XML 59 R42.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Derivative Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Summary of Derivative Instruments [Abstract] |
Impact of Derivatives on Balance Sheet | The following table reflects the notional amount and fair value of derivative instruments included on the consolidated balance sheets.
| December 31, 2021 |  | December 31, 2020
|  |  | Fair Value |  |  |  | Fair Value
(in thousands) | Notional Amount |  | Derivative Assets(1) |  | Derivative Liabilities(2) |  | Notional Amount |  | Derivative Assets(1) |  | Derivative Liabilities(2)
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | 3,600,000 |  |  | $ | 22,004 |  |  | $ | 20,395 |  |  | $ | 3,000,000 |  |  | $ | 80,802 |  |  | $ | — |
Total derivatives designated as hedging instruments |  |  | $ | 22,004 |  |  | $ | 20,395 |  |  |  |  | $ | 80,802 |  |  | $ | — |
Derivatives not designated: as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts(3) | $ | 9,653,600 |  |  | $ | 167,560 |  |  | $ | 74,514 |  |  | $ | 8,784,141 |  |  | $ | 314,234 |  |  | $ | 153,204 |
Mortgage derivatives - interest rate lock commitments | 99,006 |  |  | 2,105 |  |  | — |  |  | 306,138 |  |  | 6,259 |  |  | — |
Mortgage derivatives - forward commitments to sell fixed-rate mortgage loans | 105,500 |  |  | — |  |  | 122 |  |  | 230,500 |  |  | — |  |  | 1,611 |
Other contracts(4) | 293,059 |  |  | — |  |  | 36 |  |  | 234,884 |  |  | — |  |  | 304 |
Foreign exchange contracts(5) | 22,387 |  |  | 39 |  |  | — |  |  | 24,125 |  |  |  |  |
Visa derivative | — |  |  | — |  |  | 3,535 |  |  | — |  |  | — |  |  | 2,048 |
Total derivatives not designated as hedging instruments |  |  | $ | 169,704 |  |  | $ | 78,207 |  |  |  |  | $ | 320,493 |  |  | $ | 157,167 |
(1) Derivative assets are recorded in other assets on the consolidated balance sheets. (2) Derivative liabilities are recorded in other liabilities on the consolidated balance sheets. (3) Includes interest rate contracts for client swaps and offsetting positions, net of variation margin payments. (4) Includes risk participation agreements sold. Additionally, the notional amount of risk participation agreements purchased was $81.2 million and $2.6 million at December 31, 2021 and 2020, respectively. (5) The fair value of foreign exchange contracts was negligible at December 31, 2020 due to the very short duration of these contracts.
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table presents the effect of hedging derivative instruments on the consolidated statements of income and the total amounts for the respective line item affected for the years ended December 31, 2021, 2020, and 2019.
(in thousands) | 2021 |  | 2020 |  | 2019
Total amounts presented on the consolidated statements of income in interest income on loans | $ | 31,522 |  |  | $ | 22,215 |  |  | $ | — |
Gain/loss on cash flow hedging relationships:(1) |  |  |  |  |
Interest rate swaps: |  |  |  |  |
Realized gains (losses) reclassified from AOCI, pre-tax, to interest income on loans | 12,862 |  |  | 2,765 |  |  | — |
Pre-tax income recognized on cash flow hedges | $ | 12,862 |  |  | $ | 2,765 |  |  | $ | — |
(1) See "Part II - Item 8. Financial Statements and Supplementary Data - Note 9 - Shareholders' Equity and Other Comprehensive Income" in this Report for additional information.
Effect of Fair Value Hedges on the Consolidated Statements of Income | The pre-tax effect of changes in fair value from derivative instruments not designated as hedging instruments on the consolidated statements of income for the years ended December 31, 2021, 2020 and 2019 is presented below.
|  |  | Gain (Loss) Recognized in Consolidated Statements of Income
|  |  | For The Years Ended December 31,
(in thousands) | Location in Consolidated Statements of Income |  | 2021 |  | 2020 |  | 2019
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate contracts(1) | Capital markets income |  | $ | 100 |  |  | $ | (777) |  |  | $ | (338) |
Other contracts(2) | Capital markets income |  | 269 |  |  | (213) |  |  | (91) |
Foreign exchange contracts | Capital markets income |  | 39 |  |  | — |  |  | — |
Mortgage derivatives - interest rate lock commitments | Mortgage banking income |  | (4,154) |  |  | 4,969 |  |  | 346 |
Mortgage derivatives - forward commitments to sell fixed-rate mortgage loans | Mortgage banking income |  | 1,489 |  |  | (1,443) |  |  | 651 |
Visa derivative | Other non-interest expense |  | 2,656 |  |  | (890) |  |  | (3,611) |
Total derivatives not designated as hedging instruments |  |  | $ | 399 |  |  | $ | 1,646 |  |  | $ | (3,043) |
(1) Gain (loss) represents net fair value adjustments (including credit related adjustments) for client swaps and offsetting positions. Additionally, losses related to termination of client swaps of $2.5 million were recorded in other non-interest expense during 2020. (2) Includes risk participation agreements sold

X
- Definition Effect of Fair Value Hedges on the Consolidated Statements of Income + References No definition available. + Details
Name: | syn_EffectOfFairValueHedgesOnTheConsolidatedStatementsOfIncomeTableTextBlock
Namespace Prefix: | syn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SummaryOfDerivativeInstrumentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration