Exhibit 99.2
Synovus
INCOME STATEMENT DATA
(Unaudited)
Six Months Ended June 30, | ||||||||||||
(Dollars in thousands, except per share data) | 2012 | 2011 | Change | |||||||||
Interest income | $ | 516,464 | 586,484 | (11.9 | )% | |||||||
Interest expense | 82,148 | 118,089 | (30.4 | ) | ||||||||
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Net interest income | 434,316 | 468,395 | (7.3 | ) | ||||||||
Provision for losses on loans | 110,271 | 261,905 | (57.9 | ) | ||||||||
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Net interest income after provision for losses on loans | 324,045 | 206,490 | 56.9 | |||||||||
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Non-interest income: | ||||||||||||
Service charges on deposit accounts | 36,915 | 39,556 | (6.7 | ) | ||||||||
Fiduciary and asset management fees | 21,627 | 23,416 | (7.6 | ) | ||||||||
Brokerage revenue | 12,942 | 12,511 | 3.4 | |||||||||
Mortgage revenue | 13,986 | 8,042 | 73.9 | |||||||||
Bankcard fees | 16,072 | 22,782 | (29.5 | ) | ||||||||
Investment securities gains (losses), net | 24,253 | 1,797 | nm | |||||||||
Other fee income | 9,651 | 10,220 | (5.6 | ) | ||||||||
Increase (decrease) in fair value of private equity investments, net | 7,372 | (169 | ) | nm | ||||||||
Other non-interest income | 17,798 | 13,858 | 28.4 | |||||||||
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Total non-interest income | 160,616 | 132,013 | 21.7 | |||||||||
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Non-interest expense: | ||||||||||||
Salaries and other personnel expense | 187,795 | 184,849 | 1.6 | |||||||||
Net occupancy and equipment expense | 52,865 | 58,717 | (10.0 | ) | ||||||||
FDIC insurance and other regulatory fees | 27,966 | 30,362 | (7.9 | ) | ||||||||
Foreclosed real estate expense | 43,680 | 64,609 | (32.4 | ) | ||||||||
Gains on other loans held for sale, net | (99 | ) | (1,746 | ) | nm | |||||||
Professional fees | 19,196 | 20,129 | (4.6 | ) | ||||||||
Data processing expense | 16,735 | 18,201 | (8.1 | ) | ||||||||
Visa indemnification charges | 4,713 | 96 | nm | |||||||||
Restructuring charges | 2,252 | 27,439 | nm | |||||||||
Loss on curtailment of post-retirement defined benefit plan | — | 398 | nm | |||||||||
Other operating expenses | 56,296 | 59,077 | (4.7 | ) | ||||||||
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Total non-interest expense | 411,399 | 462,131 | (11.0 | ) | ||||||||
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Income (loss) from continuing operations before income taxes | 73,262 | (123,628 | ) | nm | ||||||||
Income tax benefit | (2,182 | ) | (5,220 | ) | 58.2 | |||||||
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Net income (loss) | 75,444 | (118,408 | ) | nm | ||||||||
Net loss attributable to non-controlling interest | — | (220 | ) | nm | ||||||||
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Net income (loss) attributable to controlling interest | 75,444 | (118,188 | ) | nm | ||||||||
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Dividends and accretion of discount on preferred stock | 29,272 | 28,970 | 1.0 | |||||||||
