Synovus Financial (SNV) 8-K Synovus Reports Results for Fourth Quarter of 2010

Exhibit 99.2

Synovus

INCOME STATEMENT DATA

(Unaudited)

	Twelve Months Ended
(Dollars in thousands, except per share data)	December 31,
	2010			2009			Change
Interest income (taxable equivalent)	$	1,324,803			1,514,035			(12.5	) %
Interest expense		334,248			498,879			(33.0	)
Net interest income (taxable equivalent)		990,555			1,015,156			(2.4	)
Tax equivalent adjustment		4,222			4,846			(12.9	)
Net interest income		986,333			1,010,310			(2.4	)
Provision for losses on loans		1,131,274			1,805,599			(37.3	)
Net interest expense after provision for losses on loans		(144,941	)		(795,289	)		81.8
Non-interest income:
Service charges on deposit accounts		105,114			117,751			(10.7	)
Fiduciary and asset management fees		44,142			44,168			(0.1	)
Brokerage and investment banking income		28,184			28,475			(1.0	)
Mortgage banking income		33,334			38,521			(13.5	)
Bankcard fees		41,420			36,139			14.6
Investment securities (losses) gains, net		(1,271	)		14,067			(109.0	)
Other fee income		21,129			31,200			(32.3	)
Increase in fair value of private equity investments, net		7,203			1,379			422.3
Gain from sale of MasterCard shares		—			8,351			nm
Gain from sale of Visa shares		—			51,900			nm
Other non-interest income		26,092			38,719			(32.6	)
Total non-interest income		305,347			410,670			(25.6	)
Non-interest expense:
Salaries and other personnel expense		418,629			425,170			(1.5	)
Net occupancy and equipment expense		122,046			123,105			(0.9	)
FDIC insurance and other regulatory fees		69,480			76,314			(9.0	)
Foreclosed real estate expense		163,630			354,269			(53.8	)
Losses on other loans held for sale, net		3,050			1,703			79.1
Visa litigation recovery		—			(6,441	)		nm
Goodwill impairment		—			15,090			nm
Professional fees		45,554			38,802			17.4
Data processing expense		45,478			45,131			0.8
Restructuring charges		5,538			5,995			(7.6	)
Gain on curtailment of post-retirement defined benefit plan		(7,092	)		—			nm
Other operating expenses		143,263			142,151			0.8
Total non-interest expense		1,009,576			1,221,289			(17.3	)
Loss from continuing operations before income taxes		(849,170	)		(1,605,908	)		47.1
Income tax benefit		(15,151	)		(171,977	)		91.2
Loss from continuing operations		(834,019	)		(1,433,931	)		41.8
Income from discontinued operations, net of income taxes		43,161			4,590			nm
Net loss		(790,858	)		(1,429,341	)		44.7
Net (loss) income attributable to non-controlling interest		(179	)		2,364			(107.6	)
Net loss attributable to controlling interest		(790,679	)		(1,431,705	)		44.8
Dividends and accretion of discount on preferred stock		57,510			56,966			1.0
Net loss attributable to common shareholders	$	(848,189	)		(1,488,671	)		43.0
Basic EPS
Net loss from continuing operations attributable to common shareholders	$	(1.30	)		(4.00	)		67.5	%
Net loss attributable to common shareholders		(1.24	)		(3.99	)		69.0
Diluted EPS
Net loss from continuing operations attributable to common shareholders		(1.30	)		(4.00	)		67.5
Net loss attributable to common shareholders		(1.24	)		(3.99	)		69.0
Cash dividends declared per common share		0.04			0.04			—
Return on average assets *		(2.61	)%		(4.16	)		155 bp
Return on average common equity *		(40.49	)		(43.58	)		309
Average common shares outstanding - basic		685,186			372,943			83.7	%
Average common shares outstanding - diluted		685,186			372,943			83.7

nm - not meaningful

*- ratios are annualized

Synovus

INCOME STATEMENT DATA

(Unaudited)

