XML 34 R22.htm IDEA: XBRL DOCUMENT v3.21.2
Loans and Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2021
Loans and Allowance for Loan Losses [Abstract]  
Schedule of Current, Accruing Past Due, and Non-accrual Loans
The following tables provide a summary of current, accruing past due, and non-accrual loans by portfolio class as of September 30, 2021 and December 31, 2020.
September 30, 2021
(in thousands)CurrentAccruing 30-89 Days Past DueAccruing 90 Days or Greater Past DueTotal Accruing Past DueNon-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$11,671,000 $21,115 $1,573 $22,688 $45,198 $32,151 $11,771,037 
Owner-occupied7,147,006 2,923 688 3,611 6,792 6,342 7,163,751 
Total commercial and industrial18,818,006 24,038 2,261 26,299 51,990 38,493 18,934,788 
Investment properties9,440,485 945 291 1,236 4,345 2,397 9,448,463 
1-4 family properties608,807 927 1,254 2,181 2,419 467 613,874 
Land and development475,911 62 14 76 1,936 — 477,923 
Total commercial real estate10,525,203 1,934 1,559 3,493 8,700 2,864 10,540,260 
Consumer mortgages5,065,749 5,162 47 5,209 37,040 501 5,108,499 
Home equity lines1,293,685 5,549 332 5,881 8,688 — 1,308,254 
Credit cards290,464 1,280 1,282 2,562 — — 293,026 
Other consumer loans2,131,641 16,894 479 17,373 7,189 — 2,156,203 
Total consumer8,781,539 28,885 2,140 31,025 52,917 501 8,865,982 
Loans, net of deferred fees and costs$38,124,748 $54,857 $5,960 $60,817 $113,607 $41,858 $38,341,030 
December 31, 2020
(in thousands)CurrentAccruing 30-89 Days Past DueAccruing 90 Days or Greater Past DueTotal Accruing Past DueNon-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$12,321,514 $10,256 $996 $11,252 $55,527 $21,859 $12,410,152 
Owner-occupied7,087,992 1,913 92 2,005 20,019 — 7,110,016 
Total commercial and industrial19,409,506 12,169 1,088 13,257 75,546 21,859 19,520,168 
Investment properties9,075,843 2,751 154 2,905 24,631 — 9,103,379 
1-4 family properties621,492 3,548 36 3,584 2,383 1,236 628,695 
Land and development591,048 422 — 422 1,899 264 593,633 
Total commercial real estate10,288,383 6,721 190 6,911 28,913 1,500 10,325,707 
Consumer mortgages5,495,415 8,851 485 9,336 8,740 — 5,513,491 
Home equity lines1,521,575 4,006 — 4,006 12,145 — 1,537,726 
Credit cards276,778 2,363 1,877 4,240 — — 281,018 
Other consumer loans1,062,899 9,122 477 9,599 2,376 — 1,074,874 
Total consumer8,356,667 24,342 2,839 27,181 23,261 — 8,407,109 
Loans, net of deferred fees and costs$38,054,556 $43,232 $4,117 $47,349 $127,720 $23,359 $38,252,984 
Loan Portfolio Credit Exposure
The following tables summarize each loan portfolio class by risk grade and origination year as of September 30, 2021 and December 31, 2020 as required under CECL.
September 30, 2021
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20212020201920182017PriorAmortized Cost BasisConverted to Term LoansTotal
Commercial, financial and agricultural
Pass$2,138,319 $1,487,509 $1,029,770 $688,243 $495,111 $1,022,111 $4,456,088 $44,065 $11,361,216 
Special Mention3,019 22,126 14,454 7,994 3,416 2,118 85,126 422 138,675 
Substandard(1)
12,311 58,283 43,888 10,648 21,137 36,784 71,188 984 255,223 
Doubtful(2)
447 — 2,449 13,015 — — 12 — 15,923 
Total commercial, financial and agricultural2,154,096 1,567,918 1,090,561 719,900 519,664 1,061,013 4,612,414 45,471 11,771,037 