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Net income (loss) attributable to common shareholders | $ | 46,172 | (147,158 | ) | nm | |||||||
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Basic EPS | ||||||||||||
Net income (loss) attributable to common shareholders | 0.06 | (0.19 | ) | nm | ||||||||
Diluted EPS | ||||||||||||
Net income (loss) attributable to common shareholders | 0.05 | (0.19 | ) | nm | ||||||||
Cash dividends declared per common share | 0.02 | 0.02 | — | |||||||||
Return on average assets | 0.56 | % | (0.82 | ) | nm | |||||||
Return on average common equity | 4.86 | (15.55 | ) | nm | ||||||||
Average common shares outstanding - basic | 786,355 | 785,260 | 0.1 | % | ||||||||
Average common shares outstanding - diluted | 909,542 | 785,260 | 15.8 |
nm | - not meaningful |
Synovus
INCOME STATEMENT DATA
(Unaudited)
2012 | 2011 | 2nd Quarter | ||||||||||||||||||||||
(Dollars in thousands, except per share data) | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | Second Quarter | ‘12 vs. ‘11 Change | ||||||||||||||||||
Interest income | $ | 253,809 | 262,654 | 273,303 | 281,970 | 288,052 | (11.9 | )% | ||||||||||||||||
Interest expense | 40,453 | 41,695 | 46,147 | 53,367 | 57,091 | (29.1 | ) | |||||||||||||||||
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Net interest income | 213,356 | 220,959 | 227,156 | 228,603 | 230,961 | (7.6 | ) | |||||||||||||||||
Provision for losses on loans | 44,222 | 66,049 | 54,565 | 102,325 | 120,159 | (63.2 | ) | |||||||||||||||||
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Net interest income after provision for losses on loans | 169,134 | 154,910 | 172,591 | 126,278 | 110,802 | 52.6 | ||||||||||||||||||
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Non-interest income: | ||||||||||||||||||||||||
Service charges on deposit accounts | 18,684 | 18,231 | 19,175 | 20,039 | 19,238 | (2.9 | ) | |||||||||||||||||
Fiduciary and asset management fees | 10,792 | 10,835 | 10,763 | 11,631 | 11,879 | (9.2 | ) | |||||||||||||||||
Brokerage revenue | 6,295 | 6,647 | 6,939 | 6,556 | 6,291 | 0.1 | ||||||||||||||||||
Mortgage revenue | 7,983 | 6,003 | 4,847 | 7,427 | 5,547 | 43.9 | ||||||||||||||||||
Bankcard fees | 8,493 | 7,579 | 7,150 | 11,562 | 12,125 | (30.0 | ) | |||||||||||||||||
Investment securities gains (losses), net | 4,170 | 20,083 | 10,337 | 62,873 | 377 | nm | ||||||||||||||||||
Other fee income | 4,951 | 4,700 | 4,310 | 5,423 | 5,289 | (6.4 | ) | |||||||||||||||||
Increase (decrease) in fair value of private equity investments, net | 7,279 | 93 | (177 | ) | (771 | ) | (301 | ) | nm | |||||||||||||||
Other non-interest income | 7,830 | 9,968 | 10,126 | 8,652 | 7,404 | 5.8 | ||||||||||||||||||
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Total non-interest income | 76,477 | 84,139 | 73,470 | 133,392 | 67,849 | 12.7 | ||||||||||||||||||
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Non-interest expense: | ||||||||||||||||||||||||
Salaries and other personnel expense | 95,173 | 92,622 | 93,115 | 93,184 | 91,749 | 3.7 | ||||||||||||||||||
Net occupancy and equipment expense | 26,159 | 26,706 | 27,338 | 27,981 | 28,883 | (9.4 | ) | |||||||||||||||||
