8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

July 20, 2005

Date of Report

(Date of Earliest Event Reported)

Synovus Financial Corp.

(Exact Name of Registrant as Specified in its Charter)

Georgia
(State of Incorporation) 1-10312
(Commission File Number) 58-1134883
(IRS Employer Identification No.)

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 649-2267

(Registrant's telephone number, including area code)

________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01	Entry into a Material Definitive Agreement.
	On July 20, 2005, the Board of Directors of Synovus Financial Corp. (“Registrant”) elected Richard E. Anthony as Chief Executive Officer and President and James H. Blanchard as Chairman of the Board. Mr. Anthony formerly served as President and Chief Operating Officer and Mr. Blanchard formerly served as Chief Executive Officer of Registrant. The plans for these management changes were previously reported in Registrant’s Current Report on Form 8-K dated June 14, 2005. In connection with his election as Chief Executive Officer and President, Registrant’s Compensation Committee increased Mr. Anthony’s annual base salary from $531,000 to $780,000 effective July 20, 2005. The Compensation Committee reduced Mr. Blanchard’s annual base salary from $844,000 to $620,000 effective July 20, 2005 in connection with his election as Chairman of the Board.
Item 2.02	Results of Operations and Financial Condition.
	On July 20, 2005, Registrant issued a press release and will hold an investor call and webcast to disclose financial results for the quarter ended June 30, 2005. The press release and Supplemental Information for use at this investor call are attached hereto as Exhibits 99.1 and 99.2 and incorporated herein by reference. This information shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 or incorporated by reference into any document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934 except as shall be expressly set forth by specific reference in such filing.
Item 5.02	Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. See Item 1.01 above.
Item 7.01	Regulation FD Disclosure. See Item 2.02 above.
Item 9.01	Financial Statements and Exhibits.
	(c)	Exhibits
	Exhibit No.	Description
	99.1	Registrant's press release dated July 20, 2005
	99.2	Supplemental Information prepared for use with the press release

2

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SYNOVUS FINANCIAL CORP. ("Registrant")
Dated: July 20, 2005	By:/s/ Kathleen Moates Kathleen Moates Senior Deputy General Counsel

3

EX-99.1

Exhibit 99.1

For Immediate Release

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

Synovus Reports 22.2% Increase in Net Income for Second Quarter 2005

TSYS’ and Financial Services Segment’s Growth Momentum Continues at Excellent Pace

Columbus, Ga., July 20, 2005 — Synovus’ second quarter earnings grew 22.2% over the second quarter 2004 to $128.5 million, which represented earnings per share growth of 19.9% to $.41 per share, Synovus’ Chief Executive Officer and President Richard E. Anthony announced today.

“The first half of 2005 has confirmed the excellent growth momentum at both TSYS and Synovus’ Financial Services Segment,” said Anthony. “Expanding margin, strong loan growth, and controlled expense growth drove the earnings momentum in the quarter for the Financial Services segment. TSYS’ results were driven by strong growth in its fundamental core business, improved operating leverage and the acquisition of Vital.”

Return on assets for the quarter was 1.98% and return on equity was 18.70% for the second quarter 2005, compared to 1.86% and 17.60%, respectively, in the same period last year. Shareholders’ equity at June 30, 2005, was $2.79 billion, which representeda very strong 10.46% of quarter-end assets. Total assets ended the quarter at $26.7 billion, an increase of 13.4% from the same period last year.

Asset quality remained stable for the first six months of the year. Although the net charge-off ratio was 0.37% compared to 0.23% last quarter and 0.22% for the second quarter of last year, the net charge-off ratio is 0.30% for the first six months of the year. The ratio of nonperforming assets to loans and other real estate was 0.51%, down from 0.52% in both last quarter and the second quarter in 2004. The allowance for loan losses was 1.36% of loans, which provides coverage of 349% of nonperforming loans and the provision for loan losses covered net charge-offs by 1.20x for the quarter.

Net interest income grew 12.3% over last year as total loans grew 13.3%. The net interest margin expanded to 4.15% in the second quarter from 4.11% last quarter. Net interest margin expansion was primarily due to increased yields on the variable rate portion of the loan portfolio, which remains at approximately 65% of total loans.

