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Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only) (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets |
Condensed Balance Sheets |
| December 31
(in thousands) | 2020 |  | 2019
Assets |  |  |
Cash due from bank subsidiary | $ | 439,352 |  |  | $ | 365,111 |
Funds due from other depository institutions | 9,277 |  |  | 9,277 |
Total cash, cash equivalents, and restricted cash | 448,629 |  |  | 374,388 |
Investment in consolidated bank subsidiary, at equity | 5,239,849 |  |  | 5,303,005 |
Investment in consolidated nonbank subsidiaries, at equity | 46,271 |  |  | 43,370 |
Note receivable from bank subsidiary | 100,000 |  |  | 100,000 |
Other assets | 16,975 |  |  | 54,142 |
Total assets | $ | 5,851,724 |  |  | $ | 5,874,905 |
Liabilities and Shareholders' Equity |  |  |
Liabilities: |  |  |
Long-term debt | $ | 606,406 |  |  | $ | 853,897 |
Other liabilities | 83,984 |  |  | 79,318 |
Total liabilities | 690,390 |  |  | 933,215 |
Shareholders’ equity: |  |  |
Preferred stock | 537,145 |  |  | 537,145 |
Common stock | 168,133 |  |  | 166,801 |
Additional paid-in capital | 3,851,208 |  |  | 3,819,336 |
Treasury stock | (731,806) |  |  | (715,560) |
Accumulated other comprehensive income, net | 158,635 |  |  | 65,641 |
Retained earnings | 1,178,019 |  |  | 1,068,327 |
Total shareholders’ equity | 5,161,334 |  |  | 4,941,690 |
Total liabilities and shareholders’ equity | $ | 5,851,724 |  |  | $ | 5,874,905 |
Schedule of Condensed Statements of Operations |
Condensed Statements of Income |
| Years Ended December 31,
(in thousands) | 2020 |  | 2019 |  | 2018
Income |  |  |  |  |
Cash dividends received from subsidiaries | $ | 547,500 |  |  | $ | 400,000 |  |  | $ | 250,000 |
Cash distribution received from non-bank subsidiary | — |  |  | — |  |  | 10,000 |
Interest income | 3,341 |  |  | 5,920 |  |  | 1,703 |
Other income (loss) | 4,966 |  |  | 11,590 |  |  | (3,904) |
Total income | 555,807 |  |  | 417,510 |  |  | 257,799 |
Expenses |  |  |  |  |
Interest expense | 42,911 |  |  | 41,328 |  |  | 25,287 |
Other expenses | 10,584 |  |  | 13,528 |  |  | 21,455 |
Total expenses | 53,495 |  |  | 54,856 |  |  | 46,742 |
Income before income taxes and equity in undistributed income of subsidiaries | 502,312 |  |  | 362,654 |  |  | 211,057 |
Allocated income tax benefit | (12,202) |  |  | (9,753) |  |  | (13,690) |
Income before equity in undistributed income of subsidiaries | 514,514 |  |  | 372,407 |  |  | 224,747 |
Equity in undistributed income (loss) of subsidiaries | (140,819) |  |  | 191,373 |  |  | 203,729 |
Net income | 373,695 |  |  | 563,780 |  |  | 428,476 |
Dividends on preferred stock | 33,163 |  |  | 22,881 |  |  | 17,998 |
Net income available to common shareholders | $ | 340,532 |  |  | $ | 540,899 |  |  | $ | 410,478 |
Schedule of Condensed Statements of Comprehensive Income (Loss) |
Condensed Statements of Comprehensive Income
| December 31, 2020 |  | December 31, 2019 |  | December 31, 2018
(in thousands) | Before-tax Amount |  | Income Tax |  | Net of Tax Amount |  | Before-tax Amount |  | Income Tax |  | Net of Tax Amount |  | Before-tax Amount |  | Income Tax |  | Net of Tax Amount
Net income | $ | 484,665 |  |  | $ | (110,970) |  |  | $ | 373,695 |  |  | $ | 765,015 |  |  | $ | (201,235) |  |  | $ | 563,780 |  |  | $ | 547,354 |  |  | $ | (118,878) |  |  | $ | 428,476 |
Reclassification adjustment for realized (gains) losses included in net income on investment securities available for sale | — |  |  | — |  |  | — |  |  | (22) |  |  | 6 |  |  | (16) |  |  | — |  |  | — |  |  | — |
Other comprehensive gain (loss) of bank subsidiary | 125,505 |  |  | (32,511) |  |  | 92,994 |  |  | 216,032 |  |  | (55,955) |  |  | 160,077 |  |  | (43,447) |  |  | 11,252 |  |  | (32,195) |
Other comprehensive income (loss) | $ | 125,505 |  |  | $ | (32,511) |  |  | $ | 92,994 |  |  | $ | 216,010 |  |  | $ | (55,949) |  |  | $ | 160,061 |  |  | $ | (43,447) |  |  | $ | 11,252 |  |  | $ | (32,195) |
Comprehensive income |  |  |  |  | $ | 466,689 |  |  |  |  |  |  | $ | 723,841 |  |  |  |  |  |  | $ | 396,281 |
Schedule of Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |
| Years Ended December 31,
(in thousands) | 2020 |  | 2019 |  | 2018
Operating Activities |  |  |  |  |
Net income | $ | 373,695 |  |  | $ | 563,780 |  |  | $ | 428,476 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed (income) loss of subsidiaries | 140,819 |  |  | (191,373) |  |  | (203,729) |
Deferred income tax expense | 3,962 |  |  | 1,775 |  |  | 1,055 |
Net increase in other liabilities | 11,243 |  |  | 43,617 |  |  | 9,551 |
Net decrease in other assets | 17,441 |  |  | 3,367 |  |  | 6,723 |
Other, net | (5,132) |  |  | 1,037 |  |  | 1,115 |
Net cash provided by operating activities | 542,028 |  |  | 422,203 |  |  | 243,191 |
Investing Activities |  |  |  |  |
Proceeds from sales of investment securities available for sale | — |  |  | 97,389 |  |  | — |
Advance of long-term note receivable due from bank subsidiary | — |  |  | (100,000) |  |  | — |
Return of investment non-bank subsidiary | — |  |  | 790 |  |  | — |
Proceeds from sales of equity securities | 23,141 |  |  | — |  |  | — |
Net cash received in business combination, net of cash paid | — |  |  | 4,813 |  |  | — |
Net cash provided by investing activities | 23,141 |  |  | 2,992 |  |  | — |
Financing Activities |  |  |  |  |
Dividends paid to common and preferred shareholders | (223,130) |  |  | (185,664) |  |  | (120,202) |
Repurchases of common stock | (16,246) |  |  | (725,398) |  |  | (175,072) |
Redemption of long-term debt | (250,000) |  |  | — |  |  | — |
Proceeds from issuance of long-term debt | — |  |  | 297,174 |  |  | — |
Proceeds from issuance (redemption) of preferred stock, net | — |  |  | 342,005 |  |  | 65,140 |
Other | (1,552) |  |  | (1,947) |  |  | (1,220) |
Net cash used in financing activities | (490,928) |  |  | (273,830) |  |  | (231,354) |
Increase in cash, cash equivalents, and restricted cash | 74,241 |  |  | 151,365 |  |  | 11,837 |
Cash, cash equivalents, and restricted cash at beginning of year | 374,388 |  |  | 223,023 |  |  | 211,186 |
Cash, cash equivalents, and restricted cash at end of year | $ | 448,629 |  |  | $ | 374,388 |  |  | $ | 223,023 |
See accompanying notes to the audited consolidated financial statements.

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