Despite the write downs in the 3rd quarter these in all probability are not adequate for the following:

*SNV has a total of 1.5B in loans outstanding;
*1/2 are Residential
*40% are in the Atlanta
*SNV has made significant # of commercial loans in the Atl. market, including large office building and the Florida market. These markets are in a free fall
*Current Reserves are @ 3.49%, this not remotely close to being adequate, reserves should be in the 12% range.
*Colonial Banks, commercial loans were written down 67% by Regions.SNV loans have to reviewed objectively, by a 3rd party. Management has yet to be right!!!

Also, a number of borrower's on construction loans are near completion, with limited leasing, number will default.

Apologize for referring to the street, attempting to avoid a thesis!!

http://finance.yahoo.com/news/Synovus-sh...

TaTa