FDIC insurance and other regulatory fees | 13,302 | 14,663 | 13,238 | 15,463 | 15,956 | (16.6 | ) | |||||||||||||||||
Foreclosed real estate expense | 20,708 | 22,972 | 31,853 | 37,108 | 39,872 | (48.1 | ) | |||||||||||||||||
(Gains) losses on other loans held for sale, net | (1,058 | ) | 959 | (145 | ) | (846 | ) | 480 | nm | |||||||||||||||
Professional fees | 9,929 | 9,267 | 10,321 | 10,135 | 10,893 | (8.8 | ) | |||||||||||||||||
Data processing expense | 8,712 | 8,024 | 8,532 | 9,024 | 9,251 | (5.8 | ) | |||||||||||||||||
Visa indemnification charges | 1,734 | 2,979 | 5,942 | — | 92 | nm | ||||||||||||||||||
Restructuring charges | 1,393 | 858 | 639 | 2,587 | 3,106 | (55.2 | ) | |||||||||||||||||
Other operating expenses | 32,212 | 24,083 | 28,249 | 27,916 | 22,133 | 45.5 | ||||||||||||||||||
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Total non-interest expense | 208,264 | 203,133 | 219,082 | 222,552 | 222,415 | (6.4 | ) | |||||||||||||||||
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Income (loss) before income taxes | 37,347 | 35,916 | 26,979 | 37,118 | (43,764 | ) | nm | |||||||||||||||||
Income tax (benefit) expense | (2,105 | ) | (77 | ) | (378 | ) | 6,910 | (4,764 | ) | (55.8 | ) | |||||||||||||
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Net income (loss) | 39,452 | 35,993 | 27,357 | 30,208 | (39,000 | ) | nm | |||||||||||||||||
Dividends and accretion of discount on preferred stock | 14,649 | 14,624 | 14,578 | 14,541 | 14,504 | 1.0 | ||||||||||||||||||
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Net income (loss) available to common shareholders | $ | 24,803 | 21,369 | 12,779 | 15,667 | (53,504 | ) | nm | ||||||||||||||||
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Basic EPS | ||||||||||||||||||||||||
Net income (loss) available to common shareholders | 0.03 | 0.03 | 0.02 | 0.02 | (0.07 | ) | nm | |||||||||||||||||
Diluted EPS | ||||||||||||||||||||||||
Net income (loss) available to common shareholders | 0.03 | 0.02 | 0.01 | 0.02 | (0.07 | ) | nm | |||||||||||||||||
Cash dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | — | ||||||||||||||||||
Return on average assets * | 0.59 | % | 0.53 | % | 0.39 | 0.42 | (0.55 | ) | nm | |||||||||||||||
Return on average common equity * | 5.23 | 4.49 | 2.66 | 3.20 | (10.95 | ) | nm | |||||||||||||||||
Average common shares outstanding - basic | 786,576 | 786,135 | 785,289 | 785,280 | 785,277 | 0.1 | % | |||||||||||||||||
Average common shares outstanding - diluted | 909,761 | 908,986 | 911,253 | 911,247 | 785,277 | 15.9 |
nm | - not meaningful |
* | - ratios are annualized |
Synovus
BALANCE SHEET DATA
(Unaudited)
June 30, 2012 | December 31, 2011 | June 30, 2011 | ||||||||||
(In thousands, except share data) | ||||||||||||
ASSETS | ||||||||||||
Cash and due from banks | $ | 523,302 | 510,423 | 409,302 | ||||||||
Interest bearing funds with Federal Reserve Bank | 1,301,244 | 1,567,006 | 2,845,277 | |||||||||
Interest earning deposits with banks | 16,003 | 13,590 | 24,133 | |||||||||
Federal funds sold and securities purchased under resale agreements | 118,098 | 158,916 | 127,580 | |||||||||
