SYNOVUS FINANCIAL CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
EX-99.3 - EXHIBIT 99.3 - SYNOVUS FINANCIAL CORP	synovusq42019earningsdec.htm
EX-99.1 - EXHIBIT 99.1 - SYNOVUS FINANCIAL CORP	snvexhibit991123120198.htm
8-K - 8-K - SYNOVUS FINANCIAL CORP	snv123120198kcoverpage.htm



Synovus								Exhibit 99.2

	INCOME STATEMENT DATA
	(Unaudited)	Years Ended
	(Dollars in thousands, except per share data)	December 31,


		2019			2018			% Change


	Interest income	$	2,050,638		$	1,344,305		52.5	%
	Interest expense	454,835			195,892			132.2


	Net interest income	1,595,803			1,148,413			39.0
	Provision for loan losses	87,720			51,697			69.7

	Net interest income after provision for loan losses	1,508,083			1,096,716			37.5


	Non-interest income:
	Service charges on deposit accounts	88,190			80,840			9.1
	Fiduciary and asset management fees	58,388			54,685			6.8
	Card fees	45,659			42,503			7.4
	Brokerage revenue	41,608			35,366			17.6
	Mortgage banking income	32,599			18,958			72.0
	Capital markets income	30,529			5,803			426.1
	Income from bank-owned life insurance	21,226			15,403			37.8
	Investment securities losses, net	(7,659		)	(1,296		)	nm
	Gain on sale and fair value increase/(decrease) of private equity investments	11,607			(4,743		)	nm
	Other non-interest income	33,753			32,574			3.6

	Total non-interest income	355,900			280,093			27.1



	Non-interest expense:
	Salaries and other personnel expense	570,036			453,420			25.7
	Net occupancy and equipment expense	161,906			130,482			24.1
	Third-party processing and other services	75,696			58,625			29.1
	Professional fees	35,300			26,737			32.0
	FDIC insurance and other regulatory fees	31,696			24,494			29.4
	Advertising expense	21,371			20,881			2.3
	Amortization of intangibles	11,603			1,167			894.3
	Merger-related expense	56,580			10,065			nm
	Earnout liability adjustments	10,457			11,652			nm
	Loss on early extinguishment of debt, net	4,592			—			nm
	Valuation adjustment to Visa derivative	3,611			2,328			nm
	Litigation settlement/contingency expense	—			(4,026		)	nm
	Restructuring charges, net	1,230			(51		)	nm
	Other operating expenses	114,890			93,681			22.6

	Total non-interest expense	1,098,968			829,455			32.5



	Income before income taxes	765,015			547,354			39.8
	Income tax expense	201,235			118,878			69.3

	Net income	563,780			428,476			31.6

	Less: Preferred stock dividends and redemption charge	22,881			17,998			27.1

	Net income available to common shareholders	$	540,899		$	410,478		31.8	%

	Net income per common share, basic	3.50			3.49			0.4	%

	Net income per common share, diluted	3.47			3.47			—

	Cash dividends declared per common share	1.20			1.00			20.0

	Return on average assets*	1.20		%	1.35		%	(15	)bps
	Return on average common equity*	12.34			14.55			(221	)

	Weighted average common shares outstanding, basic	154,331			117,644			31.2	%
	Weighted average common shares outstanding, diluted	156,058			118,378			31.8

	nm - not meaningful
	bps - basis points
	* - ratios are annualized



Synovus

	INCOME STATEMENT DATA
	(Unaudited)

	(Dollars in thousands, except per share data)	2019								2018		Fourth Quarter

		Fourth Quarter			Third Quarter		Second Quarter		First Quarter	Fourth Quarter		'19 vs '18
		Fourth Quarter			Third Quarter		Second Quarter		First Quarter	Fourth Quarter		% Change

	Interest income	$	506,253		523,415		516,131		504,839	357,394		41.7	%
	Interest expense	106,985			121,318		118,869		107,664	59,461		79.9


	Net interest income	399,268			402,097		397,262		397,175	297,933		34.0
	Provision for loan losses	24,470			27,562		12,119		23,569	12,148		101.4

	Net interest income after provision for loan losses	374,798			374,535		385,143		373,606	285,785		31.1


