Synovus Financial (SNV) S-3ASR Automatic shelf registration

Exhibit 12.1

Synovus Financial Corp.

Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(in thousands)

	Six Months Ended		Year Ended December 31,
	2016		2015		2014		2013		2012		2011
Ratio 1—Including Interest on Deposits
Earnings:
Income from continuing operations before income taxes		177,761		358,573		302,559		252,628		31,477		(59,532	)
Fixed charges		65,705		126,355		117,001		126,379		158,225		225,938
Total		243,467		484,929		419,560		379,006		189,702		166,407
Fixed Charges:
Interest on deposits		32,214		65,534		55,179		64,392		95,749		173,885
Interest on short-term borrowings		96		168		220		324		614		1,063
Interest on long-term debt		29,763		52,942		54,009		54,106		53,659		42,654
Portion of rents representative of the interest factor (1/3) of rental expense
		3,632		7,711		7,593		7,557		8,202		8,337
Total fixed charges		65,705		126,355		117,001		126,379		158,225		225,938
Preferred stock dividends and accretion		5,119		10,238		10,238		40,830		58,703		58,088
Total fixed charges and preferred stock dividends		70,824		136,593		127,238		167,209		216,928		284,026
Ratio of Earnings to Fixed Charges		3.71x		3.84x		3.59x		3.00x		1.20x		0.74x
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends		3.44x		3.55x		3.30x		2.27x		0.87x		0.59x
Ratio 2—Excluding Interest on Deposits
Earnings:
Income from continuing operations before income taxes		177,761		358,573		302,559		252,628		31,477		(59,532	)
Fixed charges		33,491		60,821		61,822		61,987		62,475		52,053
Total		211,253		419,394		364,381		314,614		93,953		(7,478	)
Fixed Charges:
Interest on short-term borrowings		96		168		220		324		614		1,063
Interest on long-term debt		29,763		52,942		54,009		54,106		53,659		42,654
Portion of rents representative of the interest factor (1/3) of rental expense
		3,632		7,711		7,593		7,557		8,202		8,337
Total fixed charges		33,491		60,821		61,822		61,987		62,475		52,053
Preferred stock dividends and accretion		5,119		10,238		10,238		40,830		58,703		58,088
Total fixed charges and preferred stock dividends		38,610		71,059		72,059		102,817		121,179		110,142
Ratio of Earnings to Fixed Charges		6.31x		6.90x		5.89x		5.08x		1.50x		(0.14x	)
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends		5.47x		5.90x		5.06x		3.06x		0.78x		(0.07x	)