Exhibit 99.2
Synovus
INCOME STATEMENT DATA | Twelve Months Ended | |||||||||||||||||||
(Unaudited) | ||||||||||||||||||||
(Dollars in thousands, except per share data)
| December 31,
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2013
| 2012
| Change
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Interest income | $ |
|
929,014 |
| 1,004,140 | (7.5) | % | |||||||||||||
Interest expense
|
| 118,822
|
|
| 150,023
|
|
| (20.8)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Net interest income | 810,192 | 854,117 | (5.1) | |||||||||||||||||
Provision for loan losses
|
| 69,598
|
|
| 320,369
|
|
| (78.3)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Net interest income after provision for loan losses
|
| 740,594
|
|
| 533,748
|
|
| 38.8
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Non-interest income: | ||||||||||||||||||||
Service charges on deposit accounts | 77,789 | 78,203 | (0.5) | |||||||||||||||||
Fiduciary and asset management fees | 43,450 | 42,503 | 2.2 | |||||||||||||||||
Brokerage revenue | 27,538 | 26,913 | 2.3 | |||||||||||||||||
Mortgage banking income | 22,482 | 32,272 | (30.3) | |||||||||||||||||
Bankcard fees | 30,641 | 34,075 | (10.1) | |||||||||||||||||
Investment securities gains, net | 2,945 | 39,142 | (92.5) | |||||||||||||||||
Other fee income | 22,567 | 21,138 | 6.8 | |||||||||||||||||
(Decrease) increase in fair value of private equity investments, net | (2,963) | 8,233 | nm | |||||||||||||||||
Other non-interest income |
| 29,122
|
|
| 31,487
|
|
| (7.5)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Total non-interest income |
| 253,571
|
|
| 313,966
|
|
| (19.2)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Non-interest expense: | ||||||||||||||||||||
Salaries and other personnel expense | 368,152 | 375,872 | (2.1) | |||||||||||||||||
Net occupancy and equipment expense | 103,339 | 105,575 | (2.1) | |||||||||||||||||
FDIC insurance and other regulatory fees | 32,758 | 45,408 | (27.9) | |||||||||||||||||
Foreclosed real estate expense, net | 33,864 | 90,655 | (62.6) | |||||||||||||||||
Losses on other loans held for sale, net | 329 | 4,681 | (93.0) | |||||||||||||||||
Professional fees | 38,776 | 41,307 | (6.1) | |||||||||||||||||
Third-party services | 40,135 | 38,006 | 5.6 | |||||||||||||||||
Visa indemnification charges | 1,600 | 6,304 | (74.6) | |||||||||||||||||
Litigation loss contingency expense (1) | 10,000 | - | nm | |||||||||||||||||
Restructuring charges | 11,064 | 5,412 | 104.4 | |||||||||||||||||
Other operating expenses |
| 101,520
|
|
| 103,017
|
|
| (1.5)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Total non-interest expense
|
| 741,537
|
|
| 816,237
|
|
| (9.2)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Income before income taxes | 252,628 | 31,477 | nm | |||||||||||||||||
Income tax expense (benefit)
|
| 93,245
|
|
| (798,732)
|
|
| nm
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Net income | 159,383 | 830,209 | (80.8) | |||||||||||||||||
Dividends and accretion of discount on preferred stock
|
| 40,830
|
|
| 58,703
|
|
| (30.4)
|
| |||||||||||
|
|
|
|
|
| |||||||||||||||
Net income available to common shareholders | $
|
| 118,553
|
|
| 771,506
|
|
| (84.6)
|
| ||||||||||
|
|
|
|
|
| |||||||||||||||
Net income per common share, basic | 0.13 | 0.98 | (86.5) | |||||||||||||||||
Net income per common share, diluted | 0.13 | 0.85 | (85.1) | |||||||||||||||||
Cash dividends declared per common share | 0.04 | 0.04 | - | |||||||||||||||||
Return on average assets | 0.61 | % | 3.15 | (80.6) | ||||||||||||||||
