Exhibit 99.2
Synovus
INCOME STATEMENT DATA
(Unaudited)
Nine Months Ended September 30, | ||||||||||||
(Dollars in thousands, except per share data) | 2012 | 2011 | Change | |||||||||
Interest income | $ | 764,140 | 868,453 | (12.0 | )% | |||||||
Interest expense | 117,479 | 171,455 | (31.5 | ) | ||||||||
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Net interest income | 646,661 | 696,998 | (7.2 | ) | ||||||||
Provision for loan losses | 173,843 | 364,230 | (52.3 | ) | ||||||||
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Net interest income after provision for loan losses | 472,818 | 332,768 | 42.1 | |||||||||
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Non-interest income: | ||||||||||||
Service charges on deposit accounts | 57,319 | 59,595 | (3.8 | ) | ||||||||
Fiduciary and asset management fees | 31,966 | 35,046 | (8.8 | ) | ||||||||
Brokerage revenue | 19,786 | 19,067 | 3.8 | |||||||||
Mortgage banking income | 23,247 | 15,469 | 50.3 | |||||||||
Bankcard fees | 23,938 | 34,344 | (30.3 | ) | ||||||||
Investment securities gains, net | 30,909 | 64,670 | (52.2 | ) | ||||||||
Other fee income | 14,927 | 15,643 | (4.6 | ) | ||||||||
Increase (decrease) in fair value of private equity investments, net | 6,428 | (941 | ) | nm | ||||||||
Other non-interest income | 25,329 | 22,512 | 12.5 | |||||||||
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Total non-interest income | 233,849 | 265,405 | (11.9 | ) | ||||||||
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Non-interest expense: | ||||||||||||
Salaries and other personnel expense | 280,972 | 278,431 | 0.9 | |||||||||
Net occupancy and equipment expense | 79,512 | 86,698 | (8.3 | ) | ||||||||
FDIC insurance and other regulatory fees | 37,171 | 45,826 | (18.9 | ) | ||||||||
Foreclosed real estate expense, net | 55,677 | 101,716 | (45.3 | ) | ||||||||
Losses (gains) on other loans held for sale, net | 4,005 | (2,591 | ) | nm | ||||||||
Professional fees | 29,270 | 30,264 | (3.3 | ) | ||||||||
Data processing expense | 25,020 | 27,225 | (8.1 | ) | ||||||||
Visa indemnification charges | 5,546 | 96 | nm | |||||||||
Restructuring charges | 3,444 | 30,026 | (88.5 | ) | ||||||||
Other operating expenses | 82,273 | 86,992 | (5.4 | ) | ||||||||
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Total non-interest expense | 602,890 | 684,683 | (11.9 | ) | ||||||||
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Income (loss) before income taxes | 103,777 | (86,510 | ) | nm | ||||||||
Income tax (benefit) expense | (2,393 | ) | 1,690 | nm | ||||||||
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Net income (loss) | 106,170 | (88,200 | ) | nm | ||||||||
Net loss attributable to non-controlling interest | — | (220 | ) | nm | ||||||||
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Net income (loss) available to controlling interest | 106,170 | (87,980 | ) | nm | ||||||||
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Dividends and accretion of discount on preferred stock | 43,968 | 43,510 | 1.1 | |||||||||
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Net income (loss) available to common shareholders | $ | 62,202 | (131,490 | ) | nm | |||||||
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Basic EPS | ||||||||||||
Net income (loss) available to common shareholders | 0.08 | (0.17 | ) | nm | ||||||||
Diluted EPS | ||||||||||||
Net income (loss) available to common shareholders | 0.07 | (0.17 | ) | nm | ||||||||
Cash dividends declared per common share | 0.03 | 0.03 | — | |||||||||
Return on average assets | 0.53 | % | (0.41 | ) | nm | |||||||
