Synovus Financial (SNV) 8-K Synovus Reports Increased Profit for First Quarter of 2012

Exhibit 99.2

Synovus

INCOME STATEMENT DATA

(Unaudited)

	2012			2011												1st Quarter
(Dollars in thousands, except per share data)	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			‘12 vs. ’11 Change
Interest income	$	262,654			273,303			281,970			288,052			298,432			(12.0	)%
Interest expense		41,695			46,147			53,367			57,091			60,998			(31.6	)
Net interest income		220,959			227,156			228,603			230,961			237,434			(6.9	)
Provision for losses on loans		66,049			54,565			102,325			120,159			141,746			(53.4	)
Net interest income after provision for losses on loans		154,910			172,591			126,278			110,802			95,688			61.9
Non-interest income:
Service charges on deposit accounts		18,231			19,175			20,039			19,238			20,318			(10.3	)
Fiduciary and asset management fees		10,835			10,763			11,631			11,879			11,537			(6.1	)
Brokerage revenue		6,647			6,939			6,556			6,291			6,220			6.9
Mortgage revenue		6,003			4,847			7,427			5,547			2,495			140.6
Bankcard fees		7,579			7,150			11,562			12,125			10,657			(28.9	)
Investment securities gains (losses), net		20,083			10,337			62,873			377			1,420			nm
Other fee income		4,700			4,310			5,423			5,289			4,931			(4.7	)
Increase (decrease) in fair value of private equity investments, net		93			(177	)		(771	)		(301	)		132			(29.5	)
Other non-interest income		9,968			10,126			8,652			7,404			6,454			54.4
Total non-interest income		84,139			73,470			133,392			67,849			64,164			31.1
Non-interest expense:
Salaries and other personnel expense		92,622			93,115			93,184			91,749			93,100			(0.5	)
Net occupancy and equipment expense		26,706			27,338			27,981			28,883			29,834			(10.5	)
FDIC insurance and other regulatory fees		14,663			13,238			15,463			15,956			14,406			1.8
Foreclosed real estate expense		22,972			31,853			37,108			39,872			24,737			(7.1	)
Losses (gains) on other loans held for sale, net		959			(145	)		(846	)		480			(2,226	)		nm
Professional fees		9,267			10,321			10,135			10,893			9,236			0.3
Data processing expense		8,024			8,532			9,024			9,251			8,950			(10.3	)
Visa indemnification charges		2,979			5,942			—			92			4			nm
Restructuring charges		858			639			2,587			3,106			24,333			(96.5	)
Loss on curtailment of post-retirement defined benefit plan		—			—			—			—			398			nm
Other operating expenses		24,083			28,249			27,916			22,133			36,944			(34.8	)
Total non-interest expense		203,133			219,082			222,552			222,415			239,716			(15.3	)
Income (loss) before income taxes		35,916			26,979			37,118			(43,764	)		(79,864	)		nm
Income tax (benefit) expense		(77	)		(378	)		6,910			(4,764	)		(456	)		nm
Net income (loss)		35,993			27,357			30,208			(39,000	)		(79,408	)		nm
Net loss attributable to non-controlling interest		—			—			—			—			(220	)		nm
Net income (loss) available to controlling interest		35,993			27,357			30,208			(39,000	)		(79,188	)		nm
Dividends and accretion of discount on preferred stock		14,624			14,578			14,541			14,504			14,466			1.1
Net income (loss) available to common shareholders	$	21,369			12,779			15,667			(53,504	)		(93,654	)		nm
Basic EPS
Net income (loss) available to common shareholders		0.027			0.016			0.020			(0.068	)		(0.119	)		nm
Diluted EPS
Net income (loss) available to common shareholders		0.024			0.014			0.017			(0.068	)		(0.119	)		nm
Cash dividends declared per common share		0.01			0.01			0.01			0.01			0.01			—
Return on average assets *		0.53	%		0.39			0.42			(0.55	)		(1.09	)		nm
Return on average common equity *		4.49			2.66			3.20			(10.95	)		(18.46	)		nm
Average common shares outstanding - basic		786,135			785,289			785,280			785,277			785,243			0.1	%
Average common shares outstanding - diluted		908,986			911,253			911,247			785,277			785,243			15.8

nm - not meaningful

* - ratios are annualized

Synovus

BALANCE SHEET DATA

(Unaudited)