Net income for the Synovus Financial Services segment increased 15.0% over the second quarter last year. Return on assets for the quarter was 1.41% and return on equity was 17.41%, compared to 1.41% and 17.26%, respectively, in the same period last year. Financial Services’ non-interest income was up 1.6% as compared to last year with increases in mortgage banking revenue of 28.7%, credit card fees of 25.1%, brokerage and investment banking revenue of 12.2%, and fiduciary and asset management fees – which include trust, financial planning and asset management fees – of 6.1%. Service charges on deposit accounts were up 3.9% compared to last quarter and down 9.9% compared to the second quarter last year. Financial Services’ non-interest expense was flat compared to the first quarter of 2005. The efficiency ratio was 49.5% for the quarter compared to 52.2% for the first quarter.

Post Office Box 120 / Columbus, GA 31902

www.synovus.com

Synovus Reports 22.2% Increase in Net Income for Second Quarter/p. 2

TSYS reported net income of $50.6 million for the second quarter 2005 compared to $35.9 million last year, a 41.1% increase. Diluted earnings per share for the quarter increased to $0.26, up from $0.18 last year, a 41.0% increase. As a result of TSYS’ performance in the second quarter, TSYS raised its earnings guidance to 25 – 28% from the previously stated guidance of 22 – 25%. During the quarter, TSYS reached an agreement in principle with Capital One Financial Corporation to provide processing services for its North American portfolio of consumer and small-business credit card accounts, signed Fifth Third Bancorp and successfully converted its Visa and MasterCard consumer-credit portfolio to TS2, and renewed its agreement with Navy Federal Credit Union to continue processing more than 1 million credit card accounts for an additional five years.

Anthony concluded, “As a result of the second quarter performance, we are increasing our expectations of earnings per share growth from 13 – 16 % to 14 – 17%for 2005. Stable credit quality, modest margin expansion, continued strong loan growth, and continuing expense control encourage us to believe the Financial Services segment will continue to perform at the very top of the peer group. Our optimism for TSYS to achieve its 25 – 28% targeted net income growth was heartily reinforced by TSYS’ stellar performance this quarter. For the remainder of 2005, we expect that the economy will continue to expand, short-term interest rates will increase modestly, the credit environment will remain favorable (with a net charge-off ratio around the 0.30% level), and TSYS will perform within its range of guidance. Synovus will continue to focus on growing deposits, managing the loan growth, quality and mix, maintaining a strong margin, expanding fee income and continuing to refine our processes to improve efficiencies. With our very dedicated and highly motivated team members and our strong balance sheet, we believe we are in position to achieve higher earnings performance throughout the year and beyond.”

Synovus will host an earnings highlights conference call at 4:30 pm EDT, on July 20, 2005. Shareholders and other interested persons may listen to this conference call via simultaneous Internet broadcast at www.synovus.com by clicking on the “Conference Calls and Webcasts” button. You may download RealPlayer or Windows Media Player (free download available) prior to accessing the actual call or the replay. The replay will be archived for 12 months and will be available 30-45 minutes after the call.

Synovus (NYSE: “SNV”) is a diversified financial services holding company with over $26 billion in assets based in Columbus, Georgia. Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 41 banks 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. 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. In 2005, Synovus was also named as one of “America’s Most Admired Companies”. See Synovus on the Web at www.synovus.com.

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 TSYS’ expected growth in net income for 2005, Synovus’ expected growth in earnings per share for 2005, Synovus’ belief that the Financial Services segment will perform at the top of its peer group and that Synovus is in a position to achieve higher earnings performance, and the assumptions underlying such statements, including, with respect to Synovus’ expected increase in earnings per share for 2005, the economy will continue to expand; short-term interest rates will increase modestly; the credit environment will remain favorable – with a net charge-off ratio of approximately 0.30%; and TSYS’ net income growth will be in the 25 – 28% range. 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

Post Office Box 120 / Columbus, GA 31902

www.synovus.com

Synovus Reports 22.2% Increase in Net Income for Second Quarter/p. 3

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, 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; TSYS’ net income growth is lower that anticipated; 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, investigations, or similar matters, or adverse facts and developments related thereto; the impact of changes in accounting principles; the effects of changes in government policy and regulations, including restrictions and/or limitations arising from banking laws, regulations and examinations; no material breach of the security of any of our systems; 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.