	Non-interest income:
	Service charges on deposit accounts	22,385			22,952		21,994		20,859	20,320		10.2
	Fiduciary and asset management fees	15,645			14,686		14,478		13,578	13,805		13.3
	Card fees	11,325			12,297		11,161		10,877	10,862		4.3
	Brokerage revenue	11,106			11,071		10,052		9,379	9,241		20.2
	Mortgage banking income	9,287			10,351		7,907		5,054	3,781		145.6
	Capital markets income	8,972			7,396		8,916		5,245	1,977		353.8
	Income from bank-owned life insurance	5,620			5,139		5,176		5,290	3,682		52.6
	Investment securities (losses)/gains, net	(2,157		)	(3,731	)	(1,845	)	75	—		nm
	Gain on sale and fair value increase/(decrease) of private equity investments	8,100			1,194		1,455		858	(2,084	)	nm
	Other non-interest income	7,672			7,405		10,513		8,163	6,407		19.7

	Total non-interest income	97,955			88,760		89,807		79,378	67,991		44.1



	Non-interest expense:
	Salaries and other personnel expense	145,084			142,516		143,009		139,427	113,496		27.8
	Net occupancy and equipment expense	42,644			41,017		39,851		38,394	34,260		24.5
	Third-party processing and other services	20,293			18,528		19,118		17,758	14,803		37.1
	Professional Fees	9,921			9,719		9,312		6,348	8,650		14.7
	FDIC insurance and other regulatory fees	9,825			7,242		7,867		6,761	4,728		107.8
	Advertising expense	4,375			5,950		5,923		5,123	6,834		(36.0	)
	Amortization of intangibles	2,901			2,901		2,410		3,392	292		893.5
	Merger-related expense	(913		)	353		7,401		49,738	3,381		nm
	Earnout liability adjustments	—			10,457		—		—	—		nm
	Loss on early extinguishment of debt, net	—			4,592		—		—	—		nm
	Valuation adjustment to Visa derivative	1,111			2,500		—		—	—		nm
	Restructuring charges, net	1,259			(66	)	18		19	140		nm
	Other operating expenses	29,621			30,601		29,217		25,450	23,338		26.9

	Total non-interest expense	266,121			276,310		264,126		292,410	209,922		26.8



	Income before income taxes	206,632			186,985		210,824		160,574	143,854		43.6
	Income tax expense	54,948			51,259		54,640		40,388	38,784		41.7

	Net income	151,684			135,726		156,184		120,186	105,070		44.4

	Less: Preferred stock dividends	8,291			8,291		3,150		3,150	3,151		163.1

	Net income available to common shareholders	$	143,393		127,435		153,034		117,036	101,919		40.7

	Net income per common share, basic	$	0.98		0.84		0.97		0.73	0.88		11.4	%

	Net income per common share, diluted	0.97			0.83		0.96		0.72	0.87		10.8

	Cash dividends declared per common share	0.30			0.30		0.30		0.30	0.25		20.0

	Return on average assets *	1.27		%	1.14		1.34		1.06	1.29		(2	)bps
	Return on average common equity *	13.08			11.36		13.90		10.98	14.25		(117	)

	Weighted average common shares outstanding, basic	146,948			152,238		157,389		160,927	116,303		26.3	%
	Weighted average common shares outstanding, diluted	148,529			154,043		159,077		162,760	116,986		27.0

	nm - not meaningful
	bps - basis points
	* - ratios are annualized



Synovus


	BALANCE SHEET DATA	December 31, 2019			September 30, 2019			December 31, 2018

	(Unaudited)

	(In thousands, except share data)

	ASSETS
	Cash and due from banks	$	535,846		$	611,496		$	468,426
	Interest-bearing funds with Federal Reserve Bank	553,390			480,913			641,476
	Interest earning deposits with banks	20,635			20,086			19,841
	Federal funds sold and securities purchased under resale agreements	77,047			69,975			13,821
	Cash and cash equivalents	1,186,918			1,182,470			1,143,564

	Investment securities available for sale, at fair value	6,778,670			6,892,162			3,991,632
	Mortgage loans held for sale, at fair value	115,173			129,415			37,129

	Loans	37,162,450			36,417,826			25,946,573
	Allowance for loan losses	(281,402		)	(265,013		)	(250,555		)
	Loans, net	36,881,048			36,152,813			25,696,018

