			3,141,899			3,113,531
Rate		1.56	%		1.99			2.24			2.28			2.30
Money Market Accounts	$	7,115,062			7,502,063			7,421,900			7,217,265			6,977,950
Rate		2.99	%		3.92			4.40			4.46			4.47
Savings Deposits	$	448,581			454,204			479,479			497,422			502,948
Rate		0.28	%		0.35			0.48			0.57			0.68
Time Deposits Under $100,000	$	2,777,764			2,790,869			2,917,089			3,020,881			3,037,815
Rate		4.44	%		4.69			4.81			4.85			4.79
Time Deposits Over $100,000 (less brokered time deposits)	$	4,171,716			4,006,350			4,029,091			4,118,221			4,101,471
Rate		4.69	%		4.98			5.12			5.19			5.15
Total Interest Bearing Core Deposits	$	17,713,773			17,953,894			17,894,838			17,995,688			17,733,715
Rate		3.29	%		3.84			4.16			4.20			4.22
Brokered Money Market Accounts	$	756,967			467,346			476,377			426,988			358,574
Rate		3.44	%		4.89			5.34			5.45			5.47
Brokered Time Deposits	$	3,300,677			2,941,592			3,188,310			3,175,161			3,030,793
Rate		4.35	%		4.98			5.19			5.05			5.08
Total Interest Bearing Deposits	$	21,771,417			21,362,832			21,559,525			21,597,837			21,123,082
Rate		3.46	%		4.02			4.33			4.35			4.34
Federal Funds Purchased and Other Short-Term Liabilities	$	2,253,640			2,472,339			1,930,598			1,720,535			1,700,304
Rate		3.18	%		4.37			4.84			4.96			4.86
Long-Term Debt	$	1,930,412			1,819,198			1,660,788			1,552,310			1,441,241
Rate		4.21	%		5.08			5.32			5.18			5.07
Total Interest Bearing Liabilities	$	25,955,469			25,654,369			25,150,911			24,870,682			24,264,627
Rate		3.48	%		4.12			4.43			4.44			4.42
Non-Interest Bearing Demand Deposits	$	3,338,106			3,422,684			3,405,622			3,428,246			3,381,056
Net Interest Margin		3.71	%		3.86			3.97			4.00			4.05

*

Yields and rates are annualized.

(1)

On December 31, 2007, Synovus Financial Corp. completed the spin-off of its shares of Total System Services, Inc. (“TSYS”) common stock to Synovus shareholders. In accordance with the provisions of Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” the historical consolidated results of operations, assets, and liabilities of TSYS are now presented as a discontinued operation. Accordingly, the above earning assets, liabilities, yields, and cost of funds exclude the amounts related to TSYS due to the de-consolidation of TSYS.

6 of 7

Synovus

      LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
      (Unaudited)
      (Dollars in thousands)

	March 31, 2008
				Loans as a %			Total		Nonperforming Loans
				of Total Loans			Nonperforming		as a % of Total
Loan Type	Total Loans			Outstanding			Loans		Nonperforming Loans
Multi-Family	$	505,828			1.9	%	$	1,751		0.3	%
Hotels		707,916			2.6			437		0.1
Office Buildings		983,935			3.6			2,590		0.5
Shopping Centers		890,651			3.3			734		0.1
Commercial Development		891,681			3.3			12,060		2.4
Other Investment Property		835,686			3.1			3,493		0.7
Total Investment Properties		4,815,697			17.8			21,065		4.1
1-4 Family Construction		2,153,555			7.9			193,715		37.6
1-4 Family Perm / Mini-Perm		1,310,397			4.8			36,306		7.1
Residential Development		2,314,776			8.5			116,161		22.5
Total 1-4 Family Properties		5,778,728			21.2			346,182		67.2
Land Acquisition		1,545,146			5.7			46,996		9.1
Total Commercial Real Estate		12,139,571			44.8			414,243		80.4
Commercial , Financial, and Agricultural		6,657,591			24.6			61,701		12.0
Owner-Occupied		4,315,945			15.9			21,317		4.1
Total Commercial & Industrial		10,973,536			40.5			83,018		16.1
Home Equity		1,584,299			5.8			5,689		1.1
Consumer Mortgages		1,663,132			6.1			10,734		2.1
Credit Card		297,099			1.1			—		—
Other Retail Loans		503,943			1.9			1,618		0.3
Total Retail		4,048,473			14.9			18,041		3.5
Unearned Income		(44,070	)		(0.2	)		—		—
Total	$	27,117,510			100.0	%	$	515,302		100.0	%

LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands)