Owner-occupied
Pass1,124,258 1,302,576 1,169,910 898,921 793,353 1,265,310 419,099 — 6,973,427 
Special Mention647 1,646 10,783 12,780 6,693 23,689 — — 56,238 
Substandard(1)
1,689 2,777 19,333 51,223 26,089 26,633 — — 127,744 
Doubtful(2)
— — — 6,342 — — — — 6,342 
Total owner-occupied1,126,594 1,306,999 1,200,026 969,266 826,135 1,315,632 419,099 — 7,163,751 
Total commercial and industrial3,280,690 2,874,917 2,290,587 1,689,166 1,345,799 2,376,645 5,031,513 45,471 18,934,788 
Investment properties
Pass1,591,349 1,536,934 2,046,139 1,217,911 782,607 1,466,183 289,154 — 8,930,277 
Special Mention6,127 228 59,292 124,165 77,438 95,525 54,635 — 417,410 
Substandard(1)
1,453 330 8,780 48,755 13,516 27,851 91 — 100,776 
Total investment properties1,598,929 1,537,492 2,114,211 1,390,831 873,561 1,589,559 343,880 — 9,448,463 
1-4 family properties
Pass226,200 109,045 56,027 50,133 59,219 68,597 32,504 — 601,725 
Special Mention195 210 — — — 243 — — 648 
Substandard(1)
1,600 — 832 4,996 917 2,643 513 — 11,501 
Total 1-4 family properties227,995 109,255 56,859 55,129 60,136 71,483 33,017 — 613,874 
September 30, 2021
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20212020201920182017PriorAmortized Cost BasisConverted to Term LoansTotal
Land and development
Pass80,340 50,844 105,188 66,822 61,539 64,609 36,134 — 465,476 
Special Mention— 815 1,926 839 17 343 — — 3,940 
Substandard(1)
— 963 60 3,196 825 3,463 — — 8,507 
Total land and development80,340 52,622 107,174 70,857 62,381 68,415 36,134 — 477,923 
Total commercial real estate1,907,264 1,699,369 2,278,244 1,516,817 996,078 1,729,457 413,031 — 10,540,260 
Consumer mortgages
Pass938,232 1,660,740 646,572 257,873 445,631 1,104,999 655 — 5,054,702 
Substandard(1)
527 3,663 4,796 12,501 5,747 26,342 — — 53,576 
Loss(3)
— — — — — 221 — — 221 
Total consumer mortgages938,759 1,664,403 651,368 270,374 451,378 1,131,562 655 — 5,108,499 
Home equity lines
Pass— — — — — — 1,222,184 70,330 1,292,514 
Substandard(1)
— — — — — — 8,843 5,749 14,592 
Doubtful(2)
— — — — — — — 18 18 
Loss(3)
— — — — — — 989 141 1,130 
Total home equity lines— — — — — — 1,232,016 76,238 1,308,254 
Credit cards
Pass— — — — — — 291,744 — 291,744 
Substandard(1)
— — — — — — 469 — 469 
Loss(4)
— — — — — — 813 — 813 
Total credit cards— — — — — — 293,026 — 293,026 
Other consumer loans
Pass599,241 801,239 153,525 58,391 83,428 108,650 343,651 — 2,148,125 
Substandard(1)
368 825 1,936 1,438 2,412 901 176 — 8,056 
Loss(4)
— — — — — 22 — — 22 
Total other consumer loans599,609 802,064 155,461 59,829 85,840 109,573 343,827 — 2,156,203 
Total consumer1,538,368 2,466,467 806,829 330,203 537,218 1,241,135 1,869,524 76,238 8,865,982 
Loans, net of deferred fees and costs$6,726,322 $7,040,753 $5,375,660 $3,536,186 $2,879,095 $5,347,237 $7,314,068 $121,709 $38,341,030 
(1)    The majority of loans within Substandard risk grade are accruing loans at September 30, 2021.
(2)    Loans within Doubtful risk grade are on non-accrual status and generally have an ALL equal to 50% of the loan amount.
(3)    Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.
(4)    Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an ALL equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Retail Credit Classification Policy.
