- Net income available to common shareholders was $712.8 million for the fourth quarter of 2012, compared to net income available to common shareholders of $16.0 million for the third quarter of 2012 and $12.8 million for the fourth quarter of 2011. Net income available to common shareholders was $775.0 million for the year ended December 31, 2012, compared to a net loss attributable to common shareholders of $118.7 million for the year ended December 31, 2011.
- Diluted net income per common share for the fourth quarter of 2012 was $0.78, compared to diluted net income per common share of $0.02 for the third quarter of 2012 and $0.01 for the fourth quarter of 2011. Diluted net income per common share for the year ended December 31, 2012 was $0.85, compared to a net loss per common share of $0.15 for the year ended December 31, 2011.
- The fourth quarter results include an income tax benefit of approximately $800 million from the recapture of substantially all of the deferred tax asset valuation allowance. The recapture of the deferred tax asset drove the $0.89 increase in tangible book value per share during the quarter to $2.96.
- The fourth quarter results also reflect the successful completion of distressed asset sales of approximately $545 million, including the execution of a bulk sale effective December 10, 2012. The fourth quarter distressed asset dispositions resulted in a pre-tax charge of approximately $157 million.
Synovus Reports Earnings Of $713 Million For Fourth Quarter Of 2012
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