2005 ANNUAL REPORT Synovus is a company unique in the marketplace. Our differences set us apart from other companies and give us strength to move ahead of our competition.

Financial Highlights 2 Letter to Shareholders 4 The Synovus Family of Companies 14 Board of Directors 16 Shareholder Information 17 Our growing geographic footprint, our decentralized management style, the unique asset we have in TSYS, and our people are the differences that make us strong. Financial Highlights

year ended December 31 2005 2004 % change Team Members (dollars in thousands, except per share data) as of December 31 2005 2004 % change Total Revenues (1) $ 2,574,583 $ 2,152,077 19.6 Banking & Other Synovus Companies 6,639 6,450 2.9 Net Income 516,446 437,033 18.2 TSYS 6,793 5,777 17.6 Net Income Per Share — Basic 1.66 1.42 16.6 Total Team Members 13,432 12,227 9.9 Net Income Per Share — Diluted 1.64 1.41 16.5 Total Assets 27,620,672 25,050,178 10.3 Net Loans 21,102,735 19,214,651 9.8 Stock Information Total Deposits 20,784,365 18,577,468 11.9 as of December 31 2005 2004 % change Shareholders’ Equity 2,949,329 2,641,289 11.7 Closing Stock Price $27.01 $28.58 (5.5) Book Value Per Share 9.43 8.52 10.7 Number of Shares Outstanding (in thousands) 312,640 309,975 0.9 Dividends Declared Per Share 0.73 0.69 5.3 Annual Shares Traded (in millions) 157 156 0.6 (2) Return on Assets 1.96 % 1.88 % nm Price/Earnings Multiple 16.47 20.27 nm Return on Equity 18.45 17.63 nm Price/Book Multiple 2.86 3.35 nm Equity/Assets 10.68 10.54 nm Fee Income/Total Revenues (1) 62.36 60.01 nm Net Interest Margin, Before Fees 4.05 3.92 nm Stock Ownership Summary Net Interest Margin, After Fees 4.19 4.22 nm as of December 31 2005 2004 2003 2002 2001 Allowance for Loan Losses/Loans 1.35 1.36 nm Shareholders (of record and beneficial owners) 102,140 87,954 82,277 79,182 66,035 Nonperforming Assets Ratio 0.46 0.52 nm Institutional 48.2 % 46.0 % 45.8% 45.8 % 38.7 % Net Charge-Off Ratio 0.29 0.23 nm Institutional (excludes Synovus Investment Advisors) 32.4 % 29.7 % 29.7% 28.8 % 25.9 % Provision to Net Charge-Offs Multiple 1.41 1.83 nm Market Value (in billions) $ 8.44 $ 8.86 $ 8.74 $ 5.83 $ 7.38

Executive Management James H. Blanchard G. Sanders Griffith, III Thomas J. Prescott Chairman of the Board Senior Executive Vice President, General Counsel and Secretary Executive Vice President and Chief Financial Officer Richard E. Anthony Mark G. Holladay Calvin Smyre President and Chief Executive Officer Executive Vice President and Chief Credit Officer Executive Vice President, Corporate Affairs Fred L. Green, III Andrew R. Klepchick Vice Chairman Executive Vice President, President and Chief Executive Officer, Elizabeth R. James Financial Management Services Vice Chairman and Chief People Officer

2 Synovus 2005 Annual Report Synovus is a diversified financial services holding company with more than $27 billion in assets based in Columbus, . Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing through 39 banks and other Synovus offices in Georgia, , , and ; and electronic payment processing and related services through our 81% ownership of TSYS, one of the world’s largest companies for outsourced payment services.

3 3 3,4 Total Assets Diluted Net Income Per Share Adjusted for Stock Splits Dividends Per Share Adjusted for Stock Splits

$ 27.6 2005 $1.64 2005 $0.73 2005 $ 25.1 2004 $1.41 2004 $0.69 2004 $ 21.6 2003 $1.28 2003 $0.66 2003 $ 19.0 2002 $1.21 2002 $0.58 2002 $ 16.7 2001 $1.05 2001 $0.51 2001 $ 14.9 2000 $0.92 2000 $0.44 2000 $ 12.5 1999 $0.80 1999 Compound Annual $0.36 1999 Compound Annual $ 10.5 1998 $0.70 1998 Growth Rate $0.29 1998 Growth Rate $ 9.3 1997 $0.62 1997 10-year 14.1% $0.24 1997 10-year 16.4% $ 8.6 1996 $0.55 1996 5-year 12.3% $0.19 1996 5-year 10.7% $ 7.9 1995 $0.44 1995 $0.16 1995

5 1015202530 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 Billions of Dollars Dollars Dollars