Return on average common equity | 4.33 | (8.85 | ) | nm | ||||||||
Average common shares outstanding - basic | 786,429 | 785,267 | 0.1 | % | ||||||||
Average common shares outstanding - diluted | 909,717 | 785,267 | nm |
nm | - not meaningful |
Synovus
INCOME STATEMENT DATA
(Unaudited)
2012 | 2011 | 3rd Quarter | ||||||||||||||||||||||
(Dollars in thousands, except per share data) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | ‘12 vs. ‘11 Change | ||||||||||||||||||
Interest income | $ | 247,676 | 253,809 | 262,654 | 273,303 | 281,970 | (12.2 | )% | ||||||||||||||||
Interest expense | 35,331 | 40,453 | 41,695 | 46,147 | 53,367 | (33.8 | ) | |||||||||||||||||
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Net interest income | 212,345 | 213,356 | 220,959 | 227,156 | 228,603 | (7.1 | ) | |||||||||||||||||
Provision for loan losses | 63,572 | 44,222 | 66,049 | 54,565 | 102,325 | (37.9 | ) | |||||||||||||||||
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Net interest income after provision for loan losses | 148,773 | 169,134 | 154,910 | 172,591 | 126,278 | 17.8 | ||||||||||||||||||
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Non-interest income: | ||||||||||||||||||||||||
Service charges on deposit accounts | 20,404 | 18,684 | 18,231 | 19,175 | 20,039 | 1.8 | ||||||||||||||||||
Fiduciary and asset management fees | 10,340 | 10,792 | 10,835 | 10,763 | 11,631 | (11.1 | ) | |||||||||||||||||
Brokerage revenue | 6,844 | 6,295 | 6,647 | 6,939 | 6,556 | 4.4 | ||||||||||||||||||
Mortgage banking income | 9,261 | 7,983 | 6,003 | 4,847 | 7,427 | 24.7 | ||||||||||||||||||
Bankcard fees | 7,866 | 8,493 | 7,579 | 7,150 | 11,562 | (32.0 | ) | |||||||||||||||||
Investment securities gains, net | 6,656 | 4,170 | 20,083 | 10,337 | 62,873 | (89.4 | ) | |||||||||||||||||
Other fee income | 5,276 | 4,951 | 4,700 | 4,310 | 5,423 | (2.7 | ) | |||||||||||||||||
(Decrease) increase in fair value of private equity investments, net | (944 | ) | 7,279 | 93 | (177 | ) | (771 | ) | (22.4 | ) | ||||||||||||||
Other non-interest income | 7,530 | 7,830 | 9,968 | 10,126 | 8,652 | (13.0 | ) | |||||||||||||||||
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Total non-interest income | 73,233 | 76,477 | 84,139 | 73,470 | 133,392 | (45.1 | ) | |||||||||||||||||
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Non-interest expense: | ||||||||||||||||||||||||
Salaries and other personnel expense | 93,177 | 95,173 | 92,622 | 93,115 | 93,184 | (0.0 | ) | |||||||||||||||||
Net occupancy and equipment expense | 26,647 | 26,159 | 26,706 | 27,338 | 27,981 | (4.8 | ) | |||||||||||||||||
FDIC insurance and other regulatory fees | 9,205 | 13,302 | 14,663 | 13,238 | 15,463 | (40.5 | ) | |||||||||||||||||
Foreclosed real estate expense, net | 11,997 | 20,708 | 22,972 | 31,853 | 37,108 | (67.7 | ) | |||||||||||||||||
Losses (gains) on other loans held for sale, net | 4,104 | (1,058 | ) | 959 | (145 | ) | (846 | ) | nm | |||||||||||||||
Professional fees | 10,074 | 9,929 | 9,267 | 10,321 | 10,135 | (0.6 | ) | |||||||||||||||||
Data processing expense | 8,284 | 8,712 | 8,024 | 8,532 | 9,024 | (8.2 | ) | |||||||||||||||||
Visa indemnification charges | 833 | 1,734 | 2,979 | 5,942 | — | nm | ||||||||||||||||||
Restructuring charges | 1,192 | 1,393 | 858 | 639 | 2,587 | (53.9 | ) | |||||||||||||||||
Other operating expenses | 25,979 | 32,212 | 24,083 | 28,249 | 27,916 | (6.9 | ) | |||||||||||||||||
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Total non-interest expense | 191,492 | 208,264 | 203,133 | 219,082 | 222,552 | (14.0 | ) | |||||||||||||||||