(Dollars in thousands, except per share data)	2010												2009			4th Quarter
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter			‘10 vs. ‘09 Change
Interest income (taxable equivalent)	$	314,525			327,577			338,795			343,906			362,911			(13.3	)%
Interest expense		71,590			81,030			87,700			93,928			105,853			(32.4	)
Net interest income (taxable equivalent)		242,935			246,547			251,095			249,978			257,058			(5.5	)
Tax equivalent adjustment		968			1,087			1,056			1,111			1,227			(21.1	)
Net interest income		241,967			245,460			250,039			248,867			255,831			(5.4	)
Provision for losses on loans		252,401			239,020			298,904			340,948			387,114			(34.8	)
Net interest income (expense) after provision for losses on loans		(10,434	)		6,440			(48,865	)		(92,081	)		(131,283	)		92.1
Non-interest income:
Service charges on deposit accounts		24,248			26,711			27,876			26,280			29,651			(18.2	)
Fiduciary and asset management fees		11,039			10,408			11,357			11,338			11,455			(3.6	)
Brokerage and investment banking income		8,750			6,736			6,768			5,931			7,035			24.4
Mortgage banking income		11,039			10,163			6,318			5,814			7,572			45.8
Bankcard fees		11,431			10,674			9,800			9,515			9,521			20.1
Investment securities (losses) gains , net		(228	)		(612	)		17			(448	)		(663	)		65.6
Other fee income		4,757			5,440			5,402			5,530			7,055			(32.6	)
Increase in fair value of private equity investments, net		1,500			3,521			1,283			899			142			nm
Gain from sale of Visa shares		—			—			—			—			51,900			nm
Other non-interest income		7,354			8,723			5,174			4,839			13,179			(44.2	)
Total non-interest income		79,890			81,764			73,995			69,698			136,847			(41.6	)
Non-interest expense:
Salaries and other personnel expense		104,744			105,933			103,929			104,022			100,575			4.1
Net occupancy and equipment expense		30,169			31,311			30,588			29,978			29,861			1.0
FDIC insurance and other regulatory fees		16,686			16,178			18,970			17,646			17,913			(6.8	)
Foreclosed real estate expense		20,793			50,890			46,440			45,507			34,098			(39.0	)
Losses on other loans held for sale, net		2,976			—			12			61			—			nm
Visa litigation recovery		—			—			—			—			(2,374	)		nm
Goodwill impairment		—			—			—			—			14,849			nm
Professional fees		12,154			12,424			11,595			9,380			10,397			16.9
Data processing expense		12,355			11,117			11,323			10,683			11,615			6.4
Restructuring charges		2,118			3,420			—			—			(347	)		nm
Gain on curtailment of post-retirement defined benefit plan		(7,092	)		—			—			—			—			nm
Other operating expenses		34,103			37,738			35,905			35,520			32,906			3.6
Total non-interest expense		229,006			269,011			258,762			252,797			249,493			(8.2	)
Loss from continuing operations before income taxes		(159,550	)		(180,807	)		(233,632	)		(275,180	)		(243,929	)		34.6
Income tax expense (benefit)		5,884			360			(5,057	)		(16,337	)		25,518			(76.9	)
Loss from continuing operations		(165,434	)		(181,167	)		(228,575	)		(258,843	)		(269,447	)		38.6
Income from discontinued operations, net of income taxes		—			—			—			43,161			889			nm
Net loss		(165,434	)		(181,167	)		(228,575	)		(215,682	)		(268,558	)		38.4
Net income (loss) attributable to non-controlling interest		134			277			(381	)		(209	)		(1	)		nm
Net loss attributable to controlling interest		(165,568	)		(181,444	)		(228,194	)		(215,473	)		(268,557	)		38.3
Dividends and accretion of discount on preferred stock		14,430			14,394			14,360			14,325			14,291			1.0
Net loss attributable to common shareholders	$	(179,998	)		(195,838	)		(242,554	)		(229,798	)		(282,848	)		36.4
Basic EPS
Net loss from continuing operations attributable to common shareholders	$	(0.23	)		(0.25	)		(0.36	)		(0.56	)		(0.58	)		60.6	%
Net loss attributable to common shareholders		(0.23	)		(0.25	)		(0.36	)		(0.47	)		(0.58	)		60.6
Diluted EPS
Net loss from continuing operations attributable to common shareholders		(0.23	)		(0.25	)		(0.36	)		(0.56	)		(0.58	)		60.6
Net loss attributable to common shareholders		(0.23	)		(0.25	)		(0.36	)		(0.47	)		(0.58	)		60.6
Cash dividends declared per common share		0.01			0.01			0.01			0.01			0.01			—
Return on average assets *		(2.12	) %		(2.27	) %		(2.81	) %		(3.22	)%		(3.18	)		106 bp
Return on average common equity *		(31.80	)		(31.80	)		(43.59	)		(59.10	)		(53.25	)		nm
Average common shares outstanding - basic		785,122			784,916			676,753			489,607			486,104			61.5	%
Average common shares outstanding - diluted		785,122			784,916			676,753			489,607			486,104			61.5