Fee Income to Total Revenues1,3 Return on Assets3 Return on Equity3

62.36% 2005 1.96% 2005 18.45% 2005 60.01% 2004 1.88% 2004 17.63% 2004 59.94% 2003 1.91% 2003 17.95% 2003 58.45% 2002 2.10% 2002 19.69% 2002 59.78% 2001 2.03% 2001 20.1% 2001 59.69% 2000 1.95% 2000 20.1% 2000 59.00% 1999 1.97% 1999 19.3% 1999 56.00% 1998 1.96% 1998 19.2% 1998 54.26% 1997 1.87% 1997 19.8% 1997 53.17% 1996 1.75% 1996 19.5% 1996 49.90% 1995 1.53% 1995 17.9% 1995

10 20 30 40 50 60 70 0.5 1.0 1.5 2.0 2.5 5 10152025 Percent Percent Percent

3 3 Non-Performing Assets Ratio Net Charge-Off Ratio (1) Excluding investment securities gains (losses) and reimbursable items. 2002 excludes impairment loss on private equity investment of $8.4 million. 0.46% 2005 0.29% 2005 (2) Not meaningful. 0.52% 2004 0.23% 2004 (3) As originally reported. 1996 information before special FDIC assessment. 0.58% 2003 0.36% 2003 (4) Excludes dividends declared by subsidiaries before acquisition. 0.64% 2002 0.33% 2002 0.54% 2001 0.30% 2001 0.52% 2000 0.24% 2000 0.38% 1999 0.29% 1999 0.41% 1998 0.37% 1998 0.44% 1997 0.38% 1997 0.60% 1996 0.32% 1996 0.64% 1995 0.38% 1995

0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 Percent Percent

Synovus 2005 Annual Report 3 Dear Shareholders,

4 Synovus 2005 Annual Report Julia Barefield, Personal Banker at Columbus Bank and Trust, and Robbie Calhoun, Operations Specialist at Synovus Securities, Inc., work in different roles but are part of the same team delivering specialized financial services solutions to customers.

was a rewarding year for Synovus year strategy for growth. I think you will find ices to specific customer needs. Our efforts 2005 and for me personally. In July, our plans encouraging and exciting. paid off as core deposits grew faster than loans I moved into the role of CEO, a position held for the first time in many years; services per for 35 years by Jim Blanchard, a remarkable A Successful 2005 household were up in 37 of our 39 banks; individual. Jimmy’s passion for this company Our targets for 2005 were high. Our goal home equity lines grew 17% for a third year of and its people is truly inspiring. He has was to increase earnings per share by 14–17%. exceptional growth; and $55 million in new masterfully influenced Synovus’ reputation We planned to implement the first phase of deposits were generated through a successful through his leadership, salesmanship and our strategy, improve quality small business campaign. industry involvement. We are honored that and efficiency by streamlining processes, grow We continued our market expansion, Jimmy will continue to chair the Synovus core deposits faster than loans, increase serv- primarily through acquisitions and de novos Board of Directors until his retirement as an ices per household in every bank, and expand (building-from-scratch). executive employee in October 2006. He, along with countless others through- Our footprint across the flourishing Southeast, out the history of Synovus, laid a solid founda- tion for our company to reach new heights. our decentralized structure, TSYS — a key contributor We are proud to be a consistent, high perform- to our revenue mix — and of course, our people, are ing company as evidenced by record financial results in 2005. We’ve set aggressive goals for the differentiators that set us apart from our peers. 2006 and beyond, and we will reach them by capitalizing on those attributes that make us fee income. I am pleased to report that we The acquisition of Riverside Bancshares in unique in our industry: our firmly-established exceeded our targets. Net income for 2005 was North Metro Atlanta, announced in late 2005, footprint across the flourishing Southeast; our $516 million, up 18.2%, while earnings per is an example of in-market growth. Riverside decentralized structure; TSYS — a key contri- share were $1.64, up 16.5% over 2004. Bank merged with Bank of North Georgia butor to our revenue mix; and, of course, our We made excellent progress with our in the first quarter of 2006, expanding people. We believe that these differentiators retail banking strategy, successfully transform- Synovus’ total assets in the Metro Atlanta are the strengths that will provide the platform ing more than 280 bank branches to a more market to $5.7 billion. Additionally, last June, for Synovus’ future success. customer-friendly, sales-oriented environment. we brought together three well-performing In addition to highlighting our successes Every one of our 2,200 retail team members Synovus banks in the Tampa/St. Petersburg, in 2005, this annual report emphasizes these went through intensive training to become Florida market — United Bank of the Gulf unique attributes and outlines our new five- better-equipped to match products and serv- Coast in Sarasota, United Bank and Trust

Synovus 2005 Annual Report 5 Team members Shawna Butler (l) and Janice Porter (r) play important roles in creating effective borrowing solutions for Synovus Bank of Tampa Bay customers. Shawna as a Credit Analyst and Janice as a Commercial Lending Assistant make sure they exceed the expectations of customers throughout every step of the loan process.

