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SYNOVUS FINANCIAL CORP. REPORTS SECOND QUARTER NET INCOME INCREASE OF 28.5 PERCENT

 SYNOVUS FINANCIAL CORP. REPORTS
 SECOND QUARTER NET INCOME INCREASE OF 28.5 PERCENT
 COLUMBUS, Ga., July 7 /PRNewswire/ -- Synovus Financial Corp. (NYSE: SNV), the Columbus, Ga.-based multi-financial services company, today announced record second quarter earnings for 1992.
 Net income for the quarter amounted to $12,698,000 up 28.5 percent over net income of $9,879,000 for the second quarter of 1991. On a per share basis, net income was $.34, compared to $.28 for the second quarter of 1991. Return on assets for the quarter was 1.24 percent, return on equity was 16.62 percent and shareholders' equity equaled 7.44 percent of quarter end assets.
 The record second quarter earnings primarily reflects strong fundamental earnings in Synovus' banking operations. Earnings were aided by an improved net interest margin and a broad emphasis throughout the company on profit enhancement resulting in greater fee income and cost savings. Synovus earned 1.24 percent on assets during the quarter compared to 1.14 percent in the first quarter of 1992 and 1.07 percent in the fourth quarter of 1991. The improvement in return on assets reflects the company's efforts to achieve the goal it established a year ago of earning 1.50 percent on assets within three years.
 Asset quality remained very strong during the second quarter. The reserve for loan losses ended the quarter at 1.47 percent of net loans. The nonperforming assets to loans and other real estate ratio was 1.51 percent compared to 1.74 percent at the end of the second quarter of 1991. Nonperforming loans ended the quarter at 0.86 percent of loans which compares to 1.13 percent in the second quarter of 1991. The reserve for loan losses provided a 170 percent coverage of nonperforming loans at quarter end, improving from a year ago when it was 135 percent of loans. Net charge-offs for the quarter were .57 percent of loans compared to .59 percent a year ago. During the quarter, Synovus' provision for loan losses was $5,036,000 compared to $4,176,000 in the second quarter of 1991.
 James H. Blanchard, chairman of the board of Synovus Financial Corp., commented on the company's record performance in the second quarter stating: "We are very pleased with our second quarter performance. Net income was up 28.5 percent in the quarter and 26.0 percent in the first six months and asset quality continues to be very strong with a loan loss reserve covering 170 percent of total nonperforming loans. Our efforts to streamline and improve the operating efficiency of the company continues to produce satisfying results. We are pleased with the improvement we have seen in return on assets over the past three quarters. We are proud of the results our team is producing and fully expect 1992 to be the best year in our history."
 Synovus Financial Corp. is a $4.2 billion asset, multi-financial services company composed of 26 banks, an 81.5 percent ownership of Total System Services, Inc. (NYSE: TSS), a bankcard data processing company, and Synovus Securities, Inc., a full service brokerage firm.
 SYNOVUS FINANCIAL CORP.
 Consolidated Financial Information
 June 30, 1992
 (In thousands, except per-share data)
 BALANCE SHEET
 6/30/92 6/30/91 Pct. chg.
 Total assets $4,206,355 $3,361,776 25.1
 Net loans 2,880,869 2,254,823 27.8
 Total deposits 3,520,852 2,883,628 22.1
 Shareholders' equity 312,838 259,035 20.8
 Book value per share 8.28 7.25
 Equity to assets 7.44 pct. 7.71 pct.
 Loan to deposit ratio 83.05 pct. 79.41 pct.
 INCOME STATEMENT
 (In thousands, except per-share data)
 3 mos. ended 6/30/92 6/30/91 Pct. chg.
 Interest income $ 83,955 $ 76,028 10.4
 Interest expense 41,288 42,710 -3.3
 Net interest income 42,667 33,318 28.1
 Provision for loan losses 5,036 4,176 20.6
 Non-interest income 44,504 39,404 12.9
 Non-interest expense 62,250 53,580 16.2
 Minority interest 741 629 17.8
 Income before taxes 19,144 14,337 33.5
 Income tax expense 6,446 4,458 44.6
 Net income $ 12,698 $ 9,879 28.5
 Net income per share $ .34 $ .28 20.3
 Return on assets 1.24 pct. 1.22 pct.
 Return on equity 16.62 pct. 15.76 pct.
 Net interest margin 4.78 pct. 4.85 pct.
 Net charge-offs 0.57 pct. 0.59 pct.
 Average shares outstanding 37,773 35,341
 6 mos. ended 6/30/92 6/30/91 Pct. chg.
 Interest income $168,610 $149,131 13.1
 Interest expense 85,529 84,003 1.8
 Net interest income 83,081 65,128 27.6
 Provision for loan losses 9,939 7,487 32.8
 Non-interest income 87,764 76,073 15.4
 Non-interest expense 123,273 104,655 17.8
 Minority interest 1,367 1,171 16.7
 Income before taxes 36,266 27,888 30.0
 Income tax expense 11,970 8,610 39.0
 Net income $ 24,296 $ 19,278 26.0
 Net income per share $ .64 $ .55 17.5
 Return on assets 1.19 pct. 1.23 pct.
 Return on equity 16.05 pct. 15.77 pct.
 Net interest margin 4.71 pct. 4.90 pct.
 Net charge-offs 0.54 pct. 0.63 pct.
 Average shares outstanding 37,741 35,208
 Asset Quality 6/30/92 6/30/91
 Nonperforming loans $25,333 $26,015
 Other real estate 18,966 14,090
 Nonperforming assets 44,299 40,105
 Reserve for loan losses 43,128 35,014
 Nonperforming loans 0.86 pct. 1.13 pct.
 Other real estate 0.65 pct. 0.61 pct.
 Nonperforming assets 1.51 pct. 1.74 pct.
 Reserve for loan losses 1.47 pct. 1.53 pct.
 Reserve/nonperf. loans 170.24 pct. 134.59 pct.
 Reserve/nonperf. assets 97.36 pct. 87.31 pct.
 -0- 7/7/92
 /CONTACT: Richard B. Illges, director of investor relations of Synovus, 706-649-5220/
 (SNV TSS) CO: Synovus Financial Corporation ST: Georgia IN: FIN SU: ERN


CF-BR -- AT004 -- 6892 07/07/92 09:29 EDT
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Date:Jul 7, 1992
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