nm - not meaningful

* - ratios are annualized

Synovus

BALANCE SHEET DATA

(Unaudited)

(In thousands, except share data)	December 31, 2010			September 30, 2010			December 31, 2009
ASSETS
Cash and due from banks	$	389,021			385,687			564,482
Interest bearing funds with Federal Reserve Bank		3,103,896			3,113,435			1,901,847
Interest earning deposits with banks		16,446			22,271			12,534
Federal funds sold and securities purchased under resale agreements		160,502			177,350			203,959
Trading account assets, at fair value		22,294			15,061			14,370
Mortgage loans held for sale, at fair value		232,839			241,353			138,056
Other loans held for sale		127,365			50,302			36,816
Investment securities available for sale, at fair value		3,440,268			3,326,133			3,188,735
Loans, net of unearned income		21,585,763			22,581,036			25,383,068
Allowance for loan losses		(703,547	)		(836,355	)		(943,725	)
Loans, net		20,882,216			21,744,681			24,439,343
Premises and equipment, net		544,971			555,919			580,375
Goodwill		24,431			24,431			24,431
Other intangible assets, net		12,434			13,463			16,649
Other assets		1,136,465			1,284,675			1,709,821
Total assets	$	30,093,148			30,954,761			32,831,418
LIABILITIES AND EQUITY
Liabilities:
Deposits:
Non-interest bearing deposits	$	4,298,372			4,248,071			4,172,697
Interest bearing deposits		20,201,932			20,988,154			23,260,836
Total deposits		24,500,304			25,236,225			27,433,533
Federal funds purchased and other short-term borrowings		499,226			410,353			475,062
Long-term debt		1,808,161			1,743,097			1,751,592
Other liabilities		260,910			324,077			299,730
Total liabilities		27,068,601			27,713,752			29,959,917
Equity:
Shareholders’ equity:
Cumulative perpetual preferred stock, no par value (1)		937,323			934,991			928,207
Common stock, par value $1.00 (2)		790,956			790,751			495,514
Additional paid-in capital		2,351,508			2,350,392			1,605,097
Treasury stock, at cost (3)		(114,176	)		(114,176	)		(114,155	)
Accumulated other comprehensive income		57,158			91,112			84,806
Accumulated deficit		(1,024,851	)		(837,004	)		(148,428	)
Total shareholders’ equity		2,997,918			3,216,066			2,851,041
Non-controlling interest in subsidiaries		26,629			24,943			20,460
Total equity		3,024,547			3,241,009			2,871,501
Total liabilities and equity	$	30,093,148			30,954,761			32,831,418

(1) Preferred shares outstanding: 967,870

(2) Common shares outstanding: 785,262,837; 785,057,350; and 489,828,319 at December 31, 2010, September 30, 2010, and December 31, 2009, respectively.

(3) Treasury shares: 5,693,452; 5,693,452; and 5,685,638 at December 31, 2010, September 30, 2010, and December 31, 2009, respectively.

Synovus

AVERAGE BALANCES AND YIELDS/RATES *

(Unaudited)

(Dollars in thousands)