Company in St. Petersburg and Peoples Bank We did a lot of work in 2005 to reengi- chain. At the end of the year, TSYS had a mix in Palm Harbor — to create Synovus Bank of neer, regionalize, centralize, and automate of positive and challenging news. We were Tampa Bay, strengthening our presence on the processes with the goal of improving quality disappointed to learn that Citigroup and Bank West Coast of Florida. In October, we and efficiency in key areas: Finance, Human of America would be moving significant pieces announced the signing of an agreement to Resources, and Deposit Operations. These of their business from TSYS. But on the inter- acquire Naples-based Banking Corporation of groups established plans and took steps to national front, TSYS acquired an equity inter- Florida, the parent company of First Florida streamline processes and control expenses in est in China UnionPay Data Co., Ltd. (“CUP Bank, marking our entry into another attractive 2006. To benefit our team members and Data”) and plans to increase its ownership in Florida region. customers, routine administrative tasks have the near future. CUP Data is the processing arm of China UnionPay Co., Ltd. (“CUP”), TSYS revenues from the international market are expected which has become one of the world’s largest and fastest-growing payments networks. CUP to increase over the next five years. operates the only national bankcard network in China, and all of China’s 875 million De novo entries represent an efficient been shifted away from our banking profes- general-purpose bankcards — including about form of market expansion. Our decentralized sionals, allowing them to provide more value 35 million credit cards — bear the China style encourages bank CEOs to be entrepre- through advisory and analytical services. UnionPay brand. neurs in identifying and investing in growth TSYS had an exceptional year, with 438 Revenues from the international market are opportunities. CEO Mike Sarvis expanded our million accounts on file at year end. Strong expected to increase over the next five years. Cohutta Banking Company in Chatsworth, performance throughout the year led TSYS to Additionally, TSYS is planning to convert 75 Georgia to serve a growing population in raise its earnings forecast twice in consecutive million new accounts in 2006, making this one nearby Chattanooga, Tennessee. Our de novo quarters. TSYS achieved a record $195 million of its highest annual conversion phases ever. A entries into the Jacksonville, Florida and in earnings in addition to reaching important series of contract renewals announced in recent Savannah, Georgia markets have already milestones and creating new client relation- months are expected to represent solid revenues exceeded our expectations with each bank ships in the U.S. and abroad. in the years ahead with Navy Federal Credit hitting the $100 million in assets mark last The purchase of Vital Processing Services Union, AmSouth Bank, TrustMark National year. We expect similar positive results from in March 2005 strengthened TSYS, placing Bank, and others. This is in addition to new recent moves into Augusta, Georgia and the company in a good position on both the clients Capital One, JPMorgan Chase & Co., Auburn/Opelika, Alabama. issuing and acquiring segments of the payment Fifth Third Bancorp and ABN AMRO Bank.

Continued on page 9

6 Synovus 2005 Annual Report Footprint

Spanning five southeastern states, Synovus is located in the country’s strongest, most promising region for growth. To maximize our effectiveness in this geographic area, over time we have increased our presence in some of the Southeast’s premier markets such as Atlanta and Tampa Bay. Within this footprint, there is a growing base of customers who want the relationships that come from doing business with a community bank but also want to enjoy the benefits of big bank products and services. Our business model of Synovus’ growth in the Tampa Bay market is a great illustration of how our company is strategically community banks powerfully expanding its geographic footprint and how planned growth can benefit customers. In 2005, three connected to a multi-billion asset Synovus banks joined forces and consolidated under one charter as Synovus Bank of Tampa Bay. holding company allows Synovus to stand out among a very crowded and competitive The merger brought together a seasoned team of bankers who our business. With a continued focus on commercial banking, regional financial services had successfully carved out niches in their own markets. By an enhanced retail strategy and plans for additional branch marketplace. combining our talent and resources, we tripled our branch locations in the near future, Synovus Bank of Tampa Bay is network and gained the ability to deliver one brand, which well positioned to gain significant market share in this major magnified our presence in this highly competitive region. metropolitan area. Synovus’ strength enabled us to leverage opportunities in Susan Blackburn, Retail Bank Executive, Tampa Bay to better meet the needs of customers and grow Synovus Bank of Tampa Bay, Tampa, Florida

Synovus 2005 Annual Report 7

Augusta First Bank & Trust President Tat Thompson (l) and Personal Banker Deryle Ingram (r) are well positioned to intro- duce the Synovus way of doing business in the Augusta mar- ket. Empowered to make decisions at the local level, they are building community-based relationships while offering “big bank” products and services to family, friends and neighbors.

