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Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only) (Tables) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets |
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 |
Schedule of Condensed Statements of Income |
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 |
Schedule of Condensed Statements of Comprehensive Income |
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 |
Schedule of Condensed Statements of Cash Flows |
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.

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