	2010												2009			Twelve months ended
Interest Earning Assets	Fourth			Third			Second			First			Fourth			December 31,
	Quarter			Quarter			Quarter			Quarter			Quarter			2010			2009
Taxable investment securities	$	3,104,004			3,055,400			3,068,634			2,952,188			2,983,914		$	3,045,502			3,249,124
Yield		3.76	%		4.08			4.40			4.70			4.79			4.23	%		5.02
Tax-exempt investment securities	$	51,400			62,659			66,125			72,041			88,848		$	62,999			102,681
Yield (taxable equivalent)		7.16	%		6.82			6.85			7.16			7.03			7.00	%		7.02
Trading account assets	$	16,037			14,970			16,763			14,881			14,356		$	15,664			17,556
Yield		5.86	%		4.88			5.47			5.30			5.60			5.31	%		6.21
Commercial loans	$	18,315,882			19,041,500			19,982,523			20,880,069			21,722,140		$	19,546,561			22,912,448
Yield		4.90	%		4.92			4.92			4.85			4.82			4.90	%		4.76
Consumer loans	$	3,988,849			4,048,929			4,100,458			4,174,320			4,249,316		$	4,077,551			4,310,292
Yield		5.22	%		5.25			5.33			5.36			5.32			5.29	%		5.39
Allowance for loan losses	$	(819,176	)		(862,970	)		(964,212	)		(951,552	)		(906,484	)	$	(899,015	)		(777,332	)
Loans, net	$	21,485,555			22,227,459			23,118,769			24,102,837			25,064,972		$	22,725,097			26,445,408
Yield		5.16	%		5.19			5.21			5.15			5.10			5.18	%		5.02
Mortgage loans held for sale	$	260,759			194,487			131,700			96,440			114,906		$	171,361			206,085
Yield		4.60	%		5.16			5.54			5.49			5.29			5.05	%		5.26
Federal funds sold, due from Federal Reserve Bank, and other short-term investments	$	3,628,939			3,720,649			3,591,353			2,435,880			2,995,367		$	3,348,505			1,719,850
Yield		0.25	%		0.25			0.25			0.24			0.24			0.25	%		0.25
Federal Home Loan Bank and Federal Reserve Bank stock (1)	$	113,341			122,356			140,209			142,524			140,550		$	129,508			132,415
Yield		0.59	%		0.87			0.82			0.97			1.01			0.82	%		0.91
Total interest earning assets	$	28,660,035			29,397,980			30,133,553			29,816,791			31,402,913		$	29,498,635			31,873,119
Yield		4.36	%		4.42			4.51			4.67			4.59			4.49	%		4.75
Interest Bearing Liabilities
Interest bearing demand deposits	$	3,864,106			3,601,825			3,617,669			3,636,437			3,851,237		$	3,680,419			3,586,798
Rate		0.33	%		0.36			0.42			0.42			0.41			0.38	%		0.44
Money market accounts	$	6,874,367			6,788,768			6,606,161			6,450,696			6,420,003		$	6,681,457			6,311,242
Rate		0.84	%		0.98			1.07			1.19			1.21			1.02	%		1.24
Savings deposits	$	484,460			488,221			495,901			476,007			469,526		$	486,176			469,419
Rate		0.14	%		0.14			0.15			0.15			0.15			0.15	%		0.15
Time deposits under $100,000	$	2,383,411			2,511,830			2,626,852			2,726,002			2,851,913		$	2,560,947			3,056,870
Rate		1.74	%		1.88			2.00			2.17			2.44			1.95	%		2.97
Time deposits over $100,000	$	3,859,235			4,217,972			4,561,517			4,770,429			4,909,253		$	4,349,424			5,273,648
Rate		1.77	%		1.88			1.95			2.05			2.32			1.92	%		2.87
National market brokered money market accounts	$	423,428			537,952			833,811			1,047,417			1,218,363		$	708,469			1,632,613
Rate		0.54	%		0.80			0.83			0.74			0.75			0.75	%		0.78
National market brokered time deposits	$	2,956,904			3,261,113			3,681,660			3,871,581			4,011,648		$	3,439,811			3,720,349
Rate		1.82	%		1.89			1.90			2.13			2.41			1.94	%		2.86
Total interest bearing deposits	$	20,845,911			21,407,681			22,423,571			22,978,569			23,731,943		$	21,906,703			24,050,939
Rate		1.14	%		1.28			1.36			1.48			1.62			1.32	%		1.90
Federal funds purchased and other short-term liabilities	$	442,183			514,295			493,602			472,691			729,988		$	480,700			918,735
Rate		0.33	%		0.36			0.44			0.47			0.45			0.40	%		0.42
Long-term debt	$	1,729,991			1,811,153			1,882,358			1,805,363			1,897,915		$	1,807,021			1,964,411
Rate		2.64	%		2.57			2.36			2.17			1.75			2.40	%		1.97
Total interest bearing liabilities	$	23,018,085			23,733,129			24,799,531			25,256,623			26,359,846		$	24,194,425			26,934,086
Rate		1.23	%		1.36			1.42			1.51			1.59			1.38	%		1.85
Non-interest bearing demand deposits	$	4,433,849			4,310,459			4,271,444			4,243,622			4,162,027		$	4,315,353			3,915,924
Net interest margin		3.37	%		3.33			3.34			3.39			3.25			3.36	%		3.19

* Yields and rates are annualized.

