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Segment Reporting
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting
Note 10 - Segment Reporting
Synovus' business segments are based on the products and services provided or the clients served and reflect the manner in which financial information is evaluated by the chief operating decision maker. During the first quarter of 2022, Synovus reorganized its internal management reporting structure to separate the previous Community Banking segment into Consumer Banking and Community Banking segments. Accordingly, its operating segment reporting structure was also updated. Synovus now has four major reportable business segments: Wholesale Banking, Community Banking, Consumer Banking, and Financial Management Services, with functional activities such as treasury, technology, operations, marketing, finance, enterprise risk, legal, human resources, corporate communications, executive management, among others, included in Treasury and Corporate Other.
Business segment results are determined based upon Synovus' management reporting system, which assigns balance sheet and income statement items to each of the business segments. Certain assets, liabilities, revenue, and expense not allocated or attributable to a particular business segment are included in Treasury and Corporate Other. Synovus's third-party lending consumer loans and loans held for sale as well as PPP loans are included in Treasury and Corporate Other. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions.
The Wholesale Banking business segment serves primarily larger corporate and governmental clients by providing commercial lending, capital markets, and deposit services through specialty teams including middle market, CRE, senior housing, national accounts, premium finance, structured lending, healthcare, asset-based lending, public finance, restaurant services, and community investment capital.
The Community Banking business segment primarily serves small and medium-sized commercial clients as well as individual private wealth clients using a relationship-based approach. The commercial component of this segment focuses on locally owned and operated businesses. Private wealth services are delivered to the individuals operating the businesses as well as other individuals in the communities in which the Community Bank operates. A comprehensive set of banking products are offered to the client set including a full suite of lending, payments, and depository products as well as financial planning services.
The Consumer Banking business segment serves individual and small business clients through its branch and ATM network, in addition to digital and telephone channels. This segment provides individuals and small businesses with an array of comprehensive banking products and services including depository accounts, credit and debit cards, payment solutions, goal-based planning, home equity and other consumer loans, and small business lending solutions.
The Financial Management Services business segment serves its clients by providing mortgage and trust services and also specializing in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management, financial planning, and family office services, as well as the provision of individual investment advice on equity and other securities.
Synovus uses a centralized FTP methodology to attribute appropriate net interest income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing matched duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury and Corporate Other function where it can be centrally monitored and managed. Treasury and Corporate Other includes certain assets and/or liabilities managed within that function. Additionally, Treasury and Corporate Other also charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The process for determining FTP is based on a number of factors and assumptions, including prevailing market interest rates, the expected lives of various assets and liabilities, and the Company's broader funding profile.
The following tables present certain financial information for each reportable business segment for the three and six months ended June 30, 2022 and 2021. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable business segment may be periodically revised. Loan and deposit transfers occur from time to time between reportable business segments primarily to maintain the migration of clients between segments. Prior period loan and deposit segment balances are not adjusted for these transfers.
Three Months Ended June 30, 2022
(in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$168,988 $100,892 $103,727 $18,403 $33,378 $425,388 
Non-interest revenue9,285 12,468 22,095 45,195 8,223 97,266 
Non-interest expense27,026 33,083 47,534 44,333 130,075 282,051 
Pre-provision net revenue$151,247 $80,277 $78,288 $19,265 $(88,474)$240,603 
Three Months Ended June 30, 2021
(in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$136,126 $99,200 $103,681 $18,935 $23,918 $381,860 
Non-interest revenue7,000 12,472 19,740 52,345 15,530 107,087 
Non-interest expense21,290 27,543 43,908 46,773 131,017 270,531 
Pre-provision net revenue$121,836 $84,129 $79,513 $24,507 $(91,569)$218,416 
Six Months Ended June 30, 2022
(in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$324,984 $197,018 $201,133 $36,818 $57,682 $817,635 
Non-interest revenue17,683 26,051 43,739 90,359 24,768 202,600 
Non-interest expense53,674 63,503 92,249 88,472 256,603 554,501 
Pre-provision net revenue$288,993 $159,566 $152,623 $38,705 $(174,153)$465,734 
Six Months Ended June 30, 2021
(in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$270,200 $198,340 $210,783 $39,930 $36,463 $755,716 
Non-interest revenue14,319 23,092 38,874 110,928 30,830 218,043 
Non-interest expense42,014 54,463 87,464 94,447 259,277 537,665 
Pre-provision net revenue$242,505 $166,969 $162,193 $56,411 $(191,984)$436,094 
June 30, 2022
(dollars in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Loans, net of deferred fees and costs$23,235,771 $8,449,876 $2,782,037 $5,061,990 $1,675,106 $41,204,780 
Total deposits$11,514,037 $12,326,818 $19,829,216 $593,705 $4,770,924 $49,034,700 
Total full-time equivalent employees310 610 1,505 810 1,770 5,005 
December 31, 2021
(dollars in thousands)Wholesale BankingCommunity BankingConsumer BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Loans, net of deferred fees and costs$21,496,050 $8,231,451 $2,559,892 $4,994,494 $2,030,071 $39,311,958 
Total deposits$12,370,554 $12,557,631 $19,668,846 $826,639 $4,003,606 $49,427,276 
Total full-time equivalent employees284 607 1,532 794 1,670 4,887