###

Post Office Box 120 / Columbus, GA 31902

www.synovus.com

EX-99.2

Exhibit 99.2

SYNOVUS					4 of 11
INCOME STATEMENT (In thousands, except per share data)				Six Months Ended June 30,
		2005		2004	Change
Interest Income (Taxable Equivalent)	$	693,692		550,504	26.0	%
Interest Expense		226,554		133,747	69.4
Net Interest Income (Taxable Equivalent)		467,138		416,757	12.1
Tax Equivalent Adjustment		3,211		3,547	(9.4)
Net Interest Income		463,927		413,210	12.3
Provision for Loan Losses		42,106		33,272	26.6
Net Interest Income After Provision		421,821		379,938	11.0
Non-Interest Income:
Electronic Payment Processing Services		420,947		360,315	16.8
Merchant Services		95,801		13,241	nm
Other Transaction Processing Services Revenue		93,838		82,676	13.5
Service Charges on Deposits		55,302		59,785	(7.5)
Fiduciary and Asset Management Fees		22,175		21,053	5.3
Brokerage and Investment Banking Revenue		12,564		11,375	10.5
Mortgage Banking Income		13,328		12,666	5.2
Credit Card Fees		17,383		13,385	29.9
Securities Gains (Losses)		598		(65)	nm
Other Fee Income		14,826		14,122	5.0
Other Non-Interest Income		16,310		43,640	(62.6)
Non-Interest Income before Reimbursable Items		763,072		632,192	20.7
Reimbursable Items		148,330		116,190	27.7
Total Non-Interest Income		911,402		748,382	21.8
Non-Interest Expense:
Personnel Expense		398,425		361,586	10.2
Occupancy & Equipment Expense		175,473		164,577	6.6
Other Non-Interest Expense		202,623		142,222	42.5
Non-Interest Expense before Reimbursable Items		776,521		668,385	16.2
Reimbursable Items		148,330		116,190	27.7
Total Non-Interest Expense		924,851		784,575	17.9
Minority Interest in Consolidated Subsidiaries		18,504		13,101	41.2
Income Before Taxes		389,867		330,644	17.9
Income Tax Expense		144,674		121,341	19.2
Net Income	$	245,194		209,303	17.1
Basic Earnings Per Share		0.79		0.69	14.9
Diluted Earnings Per Share		0.78		0.68	14.7
Dividends Declared Per Share		0.37		0.35	5.3
Return on Assets		1.92	%	1.89	3	bp
Return on Assets		18.12		17.80	32
Average Shares Outstanding - Basic		310,890		304,912	2.0	%
Average Shares Outstanding - Diluted		314,297		307,835	2.1

SYNOVUS													5 of 11
	INCOME STATEMENT
	(In thousands, except per share data)		2005				2004						2nd Quarter
			Second		First		Fourth		Third		Second		'05 vs. '04
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	360,763		332,927		314,019		301,457		279,013		29.3	%
	Interest Expense		122,110		104,444		88,281		76,313		66,804		82.8
	Net Interest Income (Taxable Equivalent)		238,653		228,483		225,738		225,144		212,209		12.5
	Tax Equivalent Adjustment		1,588		1,621		1,703		1,710		1,747		(9.1)
	Net Interest Income		237,065		226,862		224,035		223,434		210,462		12.6
	Provision for Loan Losses		22,823		19,283		20,855		21,192		17,548		30.1
	Net Interest Income After Provision		214,242		207,579		203,180		202,242		192,914		11.1
	Non-Interest Income:
	Electronic Payment Processing Services		215,784		205,163		197,129		197,822		183,731		17.4
	Merchant Services		68,696		27,105		6,411		6,518		6,876		nm
	Other Transaction Processing Services Revenue		45,324		48,514		45,224		43,006		41,827		8.4
	Service Charges on Deposits		28,175		27,127		30,321		31,344		31,273		(9.9)
	Fiduciary and Asset Management Fees		11,138		11,037		11,326		10,622		10,485		6.2
	Brokerage and Investment Banking Revenue		6,301		6,263		5,361		5,012		5,616		12.2
	Mortgage Banking Income		7,430		5,898		6,773		6,861		5,772		28.7
	Credit Card Fees		9,291		8,092		8,775		8,014		7,424		25.1
	Securities Gains (Losses)		327		271		164		(24)		-		nm
	Other Fee Income		7,340		7,486		7,654		7,451		7,202		1.9
	Other Non-Interest Income		7,325		8,985		12,162		11,357		15,341		(52.3)
	Non-Interest Income before Reimbursable Item		407,131		355,941		331,300		327,983		315,547		29.0
	Reimbursable Items		79,161		69,169		57,039		56,309		55,745		42.0
	Total Non-Interest Income		486,292		425,110		388,339		384,292		371,292		31.0
	Non-Interest Expense:
	Personnel Expense		208,596		189,829		175,369		194,624		174,955		19.2
	Occupancy & Equipment Expense		88,839		86,634		77,039		80,073		86,187		3.1
	Other Non-Interest Expense		110,016		92,607		88,639		74,699		74,365		47.9
	Non-Interest Expense before Reimbursable Items		407,451		369,070		341,047		349,396		335,507		21.4
	Reimbursable Items		79,160		69,170		57,039		56,309		55,745		42.0
	Total Non-Interest Expense		486,611		438,240		398,086		405,705		391,252		24.4
	Minority Interest in Consolidated Subsidiaries		9,672		8,832		8,143		7,480		6,852		41.2
	Income Before Taxes		204,251		185,617		185,289		173,349		166,102		23.0
	Income Tax Expense		75,791		68,883		66,567		64,341		60,961		24.3
	Net Income	$	128,460		116,734		118,722		109,008		105,141		22.2
	Basic Earnings Per Share		0.41		0.38		0.38		0.35		0.34		20.2
	Diluted Earnings Per Share		0.41		0.37		0.38		0.35		0.34		19.9
	Dividends Declared Per Share		0.18		0.18		0.17		0.17		0.17		5.3
	Return on Assets		1.98	%	1.86	%	1.91	%	1.82	%	1.86	%	12	bp
	Return on Equity		18.70		17.52		17.92		17.00		17.60		110
	Average Shares Outstanding - Basic		311,154		310,622		309,740		309,448		306,180		1.6	%
	Average Shares Outstanding - Diluted		314,691		313,900		313,268		312,343		308,857		1.9
bp - change is measured as difference in basis points.
nm - not meaningful

