Synovus reaffirmed its capital position Friday in an effort to dispel worries about its credit and earnings position.
Synovus said it is not under a regulatory requirement to raise additional capital. It also said its capital position remains strong.
Several brokerage firms recently cited capital concerns about Synovus.
Chief Executive Richard Anthony said in a news release that Synovus continues to manage its credit in "a proactive and aggressive manner."
He said that he remains confident that the Columbus, Ga., company has the opportunity to achieve profitability in 2010.
Shares of Synovus have fallen 57% in the past three months, but rose Friday 6.04% to $1.93.
In late October, analysts at Citigroup wrote that despite sizable losses already realized, Synovus' capital will likely remain under pressure. The analysts added that they expect the company to come out of the credit cycle needing up to $400 million more in capital. Morgan Keegan downgraded Synovus shares to "market perform" from "outperform" Wednesday.