Trading account assets, at fair value | 12,331 | 16,866 | 16,130 | |||||||||
Mortgage loans held for sale, at fair value | 120,007 | 161,509 | 78,752 | |||||||||
Other loans held for sale | 32,601 | 30,156 | 89,139 | |||||||||
Investment securities available for sale, at fair value | 3,570,346 | 3,690,125 | 3,259,254 | |||||||||
Loans, net of unearned income | 19,680,127 | 20,079,813 | 20,504,810 | |||||||||
Allowance for loan losses | (453,325 | ) | (536,494 | ) | (631,401 | ) | ||||||
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Loans, net | 19,226,802 | 19,543,319 | 19,873,409 | |||||||||
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Premises and equipment, net | 475,944 | 486,923 | 493,638 | |||||||||
Goodwill | 24,431 | 24,431 | 24,431 | |||||||||
Other intangible assets, net | 6,693 | 8,525 | 10,449 | |||||||||
Other real estate | 174,941 | 204,232 | 244,313 | |||||||||
Other assets | 691,367 | 746,824 | 818,103 | |||||||||
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Total assets | $ | 26,294,110 | 27,162,845 | 28,313,910 | ||||||||
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LIABILITIES AND EQUITY | ||||||||||||
Liabilities: | ||||||||||||
Deposits: | ||||||||||||
Non-interest bearing deposits | $ | 5,607,680 | 5,366,868 | 4,877,267 | ||||||||
Interest bearing deposits, excluding brokered deposits | 14,808,493 | 15,261,710 | 15,307,152 | |||||||||
Brokered deposits | 1,148,892 | 1,783,174 | 2,690,598 | |||||||||
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Total deposits | 21,565,065 | 22,411,752 | 22,875,017 | |||||||||
Federal funds purchased and other short-term borrowings | 351,173 | 313,757 | 452,466 | |||||||||
Long-term debt | 1,301,616 | 1,364,727 | 1,894,901 | |||||||||
Other liabilities | 222,867 | 245,157 | 240,588 | |||||||||
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Total liabilities | 23,440,721 | 24,335,393 | 25,462,972 | |||||||||
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Equity: | ||||||||||||
Shareholders’ equity: | ||||||||||||
Series A Preferred Stock, no par value (1) | 952,093 | 947,017 | 942,096 | |||||||||
Common stock, par value $1.00 (2) | 792,269 | 790,989 | 790,973 | |||||||||
Additional paid-in capital | 2,215,201 | 2,241,171 | 2,353,854 | |||||||||
Treasury stock, at cost (3) | (114,176 | ) | (114,176 | ) | (114,176 | ) | ||||||
Accumulated other comprehensive income | 7,003 | 21,093 | 65,905 | |||||||||
Accumulated deficit | (999,001 | ) | (1,058,642 | ) | (1,187,714 | ) | ||||||
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Total shareholders’ equity | 2,853,389 | 2,827,452 | 2,850,938 | |||||||||
Total liabilities and equity | $ | 26,294,110 | 27,162,845 | 28,313,910 | ||||||||
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(1) | Preferred shares outstanding: 967,870, at all periods presented |
(2) | Common shares outstanding: 786,575,535; 785,295,428; and 785,279,194 at June 30, 2012, December 31, 2011, and June 30, 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) | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | Second Quarter | |||||||||||||||
Interest Earning Assets | ||||||||||||||||||||