SYNOVUS						6 of 11
Financial Services Segment
	INCOME STATEMENT		Six Months Ended
	(In thousands)		June 30,
			2005		2004	Change
	Interest Income (Taxable Equivalent)	$	693,716		550,496	26.0	%
	Interest Expense		227,956		134,054	70.0
	Net Interest Income (Taxable Equivalent)		465,760		416,442	11.8
	Tax Equivalent Adjustment		3,199		3,540	(9.6)
	Net Interest Income		462,561		412,902	12.0
	Provision for Loan Losses		42,106		33,272	26.6
	Net Interest Income After Provision		420,455		379,630	10.8
	Non-Interest Income:
	Service Charges on Deposits		55,303		59,784	(7.5)
	Fiduciary and Asset Management Fees		22,368		21,385	4.6
	Brokerage and Investment Banking Revenue		12,564		11,375	10.5
	Mortgage Banking Income		13,328		12,666	5.2
	Credit Card Fees		17,384		13,385	29.9
	Securities Gains (Losses)		598		(65)	nm
	Other Fee Income		14,825		14,122	5.0
	Other Non-Interest Income		18,846		37,169	(49.3)
	Total Non-Interest Income		155,216		169,821	(8.6)
	Non-Interest Expense:
	Personnel Expense		181,468		188,282	(3.6)
	Occupancy & Equipment Expense		43,259		39,695	9.0
	Other Non-Interest Expense		90,861		81,565	11.4
	Total Non-Interest Expense		315,588		309,542	2.0
	Income Before Taxes		260,083		239,909	8.4
	Income Tax Expense		93,263		86,112	8.3
	Net Income	$	166,820		153,797	8.5
	Return on Assets		1.37	%	1.45	(8)	bp
	Return on Equity		16.81		17.71	(90)
bp - change is measured as difference in basis points.
nm - not meaningful

