EXHIBIT 12.1

SYNOVUS FINANCIAL CORP.

RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended June 30, 2015			Years Ended December 31,
(dollars in thousands)				2014		2013	2012	2011		2010
Ratio 1 – Including interest on deposits
Earnings:
Income (loss) from continuing operations before income taxes	$	173,847		302,559		252,628	31,477	(59,532	)	(849,170	)
Fixed charges excluding preferred stock dividends and accretion	61,774			117,001		126,379	158,225	225,938		342,675
Total	$	235,621		419,560		379,007	189,702	166,406		(506,495	)
Fixed charges:
Interest on deposits	31,631			55,179		64,392	95,749	173,885		288,327
Interest on short-term borrowings	89			220		324	614	1,063		1,921
Interest on long-term debt	26,427			54,009		54,106	53,659	42,654		44,000
Portion of rents representative of the interest factor (1/3) of expense	3,626			7,593		7,557	8,203	8,336		8,426
Preferred stock dividends and accretion	5,119			10,238		40,830	58,703	58,088		57,510
Total fixed charges including preferred stock dividends and accretion	$	66,892		127,239		167,209	216,928	284,026		400,184
Ratio of earnings to fixed charges	3.52		x	3.30	x	2.27x	0.87x	0.59x		nm
Ratio 2 – Excluding interest on deposits
Earnings:
Income (loss) from continuing operations before income taxes	$	173,847		302,559		252,628	31,477	(59,532	)	(849,170	)
Fixed charges excluding preferred stock dividends and accretion	30,142			61,822		61,987	62,475	52,053		54,347
Total	$	203,989		364,381		314,615	93,952	(7,479	)	(794,823	)
Fixed charges:
Interest on short-term borrowings	89			220		324	614	1,063		1,921
Interest on long-term debt	26,427			54,009		54,106	53,659	42,654		44,000
Portion of rents representative of the interest factor (1/3) of expense	3,626			7,593		7,557	8,203	8,337		8,426
Preferred stock dividends and accretion	5,119			10,238		40,830	58,703	58,088		57,510
Total fixed charges including preferred stock dividends and accretion	$	35,261		72,060		102,817	121,179	110,142		111,857
Ratio of earnings to fixed charges	5.79		x	5.06	x	3.06x	0.78x	nm		nm