Taxable investment securities(2) | $ | 3,539,376 | 3,577,026 | 3,647,459 | 3,152,589 | 3,172,818 | ||||||||||||||
Yield | 2.11 | % | 2.34 | 2.59 | 3.28 | 3.46 | ||||||||||||||
Tax-exempt investment securities(2) (4) | $ | 21,408 | 23,559 | 25,566 | 27,903 | 31,264 | ||||||||||||||
Yield (taxable equivalent) | 6.40 | % | 6.36 | 6.57 | 6.66 | 6.73 | ||||||||||||||
Trading account assets | $ | 13,647 | 14,975 | 19,107 | 14,601 | 16,881 | ||||||||||||||
Yield | 6.93 | % | 7.45 | 4.87 | 5.76 | 5.27 | ||||||||||||||
Commercial loans(3) (4) | $ | 15,941,719 | 16,144,615 | 16,276,207 | 16,535,371 | 16,983,912 | ||||||||||||||
Yield | 4.67 | % | 4.76 | 4.82 | 4.88 | 4.92 | ||||||||||||||
Consumer loans(3) | $ | 3,896,941 | 3,866,084 | 3,871,393 | 3,869,698 | 3,879,042 | ||||||||||||||
Yield | 4.87 | % | 4.94 | 4.95 | 5.06 | 5.10 | ||||||||||||||
Allowance for loan losses | $ | (498,419 | ) | (529,669 | ) | (587,956 | ) | (632,082 | ) | (678,851 | ) | |||||||||
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Loans, net(3) | $ | 19,340,241 | 19,481,030 | 19,559,644 | 19,772,987 | 20,184,103 | ||||||||||||||
Yield | 4.85 | % | 4.94 | 5.01 | 5.09 | 5.14 | ||||||||||||||
Mortgage loans held for sale | $ | 90,499 | 112,040 | 161,632 | 91,257 | 79,340 | ||||||||||||||
Yield | 4.99 | % | 4.88 | 4.58 | 5.74 | 6.16 | ||||||||||||||
Federal funds sold, due from Federal Reserve Bank, and other short-term investments | $ | 1,668,814 | 1,830,295 | 2,221,728 | 3,075,470 | 2,929,515 | ||||||||||||||
Yield | 0.24 | % | 0.24 | 0.24 | 0.24 | 0.25 | ||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock(5) | $ | 63,665 | 78,100 | 84,171 | 96,442 | 104,727 | ||||||||||||||
Yield | 1.85 | % | 1.43 | 0.93 | 0.90 | 0.87 | ||||||||||||||
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Total interest earning assets | $ | 24,737,650 | 25,117,025 | 25,719,307 | 26,231,249 | 26,518,648 | ||||||||||||||
Yield | 4.14 | % | 4.22 | 4.23 | 4.28 | 4.37 | ||||||||||||||
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Interest Bearing Liabilities | ||||||||||||||||||||
Interest bearing demand deposits | $ | 3,404,540 | 3,540,327 | 3,457,677 | 3,302,439 | 3,379,243 | ||||||||||||||
Rate | 0.22 | % | 0.25 | 0.26 | 0.30 | 0.32 | ||||||||||||||
Money market accounts | $ | 6,769,037 | 6,755,769 | 6,697,334 | 6,636,751 | 6,306,399 | ||||||||||||||
Rate | 0.42 | % | 0.49 | 0.57 | 0.73 | 0.77 | ||||||||||||||
Savings deposits | $ | 557,149 | 534,118 | 516,520 | 521,604 | 520,518 | ||||||||||||||
Rate | 0.11 | % | 0.12 | 0.12 | 0.13 | 0.14 | ||||||||||||||
Time deposits under $100,000 | $ | 1,868,348 | 1,967,084 | 2,062,171 | 2,131,453 | 2,124,525 | ||||||||||||||
Rate | 0.97 | % | 1.08 | 1.17 | 1.27 | 1.38 | ||||||||||||||
Time deposits over $100,000 | $ | 2,336,496 | 2,480,044 | 2,710,893 | 2,912,476 | 2,978,929 | ||||||||||||||
Rate | 1.23 | % | 1.33 | 1.40 | 1.49 | 1.57 | ||||||||||||||
Brokered money market accounts | $ | 222,916 | 223,113 | 236,973 | 325,002 | 390,048 | ||||||||||||||
Rate | 0.33 | % | 0.28 | 0.27 | 0.39 | 0.47 | ||||||||||||||
Brokered time deposits | $ | 1,036,521 | 1,346,868 | 1,689,538 | 2,053,811 | 2,471,620 | ||||||||||||||
