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Other Short-term Borrowings and Long-term Debt (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Short-term Borrowings
Other short-term borrowings at December 31, 2022 and 2021 consisted of the following:
(dollars in thousands)20222021
FHLB advances with original maturities of one year or less$600,014 $— 
Securities sold short3,370 200 
Total other short-term borrowings$603,384 $200 
The following table sets forth additional information on Synovus' other short-term borrowings for the years indicated.
(dollars in thousands)20222021
Total balance at December 31,$603,384 $200 
Weighted average interest rate at December 31,4.51 %0.08 %
Maximum month-end balance during the year$1,705,069 $200 
Average amount outstanding during the year466,254 
Weighted average interest rate during the year2.32 %— %
Schedule of Long-term Debt Instruments
The following table presents long-term debt at December 31, 2022 and 2021 net of unamortized discounts, debt issuance costs, and the impact of hedge accounting (refer to "Part II - Item 8. Financial Statements and Supplementary Data - Note 13 - Derivative Instruments" of this Report for additional information).
(dollars in thousands)20222021
Parent Company:
3.125% Senior Notes, issued November 1, 2017, due November 1, 2022, $300.0 million par value with semi-annual interest payments and principal to be paid at maturity
$ $299,479 
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
298,158 297,855 
5.200% Senior Notes issued August 11, 2022, due August 11, 2025, subject to redemption on or after February 11, 2023, $350.0 million par value with semi-annual interest payments in arrears and principal to be paid at maturity
336,332 — 
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 6.57% at December 31, 2022 and 2.00% at December 31, 2021)
10,000 10,000 
Total long-term debt — Parent Company$644,490 $607,334 
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 
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
190,107 197,626 
FHLB advances with weighted average interest rate of 4.56% at December 31, 2022
3,275,000 — 
Total long-term debt — Synovus Bank3,465,107 596,895 
Total long-term debt$4,109,597 $1,204,229 
(1)    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.
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 BankTotal
2023$— 

$500,000 $500,000 
2024— 2,775,000 2,775,000 
2025350,000 — 350,000 
2026— — — 
2027— — — 
Thereafter310,000 200,000 510,000 
Total$660,000 $3,475,000 $4,135,000