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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt at December 31, 2021 and 2020 is presented in the following table:
(dollars in thousands) | 2021 |  | 2020
Parent Company: |  |  |
3.125% senior notes, due November 1, 2022, $300.0 million par value with semi-annual interest payments and principal to be paid at maturity | $ | 299,479 |  |  | $ | 298,853 |
5.90% Fixed-to-Fixed Rate Subordinated Notes issued February 7, 2019, due February 7, 2029, subject to redemption prior to February 7, 2029: $300.0 million par value with semi-annual interest payments at 5.90% for the first five years and semi-annual payments thereafter at a fixed rate of 3.379% above the 5-Year Mid-Swap Rate as of the reset date | 297,855 |  |  | 297,553 |
LIBOR + 1.80% junior subordinated debentures, due June 15, 2035, $10.0 million par value with quarterly interest payments and principal to be paid at maturity (rate of 2.00% at December 31, 2021 and 2.02% at December 31, 2020) | 10,000 |  |  | 10,000 |
Total long-term debt — Parent Company | $ | 607,334 |  |  | $ | 606,406 |
Synovus Bank: |  |  |
2.289% Fixed-to-Floating Rate Senior Bank Notes issued February 12, 2020, due February 10, 2023, subject to redemption on February 10, 2022: $400.0 million par value with semi-annual interest payments at 2.289% for the first two years and quarterly payments thereafter at an adjustable rate equal to the then-current SOFR + 94.5 bps per annum(1) | $ | 399,269 |  |  | $ | 398,594 |
4.00% Fixed-to-Fixed Rate Subordinated Bank Notes issued October 29, 2020, due October 29, 2030, $200.0 million par value with semi-annual interest payments at 4.00% for the first five years and semi-annual payments thereafter at a fixed rate of 3.625% above the 5-Year U.S. Treasury Rate | 197,626 |  |  | 197,349 |
FRB PPP Lending Facility | — |  |  | 145 |
Total long-term debt — Synovus Bank | 596,895 |  |  | 596,088 |
Total long-term debt | $ | 1,204,229 |  |  | $ | 1,202,494 |
(1) Subsequent to December 31, 2021, Synovus Bank called these Notes and settled them on February 10, 2022 with a net payment of $405.3 million that included principal, interest, and written off debt issuance costs. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 19 - Subsequent Event" in this Report for more information.
Schedule of Principal Payments on Long-term Debt | Contractual annual principal payments on long-term debt for the next five years and thereafter are shown in the following table. These maturities are based upon the par value of the long-term debt.
(in thousands) |  | Parent Company |  | Synovus Bank |  | Total
2022 |  | $ | 300,000 |  |  | $ | — |  |  | $ | 300,000 |
2023 |  | — |  |  | 400,000 |  | (1) |  | 400,000 |
2024 |  | — |  |  | — |  |  | — |
2025 |  | — |  |  | — |  |  | — |
2026 |  | — |  |  | — |  |  | — |
Thereafter |  | 310,000 |  |  | 200,000 |  |  | 510,000 |
Total |  | $ | 610,000 |  |  | $ | 600,000 |  |  | $ | 1,210,000 |
(1) Subsequent to December 31, 2021, Synovus Bank called these Notes and settled them on February 10, 2022 with a net payment of $405.3 million that included principal, interest, and written off debt issuance costs. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 19 - Subsequent Event" in this Report for more information.

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