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Income before income taxes | 30,514 | 37,347 | 35,916 | 26,979 | 37,118 | (17.8 | ) | |||||||||||||||||
Income tax (benefit) expense | (211 | ) | (2,105 | ) | (77 | ) | (378 | ) | 6,910 | nm | ||||||||||||||
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Net income | 30,725 | 39,452 | 35,993 | 27,357 | 30,208 | 1.7 | ||||||||||||||||||
Dividends and accretion of discount on preferred stock | 14,695 | 14,649 | 14,624 | 14,578 | 14,541 | 1.1 | ||||||||||||||||||
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Net income available to common shareholders | $ | 16,030 | 24,803 | 21,369 | 12,779 | 15,667 | 2.3 | |||||||||||||||||
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Basic EPS | ||||||||||||||||||||||||
Net income available to common shareholders | 0.02 | 0.03 | 0.03 | 0.02 | 0.02 | — | ||||||||||||||||||
Diluted EPS | ||||||||||||||||||||||||
Net income available to common shareholders | 0.02 | 0.03 | 0.02 | 0.01 | 0.02 | — | ||||||||||||||||||
Cash dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | — | ||||||||||||||||||
Return on average assets * | 0.47 | % | 0.59 | % | 0.53 | % | 0.39 | 0.42 | 11.9 | |||||||||||||||
Return on average common equity * | 3.30 | 5.23 | 4.49 | 2.66 | 3.20 | 3.1 | ||||||||||||||||||
Average common shares outstanding - basic | 786,576 | 786,576 | 786,135 | 785,289 | 785,280 | 0.2 | % | |||||||||||||||||
Average common shares outstanding - diluted | 910,396 | 909,761 | 908,986 | 911,253 | 911,247 | (0.1 | ) |
nm | - not meaningful |
* | - ratios are annualized |
Synovus
BALANCE SHEET DATA
(Unaudited)
September 30, 2012 | December 31, 2011 | September 30, 2011 | ||||||||||
(In thousands, except share data) | ||||||||||||
ASSETS | ||||||||||||
Cash and cash equivalents | $ | 454,028 | 510,423 | 452,034 | ||||||||
Interest bearing funds with Federal Reserve Bank | 815,156 | 1,567,006 | 2,750,953 | |||||||||
Interest earning deposits with banks | 27,215 | 13,590 | 21,560 | |||||||||
Federal funds sold and securities purchased under resale agreements | 116,318 | 158,916 | 189,304 | |||||||||
Trading account assets, at fair value | 5,953 | 16,866 | 17,467 | |||||||||
Mortgage loans held for sale, at fair value | 246,224 | 161,509 | 125,379 | |||||||||
Other loans held for sale | 11,254 | 30,156 | 53,074 | |||||||||
Investment securities available for sale, at fair value | 3,229,440 | 3,690,125 | 3,596,511 | |||||||||
Loans, net of deferred fees and costs | 19,731,865 | 20,079,813 | 20,102,086 | |||||||||
Allowance for loan losses | (420,404 | ) | (536,494 | ) | (595,383 | ) | ||||||
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Loans, net | 19,311,461 | 19,543,319 | 19,506,703 | |||||||||
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Premises and equipment, net | 475,222 | 486,923 | 488,074 | |||||||||
Goodwill | 24,431 | 24,431 | 24,431 | |||||||||
Other intangible assets, net | 5,895 | 8,525 | 9,482 | |||||||||
Other real estate | 189,182 | 204,232 | 239,255 | |||||||||
Other assets | 852,865 | 746,824 | 779,697 | |||||||||
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Total assets | $ | 25,764,644 | 27,162,845 | 28,253,924 | ||||||||
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LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
Liabilities: | ||||||||||||
Deposits: | ||||||||||||
Non-interest bearing deposits | $ | 5,503,288 | 5,366,868 | 5,249,335 | ||||||||
Interest bearing deposits, excluding brokered deposits | 14,423,583 | 15,261,710 | 15,702,461 | |||||||||
Brokered deposits | 919,959 | 1,783,174 | 2,157,631 | |||||||||