	Cash surrender value of bank-owned life insurance	775,665			771,458			554,134
	Premises and equipment, net	493,940			487,053			434,307
	Goodwill	497,267			487,865			57,315
	Other intangible assets	55,671			58,572			9,875
	Other assets	1,418,930			1,499,374			745,218
	Total assets	$	48,203,282		$	47,661,182		$	32,669,192

	LIABILITIES AND SHAREHOLDERS' EQUITY
	Liabilities:
	Deposits:
	Non-interest-bearing deposits	$	9,439,485		$	9,586,148		$	7,650,967
	Interest-bearing deposits	28,966,019			27,846,922			19,069,355

	Total deposits	38,405,504			37,433,070			26,720,322

	Federal funds purchased and securities sold under repurchase agreements	165,690			197,419			237,692
	Other short-term borrowings	1,753,560			2,233,593			650,000
	Long-term debt	2,153,897			2,153,600			1,657,157
	Other liabilities	782,941			774,662			270,419
	Total liabilities	43,261,592			42,792,344			29,535,590

	Shareholders' equity:
	Preferred Stock – no par value; authorized 100,000,000 shares; 22,000,000 issued and outstanding at December 31, 2019 and September 30, 2019, and 8,000,000 issued and outstanding at December 31, 2018	537,145			536,550			195,140
	Common stock – $1.00 par value. Authorized 342,857,143 shares; 166,800,623 issued at December 31, 2019, 166,201,048 issued at September 30, 2019, and 143,300,449 issued at December 31, 2018; 147,157,596 outstanding at December 31, 2019, 147,594,000 outstanding at September 30, 2019, and 115,865,510 outstanding at December 31, 2018	166,801			166,201			143,300
	Additional paid-in capital	3,819,336			3,801,158			3,060,561
	Treasury stock, at cost – 19,643,027 shares at December 31, 2019, 18,607,048 shares at September 30, 2019, and 27,434,939 shares at December 31, 2018	(715,560		)	(680,081		)	(1,014,746		)
	Accumulated other comprehensive income (loss), net	65,641			75,933			(94,420		)
	Retained earnings	1,068,327			969,077			843,767
	Total shareholders’ equity	4,941,690			4,868,838			3,133,602
	Total liabilities and shareholders' equity	$	48,203,282		$	47,661,182		$	32,669,192