2006 and Beyond tion, TSYS and people — as the backdrop, we which include corporate cash management, With 2005 behind us, we continue to identified five key opportunities, in addition to asset-based lending, leasing, capital markets, prepare for the future. Our leadership team TSYS, that hold the greatest potential for and international services. This approach plays spent much of last year developing a long term moving Synovus from a $27 billion asset into our strengths and will help us diversify strategic plan that outlines opportunities organization to one that is closer to the $50 risk and profitability. We believe that our for competitively positioning Synovus and billion mark by 2010. company can literally become the premier commercial bank in the Southeast.

Our new five-year growth strategy is designed to Leverage Synovus’ Geographic Footprint consistently increase profits in the double-digit range Synovus operates in one of the best regions of the . Over the past 15 and take our company closer than ever to becoming the years, we have shifted our presence into some finest financial services company in the world. of the larger cities in the Southeast. Our community bank delivery is effective in those markets, but only if we have the best people maximizing potential within each of our varied Become the Premier Commercial Bank and strong leadership. Our expansion will lines of business. This plan also provides struc- in the Southeast continue, emphasizing good cultural fits and ture and accountability for executing our Synovus has a strong foundation in moving at a controlled pace. The mix will strategies going forward. We found this plan- commercial banking. Many of our banks were continue to be part acquisition, part de novo, ning process to be invigorating as we refo- built around their attraction to small and with organic customer growth continuing to cused on the fundamentals. Along the way, we middle market company owners. In recent be our primary objective. have reaffirmed our commitment to our decen- years, growth opportunities in commercial real tralized structure. Our aspiration is to maxi- estate have somewhat diluted our efforts to Improve Business Line Integration mize the value of this business model. expand our commercial and industrial and Performance We now have a five-year plan designed to customer base. Our core competency in Synovus’ decentralized management style consistently increase profits in the double- commercial real estate will remain, but we will empowers those who work directly with digit range and push us closer than ever to put new energy toward developing middle customers. Our lines of business outside core becoming the finest financial services market relationships. Our responsive, commu- banking all have potential to perform even company in the world. With our key differen- nity bank model appeals to those businesses as better. Expanding our base of existing customer tiators — geographic footprint, decentraliza- does our expanded array of specialized services relationships requires collaboration between

Synovus 2005 Annual Report 9 TSYS Business Systems Manager Liz Jones (l) uses years of banking experience she obtained at Columbus Bank and Trust to bring a unique understanding of card clients’ needs, allowing her to provide innovative solutions to TSYS clients. Valeria Marto (r), Lead Marketing Specialist at TSYS, coordinates advertising, trade shows and other marketing initiatives which introduce the TSYS brand in international markets.

our bankers and line-of-business leaders. Key FMS Profit Improvement. With new new joint marketing opportunities with build- areas to consider as we better integrate our leadership in place, FMS will undergo changes ers and realtors throughout our footprint. business include retail, Financial Management to “simplify, specialize, and capitalize” invest- Card Services. The key to unlocking the Services (FMS), mortgage banking, card serv- ment services. A shifting of our brokerage potential in card services is finding niche ices, branding and customer satisfaction. delivery channels from a centralized structure markets and using our banking franchises to Retail Banking. We have made significant to one that places accountability within our grow our card business. Our biggest gains in strides in strengthening the retail banking area banks; greater emphasis on trust services; and this area will likely come from commercial and achieving stronger deposit growth. The maximized profits from our capital markets card and merchant services growth as we major goals of our retail efforts are to increase business will widen profit margins and improve capitalize on our strong reputation in commer- core deposit growth rates, contribute addi- revenue growth. cial banking. tional fee income and diversify the loan port- Synovus Mortgage. We will accelerate Branding. Our brand strategy for Synovus folio. In 2006, Synovus will continue building our mortgage production and profitability over supports preserving each individual commu- on the retail banking strategy that was fully the next five years. We have set lofty goals that nity bank name as the primary customer-facing implemented in 2005 to create a more consis- are expected to increase annual production and brand. As we grow and move into bigger tent branch experience for customers across all net income by 2010. To achieve these goals, markets, our plans include elevating the Synovus name and more closely linking it to our local bank brands to signify to customers Over the next five years, Synovus will achieve a much the power of being connected to a larger higher integration of our business lines with particular financial provider. emphasis on strengthening our sales and service culture. Customer Satisfaction. Our Customer Covenant pledges to meet the needs of each customer through the finest personal service banks. With growth in talent; increased indi- we must become a Top 10 lender in every and products. Offering a full range of inte- vidual and branch-level accountability; and market we serve and emphasize recruiting, grated financial services solutions combined continued investments in product, desktop training, and motivating the top talent in this with exceptional customer care is key to build- functionality and access points such as call field. Synovus Mortgage will actively engage ing lasting relationships and attracting new centers, online banking and ATMs, Synovus with our banks to enhance delivery and pursue ones. In 2006, Synovus will implement an will more effectively compete in the retail growth opportunities, including better cross- expanded study of customer satisfaction among space going forward. selling of construction-to-permanent loans and our external customers. This enhanced survey