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Total deposits | 20,846,830 | 22,411,752 | 23,109,427 | |||||||||
Federal funds purchased and securities sold under repurchase agreements | 165,865 | 313,757 | 328,806 | |||||||||
Long-term debt | 1,654,183 | 1,364,727 | 1,522,334 | |||||||||
Other liabilities | 222,066 | 245,157 | 463,909 | |||||||||
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Total liabilities | 22,888,944 | 24,335,393 | 25,424,476 | |||||||||
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Equity: | ||||||||||||
Shareholders’ equity: | ||||||||||||
Series A Preferred Stock, no par value (1) | 954,690 | 947,017 | 944,538 | |||||||||
Common stock, par value $1.00 (2) | 792,269 | 790,989 | 790,974 | |||||||||
Additional paid-in capital | 2,202,903 | 2,241,171 | 2,254,068 | |||||||||
Treasury stock, at cost (3) | (114,176 | ) | (114,176 | ) | (114,176 | ) | ||||||
Accumulated other comprehensive income | 16,156 | 21,093 | 32,189 | |||||||||
Accumulated deficit | (976,142 | ) | (1,058,642 | ) | (1,078,145 | ) | ||||||
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Total shareholders’ equity | 2,875,700 | 2,827,452 | 2,829,448 | |||||||||
Total liabilities and shareholders’ equity | $ | 25,764,644 | 27,162,845 | 28,253,924 | ||||||||
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(1) | Preferred shares outstanding: 967,870, at all periods presented |
(2) | Common shares outstanding: 786,575,516; 785,295,428; and 785,280,277 at September 30, 2012, December 31, 2011, and September 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) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | |||||||||||||||
Interest Earning Assets | ||||||||||||||||||||
Taxable investment securities(2) | $ | 3,495,838 | 3,539,376 | 3,577,026 | 3,647,459 | 3,152,589 | ||||||||||||||
Yield | 1.67 | % | 2.11 | 2.35 | 2.59 | 3.28 | ||||||||||||||
Tax-exempt investment securities(2) (4) | $ | 19,503 | 21,408 | 23,559 | 25,566 | 27,903 | ||||||||||||||
Yield (taxable equivalent) | 6.47 | % | 6.40 | 6.36 | 6.57 | 6.66 | ||||||||||||||
Trading account assets | $ | 12,343 | 13,647 | 14,975 | 19,107 | 14,601 | ||||||||||||||
Yield | 8.27 | % | 6.93 | 7.47 | 4.87 | 5.76 | ||||||||||||||
Commercial loans(3) (4) | $ | 15,691,881 | 15,941,719 | 16,144,615 | 16,276,207 | 16,535,371 | ||||||||||||||
Yield | 4.63 | % | 4.67 | 4.76 | 4.82 | 4.88 | ||||||||||||||
Consumer loans(3) | $ | 3,940,000 | 3,896,941 | 3,866,084 | 3,871,393 | 3,869,698 | ||||||||||||||
Yield | 4.80 | % | 4.87 | 4.95 | 4.95 | 5.06 | ||||||||||||||
Allowance for loan losses | $ | (446,495 | ) | (498,419 | ) | (529,669 | ) | (587,956 | ) | (632,082 | ) | |||||||||
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Loans, net(3) | $ | 19,185,386 | 19,340,241 | 19,481,030 | 19,559,644 | 19,772,987 | ||||||||||||||
Yield | 4.79 | % | 4.85 | 4.94 | 5.01 | 5.09 | ||||||||||||||
Mortgage loans held for sale | $ | 175,199 | 90,499 | 112,040 | 161,632 | 91,257 | ||||||||||||||
Yield | 4.03 | % | 4.99 | 4.88 | 4.58 | 5.74 | ||||||||||||||
Federal funds sold, due from Federal Reserve Bank, and other short-term investments | $ | 1,215,743 | 1,668,814 | 1,830,295 | 2,221,728 | 3,075,470 | ||||||||||||||
Yield | 0.24 | % | 0.24 | 0.24 | 0.24 | 0.24 | ||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock (5) | $ | 53,239 | 63,665 | 78,100 | 84,171 | 96,442 | ||||||||||||||
Yield | 1.87 | % | 1.85 | 1.43 | 0.93 | 0.90 | ||||||||||||||
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Total interest earning assets | $ | 24,157,251 | 24,737,650 | 25,117,025 | 25,719,307 | 26,231,249 | ||||||||||||||