Synovus

	AVERAGE BALANCES AND YIELDS/RATES⁽¹⁾
	(Unaudited)
	(Dollars in thousands)
		2019									2018
		Fourth			Third		Second		First		Fourth
		Quarter			Quarter		Quarter		Quarter		Quarter
	Interest Earning Assets
	Investment securities^{(2) (4)}	$	6,696,768		6,831,036		6,955,386		6,536,199		4,073,685
	Yield	3.12		%	3.14		3.03		3.06		2.45
	Trading account assets ⁽⁵⁾	$	7,986		5,519		4,853		2,049		7,493
	Yield	2.69		%	4.01		1.83		1.30		1.90
	Commercial loans ^{(3) (4)}	$	26,698,202		26,568,194		26,353,973		26,140,672		19,150,252
	Yield	4.82		%	5.09		5.13		5.16		5.13
	Consumer loans ⁽³⁾	$	9,809,832		9,633,603		9,423,427		9,180,679		6,476,026
	Yield	5.07		%	5.08		5.17		5.10		4.85
	Allowance for loan losses	$	(269,052	)	(258,024	)	(259,284	)	(252,815	)	(251,098	)
	Loans, net ⁽³⁾	$	36,238,982		35,943,773		35,518,116		35,068,536		25,375,180
	Yield	4.93		%	5.13		5.17		5.17		5.11
	Mortgage loans held for sale	$	117,909		99,556		70,497		34,913		36,477
	Yield	3.77		%	3.93		4.27		4.48		4.79
	Federal funds sold, due from Federal Reserve Bank, and other short-term investments	$	514,635		513,160		511,488		679,477		641,832
	Yield	1.71		%	2.08		2.37		2.45		2.20
	Federal Home Loan Bank and Federal Reserve Bank Stock ⁽⁵⁾	$	278,586		254,994		234,949		211,408		162,369
	Yield	2.85		%	3.85		3.29		4.82		4.31
	Total interest earning assets	$	43,854,866		43,648,038		43,295,289		42,532,582		30,297,036
	Yield	4.60		%	4.78		4.79		4.80		4.69
	Interest-Bearing Liabilities
	Interest-bearing demand deposits	$	6,381,282		6,138,810		6,335,953		6,393,304		4,692,804
	Rate	0.60		%	0.69		0.71		0.68		0.41
	Money Market accounts	$	10,526,296		10,138,783		10,024,836		10,244,556		8,050,732
	Rate	1.13		%	1.26		1.23		1.18		0.89
	Savings deposits	$	915,640		900,366		904,183		901,059		815,588
	Rate	0.05		%	0.05		0.05		0.06		0.04
	Time deposits under $100,000	$	1,873,350		2,100,492		2,245,878		2,238,568		1,242,811
	Rate	1.27		%	1.39		1.39		1.24		1.16
	Time deposits over $100,000	$	5,198,266		5,957,691		6,331,665		6,211,067		2,478,649
	Rate	1.51		%	1.69		1.70		1.60		1.67
	Non-maturing brokered deposits	$	1,156,131		993,078		766,718		937,629		349,480
	Rate	1.84		%	2.47		2.46		2.60		2.46
	Brokered time deposits	$	2,121,069		2,119,149		1,985,589		1,845,819		1,275,276
	Rate	2.16		%	2.27		2.28		2.13		2.03
	Total interest-bearing deposits	$	28,172,034		28,348,369		28,594,822		28,772,002		18,905,340
	Rate	1.16		%	1.32		1.30		1.24		0.96
	Federal funds purchased and securities sold under repurchase agreements	$	192,731		221,045		300,168		233,076		194,370
	Rate	0.24		%	0.22		0.20		0.22		0.18
	Other short-term borrowings	$	1,565,507		1,307,370		1,090,581		517,456		112,228
	Rate	1.87		%	2.31		2.59		2.58		2.51
	Long-term debt	$	2,153,983		2,286,221		2,114,819		1,983,910		1,657,022
	Rate	3.07		%	3.32		3.53		3.33		3.06
	Total interest-bearing liabilities	$	32,084,255		32,163,005		32,100,390		31,506,444		20,868,960
	Rate	1.30		%	1.47		1.48		1.38		1.12
	Non-interest-bearing demand deposits	$	9,706,784		9,365,776		9,304,839		9,054,949		8,014,761
	Cost of funds	1.02		%	1.16		1.15		1.07		0.81
	Net interest margin	3.65		%	3.69		3.69		3.78		3.92
	Taxable equivalent adjustment	$	769		819		811		630		181

	⁽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 21%, 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 consolidated balance sheet.



Synovus
LOANS OUTSTANDING BY TYPE
(Unaudited)
(Dollars in thousands)
	Total Loans			Total Originated Loans			Total Acquired Loans ⁽¹⁾		Total Loans ⁽¹⁾			Linked Quarter		Total Loans			Year/Year
Loan Type	December 31, 2019			December 31, 2019			December 31, 2019		September 30, 2019			% Change ⁽²⁾		December 31, 2018			% Change
Commercial, Financial, and Agricultural	$	10,252,859		$	8,587,087		$	1,665,772	$	9,846,830		16.4	%	$	7,449,698		37.6	%
Owner-Occupied	6,529,811			5,610,592			919,219		6,571,486			(2.5	)	5,331,508			22.5
Total Commercial & Industrial	16,782,670			14,197,679			2,584,991		16,418,316			8.8		12,781,206			31.3

Multi-Family	2,023,769			1,581,791			441,978		2,098,365			(14.1	)	1,208,033			67.5
Hotels	1,284,291			784,594			499,697		1,267,790			5.2		704,319			82.3
Office Buildings	2,255,308			1,578,445			676,863		2,161,258			17.3		1,451,048			55.4
Shopping Centers	1,762,598			1,017,140			745,458		1,693,985			16.1		808,540			118.0
Warehouses	713,602			610,929			102,673		683,662			17.4		627,353			13.7
Other Investment Property	1,003,111			923,004			80,107		977,253			10.5		761,658			31.7
Total Investment Properties	9,042,679			6,495,903			2,546,776		8,882,313			7.2		5,560,951			62.6

