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Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only) | Note 18 - Condensed Financial Information of Synovus Financial Corp. (Parent Company only)
Condensed Balance Sheets |
| December 31,
(in thousands) | 2022 |  | 2021
Assets |  |  |
Cash due from bank subsidiary | $ | 517,235 |  |  | $ | 389,071 |
Funds due from other depository institutions | 7,250 |  |  | 9,277 |
Total cash, cash equivalents, and restricted cash | 524,485 |  |  | 398,348 |
Investment in consolidated bank subsidiary, at equity | 4,471,207 |  |  | 5,381,311 |
Investment in consolidated nonbank subsidiaries, at equity | 92,349 |  |  | 69,712 |
Note receivable from bank subsidiary | 100,000 |  |  | 100,000 |
Other assets | 19,431 |  |  | 25,538 |
Total assets | $ | 5,207,472 |  |  | $ | 5,974,909 |
Liabilities and Shareholders' Equity |  |  |
Liabilities: |  |  |
Long-term debt | $ | 644,490 |  |  | $ | 607,334 |
Other liabilities | 87,181 |  |  | 70,775 |
Total liabilities | 731,671 |  |  | 678,109 |
Shareholders’ equity: |  |  |
Preferred stock | 537,145 |  |  | 537,145 |
Common stock | 170,141 |  |  | 169,384 |
Additional paid-in capital | 3,920,346 |  |  | 3,894,109 |
Treasury stock | (944,484) |  |  | (931,497) |
Accumulated other comprehensive income (loss), net | (1,442,117) |  |  | (82,321) |
Retained earnings | 2,234,770 |  |  | 1,709,980 |
Total shareholders’ equity | 4,475,801 |  |  | 5,296,800 |
Total liabilities and shareholders’ equity | $ | 5,207,472 |  |  | $ | 5,974,909 |
Condensed Statements of Income |
| Years Ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Income |  |  |  |  |
Cash dividends received from subsidiaries | $ | 350,000 |  |  | $ | 420,000 |  |  | $ | 547,500 |
Interest income | 1,841 |  |  | 777 |  |  | 3,341 |
Other income (loss) | (7,203) |  |  | 1,070 |  |  | 4,966 |
Total income | 344,638 |  |  | 421,847 |  |  | 555,807 |
Expense |  |  |  |  |
Interest expense | 34,154 |  |  | 27,616 |  |  | 42,911 |
Other expense | 17,804 |  |  | 10,300 |  |  | 10,584 |
Total expense | 51,958 |  |  | 37,916 |  |  | 53,495 |
Income before income taxes and equity in undistributed income of subsidiaries | 292,680 |  |  | 383,931 |  |  | 502,312 |
Allocated income tax benefit | (16,667) |  |  | (7,834) |  |  | (12,202) |
Income before equity in undistributed income of subsidiaries | 309,347 |  |  | 391,765 |  |  | 514,514 |
Equity in undistributed income (loss) of subsidiaries | 448,555 |  |  | 368,702 |  |  | (140,819) |
Net income | 757,902 |  |  | 760,467 |  |  | 373,695 |
Dividends on preferred stock | 33,163 |  |  | 33,163 |  |  | 33,163 |
Net income available to common shareholders | $ | 724,739 |  |  | $ | 727,304 |  |  | $ | 340,532 |
Condensed Statements of Comprehensive Income
| Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
(in thousands) |  | Net of Tax Amount |  | Net of Tax Amount |  | Net of Tax Amount
Net income |  | $ | 757,902 |  |  | $ | 760,467 |  |  | $ | 373,695 |
Other comprehensive gain (loss) of bank subsidiary |  | (1,359,796) |  |  | (240,956) |  |  | 92,994 |
Other comprehensive income (loss) |  | (1,359,796) |  |  | (240,956) |  |  | 92,994 |
Comprehensive income (loss) |  | $ | (601,894) |  |  | $ | 519,511 |  |  | $ | 466,689 |
Condensed Statements of Cash Flows |
| Years Ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Operating Activities |  |  |  |  |
Net income | $ | 757,902 |  |  | $ | 760,467 |  |  | $ | 373,695 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in undistributed (income) loss of subsidiaries | (448,555) |  |  | (368,702) |  |  | 140,819 |
Deferred income tax expense (benefit) | 143 |  |  | (7,296) |  |  | 3,962 |
Net increase (decrease) in other liabilities | 3,233 |  |  | (2,082) |  |  | 11,243 |
Net (increase) decrease in other assets | 8,022 |  |  | 5,280 |  |  | 17,441 |
Other, net | 825 |  |  | 928 |  |  | (5,132) |
Net cash provided by (used in) operating activities | 321,570 |  |  | 388,595 |  |  | 542,028 |
Investing Activities |  |  |  |  |
Proceeds from sales of equity securities | — |  |  | — |  |  | 23,141 |
Increase in other investments | (1,027) |  |  | (10,000) |  |  | — |
Net cash provided by (used in) investing activities | (1,027) |  |  | (10,000) |  |  | 23,141 |
Financing Activities |  |  |  |  |
Dividends paid to common and preferred shareholders | (229,311) |  |  | (227,840) |  |  | (223,130) |
Repurchase of common stock | (12,987) |  |  | (199,932) |  |  | (16,246) |
Redemption of long-term debt | (300,000) |  |  | — |  |  | (250,000) |
Proceeds from issuance of long-term debt, net | 347,892 |  |  | — |  |  | — |
Other | — |  |  | (1,104) |  |  | (1,552) |
Net cash provided by (used in) financing activities | (194,406) |  |  | (428,876) |  |  | (490,928) |
Increase (decrease) in cash, cash equivalents, and restricted cash | 126,137 |  |  | (50,281) |  |  | 74,241 |
Cash, cash equivalents, and restricted cash at beginning of year | 398,348 |  |  | 448,629 |  |  | 374,388 |
Cash, cash equivalents, and restricted cash at end of year | $ | 524,485 |  |  | $ | 398,348 |  |  | $ | 448,629 |
See accompanying notes to the audited consolidated financial statements. For the years ended December 31, 2022, 2021, and 2020, the Parent Company paid income taxes of $173.9 million, $203.2 million, and $119.1 million, respectively. For the years ended December 31, 2022, 2021, and 2020, the Parent Comp any paid interest of $29.9 million, $27.3 million, and $42.0 million, respectively.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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