Yield | 4.09 | % | 4.14 | 4.22 | 4.23 | 4.28 | ||||||||||||||
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Interest Bearing Liabilities | ||||||||||||||||||||
Interest bearing demand deposits | $ | 3,344,561 | 3,404,540 | 3,540,327 | 3,457,677 | 3,302,439 | ||||||||||||||
Rate | 0.19 | % | 0.22 | 0.25 | 0.26 | 0.30 | ||||||||||||||
Money market accounts | $ | 6,751,607 | 6,769,037 | 6,755,769 | 6,697,334 | 6,636,751 | ||||||||||||||
Rate | 0.33 | % | 0.42 | 0.49 | 0.57 | 0.73 | ||||||||||||||
Savings deposits | $ | 557,086 | 557,149 | 534,118 | 516,520 | 521,604 | ||||||||||||||
Rate | 0.10 | % | 0.11 | 0.12 | 0.12 | 0.13 | ||||||||||||||
Time deposits under $100,000 | $ | 1,763,864 | 1,868,348 | 1,967,084 | 2,062,171 | 2,131,453 | ||||||||||||||
Rate | 0.85 | % | 0.97 | 1.08 | 1.17 | 1.27 | ||||||||||||||
Time deposits over $100,000 | $ | 2,176,488 | 2,336,496 | 2,480,044 | 2,710,893 | 2,912,476 | ||||||||||||||
Rate | 1.11 | % | 1.23 | 1.33 | 1.40 | 1.49 | ||||||||||||||
Brokered money market accounts | $ | 186,336 | 222,916 | 223,113 | 236,973 | 325,002 | ||||||||||||||
Rate | 0.33 | % | 0.33 | 0.28 | 0.27 | 0.39 | ||||||||||||||
Brokered time deposits | $ | 820,908 | 1,036,521 | 1,346,868 | 1,689,538 | 2,053,811 | ||||||||||||||
Rate | 1.83 | % | 1.94 | 1.89 | 1.87 | 1.88 | ||||||||||||||
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Total interest bearing deposits | $ | 15,600,850 | 16,195,007 | 16,847,323 | 17,371,106 | 17,883,536 | ||||||||||||||
Rate | 0.54 | % | 0.64 | 0.73 | 0.82 | 0.95 | ||||||||||||||
Federal funds purchased and other short-term liabilities | $ | 350,183 | 368,984 | 296,018 | 329,343 | 368,311 | ||||||||||||||
Rate | 0.17 | % | 0.18 | 0.24 | 0.26 | 0.28 | ||||||||||||||
Long-term debt | $ | 1,372,741 | 1,326,239 | 1,386,324 | 1,443,825 | 1,693,673 | ||||||||||||||
Rate | 4.09 | % | 4.34 | 3.19 | 2.78 | 2.45 | ||||||||||||||
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Total interest bearing liabilities | $ | 17,323,774 | 17,890,230 | 18,529,665 | 19,144,274 | 19,945,520 | ||||||||||||||
Rate | 0.81 | % | 0.91 | 0.90 | 0.96 | 1.06 | ||||||||||||||
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Non-interest bearing demand deposits | $ | 5,560,827 | 5,606,352 | 5,397,964 | 5,413,322 | 5,175,521 | ||||||||||||||
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Net interest margin | 3.51 | % | 3.48 | 3.55 | 3.52 | 3.47 | ||||||||||||||
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Taxable equivalent adjustment | $ | 761 | 780 | 798 | 844 | 880 |
(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) | September 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 | $ | 759,500 | 3.8 | % | $ | 4,531 | 0.6 | % | ||||||||
Hotels | 689,196 | 3.5 | 13,278 | 1.9 | ||||||||||||
Office Buildings | 772,961 | 3.9 | 12,277 | 1.8 | ||||||||||||
Shopping Centers | 911,804 | 4.6 | 25,397 | 3.6 | ||||||||||||
Commercial Development | 279,585 | 1.4 | 46,682 | 6.7 | ||||||||||||
Warehouses | 508,770 | 2.6 | 3,348 | 0.5 | ||||||||||||
Other Investment Property | 469,081 | 2.4 | 8,795 | 1.3 | ||||||||||||
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Total Investment Properties | 4,390,897 | 22.3 | 114,308 | 16.3 | ||||||||||||
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1-4 Family Construction | 152,598 | 0.8 | 14,607 | 2.1 | ||||||||||||
1-4 Family Investment Mortgage | 906,744 | 4.6 | 45,103 | 6.4 | ||||||||||||
Residential Development | 367,908 | 1.9 | 74,289 | 10.6 | ||||||||||||
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Total 1-4 Family Properties | 1,427,250 | 7.2 | 133,999 | 19.1 | ||||||||||||