	March 31, 2012			December 31, 2011			March 31, 2011
(In thousands, except share data)
ASSETS
Cash and due from banks	$	485,074			510,423			407,201
Interest bearing funds with Federal Reserve Bank		1,781,002			1,567,006			2,541,884
Interest earning deposits with banks		11,963			13,590			22,217
Federal funds sold and securities purchased under resale agreements		123,676			158,916			129,938
Trading account assets, at fair value		16,398			16,866			17,641
Mortgage loans held for sale, at fair value		96,837			161,509			112,246
Other loans held for sale		19,610			30,156			111,057
Investment securities available for sale, at fair value		3,713,503			3,690,125			3,346,483
Loans, net of unearned income		19,843,698			20,079,813			20,997,422
Allowance for loan losses		(507,794	)		(536,494	)		(678,426	)
Loans, net		19,335,904			19,543,319			20,318,996
Premises and equipment, net		479,976			486,923			495,490
Goodwill		24,431			24,431			24,431
Other intangible assets, net		7,589			8,525			11,424
Other assets		968,829			951,056			1,139,195
Total assets	$	27,064,792			27,162,845			28,678,203
LIABILITIES AND EQUITY
Liabilities:
Deposits:
Non-interest bearing deposits	$	5,535,844			5,366,868			4,698,580
Interest bearing deposits, excluding brokered deposits		15,195,149			15,261,710			15,528,685
Brokered deposits		1,406,709			1,783,174			2,978,614
Total deposits		22,137,702			22,411,752			23,205,879
Federal funds purchased and other short-term borrowings		315,857			313,757			425,209
Long-term debt		1,351,823			1,364,727			1,912,954
Other liabilities		437,647			245,157			251,462
Total liabilities		24,243,029			24,335,393			25,795,504
Equity:
Shareholders’ equity:
Cumulative perpetual preferred stock, no par value (1)		949,536			947,017			939,691
Common stock, par value $1.00 (2)		792,269			790,989			790,968
Additional paid-in capital		2,226,844			2,241,171			2,352,329
Treasury stock, at cost (3)		(114,176	)		(114,176	)		(114,176	)
Accumulated other comprehensive income		(2,195	)		21,093			40,149
Accumulated deficit		(1,030,515	)		(1,058,642	)		(1,126,356	)
Total shareholders’ equity		2,821,763			2,827,452			2,882,605
Non-controlling interest in subsidiaries		—			—			94
Total equity		2,821,763			2,827,452			2,882,699
Total liabilities and equity	$	27,064,792			27,162,845			28,678,203

(1) Preferred shares outstanding: 967,870, at all periods presented

(2) Common shares outstanding: 786,575,497; 785,295,428; and 785,274,094 at March 31, 2012, December 31, 2011, and March 31, 2011, respectively.

(3) Treasury shares: 5,693,452, at all periods presented

Synovus

AVERAGE BALANCES AND YIELDS/RATES (1)

(Unaudited)

	2012			2011
(Dollars in thousands)	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Interest Earning Assets
Taxable investment securities(2)	$	3,577,026			3,647,459			3,152,589			3,172,818			3,264,581
Yield		2.34	%		2.59			3.28			3.46			3.56
Tax-exempt investment securities(2) (4)	$	23,559			25,566			27,903			31,264			44,228
Yield (taxable equivalent)		6.36	%		6.57			6.66			6.73			6.84
Trading account assets	$	14,975			19,107			14,601			16,881			20,281
Yield		7.45	%		4.87			5.76			5.27			5.13
Commercial loans(3) (4)	$	16,144,615			16,276,207			16,535,371			16,983,912			17,555,733
Yield		4.76	%		4.82			4.88			4.92			4.98
Consumer loans(3)	$	3,866,084			3,871,393			3,869,698			3,879,042			3,914,222
Yield		4.94	%		4.95			5.06			5.10			5.25
Allowance for loan losses	$	(529,669	)		(587,956	)		(632,082	)		(678,851	)		(698,609	)
Loans, net(3)	$	19,481,030			19,559,644			19,772,987			20,184,103			20,771,346
Yield		4.94	%		5.01			5.09			5.14			5.21
Mortgage loans held for sale	$	112,040			161,632			91,257			79,340			152,981
Yield		4.88	%		4.58			5.74			6.16			4.74
Federal funds sold, due from Federal Reserve Bank,and other short-term investments	$	1,830,295			2,221,728			3,075,470			2,929,515			3,033,284
Yield		0.24	%		0.24			0.24			0.25			0.25
Federal Home Loan Bank and Federal Reserve Bank stock(5)	$	78,100			84,171			96,442			104,727			111,096
Yield		1.43	%		0.93			0.90			0.87			0.90
Total interest earning assets	$	25,117,025			25,719,307			26,231,249			26,518,648			27,397,797
Yield		4.22	%		4.23			4.28			4.37			4.42
Interest Bearing Liabilities
Interest bearing demand deposits	$	3,540,327			3,457,677			3,302,439			3,379,243			3,526,730
Rate		0.25	%		0.26			0.30			0.32			0.33
Money market accounts	$	6,755,769			6,697,334			6,636,751			6,306,399			6,550,623
Rate		0.49	%		0.57			0.73			0.77			0.76
Savings deposits	$	534,118			516,520			521,604			520,518			493,504
Rate		0.12	%		0.12			0.13			0.14			0.14
Time deposits under $100,000	$	1,967,084			2,062,171			2,131,453			2,124,525			2,212,215
Rate		1.08	%		1.17			1.27			1.38			1.53
Time deposits over $100,000	$	2,480,044			2,710,893			2,912,476			2,978,929			3,291,202
Rate		1.33	%		1.40			1.49			1.57			1.65
Brokered money market accounts	$	223,113			236,973			325,002			390,048			393,981
Rate		0.28	%		0.27			0.39			0.47			0.51
Brokered time deposits	$	1,346,868			1,689,538			2,053,811			2,471,620			2,665,314
Rate		1.89	%		1.87			1.88			1.87			1.83
Total interest bearing deposits	$	16,847,323			17,371,106			17,883,536			18,171,282			19,133,569
Rate		0.73	%		0.82			0.95			1.01			1.05
Federal funds purchased and other short-term liabilities	$	296,018			329,343			368,311			449,815			412,008
Rate		0.24	%		0.26			0.28			0.26			0.29
Long-term debt	$	1,386,324			1,443,825			1,693,673			1,901,130			1,891,576
Rate		3.19	%		2.78			2.45			2.30			2.39
Total interest bearing liabilities	$	18,529,665			19,144,274			19,945,520			20,522,227			21,437,153
Rate		0.90	%		0.96			1.06			1.11			1.15
Non-interest bearing demand deposits	$	5,397,964			5,413,322			5,175,521			4,911,044			4,821,237
Net interest margin		3.55	%		3.52			3.47			3.51			3.52
Taxable equivalent adjustment	$	798			844			880			893			964

