EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended June 30, | Years Ended December 31, | |||||||||||||||
(in thousands) | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||
Ratio 1 – Including Interest on Deposits | ||||||||||||||||
Earnings: | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (508,814 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | 559,425 | ||||||
Fixed charges | 185,712 | 506,873 | 787,227 | 1,095,972 | 895,696 | 535,408 | ||||||||||
Total | $ | (323,102 | ) | (1,099,035 | ) | 126,421 | 1,616,007 | 1,534,031 | 1,094,833 | |||||||
Fixed Charges: | ||||||||||||||||
Interest on deposits | $ | 159,772 | 456,247 | 667,453 | 912,472 | 746,669 | 408,405 | |||||||||
Interest on short-term borrowings | 1,087 | 3,841 | 38,577 | 92,970 | 72,958 | 34,342 | ||||||||||
Interest on long-term debt | 20,770 | 38,791 | 73,657 | 84,014 | 71,050 | 88,299 | ||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 4,083 | 7,994 | 7,540 | 6,516 | 5,019 | 4,362 | ||||||||||
Total fixed charges | $ | 185,712 | 506,873 | 787,227 | 1,095,972 | 895,696 | 535,408 | |||||||||
Ratio of earnings to fixed charges | (1.74x | ) | (2.17x | ) | 0.16x | 1.47x | 1.71x | 2.04x | ||||||||
Ratio 1 – Excluding Interest on Deposits | ||||||||||||||||
Earnings: | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (508,814 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | 559,425 | ||||||
Fixed charges | 25,940 | 50,626 | 119,774 | 183,500 | 149,027 | 127,003 | ||||||||||
Total | $ | (482,874 | ) | (1,555,282 | ) | (541,032 | ) | 703,535 | 787,362 | 686,428 | ||||||
Fixed Charges: | ||||||||||||||||
Interest on short-term borrowings | $ | 1,087 | 3,841 | 38,577 | 92,970 | 72,958 | 34,342 | |||||||||
Interest on long-term debt | 20,770 | 38,791 | 73,657 | 84,014 | 71,050 | 88,299 | ||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 4,083 | 7,994 | 7,540 | 6,516 | 5,019 | 4,362 | ||||||||||
Total fixed charges | $ | 25,940 | 50,626 | 119,774 | 183,500 | 149,027 | 127,003 | |||||||||
Ratio of earnings to fixed charges | (18.62x | ) | (30.72x | ) | (4.52x | ) | 3.83x | 5.28x | 5.40x |