SYNOVUS													7 of 11
Financial Services Segment
	INCOME STATEMENT
	(In thousands)		2005				2004						2nd Quarter
			Second		First		Fourth		Third		Second		'05 vs. '04
			Quarter		Quarter		Quarter		Quarter		Quarter		Change
	Interest Income (Taxable Equivalent)	$	360,789		332,927		314,009		301,458		279,010		29.3	%
	Interest Expense		122,768		105,188		88,933		76,502		66,964		83.3
	Net Interest Income (Taxable Equivalent)		238,021		227,739		225,076		224,956		212,046		12.2
	Tax Equivalent Adjustment		1,585		1,614		1,692		1,710		1,744		(9.1)
	Net Interest Income		236,436		226,125		223,384		223,246		210,302		12.4
	Provision for Loan Losses		22,823		19,283		20,855		21,192		17,548		30.1
	Net Interest Income After Provision		213,613		206,842		202,529		202,054		192,754		10.8
	Non-Interest Income:
	Service Charges on Deposits		28,175		27,127		30,321		31,344		31,273		(9.9)
	Fiduciary and Asset Management Fees		11,324		11,044		11,538		10,834		10,675		6.1
	Brokerage and Investment Banking Revenue		6,301		6,263		5,361		5,012		5,616		12.2
	Mortgage Banking Income		7,430		5,898		6,773		6,861		5,772		28.7
	Credit Card Fees		9,291		8,092		8,775		8,014		7,424		25.1
	Securities Gains (Losses)		327		271		164		(24)		-		nm
	Other Fee Income		7,339		7,487		7,654		7,451		7,202		1.9
	Other Non-Interest Income		10,458		8,389		10,335		7,207		11,409		(8.3)
	Total Non-Interest Income		80,645		74,571		80,921		76,699		79,371		1.6
	Non-Interest Expense:
	Personnel Expense		90,721		90,747		82,601		93,631		91,283		(0.6)
	Occupancy & Equipment Expense		21,712		21,547		21,305		21,156		20,004		8.5
	Other Non-Interest Expense		45,320		45,541		50,677		42,764		42,310		7.1
	Total Non-Interest Expense		157,753		157,835		154,583		157,551		153,597		2.7
	Income Before Taxes		136,505		123,578		128,867		121,202		118,528		15.2
	Income Tax Expense		49,060		44,203		44,992		43,935		42,486		15.5
	Net Income	$	87,445		79,375		83,875		77,267		76,042		15.0
	Return on Assets		1.41	%	1.33	%	1.41	%	1.35	%	1.41	%	-	bp
	Return on Equity		17.41		16.19		17.09		16.20		17.26		15
bp - change is measured as difference in basis points.
nm - not meaningful

SYNOVUS					8 of 11
	BALANCE SHEET		June 30, 2005	December 31, 2004	June 30, 2004
	(In thousands, except share data)
	ASSETS
	Cash and due from banks	$	811,781	683,035	756,534
	Interest earning deposits with banks		14,270	4,153	4,134
	Federal funds sold and securities purchased
	under resale agreements		344,958	135,471	182,414
	Mortgage loans held for sale		155,977	120,186	160,507
	Investment securities available for sale		2,756,365	2,695,593	2,604,799
	Loans, net of unearned income		20,479,834	19,480,396	18,075,007
	Allowance for loan losses		(277,527)	(265,745)	(248,585)
	Loans, net		20,202,307	19,214,651	17,826,422
	Premises and equipment, net		657,765	638,407	625,678
	Contract acquisition costs and computer software, net		450,352	401,074	357,724
	Goodwill, net		457,946	416,283	381,057
	Other intangible assets, net		49,232	41,628	38,409
	Other assets		812,341	699,697	622,538
	Total assets	$	26,713,294	25,050,178	23,560,216
	LIABILITIES AND SHAREHOLDERS' EQUITY
	Liabilities:
	Deposits:
	Non-interest bearing	$	3,474,299	3,337,908	3,148,562
	Interest bearing		16,632,179	15,239,560	14,342,194
	Total deposits		20,106,478	18,577,468	17,490,756
	Federal funds purchased and securities sold
	under repurchase agreements		724,445	1,208,080	1,325,692
	Long-term debt		2,335,688	1,879,583	1,732,490
	Billings in excess of costs and profits on uncompleted contracts		-	-	1,407
	Other liabilities		570,914	576,474	370,509
	Total liabilities		23,737,525	22,241,605	20,920,854
	Minority interest in consolidated subsidiaries		181,957	167,284	153,265
	Shareholders' equity:
	Common stock, par value $1.00 a share (1)		317,181	315,636	314,638
	Surplus		660,052	628,396	612,343
	Treasury stock (2)		(113,944)	(113,944)	(113,986)
	Unearned compensation		(2,942)	(106)	(186)
	Accumulated other comprehensive income (loss)		(517)	8,903	(8,704)
	Retained earnings		1,933,982	1,802,404	1,681,992
	Total shareholders' equity		2,793,812	2,641,289	2,486,097
	Total liabilities and shareholders' equity	$	26,713,294	25,050,178	23,560,216
	(1) Common shares outstanding: 311,519,262; 309,974,509; and 308,976,481 at June 30, 2005, December 31, 2004, and June 30, 2004, respectively.
	(2) Treasury shares: 5,661,538 at June 30, 2005, 5,661,538 at December 31, 2004, and 5,661,623 at June 30, 2004.