Rate | 1.94 | % | 1.89 | 1.87 | 1.88 | 1.87 | ||||||||||||||
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Total interest bearing deposits | $ | 16,195,007 | 16,847,323 | 17,371,106 | 17,883,536 | 18,171,282 | ||||||||||||||
Rate | 0.64 | % | 0.73 | 0.82 | 0.95 | 1.01 | ||||||||||||||
Federal funds purchased and other short-term liabilities | $ | 368,984 | 296,018 | 329,343 | 368,311 | 449,815 | ||||||||||||||
Rate | 0.18 | % | 0.24 | 0.26 | 0.28 | 0.26 | ||||||||||||||
Long-term debt | $ | 1,326,239 | 1,386,324 | 1,443,825 | 1,693,673 | 1,901,130 | ||||||||||||||
Rate | 4.34 | % | 3.19 | 2.78 | 2.45 | 2.30 | ||||||||||||||
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Total interest bearing liabilities | $ | 17,890,230 | 18,529,665 | 19,144,274 | 19,945,520 | 20,522,227 | ||||||||||||||
Rate | 0.91 | % | 0.90 | 0.96 | 1.06 | 1.11 | ||||||||||||||
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Non-interest bearing demand deposits | $ | 5,606,352 | 5,397,964 | 5,413,322 | 5,175,521 | 4,911,044 | ||||||||||||||
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Net interest margin | 3.48 | % | 3.55 | 3.52 | 3.47 | 3.51 | ||||||||||||||
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Taxable equivalent adjustment | $ | 780 | 798 | 844 | 880 | 893 |
(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) | June 30, 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 | $ | 785,726 | 4.0 | % | $ | 5,997 | 0.8 | % | ||||||||
Hotels | 706,782 | 3.6 | 11,619 | 1.5 | ||||||||||||
Office Buildings | 766,263 | 3.9 | 7,412 | 1.0 | ||||||||||||
Shopping Centers | 931,036 | 4.7 | 10,196 | 1.4 | ||||||||||||
Commercial Development | 283,115 | 1.4 | 37,044 | 4.9 | ||||||||||||
Warehouses | 486,055 | 2.5 | 6,354 | 0.8 | ||||||||||||
Other Investment Property | 457,633 | 2.3 | 8,586 | 1.1 | ||||||||||||
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Total Investment Properties | 4,416,610 | 22.4 | 87,208 | 11.5 | ||||||||||||
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1-4 Family Construction | 163,537 | 0.8 | 11,856 | 1.6 | ||||||||||||
1-4 Family Investment Mortgage | 919,009 | 4.7 | 50,849 | 6.7 | ||||||||||||
Residential Development | 401,278 | 2.0 | 89,993 | 11.9 | ||||||||||||
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Total 1-4 Family Properties | 1,483,824 | 7.5 | 152,698 | 20.2 | ||||||||||||
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Land Acquisition | 983,843 | 5.0 | 213,521 | 28.3 | ||||||||||||
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| |||||||||
Total Commercial Real Estate | 6,884,277 | 35.0 | 453,427 | 60.0 | ||||||||||||
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|
|
| |||||||||
Commercial , Financial, and Agricultural | 5,045,144 | 25.6 | 140,545 | 18.6 | ||||||||||||
Owner-Occupied Real Estate | 3,839,489 | 19.5 | 77,792 | 10.3 | ||||||||||||
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| |||||||||
Total Commercial & Industrial | 8,884,633 | 45.1 | 218,337 | 28.9 | ||||||||||||
Home Equity Lines | 1,603,905 | 8.1 | 24,177 | 3.2 | ||||||||||||
Consumer Mortgages | 1,383,915 | 7.0 | 51,783 | 6.9 | ||||||||||||