December 31, 2020
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20202019201820172016PriorAmortized Cost BasisConverted to Term LoansTotal
Commercial, financial and agricultural
Pass$3,819,048 $1,333,460 $847,283 $582,612 $551,413 $633,871 $4,102,751 $49,762 $11,920,200 
Special Mention63,307 40,618 12,723 22,070 1,665 5,545 60,741 489 207,158 
Substandard(1)
28,698 36,618 24,867 36,072 12,808 35,172 84,498 514 259,247 
Doubtful(2)
— 3,721 19,778 — — — 48 — 23,547 
Total commercial, financial and agricultural3,911,053 1,414,417 904,651 640,754 565,886 674,588 4,248,038 50,765 12,410,152 
Owner-occupied
Pass1,321,680 1,275,435 1,131,183 982,056 555,932 1,297,070 349,566 — 6,912,922 
Special Mention6,170 9,995 10,682 14,138 1,582 13,768 — — 56,335 
Substandard(1)
2,570 22,793 42,615 26,033 7,316 29,794 — — 131,121 
Doubtful(2)
— — 9,638 — — — — — 9,638 
Total owner-occupied1,330,420 1,308,223 1,194,118 1,022,227 564,830 1,340,632 349,566 — 7,110,016 
Total commercial and industrial5,241,473 2,722,640 2,098,769 1,662,981 1,130,716 2,015,220 4,597,604 50,765 19,520,168 
Investment properties
Pass1,055,440 2,126,667 1,999,345 1,091,880 483,780 1,301,088 229,044 — 8,287,244 
Special Mention1,482 66,160 176,794 136,004 138,362 129,401 55,440 — 703,643 
Substandard(1)
1,007 4,770 24,476 19,820 21,875 40,509 35 — 112,492 
Total investment properties1,057,929 2,197,597 2,200,615 1,247,704 644,017 1,470,998 284,519 — 9,103,379 
1-4 family properties
Pass197,320 95,145 70,267 88,454 38,729 97,374 27,657 — 614,946 
Special Mention402 — 508 109 786 118 — — 1,923 
Substandard(1)
1,527 653 4,312 1,141 554 2,299 1,340 — 11,826 
Total 1-4 family properties199,249 95,798 75,087 89,704 40,069 99,791 28,997 — 628,695 
Land and development
Pass84,985 173,302 83,734 92,911 12,249 76,380 53,250 — 576,811 
Special Mention857 1,995 2,866 282 — 1,332 636 — 7,968 
Substandard(1)
1,229 425 4,664 915 136 1,485 — — 8,854 
Total land and development87,071 175,722 91,264 94,108 12,385 79,197 53,886 — 593,633 
Total commercial real estate1,344,249 2,469,117 2,366,966 1,431,516 696,471 1,649,986 367,402 — 10,325,707 
December 31, 2020
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20202019201820172016PriorAmortized Cost BasisConverted to Term LoansTotal
Consumer mortgages
Pass1,871,512 874,769 425,711 678,255 685,810 965,382 1,040 — 5,502,479 
Substandard(1)
33 961 748 889 866 7,224 — — 10,721 
Loss(3)
— — — — — 291 — — 291 
Total consumer mortgages1,871,545 875,730 426,459 679,144 686,676 972,897 1,040 — 5,513,491 
Home equity lines
Pass— — — — — — 1,429,755 90,832 1,520,587 
Substandard(1)
— — — — — — 9,698 5,996 15,694 
Doubtful(2)
— — — — — — — 19 19 
Loss(3)
— — — — — — 1,283 143 1,426 
Total home equity lines— — — — — — 1,440,736 96,990 1,537,726 
Credit cards
Pass— — — — — — 279,142 — 279,142 
Substandard(1)
— — — — — — 595 — 595 
Loss(4)
— — — — — — 1,281 — 1,281 
Total credit cards— — — — — — 281,018 — 281,018 
Other consumer loans
Pass252,160 190,820 89,187 100,459 80,365 61,040 297,637 — 1,071,668 
Substandard(1)
19 762 262 1,195 121 585 227 — 3,171 
Loss(4)
— — — — — 35 — — 35 
Total other consumer loans252,179 191,582 89,449 101,654 80,486 61,660 297,864 — 1,074,874 
Total consumer2,123,724 1,067,312 515,908 780,798 767,162 1,034,557 2,020,658 96,990 8,407,109 
Loans, net of deferred fees and costs$8,709,446 $6,259,069 $4,981,643 $3,875,295 $2,594,349 $4,699,763 $6,985,664 $147,755 $38,252,984 
(1)    The majority of loans within Substandard risk grade are accruing loans at December 31, 2020.
(2)    Loans within Doubtful risk grade are on non-accrual status and generally have an ALL equal to 50% of the loan amount.
(3)    Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.
(4)    Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an ALL equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Retail Credit Classification Policy.
Financing Receivable, Allowance for Credit Loss
Rollforward of Allowance for Loan Losses
The following tables detail the changes in the ALL by loan segment for the three and nine months ended September 30, 2021 and 2020.
