Columbus, Ga.-based Synovus is taking a fourth quarter loan loss provision of $350 million with a charge-off ratio of 3.2% due to residential real estate credits in the Atlanta market. The financial services company had originally issued a press release on Jan. 2, which incorrectly stated loan loss provision as $250 million with charge-off ratio of 2.2%. Synovus, with $34 billion in assets, is assessing its goodwill for potential impairment during the fourth quarter. The company plans to release fourth quarter 2008 earnings on Thursday, Jan. 22. For more information, go to http://www.synovus.com.
Processing Content