	Total Loans						1Q08 vs. 4Q07						1Q07 vs. 1Q08
Loan Type	March 31, 2008			December 31, 2007			% change (1)			March 31, 2007			% change
Multi-Family	$	505,828			452,163			47.7	%	$	519,219			(2.6	)%
Hotels		707,916			614,979			60.8			661,985			6.9
Office Buildings		983,935			953,093			13.0			852,973			15.4
Shopping Centers		890,651			834,025			27.3			742,344			20.0
Commercial Development		891,681			961,271			(29.1	)		866,921			2.9
Other Investment Property		835,686			714,296			68.4			563,993			48.2
Total Investment Properties		4,815,697			4,529,827			25.4			4,207,435			14.5
1-4 Family Construction		2,153,555			2,238,925			(15.3	)		2,404,235			(10.4	)
1-4 Family Perm / Mini-Perm		1,310,397			1,273,843			11.5			1,145,235			14.4
Residential Development		2,314,776			2,311,459			0.6			2,178,573			6.3
Total 1-4 Family Properties		5,778,728			5,824,227			(3.1	)		5,728,043			0.9
Land Acquisition		1,545,146			1,545,933			(0.2	)		1,516,526			1.9
Total Commercial Real Estate		12,139,571			11,899,987			8.1			11,452,004			6.0
Commercial , Financial, and Agricultural		6,657,591			6,420,689			14.8			6,052,487			10.0
Owner-Occupied		4,315,945			4,226,707			8.5			4,090,859			5.5
Total Commercial & Industrial		10,973,536			10,647,396			12.3			10,143,346			8.2
Home Equity		1,584,299			1,543,701			10.6			1,401,898			13.0
Consumer Mortgages		1,663,132			1,667,924			(1.2	)		1,518,168			9.5
Credit Card		297,099			291,149			8.2			273,462			8.6
Other Retail Loans		503,943			494,591			7.6			483,412			4.2
Total Retail		4,048,473			3,997,365			5.1			3,676,940			10.1
Unearned Income		(44,070	)		(46,163	)		(18.2	)		(48,609	)		(9.3	)
Total	$	27,117,510			26,498,585			9.4	%	$	25,223,681			7.5	%

(1) Percentage change is annualized.

7 of 7

Synovus

CREDIT QUALITY DATA
(Unaudited)
(Dollars in thousands)

	2008			2007									1st Quarter
	First			Fourth			Third		Second		First		’08 vs. ’07
	Quarter			Quarter			Quarter		Quarter		Quarter		Change
Nonperforming Loans (1)	$	515,302			342,082			224,055		180,776		138,790		271.3	%
Impaired Loans Held for Sale (2)		42,270			—			—		—		—	NM
Other Real Estate		121,753			101,487			76,514		41,259		31,710		284.0
Nonperforming Assets		679,325			443,569			300,569		222,035		170,500		298.4
Allowance for Loan Losses		394,848			367,613			356,887		331,130		326,826		20.8
Net Charge-Offs — Quarter		63,813			59,916			33,013		15,978		8,148		683.2
Net Charge-Offs — YTD		63,813			117,055			57,139		24,126		8,148		683.2
Net Charge-Offs / Average Loans — Quarter (5)		0.95	%		0.91	%		0.51		0.25		0.13
Net Charge-Offs / Average Loans — YTD		0.95			0.46			0.30		0.19		0.13
Nonperforming Loans / Loans		1.90			1.29			0.87		0.71		0.55
Nonperforming Assets / Loans, Impaired Loans Held for Sale & ORE		2.49			1.67			1.16		0.87		0.68
Allowance / Loans		1.46			1.39			1.38		1.30		1.30
Allowance / Nonperforming Loans		76.62			107.46			159.29		183.17		235.48
Allowance / Nonperforming Loans (excluding impaired loans for which there is no related allowance for loan losses (3))		218.33			337.49			334.42		417.79		424.79
Past Due Loans over 90 days and still accruing		43,009			33,663			22,667		23,067		27,414		56.9	%
As a Percentage of Loans Outstanding		0.16			0.13			0.09		0.09		0.11
Total Past Due Loans and Still Accruing		377,999			270,496			230,035		164,180		150,188		151.7
As a Percentage of Loans Outstanding		1.39			1.02			0.89		0.64		0.60

REGULATORY CAPITAL RATIOS (4)
(Unaudited)
(Dollars in thousands)

	March 31, 2008			December 31, 2007		March 31, 2007
Tier 1 Capital	$	2,904,068			2,870,558		3,380,391
Total Risk-Based Capital		3,988,884			3,988,171		4,457,498
Tier 1 Capital Ratio		9.07	%		9.11		11.09
Total Risk-Based Capital Ratio		12.46			12.66		14.62
Leverage Ratio		8.96			8.65		10.80

(1)	Includes $334.5 million, $233.2 million, $117.3 million, $101.5 million, and $61.9 at March 31, 2008, December 31, 2007, September 30, 2007, June 30, 2007, and March 31, 2007, respectively of loans considered to be impaired (consisting of collateral dependent loans) for which there is related allowance for loan losses determined in accordance with SFAS No. 114, “Accounting by Creditors for Impairment of a Loan.” The allowance on these loans is zero because the estimated losses on collateral dependent impaired loans have been charged-off, at the time these loans were considered to be impaired .
(2)	Represent impaired loans that are intended to be sold. Held for sale loans are carried at the lower of cost or market value.
(3)	Impaired loans for which there is no related allowance for loan losses are described in note (1).
(4)	March 31, 2008 information is preliminary.
(5)	Ratio is annualized.