(1) Included as a component of Other Assets on the balance sheet

Synovus

LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION

(Unaudited)

(Dollars in thousands)

	December 31, 2010
Loan Type	Total Loans			Loans as a % of Total Loans Outstanding			Total Nonperforming Loans		Nonperforming Loans as a % of Total Nonperforming Loans
Multi-Family	$	867,328			4.0	%	$	21,219		2.4	%
Hotels		865,974			4.0			4,111		0.5
Office Buildings		842,657			3.9			15,653		1.8
Shopping Centers		1,078,122			5.0			18,713		2.1
Commercial Development		381,107			1.8			36,021		4.0
Warehouses		528,297			2.4			5,265		0.6
Other Investment Property		495,617			2.3			8,440		0.9
Total Investment Properties		5,059,102			23.4			109,422		12.3
1-4 Family Construction		332,047			1.5			57,009		6.4
1-4 Family Perm / Mini-Perm		1,127,566			5.2			75,995		8.5
Residential Development		643,174			3.0			164,575		18.5
Total 1-4 Family Properties		2,102,787			9.7			297,579		33.4
Land Acquisition		1,218,690			5.6			204,524		22.9
Total Commercial Real Estate		8,380,579			38.7			611,525		68.6
Commercial , Financial, and Agricultural		5,267,861			24.4			151,397		17.0
Owner-Occupied		3,996,950			18.6			60,221		6.8
Total Commercial & Industrial		9,264,811			43.0			211,618		23.7
Home Equity		1,648,039			7.6			17,748		2.0
Consumer Mortgages		1,475,261			6.8			45,348		5.1
Credit Card		284,971			1.3			—		—
Other Retail Loans		542,538			2.6			5,383		0.6
Total Retail		3,950,809			18.3			68,479		7.7
Unearned Income		(10,436	)		nm			—		—
Total	$	21,585,763			100.0	%	$	891,622		100.0	%

LOANS OUTSTANDING BY TYPE COMPARISON

(Unaudited)

(Dollars in thousands)

	Total Loans						4Q10 vs. 3Q10						4Q10 vs. 4Q09
Loan Type	December 31, 2010			September 30, 2010			% change (1)			December 31, 2009			% change
Multi-Family	$	867,328			884,910			(7.9	)%	$	949,049			(8.6	)%
Hotels		865,974			970,849			(42.9	)		1,094,517			(20.9	)
Office Buildings		842,657			874,580			(14.5	)		964,214			(12.6	)
Shopping Centers		1,078,122			1,158,052			(27.4	)		1,212,462			(11.1	)
Commercial Development		381,107			419,953			(36.7	)		528,911			(27.9	)
Warehouses		528,297			531,570			(2.4	)		566,290			(6.7	)
Other Investment Property		495,617			526,652			(23.4	)		581,732			(14.8	)
Total Investment Properties		5,059,102			5,366,566			(22.7	)		5,897,175			(14.2	)
1-4 Family Construction		332,047			416,781			(80.7	)		715,171			(53.6	)
1-4 Family Perm / Mini-Perm		1,127,566			1,154,279			(9.2	)		1,272,763			(11.4	)
Residential Development		643,174			861,957			(100.7	)		1,328,317			(51.6	)
Total 1-4 Family Properties		2,102,787			2,433,017			(53.8	)		3,316,251			(36.6	)
Land Acquisition		1,218,690			1,381,603			(46.8	)		1,529,415			(20.3	)
Total Commercial Real Estate		8,380,579			9,181,186			(34.6	)		10,742,841			(22.0	)
Commercial , Financial, and Agricultural		5,267,861			5,263,677			0.3			6,003,735			(12.3	)
Owner-Occupied		3,996,950			4,127,775			(12.6	)		4,443,611			(10.1	)
Total Commercial & Industrial		9,264,811			9,391,452			(5.3	)		10,447,346			(11.3	)
Home Equity		1,648,039			1,672,021			(5.7	)		1,714,994			(3.9	)
Consumer Mortgages		1,475,261			1,516,687			(10.8	)		1,637,978			(9.9	)
Credit Card		284,971			280,898			5.8			294,126			(3.1	)
Other Retail Loans		542,538			551,941			(6.8	)		565,131			(4.0	)
Total Retail		3,950,809			4,021,547			(7.0	)		4,212,229			(6.2	)
Unearned Income		(10,436	)		(13,149	)		(81.9	)		(19,348	)		(46.1	)
Total	$	21,585,763			22,581,036			(17.5	)%	$	25,383,068			(15.0	)%