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Land Acquisition | 909,420 | 4.6 | 183,125 | 26.2 | ||||||||||||
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| |||||||||
Total Commercial Real Estate | 6,727,567 | 34.1 | 431,432 | 61.6 | ||||||||||||
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|
|
|
|
|
| |||||||||
Commercial, Financial, and Agricultural | 5,175,114 | 26.2 | 123,894 | 17.7 | ||||||||||||
Owner-Occupied Real Estate | 3,877,578 | 19.7 | 62,830 | 9.0 | ||||||||||||
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|
|
|
|
|
|
| |||||||||
Total Commercial & Industrial | 9,052,692 | 45.9 | 186,724 | 26.7 | ||||||||||||
Home Equity Lines | 1,572,986 | 8.0 | 21,220 | 3.0 | ||||||||||||
Consumer Mortgages | 1,399,432 | 7.1 | 52,313 | 7.5 | ||||||||||||
Small Business | 444,783 | 2.3 | 5,833 | 0.8 | ||||||||||||
Credit Cards | 257,922 | 1.3 | — | — | ||||||||||||
Other Retail Loans | 293,536 | 1.5 | 2,682 | 0.4 | ||||||||||||
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|
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|
|
|
| |||||||||
Total Retail | 3,968,659 | 20.0 | 82,048 | 11.7 | ||||||||||||
Unearned Income | (17,053 | ) | nm | — | nm | |||||||||||
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|
|
|
|
|
|
| |||||||||
Total | $ | 19,731,865 | 100.0 | % | $ | 700,204 | 100.0 | % | ||||||||
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|
|
|
|
LOANS OUTSTANDING BY TYPE COMPARISON
(Unaudited)
(Dollars in thousands) | Total Loans | 3Q12 vs. 2Q12 | 3Q12 vs. 4Q11 | 3Q12 vs. 3Q11 | ||||||||||||
Loan Type | September 30, 2012 | % change (1) | % change (1) | % change | ||||||||||||
Multi-Family | $ | 759,500 | (13.3 | )% | (4.4 | ) | 0.9 | |||||||||
Hotels | 689,196 | (9.9 | ) | (17.3 | ) | (12.7 | ) | |||||||||
Office Buildings | 772,961 | 3.5 | (0.5 | ) | (2.3 | ) | ||||||||||
Shopping Centers | 911,804 | (8.2 | ) | (9.2 | ) | (9.0 | ) | |||||||||
Commercial Development | 279,585 | (5.0 | ) | (3.4 | ) | (7.0 | ) | |||||||||
Warehouses | 508,770 | 18.6 | 5.4 | 2.2 | ||||||||||||
Other Investment Property | 469,081 | 10.0 | 5.9 | 1.3 | ||||||||||||
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|
|
|
|
|
| |||||||||
Total Investment Properties | 4,390,897 | (2.3 | ) | (4.9 | ) | (4.5 | ) | |||||||||
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|
|
|
|
| |||||||||
1-4 Family Construction | 152,598 | (26.6 | ) | (31.2 | ) | (31.2 | ) | |||||||||
1-4 Family Investment Mortgage | 906,744 | (5.3 | ) | (9.5 | ) | (11.1 | ) | |||||||||
Residential Development | 367,908 | (33.1 | ) | (22.6 | ) | (24.0 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total 1-4 Family Properties | 1,427,250 | (15.2 | ) | (15.8 | ) | (17.3 | ) | |||||||||
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|
|
|
|
|
| |||||||||
Land Acquisition | 909,420 | (30.1 | ) | (22.6 | ) | (18.8 | ) | |||||||||
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|
|
|
|
|
|
| |||||||||
Total Commercial Real Estate | 6,727,567 | (9.1 | ) | (10.0 | ) | (9.6 | ) | |||||||||
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|
|
|
|
|
|
| |||||||||
Commercial, Financial, and Agricultural | 5,175,114 | 10.2 | 2.3 | 5.6 | ||||||||||||
Owner-Occupied Real Estate | 3,877,578 | 3.9 | 0.9 | (0.9 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Commercial & Industrial | 9,052,692 | 7.5 | 1.7 | 2.7 | ||||||||||||
Home Equity Lines | 1,572,986 | (7.7 | ) | (3.8 | ) | (2.5 | ) | |||||||||
Consumer Mortgages | 1,399,432 | 4.5 | (1.2 | ) | (1.9 | ) | ||||||||||