Continued on page 13

10 Synovus 2005 Annual Report TSYS

TSYS is one of Synovus’ greatest and most diverse sources of revenue. Identifying new revenue opportunities is equally important for TSYS as the domestic card industry continues to face consolidations. TSYS is capitalizing on international opportunities to secure its future through best of breed technology, a global experience in card industry knowledge and an emphasis on strong client relationships. While continuing to grow organically in the U.S., TSYS is also entering other payments industry segments like prepaid, acquiring and loyalty, as I am more excited than ever about our international opportunities. Our new joint venture in China aligns well as extending payment TSYS with the ultimate strategic partner, China UnionPay (CUP). services in industries such as healthcare. Using these The Peoples Bank of China established CUP in 2002 to ance, and high levels of inbound and outbound tourism. strategies, along with expand the acceptance and usage of cards in China, and These trends validate our entry into this incredible market. international moves into Asian currently all cards issued in China must carry the CUP brand. With a population approximately 4.5 times that of the United Pacific, European and Latin We are energized by recent positive economic indicators States, the growth potential for payment services in China is American markets, we believe in China, including growing levels of affluence, an increased tremendous. TSYS will continue to grow and positive perception of credit, a consistent growth rate in the Jonathan Wheeler, Director of International Services provide significant value to gross domestic product, strong growth in merchant accept- and Chief Representative for TSYS China Synovus.

Synovus 2005 Annual Report 11 People

Synovus has been recognized as a Great Place to Work by FORTUNE magazine every year since its “100 Best Companies to Work For” list emerged in 1998. This recognition is just one way we measure our effectiveness in putting people first every day. Since our company began 118 years ago, valuing the worth of each individual — team members, customers, and shareholders — has been our guiding principle. Today, we are committed to developing strong leaders and fostering a collaborative team environment to attract and retain the top talent Every public company faces the challenge of satisfying three constituencies: shareholders, in the industry. We believe this customers and team members. translates into a more satisfying experience for our customers and a higher performing company for Many fast-growing companies lose sight of the importance of along with big-company opportunities for career develop- our shareholders. appropriately caring for each of these groups, and team ment, advancement and impact. The leaders of Synovus give members are often the ones who get lost in the equation. team members a sense of ownership in the company. We are Synovus, on the other hand, cares deeply about the well- empowered to make things happen, and rewarded when we being of its people in every decision. Though our company is do. Our leaders treat us with respect, and that translates growing at a similar pace to others in the industry, the welfare directly to the way I want to serve my customers. of our team members is always top-of-mind. Allan Causey, Investment Banker, Synovus Securities, Inc., Synovus offers individuals the best of both worlds: the Birmingham, Alabama small-company environment and culture that’s so inviting,

12 Synovus 2005 Annual Report New team members Jason Eppenger, Commercial Credit Analyst, and Misty Morris, Administrative Assistant in Core Banking, joined First Commercial Bank in Birmingham this year, drawn to its unique people- focused culture and competitive benefits.

will provide a more complete measurement of remain our highest priority. We will offer new important for TSYS as the domestic card indus- how well we are living up to our promise. leadership development programs to provide try continues to face consolidations. Despite continuous learning beyond our core leader- the changing environment in which it Aggressively Pursue Emerging Business ship training. Ongoing feedback mechanisms, competes, TSYS’ strong leadership, exceptional Opportunities such as the Great Place to Work Survey, will team and a robust pipeline of business to be Diversifying revenue streams beyond continue to engage our team and keep our converted in 2006 have led to a projected earn- commercial real estate and TSYS will require us leadership accountable for making improve- ings growth of 21–23% over 2005, including a to more aggressively search for new sources of ments where needed across all companies. one-time termination fee of approximately $69 business. Maximizing payment innovations We will utilize our new “Gateway to Leader- million triggered by Bank of America’s pending holds the promise of a 10% increase in non- ship” management associate program to fourth quarter deconversion. interest income from select sources, including attract the brightest college graduates, placing ATM fees, merchant services, and micro them on the fast track to career develop- In Closing … payments. Affinity relationships and other ment and leadership opportunities. Finally, we We begin 2006 with momentum. Our sponsorship arrangements create opportunities will offer salary, incentive, benefits and company has worked to earn the trust of thou- for non-bank companies to partner with us to rewards programs that are competitive in the sands of customers, team members and share- issue cards. Finally, Synovus has the opportunity marketplace. Each year our team members can holders who have appreciated and benefited to boost fee income by utilizing TSYS’ card expect tangible enhancements to the work from our different approach to business over processing capabilities and with investments place environment. the years. We will continue to use our compet- through Total Technology Ventures (TTV), our itive strengths to maximize growth in every Atlanta-based venture capital firm. We are TSYS market and every line of business. Our desire is committed to the research, development, and TSYS expects to reach an estimated peak to continuously improve, so we are always a implementation of new business opportunities market share of 49% of general-purpose great place to work, a great place to do busi- each year during the next five years. MasterCard and Visa accounts owned by the ness, and a great security to own. top 50 U.S. issuers in 2006. Internationally, the Continue to Differentiate through strategic plan for the TSYS team includes capi- Sincerely, People Practices talizing on banking and processor consolida- Our commitment to people has long been tion trends in Europe, maximizing South one of our strongest competitive advantages. American markets like Brazil, and gaining trac- In 2006 and beyond, hiring, retaining, and tion in the China market through investments Richard E. Anthony developing the top talent in our industry like CUP Data. Diversifying revenue sources is President and Chief Executive Officer

