EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
| Six Months Ended June 30, 2013 | Years Ended December 31, | |||||||||||||||||
| (dollars in thousands) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||
| Ratio 1 – Including interest on deposits | ||||||||||||||||||
| Earnings: | ||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 119,459 | 31,477 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | |||||||
| Fixed charges excluding preferred stock dividends and accretion | 63,660 | 158,224 | 226,987 | 342,674 | 506,873 | 787,227 | ||||||||||||
| Total | $ | 183,119 | 189,701 | 167,455 | (506,496 | ) | (1,099,035 | ) | 126,421 | |||||||||
| Fixed charges: | ||||||||||||||||||
| Interest on deposits | 32,610 | 95,749 | 173,885 | 288,327 | 456,247 | 667,453 | ||||||||||||
| Interest on short-term borrowings | 170 | 614 | 1,063 | 1,921 | 3,841 | 38,577 | ||||||||||||
| Interest on long-term debt | 27,232 | 53,659 | 42,654 | 44,000 | 38,791 | 73,657 | ||||||||||||
| Portion of rents representative of the interest factor (1/3) of expense | 3,648 | 8,202 | 9,385 | 8,426 | 7,994 | 7,540 | ||||||||||||
| Preferred stock dividends and accretion | 29,594 | 58,704 | 58,088 | 57,510 | 52,395 | 310 | ||||||||||||
| Total fixed charges including preferred stock dividends and accretion | $ | 93,254 | 216,928 | 285,075 | 400,184 | 559,268 | 787,537 | |||||||||||
| Ratio of earnings to fixed charges | 1.96x | 0.87x | 0.59x | (1.27x) | (1.97x) | 0.16x | ||||||||||||
| Ratio 2 – Excluding interest on deposits | ||||||||||||||||||
| Earnings: | ||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 119,459 | 31,477 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | |||||||
| Fixed charges excluding preferred stock dividends and accretion | 31,050 | 62,475 | 53,102 | 54,347 | 50,626 | 119,774 | ||||||||||||
| Total | $ | 150,509 | 93,952 | (6,430 | ) | (794,823 | ) | (1,555,282 | ) | (541,032 | ) | |||||||
| Fixed charges: | ||||||||||||||||||
| Interest on short-term borrowings | 170 | 614 | 1,063 | 1,921 | 3,841 | 38,577 | ||||||||||||
| Interest on long-term debt | 27,232 | 53,659 | 42,654 | 44,000 | 38,791 | 73,657 | ||||||||||||
| Portion of rents representative of the interest factor (1/3) of expense | 3,648 | 8,202 | 9,385 | 8,426 | 7,994 | 7,540 | ||||||||||||
| Preferred stock dividends and accretion | 29,594 | 58,704 | 58,088 | 57,510 | 52,395 | 310 | ||||||||||||
| Total fixed charges including preferred stock dividends and accretion | $ | 60,644 | 121,179 | 111,190 | 111,857 | 103,021 | 120,084 | |||||||||||
| Ratio of earnings to fixed charges | 2.48x | 0.78x | (0.06x) | (7.11x) | (15.10x) | (4.51x) | ||||||||||||