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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
Loan Commitments and Letters of Credit | Synovus also invests in tax credit partnerships, CRA partnerships, including SBIC programs, and other investments. The SBIC is a program initiated by the SBA in 1958 to assist in the funding of small business loans.
(in thousands) | March 31, 2024 |  | December 31, 2023
Letters of credit(1) | $ | 176,324 |  |  | $ | 200,269 |
Commitments to fund commercial and industrial loans | 9,748,389 |  |  | 10,313,880 |
Commitments to fund commercial real estate, construction, and land development loans | 2,189,478 |  |  | 2,496,656 |
Commitments under home equity lines of credit | 2,128,208 |  |  | 2,135,120 |
Unused credit card lines | 456,177 |  |  | 453,303 |
Other loan commitments | 636,373 |  |  | 654,396 |
Total letters of credit and unfunded lending commitments | $ | 15,334,949 |  |  | $ | 16,253,624 |
Tax credits, CRA partnerships, and other investments: |  |  |
Carrying amount included in other assets(2) | $ | 571,976 |  |  | $ | 573,992 |
Permanent and short-term construction loans and letter of credit commitments(3) | 160,723 |  |  | 205,659 |
Funded portion of permanent and short-term loans and letters of credit(4) | 227,180 |  |  | 211,921 |
(1) Represents the contractual amount net of risk participations purchased of approximately $18.4 million and $22.8 million at March 31, 2024 and December 31, 2023, respectively. (2) Future funding commitment amounts included in carrying amount within other liabilities of $263.1 million and $293.3 million at March 31, 2024 and December 31, 2023, respectively. (3) Represents the contractual amount net of risk participations of $7.1 million and $9.7 million at March 31, 2024 and December 31, 2023, respectively. (4) Represents the contractual amount net of risk participations of $6.6 million and $4.0 million at March 31, 2024 and December 31, 2023, respectively.

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