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Synovus Records Charge in Connection with Visa/American Express Settlement

Columbus, Ga., November 13, 2007 -- On October 3, 2007, Visa Inc. (Visa) announced that it had completed restructuring transactions in preparation for its initial public offering planned for 2008.  On November 7, 2007, Visa announced that it had reached a settlement with American Express involving certain litigation.  The settlement is subject to certain approvals, including approval by at least two-thirds of the Visa USA, Inc. voting members.  Synovus has a membership interest in Visa and Synovus and other member banks have obligations to share in certain losses under various agreements with Visa in connection with this and other litigation in accordance with their proportionate membership interests. As a result of the announced settlement, Synovus has recorded a $12.0 million liability for the litigation settlement and a corresponding pre-tax expense in the third quarter of 2007.  As a result of this action, Synovus’ previously announced net income for the three and nine months ended September 30, 2007, which was included in Synovus’ Form 8-K filed on October 25, 2007, was reduced by $7.1 million, or $0.02 per diluted share.  This information will be reflected in Synovus’ third quarter Quarterly Report on Form 10-Q.  Synovus expects that its proportionate share of the proceeds of the planned Visa initial public offering will offset this liability in future periods.

As a result of the development described above, Synovus now expects 2007 diluted net income per share to be approximately $1.83, based in part on the following assumptions for the year:

·                     Mid single digit loan growth.

·                     Net interest margin of approximately 4.04%.

·                     Net charge-off ratio of approximately 0.34%.

·                     Synovus’ share of the Visa litigation settlement obligation not exceeding $12.0      million.

The aforementioned earnings guidance of approximately $1.83 does not include the expenses associated with the planned TSYS spin-off transaction.

Synovus (NYSE: “SNV”) is a financial services holding company with $34 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 37 banks, 440 ATMs, and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment processing through an 81-percent stake in TSYS (NYSE: “TSS”), one of the world’s largest companies for outsourced payment services.  The company focuses on its unique decentralized customer delivery model, position in high-growth Southeast markets and commitment to being a great place to work to ensure the delivery of unparalleled customer experiences. Synovus has been named one of “The 100 Best Companies to Work For” in America by FORTUNE magazine, and has been recognized in its Hall of Fame for consecutive appearances on the list since its inception in 1998.  See Synovus on the Web at

This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include, among others, statements regarding Synovus’ expectations with respect to its proportionate share of the proceeds of the planned Visa initial public offering, Synovus’ expected diluted net income per share for 2007, and the assumptions underlying such statements, including, with respect to Synovus’ expected diluted net income per share for 2007, mid single digit loan growth, a net interest margin of approximately 4.04%, a net charge-off ratio of approximately 0.34% and Synovus’ share of the Visa litigation settlement obligation not exceeding $12 million.  Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. A number of important factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release.  Many of these factors are beyond Synovus’ ability to control or predict. These factors include, but are not limited to, Visa Inc.’s successful completion of its planned initial public offering; competitive pressures arising from aggressive competition from other financial service providers; factors that affect the delinquency rate on Synovus’ loans and the rate at which Synovus’ loans are charged off; changes in the cost and availability of funding due to changes in the deposit market and credit market, or the way in which Synovus is perceived in such markets; inflation, interest rate, market and monetary fluctuations; the strength of the United States economy in general and the strength of the local economies in which Synovus conducts operations may be different than expected; the timely development of competitive new products and services and the acceptance of such by customers; Synovus’ inability to control expenses; a deterioration in credit quality or a reduced demand for credit; the costs and effects of litigation, regulatory investigations, or similar matters, or adverse facts and developments related thereto, including the FDIC’s investigation of the policies, practices and procedures used by Columbus Bank and Trust Company (a subsidiary of Synovus) in connection with the credit card programs offered pursuant to its Affinity Agreement with CompuCredit Corporation; the impact of the application of and/or changes in accounting principles; the effects of changes in government policy, laws and regulations, or the interpretation or application thereof, including restrictions and/or limitations arising from banking laws, regulations and examinations; changes in consumer spending, borrowing and saving habits; technological changes; and the impact on Synovus’ business, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise.

Patrick A. Reynolds
Title: Director of Investor Relations
Phone: (706) 649-4973