Synovus Financial Corp. Annual Report 1998
Synovus Annual Report 1998 Return to Table of Contents
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1998 financial summary*

year ended December 31 1998 1997 % Change
(Amounts in thousands, except per share data)
 
Net Income $ 187,108 $ 165,236 13.2%
Net Income Per Share-Basic .71 .63 12.2%
Net Income Per Share-Diluted .70 .62 11.8%
Total Assets 10,498,009 9,260,331 13.4%
Loans, Net 7,301,170 6,467,264 12.9%
Total Deposits 8,542,798 7,707,927 10.8%
Shareholders� Equity 1,070,601 903,656 18.5%
Book Value Per Share 3.96 3.44 15.1%
Dividends Declared Per Share .29 .24 22.2%
 
Return on Assets 1.96% 1.87%
Return on Equity 19.18% 19.80%
Equity/Assets 10.20% 9.76%
Net Interest Margin 5.22% 5.26%
Reserve for Loan Losses/Loans 1.50% 1.57%
Nonperforming Assets Ratio .41% .44%
Net Charge-off Ratio .37% .38%

 

team members
as of December 31 1998 1997 % Growth
Banking and other Synovus companies 5,641 4,968 13.5%
TSYS and TSYS Subsidiaries 3,464 3,181 8.9%
Total Team Members 9,105 8,149 11.7%

 

stock information*
as of December 31 1998 1997 % Change
Closing Stock Price $24.00 $21.81 10.0%
Annual Shares Traded (in millions) 60.87 71.81 (15.2%)
Shareholders (of record and beneficial owners) 62,700 56,900 10.2%
Price/Earnings Multiple 34.29 34.65
Price/Book Multiple 6.06 6.35

 

stock ownership summary
1998 1997 1996 1995 1994
Institutional 15.1% 11.5% 10.9% 10.4% 9.2%
Market Value (in billions) $6.49 $5.74 $3.74 $2.20 $1.23
Insider** 21.7% 23.6% 22.1%    

* Adjusted for stock splits
** Includes emeritus directors of Synovus and affiliate companies� directors and executive officers. 1995 and 1994 information not available.

 
Return On Assets Return On Equity Dividends Per Share
       
Closing Stock Price   Total Assets   Loan Loss Reserve and Non-Performing Assets
       
    Net Charge-Off Ratio   Diluted Net Income Per Share

+ As originally reported. 1996 information before special FDIC assessment, 1993 information before extraordinary item. FDIC assessment impact was $2.8 million after tax, resulting in net income of $139.6 million, diluted net income per share of $.53, return on assets of 1.72 percent and return on equity of 19.11 percent.
++ As originally reported. 1996 information before special FDIC assessment, 1993 information before extraordinary item.

analyst coverage
Synovus enjoys a posi tive relationship with the investment community. The following investment and securities firms follow Synovus: Fox-Pitt, Kelton, Inc., New York, New York; Interstate/Johnson Lane Corporation, Charlotte, North Carolina; Keefe, Bruyette & Woods, Inc., New York, New York; Lehman Brothers, New York, New York; Morgan Keegan & Company, Inc., Memphis, Tennessee; Robert W. Baird & Company, Inc., Milwaukee, Wisconsin; The Robinson-Humphrey Company, Inc., Atlanta, Georgia; Salomon Smith Barney, Inc., New York, New York; and Value Line, Inc., New York, New York.

 


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