1-4 Family Construction	284,594			173,570			111,024		288,897			(5.9	)	174,259			63.3
1-4 Family Investment Mortgage	495,421			453,612			41,809		516,859			(16.5	)	505,611			(2.0	)
Total 1-4 Family Properties	780,015			627,182			152,833		805,756			(12.7	)	679,870			14.7

Commercial Development	109,862			62,965			46,897		124,213			(45.8	)	60,675			81.1
Residential Development	269,377			182,234			87,143		224,662			79.0		93,166			189.1
Land Acquisition	278,551			216,492			62,059		276,045			3.6		169,829			64.0
Land and Development	657,790			461,691			196,099		624,920			20.9		323,670			103.2

Total Commercial Real Estate	10,480,484			7,584,776			2,895,708		10,312,989			6.4		6,564,491			59.7

Consumer Mortgages	5,546,368			3,629,633			1,916,735		5,470,730			5.5		2,934,235			89.0
Home Equity Lines	1,713,157			1,655,096			58,061		1,675,092			9.0		1,515,796			13.0
Credit Cards	268,841			268,841			—		267,874			1.4		258,245			4.1
Other Consumer Loans	2,396,294			2,387,749			8,545		2,295,486			17.4		1,916,743			25.0
Total Consumer	9,924,660			7,941,319			1,983,341		9,709,182			8.8		6,625,019			49.8

Unearned Income	(25,364		)	(25,364		)	—		(22,661		)	47.3		(24,143		)	5.1

Total	$	37,162,450		$	29,698,410		$	7,464,040	$	36,417,826		8.1	%	$	25,946,573		43.2	%

⁽¹⁾On 1/1/19 $9.29 B of loans (at fair value) were acquired from FCB. The amounts presented in these columns are net of paydowns and payoffs since acquisition date.
⁽²⁾ Percentage change is annualized.

NON-PERFORMING LOANS COMPOSITION ⁽¹⁾
(Unaudited)
(Dollars in thousands)	Total Non-performing Loans			Total Originated Non-performing Loans			Total Acquired Non-performing Loans ⁽²⁾		Total Non-performing Loans ⁽³⁾			Linked Quarter		Total Non-performing Loans			Year/Year



Loan Type	December 31, 2019			December 31, 2019			December 31, 2019		September 30, 2019			% Change		December 31, 2018			% Change
Commercial, Financial, and Agricultural	$	56,186		$	54,483		$	1,703	$	73,672		(23.7	)%	$	69,295		(18.9	)%
Owner-Occupied	9,780			9,780			—		9,222			6.1		8,971			9.0
Total Commercial & Industrial	65,966			64,263			1,703		82,894			(20.4	)	78,266			(15.7	)

Multi-Family	385			—			385		—			nm		237			62.4
Office Buildings	600			542			58		290			106.9		165			263.6
Shopping Centers	718			718			—		140			412.9		89			706.7
Other Investment Property	321			321			—		—			nm		1,890			(83.0	)
Total Investment Properties	2,024			1,581			443		430			370.7		2,381			(15.0	)

1-4 Family Construction	698			698			—		698			—		—			nm
1-4 Family Investment Mortgage	1,555			1,555			—		1,520			2.3		2,381			(34.7	)
Total 1-4 Family Properties	2,253			2,253			—		2,218			1.6		2,381			(5.4	)

Commercial Development	87			87			—		87			—		93			(6.5	)
Residential Development	395			395			—		1,526			(74.1	)	1,444			(72.6	)
Land Acquisition	628			628			—		1,419			(55.7	)	1,416			(55.6	)
Land and Development	1,110			1,110			—		3,032			(63.4	)	2,953			(62.4	)

Total Commercial Real Estate	5,387			4,944			443		5,680			(5.2	)	7,715			(30.2	)

Consumer Mortgages	12,545			11,808			737		10,015			25.3		4,949			153.5
Home Equity Lines	12,034			12,034			—		12,590			(4.4	)	12,114			(0.7	)
Other Consumer Loans	5,704			5,704			—		4,736			20.4		3,689			54.6
Total Consumer	30,283			29,546			737		27,341			10.8		20,752			45.9

Total	$	101,636		$	98,753		$	2,883	$	115,915		(12.3	)%	$	106,733		(4.8	)%

(1) For purposes of this table, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income.
(2) Represents loans acquired from FCB and designated as non-accrual, net of payments and dispositions since acquisition date
(3) September 30, 2019 total non-performing loans included $8.8 million of acquired non-performing loans, net of payments and dispositions since acquisition date.