Return on average common equity | 4.39 | 40.65 | (89.2) | |||||||||||||||||
Weighted average common shares outstanding, basic | 892,462 | 786,466 | 13.5 | % | ||||||||||||||||
Weighted average common shares outstanding, diluted | 939,580 | 910,102 | 3.2 |
nm - not meaningful
(1) | Consists of loss contingency accruals with respect to outstanding legal matters. Amounts for periods prior to the three months ended December 31, 2013 are not disclosed separately as amounts are not material. |
Synovus
INCOME STATEMENT DATA | ||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands, except per share data) | 2013 | 2012 | 4th Quarter | |||||||||||||||||||||||||||||||||
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Fourth | Third | Second | First | Fourth | ‘13 vs. ‘12 | |||||||||||||||||||||||||||||||
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Interest income | $ | 233,259 | 233,852 | 231,513 | 230,391 | 240,000 | (2.8) | % | ||||||||||||||||||||||||||||
Interest expense | 28,928 | 29,882 | 29,436 | 30,577 | 32,544 | (11.1) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
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|
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Net interest income | 204,331 | 203,970 | 202,077 | 199,814 | 207,456 | (1.5) | ||||||||||||||||||||||||||||||
Provision for loan losses | 14,064 | 6,761 | 13,077 | 35,696 | 146,526 | (90.4) | ||||||||||||||||||||||||||||||
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|
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Net interest income after provision for loan losses | 190,267 | 197,209 | 189,000 | 164,118 | 60,930 | 212.3 | ||||||||||||||||||||||||||||||
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|
|
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|
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Non-interest income: | ||||||||||||||||||||||||||||||||||||
Service charges on deposit accounts | 19,647 | 19,426 | 19,195 | 19,521 | 20,883 | (5.9) | ||||||||||||||||||||||||||||||
Fiduciary and asset management fees | 10,978 | 10,389 | 11,111 | 10,971 | 10,537 | 4.2 | ||||||||||||||||||||||||||||||
Brokerage revenue | 6,307 | 6,636 | 7,002 | 7,594 | 7,127 | (11.5) | ||||||||||||||||||||||||||||||
Mortgage banking income | 2,913 | 5,314 | 7,338 | 6,917 | 9,025 | (67.7) | ||||||||||||||||||||||||||||||
Bankcard fees | 7,979 | 7,760 | 7,838 | 7,064 | 10,137 | (21.3) | ||||||||||||||||||||||||||||||
Investment securities gains, net | 373 | 1,124 | 1,403 | 45 | 8,233 | (95.5) | ||||||||||||||||||||||||||||||
Other fee income | 6,106 | 5,199 | 5,775 | 5,487 | 6,211 | (1.7) | ||||||||||||||||||||||||||||||
(Decrease) increase in fair value of private equity investments, net | (2,108) | 284 | (883) | (257) | 1,805 | nm | ||||||||||||||||||||||||||||||
Other non-interest income | 7,986 | 7,446 | 6,313 | 7,379 | 6,159 | 29.7 | ||||||||||||||||||||||||||||||
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|
|
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Total non-interest income | 60,181 | 63,578 | 65,092 | 64,721 | 80,117 | (24.9) | ||||||||||||||||||||||||||||||
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Non-interest expense: | ||||||||||||||||||||||||||||||||||||
Salaries and other personnel expense | 91,962 | 92,794 | 89,479 | 93,917 | 94,901 | (3.1) | ||||||||||||||||||||||||||||||
Net occupancy and equipment expense | 26,314 | 26,475 | 26,383 | 24,167 | 26,063 | 1.0 | ||||||||||||||||||||||||||||||