(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 35%, 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 balance sheet

Synovus

LOANS OUTSTANDING AND NON-PERFORMING LOANS COMPOSITION

(Unaudited)

(Dollars in thousands)	March 31, 2012
Loan Type	Total Loans			Loans as a % of  Total Loans Outstanding			Total Non-performing Loans		Non-performing Loans as a % of Total Nonperforming Loans
Multi-Family	$	760,911			3.8	%	$	7,534		0.9	%
Hotels		769,000			3.9			7,094		0.8
Office Buildings		758,107			3.8			6,873		0.8
Shopping Centers		936,503			4.7			11,931		1.4
Commercial Development		276,157			1.4			34,018		4.1
Warehouses		482,823			2.4			6,355		0.8
Other Investment Property		463,307			2.3			5,338		0.6
Total Investment Properties		4,446,808			22.3			79,143		9.5
1-4 Family Construction		177,111			0.9			17,383		2.1
1-4 Family Investment Mortgage		955,819			4.8			57,611		6.9
Residential Development		421,226			2.1			103,422		12.4
Total 1-4 Family Properties		1,554,156			7.8			178,416		21.3
Land Acquisition		1,049,547			5.3			242,950		29.0
Total Commercial Real Estate		7,050,511			35.5			500,509		59.8
Commercial , Financial, and Agricultural		5,122,095			25.8			161,014		19.3
Owner-Occupied Real Estate		3,813,638			19.2			92,725		11.1
Total Commercial & Industrial		8,935,733			45.0			253,739		30.4
Home Equity Lines		1,595,675			8.0			24,795		3.0
Consumer Mortgages		1,390,126			7.0			50,944		6.1
Credit Cards		264,470			1.2			—		—
Other Retail Loans		618,487			3.1			6,053		0.7
Total Retail		3,868,758			19.5			81,792		9.8
Unearned Income		(11,304	)		nm			—		nm
Total	$	19,843,698			100.0	%	$	836,040		100.0	%

LOANS OUTSTANDING BY TYPE COMPARISON

(Unaudited)