Small Business | 383,520 | 1.9 | 5,188 | 0.7 | ||||||||||||
Credit Cards | 262,402 | 1.3 | — | — | ||||||||||||
Other Retail Loans | 290,793 | 1.5 | 2,249 | 0.3 | ||||||||||||
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| |||||||||
Total Retail | 3,924,535 | 19.8 | 83,397 | 11.1 | ||||||||||||
Unearned Income | (13,318 | ) | nm | — | nm | |||||||||||
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| |||||||||
Total | $ | 19,680,127 | 100.0 | % | $ | 755,161 | 100.0 | % | ||||||||
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|
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands) | Total Loans | 2Q12 vs. 1Q12 | 2Q12 vs. 4Q11 | 2Q12 vs. 2Q11 | ||||||||||||
Loan Type | June 30, 2012 | % change (1) | % change (1) | % change | ||||||||||||
Multi-Family | $ | 785,726 | 13.1 | % | 0.0 | (3.9 | ) | |||||||||
Hotels | 706,782 | (32.5 | ) | (21.5 | ) | (13.0 | ) | |||||||||
Office Buildings | 766,263 | 4.3 | (2.4 | ) | (4.0 | ) | ||||||||||
Shopping Centers | 931,036 | (2.3 | ) | (9.9 | ) | (10.1 | ) | |||||||||
Commercial Development | 283,115 | 10.1 | (2.7 | ) | (10.3 | ) | ||||||||||
Warehouses | 486,055 | 2.7 | (1.2 | ) | (6.8 | ) | ||||||||||
Other Investment Property | 457,633 | (4.9 | ) | 3.8 | (1.5 | ) | ||||||||||
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| |||||||||
Total Investment Properties | 4,416,610 | (2.7 | ) | (6.2 | ) | (7.3 | ) | |||||||||
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| |||||||||
1-4 Family Construction | 163,537 | (30.8 | ) | (35.9 | ) | (34.6 | ) | |||||||||
1-4 Family Investment Mortgage | 919,009 | (15.5 | ) | (11.8 | ) | (14.0 | ) | |||||||||
Residential Development | 401,278 | (19.0 | ) | (18.9 | ) | (24.6 | ) | |||||||||
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| |||||||||
Total 1-4 Family Properties | 1,483,824 | (18.2 | ) | (16.7 | ) | (19.8 | ) | |||||||||
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Land Acquisition | 983,843 | (25.2 | ) | (20.4 | ) | (16.6 | ) | |||||||||
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|
| |||||||||
Total Commercial Real Estate | 6,884,277 | (9.5 | ) | (10.7 | ) | (11.7 | ) | |||||||||
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| |||||||||
Commercial , Financial, and Agricultural | 5,045,144 | (6.0 | ) | (1.7 | ) | 1.8 | ||||||||||
Owner-Occupied Real Estate | 3,839,489 | 2.7 | (0.7 | ) | (1.3 | ) | ||||||||||
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| |||||||||
Total Commercial & Industrial | 8,884,633 | (2.3 | ) | (1.3 | ) | 0.4 | ||||||||||
Home Equity Lines | 1,603,905 | 2.1 | (1.9 | ) | (0.5 | ) | ||||||||||
Consumer Mortgages | 1,383,915 | (1.8 | ) | (4.0 | ) | (4.6 | ) | |||||||||
Small Business | 383,520 | 67.3 | 55.7 | 51.5 | ||||||||||||
Credit Cards | 262,402 | (3.1 | ) | (7.9 | ) | (3.4 | ) | |||||||||
Other Retail Loans | 290,793 | 1.2 | 11.4 | 2.5 | ||||||||||||
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|
| |||||||||
Total Retail | 3,924,535 | 5.8 | 2.3 | 1.4 | ||||||||||||
Unearned Income | (13,318 | ) | 71.7 | 22.3 | 51.6 | |||||||||||
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|
|
|
|
|
| |||||||||
Total | $ | 19,680,127 | (3.3 | )% | (4.0 | ) | (4.0 | ) | ||||||||
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(1) | Percentage change is annualized. |
Synovus
CREDIT QUALITY DATA
(Unaudited)
2012 | 2011 | 2nd Quarter | ||||||||||||||||||||||
Second | First | Fourth | Third | Second | ‘12 vs.’ 11 | |||||||||||||||||||
(Dollars in thousands) | Quarter | Quarter | Quarter | Quarter | Quarter | Change | ||||||||||||||||||
Non-performing Loans | $ | 755,161 | 836,039 | 883,021 | 872,074 | 885,236 | (14.7 | )% | ||||||||||||||||
Other Loans Held for Sale(1) | 31,306 | 18,317 | 30,156 | 53,074 | 89,139 | (64.9 | ) | |||||||||||||||||
Other Real Estate | 174,941 | 201,429 | 204,232 | 239,255 | 244,313 | (28.4 | ) | |||||||||||||||||
Non-performing Assets | 961,408 | 1,055,785 | 1,117,409 | 1,164,403 | 1,218,688 | (21.1 | ) | |||||||||||||||||
Allowance for Loan Losses | 453,325 | 507,794 | 536,494 | 595,383 | 631,401 | (28.2 | ) | |||||||||||||||||
Net Charge-Offs - Quarter | 98,692 | 94,749 | 113,454 | 138,344 | 167,184 | (41.0 | ) | |||||||||||||||||
Net Charge-Offs / Average Loans - Quarter(2) | 1.99 | % | 1.90 | 2.26 | 2.72 | 3.22 | ||||||||||||||||||
Non-performing Loans / Loans | 3.84 | 4.21 | 4.40 | 4.34 | 4.32 | |||||||||||||||||||
Non-performing Assets / Loans, Other Loans Held for Sale & ORE | 4.83 | 5.26 | 5.50 | 5.71 | 5.85 | |||||||||||||||||||
Allowance / Loans | 2.30 | 2.56 | 2.67 | 2.96 | 3.08 | |||||||||||||||||||
Allowance / Non-performing Loans | 60.03 | 60.74 | 60.76 | 68.27 | 71.33 | |||||||||||||||||||
Allowance / Non-performing Loans(3) | 136.94 | 128.32 | 124.04 | 145.12 | 161.55 | |||||||||||||||||||
Past Due Loans over 90 days and Still Accruing | $ | 5,863 | 8,388 | 14,521 | 26,860 | 23,235 | (74.8 | )% | ||||||||||||||||
As a Percentage of Loans Outstanding | 0.03 | % | 0.04 | 0.07 | 0.13 | 0.11 | ||||||||||||||||||
Total Past Dues Loans and Still Accruing | $ | 91,962 | 144,794 | 149,441 | 199,561 | 199,804 | (54.0 | ) | ||||||||||||||||
As a Percentage of Loans Outstanding | 0.47 | % | 0.73 | 0.74 | 0.99 | 0.97 | ||||||||||||||||||
Accruing troubled debt restructurings (TDRs) | $ | 687,396 | 651,239 | 668,472 | 640,324 | 551,603 | 24.6 |
(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) | June 30, 2012 | December 31, 2011 | June 30, 2011 | |||||||||
Tier 1 Capital | $ | 2,822,487 | 2,780,774 | 2,758,282 | ||||||||
Total Risk-Based Capital | 3,449,042 | 3,544,089 | 3,522,660 | |||||||||
Tier 1 Capital Ratio | 13.36 | % | 12.94 | 12.84 | ||||||||
Tier 1 Common Equity Ratio | 8.81 | 8.49 | 8.41 | |||||||||
Total Risk-Based Capital Ratio | 16.32 | 16.49 | 16.40 | |||||||||
Tier 1 Leverage Ratio | 10.66 | 10.08 | 9.70 | |||||||||
Common Equity as a Percentage of Total Assets(2) | 7.23 | 6.92 | 6.74 | |||||||||
Tangible Common Equity as a Percentage of Tangible Assets(3) | 7.12 | 6.81 | 6.63 | |||||||||
Tangible Common Equity as a Percentage of Risk Weighted Assets(3) | 8.85 | 8.60 | 8.73 | |||||||||
Book Value Per Common Share(4) (5) | 2.09 | 2.06 | 2.10 | |||||||||
Tangible Book Value Per Common Share(3) (5) | 2.05 | 2.02 | 2.06 |
(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). |