FDIC insurance and other regulatory fees | 8,699 | 7,639 | 7,941 | 8,480 | 8,237 | 5.6 | ||||||||||||||||||||||||||||||
Foreclosed real estate expense, net | 5,064 | 10,359 | 7,502 | 10,940 | 34,978 | (85.5) | ||||||||||||||||||||||||||||||
Losses (gains) on other loans held for sale, net | (159) | 408 | (86) | 165 | 675 | (123.6) | ||||||||||||||||||||||||||||||
Professional fees | 9,855 | 11,410 | 10,416 | 7,095 | 12,037 | (18.1) | ||||||||||||||||||||||||||||||
Third-party services | 9,689 | 10,151 | 10,366 | 9,929 | 9,540 | 1.6 | ||||||||||||||||||||||||||||||
Visa indemnification charges | 799 | - | 764 | 37 | 757 | 5.5 | ||||||||||||||||||||||||||||||
Litigation loss contingency expense (1) | 10,000 | - | - | - | - | nm | ||||||||||||||||||||||||||||||
Restructuring charges | 3,770 | 687 | 1,758 | 4,850 | 1,969 | 91.5 | ||||||||||||||||||||||||||||||
Other operating expenses | 24,745 | 27,405 | 26,663 | 22,706 | 24,189 | 2.3 | ||||||||||||||||||||||||||||||
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Total non-interest expense | 190,738 | 187,328 | 181,186 | 182,286 | 213,346 | (10.6) | ||||||||||||||||||||||||||||||
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Income before income taxes | 59,710 | 73,459 | 72,906 | 46,553 | (72,299) | 182.6 | ||||||||||||||||||||||||||||||
Income tax expense (benefit) | 21,131 | 27,765 | 27,371 | 16,979 | (796,339) | nm | ||||||||||||||||||||||||||||||
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Net income | 38,579 | 45,694 | 45,535 | 29,574 | 724,040 | (94.7) | ||||||||||||||||||||||||||||||
Dividends and accretion of discount on preferred stock | 2,730 | 8,506 | 14,818 | 14,776 | 14,736 | (81.5) | ||||||||||||||||||||||||||||||
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Net income available to common shareholders | $ | 35,849 | 37,188 | 30,717 | 14,798 | 709,304 | (94.9) | |||||||||||||||||||||||||||||
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Net income per common share, basic | 0.04 | 0.04 | 0.04 | 0.02 | 0.90 | (95.9) | ||||||||||||||||||||||||||||||
Net income per common share, diluted | 0.04 | 0.04 | 0.03 | 0.02 | 0.78 | (95.3) | ||||||||||||||||||||||||||||||
Cash dividends declared per common share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | - | ||||||||||||||||||||||||||||||
Return on average assets * | 0.58 | % | 0.69 | % | 0.69 | % | 0.46 | % | 11.13 | (94.8) | ||||||||||||||||||||||||||
Return on average common equity * | 5.04 | 5.40 | 4.70 | 2.30 | 149.46 | (96.6) | ||||||||||||||||||||||||||||||
Weighted average common shares outstanding, basic | 972,279 | 956,694 | 851,093 | 787,043 | 786,576 | 23.6 | % | |||||||||||||||||||||||||||||
Weighted average common shares outstanding, diluted | 975,933 | 959,680 | 910,937 | 910,835 | 911,251 | 7.1 |
nm - not meaningful
* - ratios are annualized
(1) | Consists of loss contingency accruals with respect to outstanding legal matters. Amounts for periods prior to the three months ended December 31, 2013 are not disclosed separately as amounts are not material. |
Synovus
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BALANCE SHEET DATA | December 31, 2013 | September 30, 2013 | December 31, 2012 | |||||||||||
(Unaudited) | ||||||||||||||
(In thousands, except share data) | ||||||||||||||
ASSETS | ||||||||||||||
Cash and cash equivalents | $ | 469,630 | 514,694 | 614,630 | ||||||||||
Interest bearing funds with Federal Reserve Bank | 644,528 | 966,435 | 1,498,390 | |||||||||||
Interest earning deposits with banks | 24,325 | 14,060 | 23,442 | |||||||||||
