Net Income Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted earnings per common share for the six and three months ended June 30, 2013 and 2012.

	Six Months Ended June 30,			Three Months Ended June 30,
(in thousands, except per share data)	2013		2012	2013	2012
Basic Net Income Per Common Share:
Net income available to common shareholders	$	45,515	46,172	30,717	24,803
Weighted average common shares outstanding	819,245		786,355	851,093	786,576
Basic net income per common share	$	0.06	0.06	0.04	0.03
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	45,515	46,172	30,717	24,803
Weighted average number common shares outstanding	819,245		786,355	851,093	786,576
Potentially dilutive shares from assumed exercise of securities or other contracts to purchase Common Stock	91,641		123,187	59,844	123,185
Weighted average number diluted common shares	910,886		909,542	910,937	909,761
Diluted net income per common share	$	0.05	0.05	0.03	0.03

Basic net income per common share is computed by dividing net income by the average common shares outstanding for the period. Diluted net income per common share reflects the dilution that could occur if securities or other contracts to issue Common Stock were exercised or converted. The dilutive effect of outstanding options and restricted share units is reflected in diluted net income per common share, unless the impact is anti-dilutive, by application of the treasury stock method.

During 2010, 13,800,000 units of tMEDS were issued through a public offering. On May 15, 2013, each remaining tMED automatically settled, and Synovus issued 122.8 million shares of Common Stock. As a result, these shares are no longer potentially dilutive shares from assumed exercise of these contracts to purchase Common Stock.

As of June 30, 2013 and 2012, there were 28.5 million and 35.0 million, respectively, potentially dilutive shares related to Common Stock options and Warrants to purchase shares of Common Stock that were outstanding during 2013 and 2012, but were not included in the computation of diluted net income per common share because the effect would have been anti-dilutive.