Small Business | 444,783 | 63.5 | 64.2 | 64.4 | ||||||||||||
Credit Cards | 257,922 | (6.8 | ) | (7.4 | ) | (3.7 | ) | |||||||||
Other Retail Loans | 293,536 | 3.8 | 8.9 | 5.0 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Retail | 3,968,659 | 4.5 | 3.1 | 2.9 | ||||||||||||
Unearned Income | (17,053 | ) | nm | nm | nm | |||||||||||
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|
|
|
|
|
|
| |||||||||
Total | $ | 19,731,865 | 1.0 | % | (2.3 | ) | (1.8 | ) | ||||||||
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|
|
(1) | Percentage change is annualized. |
Synovus
CREDIT QUALITY DATA
(Unaudited)
2012 | 2011 | 3rd Quarter | ||||||||||||||||||||||
Third | Second | First | Fourth | Third | ‘12 vs. ‘11 | |||||||||||||||||||
(Dollars in thousands) | Quarter | Quarter | Quarter | Quarter | Quarter | Change | ||||||||||||||||||
Non-performing Loans | $ | 700,204 | 755,161 | 836,039 | 883,021 | 872,074 | (19.7 | )% | ||||||||||||||||
Other Loans Held for Sale(1) | 10,019 | 31,306 | 18,317 | 30,156 | 53,074 | (81.1 | ) | |||||||||||||||||
Other Real Estate | 189,182 | 174,941 | 201,429 | 204,232 | 239,255 | (20.9 | ) | |||||||||||||||||
Non-performing Assets | 899,405 | 961,408 | 1,055,785 | 1,117,409 | 1,164,403 | (22.8 | ) | |||||||||||||||||
Allowance for Loan Losses | 420,404 | 453,325 | 507,794 | 536,494 | 595,383 | (29.4 | ) | |||||||||||||||||
Net Charge-Offs - Quarter | 96,493 | 98,692 | 94,749 | 113,454 | 138,344 | (30.3 | ) | |||||||||||||||||
Net Charge-Offs / Average Loans - Quarter(2) | 1.97 | % | 1.99 | 1.90 | 2.26 | 2.72 | ||||||||||||||||||
Non-performing Loans / Loans | 3.55 | 3.84 | 4.21 | 4.40 | 4.34 | |||||||||||||||||||
Non-performing Assets / Loans, Other Loans Held for Sale & ORE | 4.51 | 4.83 | 5.26 | 5.50 | 5.71 | |||||||||||||||||||
Allowance / Loans | 2.13 | 2.30 | 2.56 | 2.67 | 2.96 | |||||||||||||||||||
Allowance / Non-performing Loans | 60.04 | 60.03 | 60.74 | 60.76 | 68.27 | |||||||||||||||||||
Allowance / Non-performing Loans(3) | 131.56 | 136.94 | 128.32 | 124.04 | 145.12 | |||||||||||||||||||
Past Due Loans over 90 days and Still Accruing | $ | 8,972 | 5,863 | 8,388 | 14,521 | 26,860 | (66.6 | )% | ||||||||||||||||
As a Percentage of Loans Outstanding | 0.05 | % | 0.03 | 0.04 | 0.07 | 0.13 | ||||||||||||||||||
Total Past Dues Loans and Still Accruing | $ | 108,633 | 91,962 | 144,794 | 149,441 | 199,561 | (45.6 | ) | ||||||||||||||||
As a Percentage of Loans Outstanding | 0.55 | % | 0.47 | 0.73 | 0.74 | 0.99 | ||||||||||||||||||
Accruing troubled debt restructurings (TDRs) | $ | 698,847 | 687,396 | 651,239 | 668,472 | 640,324 | 9.1 |
(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) | September 30, 2012 | December 31, 2011 | September 30, 2011 | |||||||||
Tier 1 Capital | $ | 2,835,948 | 2,780,774 | 2,770,971 | ||||||||
Total Risk-Based Capital | 3,465,897 | 3,544,089 | 3,533,600 | |||||||||
Tier 1 Capital Ratio | 13.23 | % | 12.94 | 12.97 | ||||||||
Tier 1 Common Equity Ratio | 8.73 | 8.49 | 8.50 | |||||||||
Total Risk-Based Capital Ratio | 16.17 | 16.49 | 16.53 | |||||||||
Tier 1 Leverage Ratio | 10.97 | 10.08 | 9.87 | |||||||||
Common Equity as a Percentage of Total Assets(2) | 7.46 | 6.92 | 6.67 | |||||||||
Tangible Common Equity as a Percentage of Tangible Assets(3) | 7.35 | 6.81 | 6.56 | |||||||||
Tangible Common Equity as a Percentage of Risk Weighted Assets (3) | 8.82 | 8.60 | 8.66 | |||||||||
Book Value Per Common Share(4) (5) | 2.11 | 2.06 | 2.07 | |||||||||
Tangible Book Value Per Common Share(3) (5) | 2.07 | 2.02 | 2.03 |
(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). |