Federal funds sold and securities purchased under resale agreements | 80,975 | 80,177 | 113,517 | |||||||||||
Trading account assets, at fair value | 6,113 | 17,363 | 11,102 | |||||||||||
Mortgage loans held for sale, at fair value | 45,384 | 61,232 | 212,663 | |||||||||||
Other loans held for sale | 10,685 | 9,351 | 10,690 | |||||||||||
Investment securities available for sale, at fair value | 3,199,358 | 3,151,344 | 2,981,112 | |||||||||||
Loans, net of deferred fees and costs | 20,057,798 | 19,711,610 | 19,541,690 | |||||||||||
Allowance for loan losses | (307,560) | (318,612) | (373,405) | |||||||||||
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| |||||||||
Loans, net | 19,750,238 | 19,392,998 | 19,168,285 | |||||||||||
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| |||||||||
Premises and equipment, net | 468,871 | 476,088 | 479,546 | |||||||||||
Goodwill | 24,431 | 24,431 | 24,431 | |||||||||||
Other intangible assets, net | 3,415 | 3,783 | 5,149 | |||||||||||
Other real estate | 112,629 | 126,640 | 150,271 | |||||||||||
Deferred tax asset, net | 744,646 | 763,050 | 806,406 | |||||||||||
Other assets | 616,376 | 616,714 | 660,378 | |||||||||||
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Total assets | $ | 26,201,604 | 26,218,360 | 26,760,012 | ||||||||||
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LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||
Liabilities: | ||||||||||||||
Deposits: | ||||||||||||||
Non-interest bearing deposits | $ | 5,642,751 | 5,358,659 | 5,665,527 | ||||||||||
Interest bearing deposits, excluding brokered deposits | 14,140,037 | 14,339,997 | 14,298,768 | |||||||||||
Brokered deposits | 1,094,002 | 1,275,200 | 1,092,749 | |||||||||||
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| |||||||||
Total deposits | 20,876,790 | 20,973,856 | 21,057,044 | |||||||||||
Federal funds purchased, securities sold under repurchase agreements, and other short-term liabilities | 148,132 | 194,613 | 201,243 | |||||||||||
Long-term debt | 2,033,141 | 1,885,057 | 1,726,455 | |||||||||||
Other liabilities | 194,556 | 232,974 | 205,839 | |||||||||||
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| |||||||||
Total liabilities | 23,252,619 | 23,286,500 | 23,190,581 | |||||||||||
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Shareholders’ equity: | ||||||||||||||
Series A Preferred Stock - no par value, 967,870 shares outstanding at December 31, 2012 | - | - | 957,327 | |||||||||||
Series C Preferred Stock - no par value, 5,200,000 shares outstanding at December 31, 2013 and September 30, 2013 | 125,862 | 125,400 | - | |||||||||||
Common stock - $1.00 par value. 972,351,457 shares outstanding at December 31, 2013, 972,230,238 shares outstanding at September 30, 2013, and 786,579,240 shares outstanding at December 31, 2012 | 978,045 | 977,924 | 792,273 | |||||||||||
Additional paid-in capital | 2,138,024 | 2,138,593 | 2,189,874 | |||||||||||
Treasury stock, at cost - 5,693,452 shares | (114,176) | (114,176) | (114,176) | |||||||||||
Accumulated other comprehensive (loss) income | (41,258) | (29,514) | 4,101 | |||||||||||
Accumulated deficit | (137,512) | (166,367) | (259,968) | |||||||||||
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Total shareholders’ equity | 2,948,985 | 2,931,860 | 3,569,431 | |||||||||||
Total liabilities and shareholders’ equity | $ | 26,201,604 | 26,218,360 | 26,760,012 | ||||||||||
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Synovus