(Dollars in thousands)	Total Loans						1Q12 vs. 4Q11						1Q12 vs. 1Q11
Loan Type	March 31, 2012			December 31, 2011			% change (1)			March 31, 2011			% change
Multi-Family	$	760,911			785,672			(12.7	)%	$	861,336			(11.7	)%
Hotels		769,000			791,444			(11.4	)		837,377			(8.2	)
Office Buildings		758,107			775,671			(9.1	)		795,144			(4.7	)
Shopping Centers		936,503			979,288			(17.6	)		1,065,314			(12.1	)
Commercial Development		276,157			286,954			(15.1	)		365,925			(24.5	)
Warehouses		482,823			489,086			(5.2	)		518,088			(6.8	)
Other Investment Property		463,307			449,198			12.6			470,379			(1.5	)
Total Investment Properties		4,446,808			4,557,313			(9.8	)		4,913,563			(9.5	)
1-4 Family Construction		177,111			199,088			(44.4	)		278,661			(36.4	)
1-4 Family Investment Mortgage		955,819			976,552			(8.5	)		1,091,498			(12.4	)
Residential Development		421,226			442,844			(19.6	)		584,440			(27.9	)
Total 1-4 Family Properties		1,554,156			1,618,484			(16.0	)		1,954,599			(20.5	)
Land Acquisition		1,049,547			1,094,821			(16.6	)		1,196,310			(12.3	)
Total Commercial Real Estate		7,050,511			7,270,618			(12.2	)		8,064,472			(12.6	)
Commercial , Financial, and Agricultural		5,122,095			5,088,420			2.7			5,128,080			(0.1	)
Owner-Occupied Real Estate		3,813,638			3,852,854			(4.1	)		3,936,498			(3.1	)
Total Commercial & Industrial		8,935,733			8,941,274			(0.2	)		9,064,578			(1.4	)
Home Equity Lines		1,595,675			1,619,585			(5.9	)		1,617,842			(1.4	)
Consumer Mortgages		1,390,126			1,411,749			(6.2	)		1,453,568			(4.4	)
Credit Cards		264,470			273,098			(12.7	)		272,519			(3.0	)
Other Retail Loans		618,487			575,475			30.1			533,338			16.0
Total Retail		3,868,758			3,879,907			(1.2	)		3,877,267			(0.2	)
Unearned Income		(11,304	)		(11,986	)		(22.9	)		(8,895	)		27.1
Total	$	19,843,698			20,079,813			(4.7	)%	$	20,997,422			(5.5	)%

(1) Percentage change is annualized.

Synovus

CREDIT QUALITY DATA

(Unaudited)

	2012			2011									1st Quarter
	First			Fourth		Third		Second		First			‘12 vs.’ 11
(Dollars in thousands)	Quarter			Quarter		Quarter		Quarter		Quarter			Change
Non-performing Loans	$	836,039			883,021		872,074		885,236		895,726			(6.7	)%
Other Loans Held for Sale(1)		18,317			30,156		53,074		89,139		110,436			(83.4	)
Other Real Estate		201,429			204,232		239,255		244,313		269,314			(25.2	)
Non-performing Assets		1,055,785			1,117,409		1,164,403		1,218,688		1,275,476			(17.2	)
Allowance for Loan Losses		507,794			536,494		595,383		631,401		678,426			(25.2	)
Net Charge-Offs - Quarter		94,749			113,454		138,344		167,184		166,867			(43.2	)
Net Charge-Offs / Average Loans - Quarter(2)		1.90	%		2.26		2.72		3.22		3.12
Non-performing Loans / Loans		4.21			4.40		4.34		4.32		4.27
Non-performing Assets / Loans, Other Loans Held for Sale & ORE		5.26			5.50		5.71		5.85		5.97	��
Allowance / Loans		2.56			2.67		2.96		3.08		3.23
Allowance / Non-performing Loans		60.74			60.76		68.27		71.33		75.74
Allowance / Non-performing Loans(3)		128.32			126.54		145.12		161.55		176.08
Past Due Loans over 90 days and Still Accruing	$	8,388			14,521		26,860		23,235		10,490			(20.0	)%
As a Percentage of Loans Outstanding		0.04	%		0.07		0.13		0.11		0.05
Total Past Dues Loans and Still Accruing	$	144,794			149,441		199,561		199,804		201,754			(28.2	)
As a Percentage of Loans Outstanding		0.73	%		0.74		0.99		0.97		0.96
Accruing troubled debt restructurings (TDRs)	$	651,239			668,472		640,324		551,603		545,416			19.4

(1) Represent impaired loans that are intended to be sold. Held for sale loans are carried at the lower of cost or fair value, less costs to sell.

(2) Ratio is annualized.

(3) Excludes non-performing loans for which the expected loss has been charged off.

SELECTED CAPITAL INFORMATION (1)

(Unaudited)

(Dollars in thousands)	March 31, 2012			December 31, 2011		March 31, 2011
Tier 1 Capital	$	2,799,794			2,780,774		2,812,101
Total Risk-Based Capital		3,518,230			3,544,089		3,591,466
Tier 1 Capital Ratio		13.19	%		12.94		12.78
Tier 1 Common Equity Ratio		8.67			8.49		8.47
Total Risk-Based Capital Ratio		16.57			16.49		16.32
Tier 1 Leverage Ratio		10.41			10.08		9.58
Common Equity as a Percentage of Total Assets(2)		6.92			6.92		6.77
Tangible Common Equity as a Percentage of Tangible Assets(3)		6.81			6.81		6.66
Tangible Common Equity as a Percentage of Risk Weighted Assets(3)		8.67			8.60		8.67
Book Value Per Common Share(4)(5)		2.05			2.06		2.14
Tangible Book Value Per Common Share(3)(5)		2.01			2.02		2.10

(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).