8. Synovus FinancialCompany Profile Shares of Synovus Financial ( SNV) of Columbus, Ga. closed at $2.48 Wednesday, up 23% year-to-date. The company owes $967.9 million in TARP money. Income Statement Synovus reported a second-quarter net loss to common shareholders of $242.6 million or 36 cents a share, compared to a first-quarter loss of $229.8 million or 47 cents a share and a loss of $601.2 million or $1.82 a share for the second quarter of 2009. Driving the year-over-year earnings improvement was a reduction in the provision for loan loss reserves to $299 million during the second quarter from $631.5 million a year earlier. With net charge-offs totaling $433 million during the second quarter, the "reserve release" was $134 million. Balance Sheet The company had $32.4 billion in total assets as of June 30, with a nonperforming assets ratio of 4.90%, improving from 5.79% the previous quarter and 5.09% a year earlier. The ratio of net charge-offs to loan loss reserves for the second quarter was 7.15%, compared to 5.03% during the first quarter and 5.04% for the first quarter of 2009. The reserve release and lowering of the reserve coverage ratio to 3.55% of total loans, were strong signs of management's confidence that the improvement in asset quality will continue. The tier 1 leverage ratio was 10.12% and the total risk-based capital ratio were 16.91% as of June 30. Synovus's tangible common equity ratio was 7.58%. Stock Ratios Shares trade for 0.8 times tangible book value, making Synovus the cheapest by this measure among this group of ten companies. The consensus among analysts polled by Thomson Reuters is for the company to return to profitability in 2012, earning 30 cents a share. Analyst Ratings Out of 21 analysts covering Synovus, five have buy ratings, 14 recommend investors hold the shares and 2 recommend selling the shares.