AVERAGE BALANCES AND YIELDS/RATES (1) | ||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||
2013
| 2012 | |||||||||||||||||||||
Fourth
| Third Quarter | Second Quarter | First Quarter | Fourth Quarter | ||||||||||||||||||
Interest Earning Assets | ||||||||||||||||||||||
Taxable investment securities (2) | $ | 3,196,561 | 3,062,976 | 3,034,152 | 2,984,129 | 3,069,000 | ||||||||||||||||
Yield
| 1.94 | % | 1.79 | 1.70 | 1.42 | 1.62 | ||||||||||||||||
Tax-exempt investment securities (2) (4) | $ | 7,758 | 9,835 | 11,435 | 14,362 | 17,377 | ||||||||||||||||
Yield (taxable equivalent)
| 6.14 | % | 6.26 | 6.47 | 6.34 | 6.59 | ||||||||||||||||
Trading account assets | $ | 10,021 | 13,806 | 7,847 | 8,629 | 9,600 | ||||||||||||||||
Yield
| 4.60 | % | 4.50 | 6.34 | 7.12 | 8.04 | ||||||||||||||||
Commercial loans (3) (4) | $ | 16,217,373 | 16,067,424 | 16,075,832 | 16,000,000 | 16,171,318 | ||||||||||||||||
Yield
| 4.28 | % | 4.37 | 4.39 | 4.48 | 4.50 | ||||||||||||||||
Consumer loans (3) | $ | 3,615,836 | 3,528,057 | 3,454,874 | 3,461,622 | 3,514,256 | ||||||||||||||||
Yield
| 4.50 | % | 4.61 | 4.62 | 4.68 | 4.70 | ||||||||||||||||
Allowance for loan losses
| $ | (316,001) | (328,084) | (351,075) | (372,239) | (405,237) | ||||||||||||||||
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| |||||||||||||||||||||
Loans, net (3) | $ | 19,517,208 | 19,267,397 | 19,179,631 | 19,089,383 | 19,280,337 | ||||||||||||||||
Yield
| 4.40 | % | 4.50 | 4.52 | 4.54 | 4.65 | ||||||||||||||||
Mortgage loans held for sale | $ | 46,036 | 85,493 | 129,742 | 179,507 | 208,839 | ||||||||||||||||
Yield
| 3.94 | % | 4.07 | 4.35 | 3.80 | 3.72 | ||||||||||||||||
Federal funds sold, due from Federal Reserve Bank, and other short-term investments | $ | 1,235,144 | 1,375,921 | 1,550,113 | 1,343,652 | 1,366,422 | ||||||||||||||||
Yield
| 0.24 | % | 0.24 | 0.24 | 0.24 | 0.24 | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock (5) | $ | 70,815 | 70,741 | 65,014 | 65,330 | 66,630 | ||||||||||||||||
Yield
| 2.85 | % | 2.30 | 2.35 | 2.36 | 2.03 | ||||||||||||||||
Total interest earning assets | $ | 24,083,543 | 23,886,169 | 23,977,934 | 23,684,992 | 24,018,205 | ||||||||||||||||
Yield
| 3.85 | % | 3.89 | 3.88 | 3.95 | 3.99 | ||||||||||||||||
Interest Bearing Liabilities | ||||||||||||||||||||||
Interest bearing demand deposits | $ | 4,102,398 | 3,933,902 | 3,895,675 | 3,839,707 | 3,872,025 | ||||||||||||||||
Rate
| 0.19 | % | 0.23 | 0.18 | 0.18 | 0.18 | ||||||||||||||||
Money market accounts | $ | 6,161,893 | 6,148,289 | 6,072,155 | 6,135,649 | 6,251,374 | ||||||||||||||||
Rate
| 0.33 | % | 0.33 | 0.33 | 0.33 | 0.33 | ||||||||||||||||
Savings deposits | $ | 605,054 | 607,144 | 609,832 | 581,792 | 558,726 | ||||||||||||||||
Rate
| 0.10 | % | 0.11 | 0.11 | 0.11 | 0.10 | ||||||||||||||||
Time deposits under $100,000 | $ | 1,491,673 | 1,526,974 | 1,537,639 | 1,581,092 | 1,648,554 | ||||||||||||||||
Rate
| 0.61 | % | 0.62 | 0.64 | 0.69 | 0.74 | ||||||||||||||||
Time deposits over $100,000 | $ | 2,049,094 | 2,022,719 | 1,891,624 | 1,958,870 | 2,015,582 | ||||||||||||||||
Rate
| 0.80 | % | 0.84 | 0.88 | 0.93 | 0.99 | ||||||||||||||||
Brokered money market accounts | $ | 210,380 | 202,802 | 202,532 | 202,734 | 180,216 | ||||||||||||||||
Rate
| 0.27 | % | 0.27 | 0.31 | 0.32 | 0.34 | ||||||||||||||||
Brokered time deposits | $ | 984,047 | 1,130,491 | 1,131,444 | 1,013,461 | 800,434 | ||||||||||||||||
Rate
| 0.65 | % | 0.70 | 0.77 | 0.99 | 1.42 | ||||||||||||||||