Synovus 2005 Annual Report 13 The Synovus Family of Companies

NBSC market locations shown in white

A Provider of Mortgage Services

of Jacksonville

OF TAMPA BAY

14 Synovus 2005 Annual Report Regional CEO NASHVILLE, TN PEACHTREE CITY, GA CHATSWORTH, GA PHENIX CITY, AL The Bank of Nashville Peachtree National Bank Cohutta Banking Company CB&T Bank of East Alabama W. Luther Taylor J. Hunter Atkins, President & CEO Richard V. Spink, President & CEO Michael M. Sarvis, CEO Ronald J. Smith, President & CEO Pensacola, Florida bankofnashville.com pchnb.com cohuttabank.com cbtbankea.com Banks CHATTANOOGA, TN Mortgage Services MEMPHIS, TN NEWNAN, GA Cohutta Banking Company of Tennessee BIRMINGHAM, AL Trust One Bank Bank of Coweta Michael E. Haskew, President BIRMINGHAM, AL First Commercial Bank James P. Farrell D. Steven Stripling, President & CEO cbc-tn.com Synovus Mortgage Corp. Nelson Bean, President & CEO Chairman, President & CEO bankofcoweta.com Michael L. Padalino, firstcommercialbank.com trust1bank.com FORT VALLEY, GA President & CEO The Citizens Bank synovusmortgage.com ENTERPRISE, AL Regional CEO F. C. Greer, President & CEO Community Bank and Trust Company Regional CEO cbfv.com Synovus Financial H. Lamar Loftin, President & CEO Frederick D. Jefferson Management Services cbt-alabama.com Charles W. Garnett Thomasville, Georgia MONROE, GA Columbia, South Carolina The National Bank of Walton County Andrew R. Klepchick, President & CEO HUNTSVILLE, AL Banks Benjamin E. Garrett, President & CEO Atlanta, Georgia First Commercial Bank Bank nbwc.com Charles E. Kettle, Chairman & CEO FERNANDINA BEACH, FL ATLANTA, GA fcb-hsv.com COLUMBIA, SC First Coast Community Bank ROME, GA Creative Financial Group, Ltd. The National Bank of South Carolina James M. Townsend, President & CEO Citizens First Bank Robert W. Law, President & CEO JASPER, AL Charles W. Garnett, President & CEO fccbank.com citizensfirst-rome.com cfgltd.com First National Bank of Jasper nationalbanksc.com L. Gwaltney McCollum, Jr., JACKSONVILLE, FL STATESBORO, GA GLOBALT, Inc. Chairman & CEO Synovus Bank of Jacksonville Sea Island Bank William H. Roach, President & CEO fnb-jasper.com Regional CEO William J. Hammel, CEO Wayne D. Akins, President & CEO globalt.com synovusbankjax.com seaislandbank.com MONTGOMERY, AL Donald D. Howard Synovus Investment Advisors, Inc. Sterling Bank Alpharetta, Georgia TALLAHASSEE, FL TIFTON, GA William H. Roach, President W. Alan Worrell, The Tallahassee State Bank First Community Bank Chairman, President & CEO Banks Sharon E. Weeden, President & CEO John M. Davis, President & CEO COLUMBUS, GA sterlingmontgomery.com talstatebank.com firstcommunbanktifton.com Synovus Insurance Services ALPHARETTA, GA Carter L. Mize, President TUSCALOOSA, AL Bank of North Georgia ALBANY, GA THOMASVILLE, GA synovusinsurance.com Bank of Tuscaloosa Kessel D. Stelling, Jr., President & COO Security Bank and Trust Company Commercial Bank James B. Flemming, Chairman & CEO banknorthgeorgia.com Mark J. Lane, President & CEO Thomas J. Callaway, III, President & COO Synovus Securities, Inc. bankoftuscaloosa.com securitybank-albany.com bankcb.com J. Barton Singleton, President CARROLLTON, GA synovus.com/ssi NAPLES, FL* Citizens Bank & Trust of West Georgia AMERICUS, GA VALDOSTA, GA First Florida Bank James T. Edgar, President & CEO Sumter Bank & Trust Company First State Bank and Trust Company Synovus Trust Company Robert O. Smedley, President & CEO cbtwga.com Randolph B. Jones, Jr., President & CEO David A. Durland, President & CEO George G. Flowers, President firstfloridabank.com sumterbank.com fsbtc.com synovus.com/stc COVINGTON, GA PENSACOLA, FL First Nation Bank ATHENS, GA WARNER ROBINS, GA TSYS Bank of Pensacola Stephen C. Wood, CEO Athens First Bank & Trust CB&T Bank of Middle Georgia Thomas B. Carter, CEO firstnationbank.com J. William Douglas, President & CEO Gary M. McClure, President & CEO COLUMBUS, GA bankofpensacola.com athensfirstbank.com cbtbank.com Philip W. Tomlinson, Chairman & CEO DOUGLASVILLE, GA M. Troy Woods, President & COO TAMPA, FL Citizens & Merchants Bank BRUNSWICK, GA Regional CEO .com Synovus Bank of Tampa Bay James H. Mathis, President & CEO The Coastal Bank of Georgia David W. Dunbar, CEO citizens-merchantsbank.com J. Keith Caudell, President & CEO Stephen A. Melton synovusbankfl.com coastalbankofga.com Columbus, Georgia LAGRANGE, GA VALPARAISO, FL Commercial Bank and Trust Company CALHOUN, GA Banks Vanguard Bank and Trust Robert L. Carmichael, Jr. Georgia Bank & Trust M. Gary Roberts, President & CEO President & CEO Larry Roye, President & CEO COLUMBUS, GA vanguardbank.com combanktrust.com gbtcalhoun.com Columbus Bank and Trust Company Stephen A. Melton, President & CEO columbusbankandtrust.com *Second Quarter 2006 Synovus 2005 Annual Report 15 Board of Directors

