EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31, 2012 | Years Ended December 31, | ||||||||||||||||
(dollars in thousands) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||
Ratio 1 – Including Interest on Deposits | |||||||||||||||||
Earnings: | |||||||||||||||||
(Loss) income from continuing operations before income taxes | 35,915 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | |||||||
Fixed charges | 43,780 | 226,987 | 342,674 | 506,873 | 787,227 | 1,095,972 | |||||||||||
Total | 79,695 | 167,455 | (506,496 | ) | (1,099,035 | ) | 126,421 | 1,616,007 | |||||||||
Fixed Charges: | |||||||||||||||||
Interest on deposits | 30,487 | 173,885 | 288,327 | 456,247 | 667,453 | 912,472 | |||||||||||
Interest on short-term borrowings | 180 | 1,063 | 1,921 | 3,841 | 38,577 | 92,970 | |||||||||||
Interest on long-term debt | 11,028 | 42,654 | 44,000 | 38,791 | 73,657 | 84,014 | |||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 2,085 | 9,385 | 8,426 | 7,994 | 7,540 | 6,516 | |||||||||||
Total fixed charges | 43,780 | 226,987 | 342,674 | 506,873 | 787,227 | 1,095,972 | |||||||||||
Ratio of earnings to fixed charges | 1.82x | 0.74x | (1.48x) | (2.17x) | 0.16x | 1.47x | |||||||||||
Ratio 1 – Excluding Interest on Deposits | |||||||||||||||||
Earnings: | |||||||||||||||||
(Loss) income from continuing operations before income taxes | 35,915 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | |||||||
Fixed charges | 13,293 | 53,102 | 54,347 | 50,626 | 119,774 | 183,500 | |||||||||||
Total | 49,208 | (6,430 | ) | (794,823 | ) | (1,555,282 | ) | (541,032 | ) | 703,535 | |||||||
Fixed Charges: | |||||||||||||||||
Interest on short-term borrowings | 180 | 1,063 | 1,921 | 3,841 | 38,577 | 92,970 | |||||||||||
Interest on long-term debt | 11,028 | 42,654 | 44,000 | 38,791 | 73,657 | 84,014 | |||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 2,085 | 9,385 | 8,426 | 7,994 | 7,540 | 6,516 | |||||||||||
Total fixed charges | 13,293 | 53,102 | 54,347 | 50,626 | 119,774 | 183,500 | |||||||||||
Ratio of earnings to fixed charges | 3.70x | (0.12x) | (14.62x) | (30.72x) | (4.52x) | 3.83x |