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Total interest bearing deposits | $ | 15,604,539 | 15,572,321 | 15,340,901 | 15,313,305 | 15,326,911 | ||||||||||||||||
Rate
| 0.39 | % | 0.42 | 0.42 | 0.44 | 0.47 | ||||||||||||||||
Federal funds purchased and other short-term liabilities | $ | 216,757 | 195,717 | 206,046 | 214,661 | 266,431 | ||||||||||||||||
Rate
| 0.15 | % | 0.14 | 0.15 | 0.17 | 0.17 | ||||||||||||||||
Long-term debt | $ | 1,886,223 | 1,885,385 | 1,762,173 | 1,688,580 | 1,740,588 | ||||||||||||||||
Rate
| 2.85 | % | 2.85 | 3.06 | 3.26 | 3.31 | ||||||||||||||||
Total interest bearing liabilities | $ | 17,707,519 | 17,653,423 | 17,309,120 | 17,216,546 | 17,333,930 | ||||||||||||||||
Rate | 0.65 | % | 0.67 | 0.68 | 0.72 | 0.75 | ||||||||||||||||
Non-interest bearing demand deposits | $ | 5,545,529 | 5,306,447 | 5,327,795 | 5,232,587 | 5,466,312 | ||||||||||||||||
Effective cost of funds | 0.47 | % | 0.49 | 0.49 | 0.52 | 0.54 | ||||||||||||||||
Net interest margin | 3.38 | % | 3.40 | 3.39 | 3.43 | 3.45 | ||||||||||||||||
Taxable equivalent adjustment | $ | 481 | 529 | 557 | 618 | 766 |
(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) |
December 31, 2013 | ||||||||||||||||||||||||||||
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 | $ | 945,014 | 4.7 | % | $ | 788 | 0.2 | % | ||||||||||||||||||||
Hotels | 686,292 | 3.4 | 1,230 | 0.3 | ||||||||||||||||||||||||
Office Buildings | 859,954 | 4.3 | 4,211 | 1.0 | ||||||||||||||||||||||||
Shopping Centers | 846,965 | 4.2 | 11,176 | 2.7 | ||||||||||||||||||||||||
Commercial Development | 155,377 | 0.8 | 35,473 | 8.5 | ||||||||||||||||||||||||
Warehouses | 560,824 | 2.8 | 2,093 | 0.5 | ||||||||||||||||||||||||
Other Investment Property | 512,253 | 2.6 | 11,483 | 2.8 | ||||||||||||||||||||||||
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| |||||||||||||||||||||
Total Investment Properties
| 4,566,679 | 22.8 | 66,454 | 16.1 | ||||||||||||||||||||||||
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|
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1-4 Family Construction | 141,840 | 0.7 | 2,547 | 0.6 | ||||||||||||||||||||||||
1-4 Family Investment Mortgage | 836,265 | 4.2 | 16,752 | 4.0 | ||||||||||||||||||||||||
Residential Development | 185,148 | 0.9 | 14,519 | 3.5 | ||||||||||||||||||||||||
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|
|
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Total 1-4 Family Properties
| 1,163,253 | 5.8 | 33,818 | 8.1 | ||||||||||||||||||||||||
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Land Acquisition
| 707,820 | 3.5 | 154,096 | 37.0 | ||||||||||||||||||||||||
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Total Commercial Real Estate
| 6,437,752 | 32.1 | 254,368 | 61.1 | ||||||||||||||||||||||||
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Commercial, Financial, and Agricultural (2) | 6,185,955 | 30.8 | 65,236 | 15.7 | ||||||||||||||||||||||||
Owner-Occupied Real Estate
| 3,814,720 | 19.0 | 36,980 | 8.9 | ||||||||||||||||||||||||
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Total Commercial & Industrial
| 10,000,675 | 49.9 | 102,216 | 24.6 | ||||||||||||||||||||||||
Home Equity Lines | 1,587,541 | 7.9 | 17,908 | 4.3 | ||||||||||||||||||||||||
Consumer Mortgages | 1,519,068 | 7.6 | 39,770 | 9.6 | ||||||||||||||||||||||||
Credit Cards | 256,846 | 1.3 | - | - | ||||||||||||||||||||||||
Other Retail Loans
| 284,778 | 1.4 | 2,038 | 0.5 | ||||||||||||||||||||||||
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Total Retail
| 3,648,233 | 18.1 | 59,716 | 14.3 | ||||||||||||||||||||||||