As Of and For the Three Months Ended September 30, 2021
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at June 30, 2021$254,938 $92,113 $169,657 $516,708 
Charge-offs(20,230)(718)(8,933)(29,881)
Recoveries1,760 4,535 3,070 9,365 
(Reversal of) provision for loan losses(5,961)(4,278)6,290 (3,949)
Ending balance at September 30, 2021$230,507 $91,652 $170,084 $492,243 
As Of and For the Three Months Ended September 30, 2020
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at June 30, 2020$229,915 $171,526 $187,207 $588,648 
Charge-offs(19,367)(6,878)(9,101)(35,346)
Recoveries3,796 1,225 1,859 6,880 
Provision for (reversal of) loan losses46,256 (22,068)19,430 43,618 
Ending balance at September 30, 2020$260,600 $143,805 $199,395 $603,800 
As Of and For the Nine Months Ended September 30, 2021
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at December 31, 2020$229,555 $130,742 $245,439 $605,736 
Charge-offs(48,374)(14,877)(22,808)(86,059)
Recoveries6,027 5,938 6,828 18,793 
Provision for (reversal of) loan losses43,299 (30,151)(59,375)(46,227)
Ending balance at September 30, 2021$230,507 $91,652 $170,084 $492,243 
As Of and For the Nine Months Ended September 30, 2020
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at December 31, 2019$145,782 $67,430 $68,190 $281,402 
Impact from adoption of ASC 326(2,310)(651)85,955 82,994 
Beginning balance, after adoption of ASC 326, at January 1, 2020$143,472 $66,779 $154,145 $364,396 
Charge-offs(57,497)(8,585)(23,917)(89,999)
Recoveries8,798 2,160 6,468 17,426 
Provision for loan losses165,827 83,451 62,699 311,977 
Ending balance at September 30, 2020$260,600 $143,805 $199,395 $603,800 
Troubled Debt Restructurings
Information about Synovus' TDRs is presented in the following tables. Synovus began entering into loan modifications with borrowers in response to the COVID-19 pandemic, some of which have not been classified as TDRs, and therefore are not included in the discussion below. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" in Synovus' 2020 Form 10-K for information on Synovus' loan modifications due to COVID-19. The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the three and nine months ended September 30, 2021 and 2020 that were reported as accruing or non-accruing TDRs.
TDRs by Concession Type
Three Months Ended September 30, 2021
(in thousands, except contract data)Number of ContractsBelow Market Interest Rate
Other Concessions(1)
Total
Commercial, financial and agricultural44 $3,437 $2,642 $6,079 
Owner-occupied10 2,488 469 2,957 
Total commercial and industrial54 5,925 3,111 9,036 
Investment properties2 637 — 637 
1-4 family properties3 — 84 84 
Land and development2 636 17 653 
Total commercial real estate7 1,273 101 1,374 
Consumer mortgages8 1,167 477 1,644 
Home equity lines16 2,655 — 2,655 
Other consumer loans7 44 476 520 
Total consumer31 3,866 953 4,819 
Total TDRs92 $11,064 $4,165 $15,229 
(2)
Three Months Ended September 30, 2020
(in thousands, except contract data)Number of ContractsBelow Market Interest Rate
Other Concessions(1)
Total
Commercial, financial and agricultural42 $3,335 $670 $4,005 
Owner-occupied7 1,753 — 1,753 
Total commercial and industrial49 5,088 670 5,758 
Investment properties2 294 93 387 
1-4 family properties5 74 114 188 
Land and development1 40 — 40 
Total commercial real estate8 408 207 615 
Consumer mortgages3 496 23 519 
Home equity lines17 471 648 1,119 
Other consumer loans3 48 85 133 
Total consumer23 1,015 756 1,771 
Total TDRs80 $6,511 $1,633 $8,144 
(3)
(1)    Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the three months ending September 30, 2021 and 2020.
(2)    No net charge-offs were recorded during the three months ended September 30, 2021.
(3)    No net charge-offs were recorded during the three months ended September 30, 2020.
Nine Months Ended September 30, 2021
(in thousands, except contract data)Number of ContractsBelow Market Interest Rate
Other Concessions(1)
Total
Commercial, financial and agricultural102 $8,440 $6,379 $14,819 
Owner-occupied20 4,897 867 5,764 
Total commercial and industrial122 13,337 7,246 20,583 
Investment properties8 3,040 — 3,040 
1-4 family properties10 621 123 744 
Land and development4 1,003 59 1,062 
Total commercial real estate22 4,664 182 4,846 
Consumer mortgages10 1,498 477 1,975 
Home equity lines43 4,142 258 4,400 
Other consumer loans93 360 5,340 5,700 
Total consumer146 6,000 6,075 12,075 
Total TDRs290 $24,001 $13,503 $37,504 
(2)
Nine Months Ended September 30, 2020
(in thousands, except contract data)Number of ContractsBelow Market Interest Rate
Other Concessions(1)
Total
Commercial, financial and agricultural118 $8,562 $4,681 $13,243 
Owner-occupied19 3,573 1,530 5,103 
Total commercial and industrial137 12,135 6,211 18,346 
Investment properties6 28,963 93 29,056 
1-4 family properties15 867 1,105 1,972 
Land and development3 581 — 581 
Total commercial real estate24 30,411 1,198 31,609 
Consumer mortgages19 1,568 2,589 4,157 
Home equity lines50 926 2,530 3,456 
Other consumer loans50 145 2,779 2,924 
Total consumer119 2,639 7,898 10,537 
Total TDRs280 $45,185 $15,307 $60,492 
(3)
(1)    Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the nine months ending September 30, 2021 and 2020.
(2)    No net charge-offs were recorded during the nine months ended September 30, 2021.
(3)    No net charge-offs were recorded during the nine months ended September 30, 2020.