Other Assets

12 Months Ended

Dec. 31, 2023

Note 6 - Other Assets

Significant balances included in other assets at December 31, 2023 and 2022 are presented below.


(in thousands)	2023		2022
Investments in tax credits and CRA partnerships	$	638,402	$	496,527
Deferred tax assets	510,442		595,317
ROU assets	473,028		421,481
Accrued interest receivable	284,112		226,209
Accounts receivable	195,921		152,460
Federal Reserve Bank and FHLB Stock	184,944		308,321
Derivative asset positions	94,903		89,815
Mutual funds and mutual funds held in rabbi trusts	53,742		42,659
Prepaid expense	47,471		48,152
MPS receivable(1)	19,300		15,320
Trading securities, at fair value	12,898		8,295
Other investments	12,560		11,172
Miscellaneous other assets	59,601		55,910
Total other assets	$	2,587,324	$	2,471,638

(1) See "Part II - Item 8. Financial Statements and Supplementary Data - Note 14 - Commitments and Contingencies" in this Report for more information on the MPS receivable.

As a member of the Federal Reserve System, Synovus is currently required to purchase and hold shares of capital stock in the Federal Reserve Bank of Atlanta (recorded at amortized cost, which approximates fair value, of $133.7 million and $128.6 million at December 31, 2023 and 2022, respectively) in an amount equal to the greater of 6% of its capital and surplus or 0.6% of deposits. As a member of the FHLB, Synovus is also required to purchase and hold shares of capital stock in the FHLB (recorded at amortized cost, which approximates fair value, of $51.3 million and $179.7 million at December 31, 2023 and 2022, respectively) in an amount equal to its membership base investment plus an activity-based investment determined according to the level of outstanding FHLB advances.