Unearned Income
| (28,862) | nm | - | nm | ||||||||||||||||||||||||
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Total | $ | 20,057,798 | 100.0 | % | $ | 416,300 | 100.0 | % | ||||||||||||||||||||
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LOANS OUTSTANDING BY TYPE COMPARISON | ||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||
(Dollars in thousands) |
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Loan Type | Total Loans December 31, 2013 | September 30, 2013 | 4Q13 vs. 3Q13 % change (1) | December 31, 2012 | 4Q13 vs. 4Q12 % change | |||||||||||||||||||||||
Multi-Family | $ | 945,014 | 953,631 | (3.6) | 796,110 | 18.7 | % | |||||||||||||||||||||
Hotels | 686,292 | 655,593 | 18.6 | 686,067 | 0.0 | |||||||||||||||||||||||
Office Buildings | 859,954 | 799,613 | 29.9 | 773,881 | 11.1 | |||||||||||||||||||||||
Shopping Centers | 846,965 | 866,460 | (8.9) | 896,869 | (5.6) | |||||||||||||||||||||||
Commercial Development | 155,377 | 167,435 | (28.6) | 226,513 | (31.4) | |||||||||||||||||||||||
Warehouses | 560,824 | 552,378 | 6.1 | 538,157 | 4.2 | |||||||||||||||||||||||
Other Investment Property
| 512,253 | 521,576 | (7.1) | 498,884 | 2.7 | |||||||||||||||||||||||
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| |||||||||||||||||||
Total Investment Properties
| 4,566,679 | 4,516,686 | 4.4 | 4,416,481 | 3.4 | |||||||||||||||||||||||
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1-4 Family Construction | 141,840 | 138,719 | 8.9 | 137,778 | 2.9 | |||||||||||||||||||||||
1-4 Family Investment Mortgage | 836,265 | 853,060 | (7.8) | 865,801 | (3.4) | |||||||||||||||||||||||
Residential Development | 185,148 | 196,051 | (22.1) | 282,463 | (34.5) | |||||||||||||||||||||||
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Total 1-4 Family Properties
| 1,163,253 | 1,187,830 | (8.2) | 1,286,042 | (9.5) | |||||||||||||||||||||||
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Land Acquisition
| 707,820 | 731,278 | (12.7) | 795,341 | (11.0) | |||||||||||||||||||||||
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Total Commercial Real Estate
| 6,437,752 | 6,435,794 | 0.1 | 6,497,864 | (0.9) | |||||||||||||||||||||||
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Commercial, Financial, and Agricultural (2) | 6,185,955 | 5,971,069 | 14.3 | 5,291,078 | 16.9 | |||||||||||||||||||||||
Owner-Occupied Real Estate
| 3,814,720 | 3,757,080 | 6.1 | 4,278,373 | (10.8) | |||||||||||||||||||||||
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Total Commercial & Industrial
| 10,000,675 | 9,728,149 | 11.1 | 9,569,451 | 4.5 | |||||||||||||||||||||||
Home Equity Lines | 1,587,541 | 1,549,582 | 9.7 | 1,542,397 | 2.9 | |||||||||||||||||||||||
Consumer Mortgages | 1,519,068 | 1,482,860 | 9.7 | 1,411,561 | 7.6 | |||||||||||||||||||||||
Credit Cards | 256,846 | 253,805 | 4.8 | 263,561 | (2.5) | |||||||||||||||||||||||
Other Retail Loans
| 284,778 | 286,422 | (2.3) | 277,229 | 2.7 | |||||||||||||||||||||||
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Total Retail
| 3,648,233 | 3,572,669 | 8.4 | 3,494,748 | 4.4 | |||||||||||||||||||||||
Unearned Income
| (28,862) | (25,002) | 61.3 | (20,373) | 41.7 | |||||||||||||||||||||||
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Total | $ | 20,057,798 | 19,711,610 | 7.0 | % | 19,541,690 | 2.6 | % | ||||||||||||||||||||
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(1) Percentage change is annualized.
(2) Small Business loans are reported within Commercial, Financial and Agricultural loans.