SYNOVUS								9 of 11
AVERAGE BALANCES AND YIELDS/RATES
(Dollars in thousands)
			2005			2004
			Second		First	Fourth	Third	Second
			Quarter		Quarter	Quarter	Quarter	Quarter
Interest Earning Assets
Taxable Investment Securities		$	2,556,964		2,553,423	2,408,960	2,382,319	2,355,328
	Yield		3.78	%	3.74	3.69	3.72	3.71
Tax-Exempt Investment Securities		$	220,109		223,812	229,190	233,271	230,885
	Yield		6.87	%	6.93	6.99	6.92	7.14
Commercial Loans		$	17,072,813		16,604,087	16,029,042	15,385,995	14,567,795
	Yield		6.48	%	6.15	5.85	5.79	5.66
Consumer Loans		$	833,071		846,743	948,273	958,540	967,450
	Yield		7.37	%	7.42	7.32	8.03	8.00
Mortgage Loans		$	1,022,169		1,026,532	954,078	936,240	856,688
	Yield		6.47	%	6.09	6.04	5.89	5.92
Credit Card Loans		$	267,571		261,202	260,523	248,755	245,534
	Yield		9.35	%	9.82	8.84	8.93	8.53
Home Equity Loans		$	1,100,010		1,037,214	973,604	890,867	790,238
	Yield		5.92	%	5.56	5.08	4.61	4.45
Allowance for Loan Losses		$	(278,734)		(270,853)	(262,711)	(252,370)	(241,082)
Loans, Net		$	20,016,900		19,504,925	18,902,809	18,168,027	17,186,623
	Yield		6.61	%	6.31	6.01	5.97	5.87
Mortgage Loans Held for Sale		$	108,928		87,538	103,594	112,502	148,471
	Yield		6.41	%	6.15	5.75	6.15	5.27
Federal Funds Sold and Time Deposits
with Banks		$	133,399		119,853	106,996	166,717	162,510
	Yield		3.10	%	2.45	2.06	1.24	1.05
Total Interest Earning Assets		$	23,036,301		22,489,551	21,751,549	21,062,836	20,083,817
	Yield		6.28	%	5.99	5.75	5.69	5.58
Interest Bearing Liabilities
Time Deposits Over $100,000 (less brokered
time deposits)		$	2,534,846		2,392,957	2,329,295	2,284,772	2,185,597
	Rate		3.04	%	2.77	2.54	2.33	2.31
Brokered Time Deposits		$	2,689,079		2,487,264	2,066,938	1,851,198	1,603,826
	Rate		3.21	%	2.94	2.60	2.38	2.08
Time Deposits Under $100,000		$	2,249,590		2,197,788	2,194,194	2,209,883	2,225,224
	Rate		2.71	%	2.47	2.29	2.18	2.21
Interest Bearing Demand Deposits		$	2,990,725		2,980,346	2,848,978	2,716,488	2,773,020
	Rate		1.12	%	0.96	0.72	0.60	0.54
Money Market Accounts		$	4,968,113		4,754,130	4,765,591	4,778,276	4,300,823
	Rate		2.31	%	1.90	1.51	1.23	1.04
Savings Deposits		$	568,279		556,629	547,026	555,969	551,037
	Rate		0.35	%	0.27	0.21	0.17	0.17
Federal Funds Purchased and Other
Short-Term Borrowings		$	1,255,755		1,541,396	1,488,555	1,422,598	1,513,306
	Rate		2.75	%	2.34	1.83	1.40	1.00
Long-Term Debt		$	1,981,235		1,877,158	1,821,889	1,747,788	1,667,441
	Rate		4.01	%	3.84	3.63	3.51	3.53
Total Interest Bearing Liabilities		$	19,237,622		18,787,668	18,062,466	17,566,972	16,820,274
	Rate		2.54	%	2.25	1.94	1.72	1.59
Non-Interest Bearing Demand Deposits		$	3,429,813		3,267,679	3,516,878	3,137,357	3,006,493
Shareholders' Equity		$	2,755,510		2,701,585	2,635,188	2,550,346	2,402,271
Total Assets		$	26,102,816		25,392,540	24,921,847	23,778,250	22,705,467
Spread			3.74	%	3.75	3.81	3.97	3.99
Net Interest Margin, before fees			4.01	%	3.98	3.98	3.90	3.89
Net Interest Margin, after fees			4.15	%	4.11	4.13	4.25	4.24