(1) Percentage change is annualized.

Synovus

CREDIT QUALITY DATA

(Unaudited)

(Dollars in thousands)

	2010									2009		4th Quarter
	Fourth Quarter			Third Quarter		Second Quarter		First Quarter		Fourth Quarter		‘10 vs. ‘09 Change
Nonperforming Loans	$	891,622			1,294,031		1,309,944		1,542,704		1,555,776		(42.7	)%
Other Loans Held for Sale (1)		127,365			50,302		50,208		78,078		36,816		246.0
Other Real Estate		261,305			211,869		212,362		222,155		238,807		9.4
Nonperforming Assets		1,280,292			1,556,202		1,572,514		1,842,937		1,831,399		(30.1	)
Allowance for Loan Losses		703,547			836,355		834,522		968,697		943,725		(25.4	)
Net Charge-Offs - Quarter		385,203			237,187		433,079		315,976		361,857		6.5
Net Charge-Offs - YTD		1,371,452			986,242		749,055		315,976		1,460,175		(6.1	)
Net Charge-Offs / Average Loans - Quarter (2)		6.93	%		4.12		7.21		5.05		5.58
Net Charge-Offs / Average Loans - YTD (2)		5.82			5.47		6.11		5.05		5.37
Nonperforming Loans / Loans		4.13			5.73		5.61		6.32		6.13
Nonperforming Assets / Loans, Other Loans Held for Sale & ORE		5.83			6.81		6.66		7.46		7.14
Allowance / Loans		3.26			3.70		3.58		3.97		3.72
Allowance / Nonperforming Loans		78.91			64.63		63.71		62.79		60.66
Allowance / Nonperforming Loans (3)		192.60			177.98		191.11		128.99		123.66
Past Due Loans over 90 days and Still Accruing	$	16,222			25,028		21,430		35,491		19,938		(18.6	)%
As a Percentage of Loans Outstanding		0.08	%		0.11		0.09		0.15		0.08
Total Past Dues Loans and Still Accruing	$	176,756			253,748		246,635		294,753		262,446		(32.7	)
As a Percentage of Loans Outstanding		0.82	%		1.12		1.06		1.21		1.03
Restructured loans (accruing)	$	464,123			409,768		350,145		261,157		213,552		117.3

(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.

(3) Excludes nonperforming loans for which the expected loss has been charged off.

SELECTED CAPITAL INFORMATION (1)

(Unaudited)

(Dollars in thousands)

	December 31, 2010			September 30, 2010		December 31, 2009
Tier 1 Capital	$	2,909,912			3,092,655		2,721,287
Total Risk-Based Capital		3,756,214			3,954,063		3,637,712
Tier 1 Capital Ratio		12.79	%		13.06		10.16
Tier 1 Common Equity Ratio		8.63			9.07		6.66
Total Risk-Based Capital Ratio		16.51			16.70		13.58
Leverage Ratio		9.44			9.80		8.12
Common Equity as a Percentage of Total Assets (2)		6.85			7.37		5.86
Tangible Common Equity as a Percentage of Tangible Assets (3)		6.73			7.26		5.74
Tangible Common Equity as a Percentage of Risk Weighted Assets (3)		8.90			9.47		7.03
Book Value Per Common Share (4) (5)		2.29			2.57		3.93
Tangible Book Value Per Common Share (3) (5)		2.25			2.53		3.84

(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.

(5) Equity and common shares exclude impact of unexercised tangible equity units (tMEDS).