Daniel P. Amos Lovick P. Corn* Alfred W. Jones, III Dr. Melvin T. Stith Chairman of the Board and Advisory Director Chairman of the Board and Dean of Whitman School of Management Chief Executive Officer W.C. Bradley Company Chief Executive Officer Syracuse University Aflac Incorporated Sea Island Company C. Edward Floyd, M.D. Philip W. Tomlinson** Richard E. Anthony President Mason H. Lampton Chairman of the Board and President and Chief Executive Officer Floyd Medical Associates, P.A. Chairman of the Board Chief Executive Officer Synovus Standard Concrete Products TSYS Gardiner W. Garrard, Jr. Joe E. Beverly** President John L. Moulton* Loyce W. Turner* Chairman of the Board The Jordan Company Senior Partner (Ret.) Chairman of the Board (Ret.) Commercial Bank Moulton and Hardin, Inc. First State Bank and Trust Company Vice Chairman of the Board (Ret.) T. Michael Goodrich Synovus Chairman of the Board and Elizabeth C. Ogie William B. Turner* Chief Executive Officer Private Investor Chairman of the Richard H. Bickerstaff * BE&K, Inc. Executive Committee (Ret.) Manager John T. Oliver, Jr. * Advisory Director Broken Arrow Land Company LLC Fred L. Green, III** Vice Chairman of the W.C. Bradley Company Vice Chairman Executive Committee (Ret.) James H. Blanchard Synovus Synovus William B. Turner, Jr. Chairman of the Board Chairman of the Board Chairman of the Board (Ret.) Vice Chairman of the Board and President Synovus The National Bank of South Carolina First National Bank of Jasper W.C. Bradley Company Chairman of the Executive Committee TSYS Roy M. Greene, Sr.* H. Lynn Page George C. Woodruff, Jr.* Chairman of the Board and President Vice Chairman of the Board (Ret.) Real Estate and Personal Investments Richard Y. Bradley Greene Communications, Inc. Synovus Attorney at Law Columbus Bank and Trust Company James D. Yancey Bradley & Hatcher V. Nathaniel Hansford TSYS Chairman of the Board (Ret.) President (Ret.) Synovus Frank W. Brumley North Georgia College and State University J. Neal Purcell Chairman of the Board Chairman of the Board and Vice Chairman – Assurance (Ret.) Columbus Bank and Trust Company Chief Executive Officer John P. Illges, III KPMG LLP Daniel Island Company Senior Vice President (Ret.) The Robinson-Humphrey Company, Inc. Robert V. Royall* * Emeritus Director Elizabeth W. Camp Former U.S. Ambassador to Tanzania ** Advisory Director President and Chief Executive Officer Elizabeth R. James ** Chairman of the Board (Ret.) DF Management, Inc. Vice Chairman and Chief People Officer The National Bank of South Carolina Synovus