SYNOVUS									10 of 11
	LOANS OUTSTANDING AND NONPERFORMING LOANS COMPOSITION
	(Dollars in thousands)
			June 30, 2005
				Loans as a %			Total	Nonperforming Loans
				of Total Loans			Nonperforming	as a % of Total
	Loan Type		Total Loans	Outstanding			Loans	Nonperforming Loans
	Commercial Real Estate
	Multi-Family	$	526,820	2.6	%	$	341	0.4		%
	Hotels		804,316	3.9			1,236	1.6
	Office Buildings		786,262	3.8			5	0.0
	Shopping Centers		628,701	3.1			326	0.4
	Commercial Development		803,494	3.9			152	0.2
	Other Investment Property		330,992	1.6			84	0.1
	Total Investment Properties		3,880,585	18.9			2,144	2.7
	1-4 Family Construction		1,372,556	6.7			1,363	1.7
	1-4 Family Perm / Mini-Perm		1,087,763	5.3			2,562	3.2
	Residential Development		1,219,186	6.0			6,012	7.6
	Total 1-4 Family Properties		3,679,505	18.0			9,937	12.5
	Land Acquisition		913,488	4.5			410	0.5
	Total Investment-Related Real Estate		8,473,578	41.4			12,491	15.6
	Owner-Occupied		2,335,195	11.4			10,948	13.8
	Other Property		1,202,920	5.9			6,434	8.1
	Total Commercial Real Estate		12,011,693	58.7			29,873	37.6
	Commercial & Industrial		5,210,170	25.4			40,412	50.8
	Consumer		3,301,736	16.1			9,226	11.6
	Unearned Income		(43,765)	(0.2)			-	-
	Total	$	20,479,834	100.0	%	$	79,511	100.0		%

SYNOVUS								11 of 11
	CREDIT QUALITY DATA
	(Dollars in thousands)		2005		2004			2nd Quarter
			Second	First	Fourth	Third	Second	'05 vs. '04
			Quarter	Quarter	Quarter	Quarter	Quarter	Change
	Nonperforming Loans	$	79,511	77,308	80,456	79,776	67,489	17.8	%
	Other Real Estate		24,325	26,658	21,492	25,424	26,972	(9.8)
	Nonperforming Assets		103,836	103,966	101,948	105,200	94,461	9.9
	Allowance for Loan Losses		277,527	273,724	265,745	257,647	248,585	11.6
	Net Charge-Offs - Quarter		19,020	11,305	12,757	12,130	9,589	98.4
	Net Charge-Offs - YTD		30,325	11,305	41,249	28,492	16,362	85.3
	Net Charge-Offs / Average Loans - Quarter		0.37	0.23	0.27	0.26	0.22
	Net Charge-Offs / Average Loans - YTD		0.30	0.23	0.23	0.22	0.19
	Nonperforming Loans / Loans & ORE		0.39	0.39	0.41	0.42	0.37
	Nonperforming Assets / Loans & ORE		0.51	0.52	0.52	0.56	0.52
	Allowance / Loans		1.36	1.36	1.36	1.37	1.38
	Allowance / Nonperforming Loans		349.04	354.07	330.30	322.96	368.34
	Allowance / Nonperforming Assets		267.27	263.28	260.67	244.91	263.16
	Past Due Loans over 90 days		17,163	14,376	18,138	23,178	27,453
	As a Percentage of Loans Outstanding		0.08	0.07	0.09	0.12	0.15
	Total Past Dues		120,224	122,229	84,458	118,390	109,385
	As a Percentage of Loans Outstanding		0.59	0.61	0.43	0.63	0.61
	REGULATORY CAPITAL RATIOS (1)
	(Dollars in thousands)
			June 30, 2005	December 31, 2004	June 30, 2004
	Tier 1 Capital	$	2,492,154	2,369,332	2,252,730
	Total Risk-Based Capital		3,519,681	2,935,077	2,801,315
	Tier 1 Capital Ratio		9.5	10.04	10.26
	Total Risk-Based Capital Ratio		14.06	12.44	12.75
	Leverage Ratio		9.74	9.78	10.11
	(1) June 30, 2005 information is preliminary.