Synovus
CREDIT QUALITY DATA | ||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 4th Quarter | |||||||||||||||||||||||||||||
Fourth Quarter | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | ‘13 vs. ‘12 Change | |||||||||||||||||||||||||||
Non-performing Loans | $ | 416,300 | 450,879 | 483,464 | 513,227 | 543,333 | (23.4) % | |||||||||||||||||||||||||
Other Loans Held for Sale (1) | 10,685 | 9,351 | 12,083 | 9,129 | 9,455 | 13.0 | ||||||||||||||||||||||||||
Other Real Estate | 112,629 | 126,640 | 139,653 | 155,237 | 150,271 | (25.0) | ||||||||||||||||||||||||||
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Non-performing Assets | 539,614 | 586,870 | 635,200 | 677,592 | 703,059 | (23.2) | ||||||||||||||||||||||||||
Allowance for Loan Losses | 307,560 | 318,612 | 334,880 | 351,772 | 373,405 | (17.6) | ||||||||||||||||||||||||||
Net Charge-Offs - Quarter | 25,116 | 23,030 | 29,969 | 57,328 | 193,525 | (87.0) | ||||||||||||||||||||||||||
Net Charge-Offs / Average Loans - Quarter (2) | 0.51 | % | 0.47 | 0.61 | 1.18 | 3.94 | ||||||||||||||||||||||||||
Non-performing Loans / Loans | 2.08 | 2.29 | 2.47 | 2.65 | 2.78 | |||||||||||||||||||||||||||
Non-performing Assets / Loans, Other Loans Held for Sale & ORE | 2.67 | 2.96 | 3.21 | 3.47 | 3.57 | |||||||||||||||||||||||||||
Allowance / Loans | 1.53 | 1.62 | 1.71 | 1.82 | 1.91 | |||||||||||||||||||||||||||
Allowance / Non-performing Loans | 73.88 | 70.66 | 69.27 | 68.54 | 68.72 | |||||||||||||||||||||||||||
Allowance / Non-performing Loans (3) | 95.43 | 91.84 | 91.76 | 97.75 | 93.49 | |||||||||||||||||||||||||||
Past Due Loans over 90 days and Still Accruing | $ | 4,489 | 4,738 | 4,596 | 5,799 | 6,811 | (34.1) % | |||||||||||||||||||||||||
As a Percentage of Loans Outstanding | 0.02 | % | 0.02 | 0.02 | 0.03 | 0.03 | ||||||||||||||||||||||||||
Total Past Dues Loans and Still Accruing | $ | 72,600 | 78,906 | 80,678 | 88,330 | 104,825 | (30.7) | |||||||||||||||||||||||||
As a Percentage of Loans Outstanding | 0.36 | % | 0.40 | 0.41 | 0.46 | 0.54 | ||||||||||||||||||||||||||
Accruing troubled debt restructurings (TDRs) | $ | 556,410 | 574,236 | 635,125 | 623,900 | 673,383 | (17.4) | |||||||||||||||||||||||||
(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. |
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(2) Ratio is annualized. |
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(3) Excludes non-performing loans for which the expected loss has been charged off.
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SELECTED CAPITAL INFORMATION (1) | ||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||
(Dollars in thousands) |
|
| ||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Tier 1 Capital | $ | 2,351,493 | 2,832,244 | |||||||||||||||||||||||||||||
Total Risk-Based Capital | 2,900,823 | 3,460,998 | ||||||||||||||||||||||||||||||
Tier 1 Capital Ratio | 10.54 | % | 13.24 | |||||||||||||||||||||||||||||
Tier 1 Common Equity Ratio | 9.93 | 8.72 | ||||||||||||||||||||||||||||||
Total Risk-Based Capital Ratio | 13.00 | 16.18 | ||||||||||||||||||||||||||||||
Tier 1 Leverage Ratio | 9.13 | 11.00 | ||||||||||||||||||||||||||||||
Common Equity as a Percentage of Total Assets (2) | 10.77 | 9.76 | ||||||||||||||||||||||||||||||
Tangible Common Equity as a Percentage of Tangible Assets (3) | 10.68 | 9.66 | ||||||||||||||||||||||||||||||
Tangible Common Equity as a Percentage of Risk Weighted Assets (3) | 12.53 | 12.07 | ||||||||||||||||||||||||||||||
Book Value Per Common Share (4) | 2.90 | 2.99 | ||||||||||||||||||||||||||||||
Tangible Book Value Per Common Share (3) | 2.87 | 2.95 | ||||||||||||||||||||||||||||||
(1) Current quarter regulatory capital information is preliminary. |
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(2) Common equity consists of Total Shareholders’ Equity less Preferred Stock. |
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(3) Excludes the carrying value of goodwill and other intangible assets from common equity and total assets. |
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(4) Book Value Per Common Share consists of Total Shareholders’ Equity less Preferred Stock divided by total common shares outstanding. |
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