16 Synovus 2005 Annual Report Online Stock Purchase and Information You can now purchase your initial shares online at synovus.com and easily get current information on your shareholder account 24 hours a day, seven days a week. You will have access to:

View account status View payment history for dividend Purchase or sell shares Make address changes View book-entry information Obtain a duplicate 1099 tax form synovus.com Request certificate issuance Request a dividend check replacement Establish/change your PIN Receive annual meeting material electronically

General Offices Synovus shareholders. You can participate by Form 10-K Investor Relations Synovus submitting a completed enrollment form. If A copy of the Company’s 2005 Annual Analysts, investors and others P.O. Box 120 your shares are held in a brokerage account, Report on Form 10-K, filed with the Securi- seeking additional financial information Columbus, GA 31902-0120 you must first register some or all of your ties and Exchange Commission, is available not available at synovus.com should (706) 649-2311 shares in your name. at no charge upon written request to Investor contact: Relations at the address below. Dividend Reinvestment. You can invest all or a Stock Trading Information part of your cash dividends to accumulate Patrick A. Reynolds Synovus common stock is traded on the more shares without paying fees. Form 10-K SEC and NYSE Certifications Senior Vice President New York Stock Exchange (NYSE) under the Synovus has filed the Chief Executive Director of Investor Relations symbol “SNV”. Optional Cash Investments. You can purchase Officer and Chief Financial Officer certifica- Synovus Price and volume information appears additional shares by investing between a tions required by Section 302 of the P.O. Box 120 under the abbreviation “SynovusFnl” in NYSE minimum of $50 at any one time and Sarbanes-Oxley Act of 2002 as exhibits to its Columbus, GA 31902-0120 daily stock quotation listings. $250,000 in total per calendar year. If you Annual Report on Form 10-K and has (706) 649-5220 • Fax: (706) 644-8065 wish, we can withdraw funds automatically submitted to the NYSE the Chief Executive email: [email protected] Dividend Reinvestment and Direct Stock from your bank account each month to Officer’s annual certification that he is Purchase Plan purchase shares. Purchases are made weekly not aware of any violation by the company Shareholder Services The Synovus Dividend Reinvestment and or more often if volume dictates. Fees are of the NYSE corporate governance listing Current shareholders requiring assis- Direct Stock Purchase Plan provides a lower than those typically charged by the standards. tance should contact Mellon Investor comprehensive package of services designed financial services industry. Services as listed below: to make investing in Synovus stock easy, Safekeeping. You can deposit your certificates convenient and more affordable. Notice of Annual Shareholders’ Meeting with us for safekeeping at no cost to you. You U.S. Mail To request an enrollment package for the 10 a.m. Eastern time, April 27, 2006, in can request a certificate anytime at no cost. the Bill Heard Theatre at the Columbus P.O. Box 3315 Dividend Reinvestment and Direct Stock South Hackensack, NJ 07606-1915 Purchase Plan, or for more information, Gifts and transfers of shares. You can make gifts RiverCenter. Log on to synovus.com to join please visit us at synovus.com on the Internet or transfers to others. our annual shareholders’ meeting from your Registered Mail or Overnight Delivery or call our automated request line at (800) home or office via a live Webcast on the Sale of shares. Whenever you want, you can 480 Washington Blvd. 503-8903. Internet. sell some or all of your shares at fees lower Jersey City, NJ 07310 New investors. You can join the Plan by than those typically charged by the financial making an initial investment of at least $250, services industry. Shares are sold weekly or Telephone Inquiries which includes your enrollment fee of $15. more often if volume dictates. 1-800-503-8903

Cautionary language regarding forward-looking statements: This annual report to shareholders contains forward-looking statements, which by their nature involve risks and uncertainties. Please refer to Synovus’ Annual Report on Form 10-K filed with the Securities and Exchange Commission for information concerning forward-looking statements, under the caption “Safe Harbor Statement,” and for a description of certain factors that may cause actual results to differ from goals referred to herein or contemplated by such statements.

SYNOVUS,® SYNOVUS FINANCIAL CORP.® and the stylized logo are federally registered service marks of Synovus Financial Corp., which also owns a number of other federally registered service marks. Total System Services, Inc.® and TSYS® are federally registered service marks of Total System Services, Inc., which also owns a number of service marks which are registered in the U.S. and other countries. All other products and company names are trademarks or federally registered trademarks of their respective companies. ©Copyright 2006 Synovus Financial Corp. All rights reserved.

Synovus 2005 Annual Report 17 P.O. Box 120 • Columbus, GA 31902

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