Synovus

	CREDIT QUALITY DATA
	(Unaudited)
	(Dollars in thousands)	2019						2018	Fourth Quarter

		Fourth			Third	Second	First	Fourth	'19 vs '18
		Quarter			Quarter	Quarter	Quarter	Quarter	% Change

	Non-performing Loans ⁽¹⁾	$	101,636		115,915	124,083	143,976	106,733	(4.8	)%
	Other Real Estate and Other Assets	35,810			35,400	15,479	11,341	7,726	363.5	%

	Non-performing Assets ⁽¹⁾	137,446			151,315	139,562	155,317	114,459	20.1

	Allowance for Loan Losses	281,402			265,013	257,376	257,036	250,555	12.3

	Net Charge-Offs - Quarter	8,821			19,924	11,778	17,088	13,044
	Net Charge-Offs - YTD	57,612			48,791	28,867	17,088	50,410
	Net Charge-Offs / Average Loans - Quarter ⁽²⁾	0.10		%	0.22	0.13	0.19	0.20
	Net Charge-Offs / Average Loans - YTD ⁽²⁾	0.16			0.18	0.16	0.19	0.20

	Non-performing Loans / Loans ⁽¹⁾	0.27			0.32	0.34	0.40	0.41
	Non-performing Assets / Loans, ORE and specific other assets ⁽¹⁾	0.37			0.42	0.39	0.44	0.44
	Allowance / Loans	0.76			0.73	0.71	0.72	0.97

	Allowance / Non-performing Loans ⁽¹⁾	276.87			228.63	207.42	178.53	234.75
	Allowance / Non-performing Loans excluding impaired and acquired loans with no reserve ⁽¹⁾	361.20			363.63	282.51	291.62	297.68

	Past Due Loans over 90 days and Still Accruing ⁽¹⁾	$	15,943		15,660	5,851	4,486	3,798	319.8
	As a Percentage of Loans Outstanding	0.04		%	0.04	0.02	0.01	0.01

	Total Past Due Loans and Still Accruing ⁽¹⁾	$	123,793		88,219	80,792	88,135	56,927	117.5
	As a Percentage of Loans Outstanding	0.33		%	0.24	0.22	0.25	0.22

	Accruing Troubled Debt Restructurings (TDRs)	$	133,145		130,019	126,369	112,205	115,588	15.2


	⁽¹⁾ For purposes of this table, 2019 non-performing loans exclude acquired loans accounted for under ASC 310-30 that are currently accruing income.
	⁽²⁾ Ratio is annualized.



	SELECTED CAPITAL INFORMATION ⁽¹⁾
	(Unaudited)
	(Dollars in thousands)
		December 31, 2019			September 30, 2019	December 31, 2018


	Tier 1 Capital	$	4,280,593		4,196.628	3,090,416
	Total Risk-Based Capital	5,123,371			5,023.138	3,601,376
	Common Equity Tier 1 Capital Ratio	8.95		%	8.96	9.95
	Common Equity Tier 1 Ratio (fully phased-in) ⁽⁵⁾	8.94			8.94	9.92
	Tier 1 Capital Ratio	10.24			10.27	10.61
	Total Risk-Based Capital Ratio	12.25			12.30	12.37
	Tier 1 Leverage Ratio	9.16			9.02	9.60
	Common Equity as a Percentage of Total Assets ⁽²⁾	9.14			9.09	8.99
	Tangible Common Equity Ratio ^{(3) (5)}	8.08			8.04	8.81
	Book Value Per Common Share⁽⁴⁾	$	29.93		29.35	25.36
	Tangible Book Value Per Common Share ⁽³⁾	26.17			25.65	24.78


	⁽¹⁾ Current quarter regulatory capital information is preliminary.
	⁽²⁾ Common equity consists of Total Shareholders' Equity less Preferred 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 Preferred Stock divided by total common shares outstanding.
	⁽⁵⁾ See "Non-GAAP Financial Measures" of this report for applicable reconciliation.

SYNOVUS FINANCIAL CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - January 24, 2020

Attached files

SYNOVUS FINANCIAL CORP Reports