XML 23 R11.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Loans and Allowance for Loan Losses

Note 3 - Loans and Allowance for Loan Losses

Aging and Non-Accrual Analysis

The following tables provide a summary of current, accruing past due, and non-accrual loans by portfolio class as of March 31, 2024 and December 31, 2023.

			March 31, 2024
(in thousands)			Current						Accruing 30-89 Days Past Due						Accruing 90 Days or Greater Past Due						Total Accruing Past Due						Non-accrual with an ALL						Non-accrual without an ALL						Total
Commercial, financial and agricultural			$	14,415,219					$	7,323					$	1,667					$	8,990					$	173,435					$	19,258					$	14,616,902
Owner-occupied			8,027,707						6,312						157						6,469						49,821						30,397						8,114,394
Total commercial and industrial			22,442,926						13,635						1,824						15,459						223,256						49,655						22,731,296
Investment properties			11,298,410						245						—						245						10,630						1,596						11,310,881
1-4 family properties			576,878						940						20						960						1,958						342						580,138
Land and development			301,651						331						—						331						1,018						—						303,000
Total commercial real estate			12,176,939						1,516						20						1,536						13,606						1,938						12,194,019
Consumer mortgages			5,333,982						8,057						—						8,057						42,563						—						5,384,602
Home equity			1,778,768						13,129						—						13,129						12,451						—						1,804,348
Credit cards			177,054						1,705						1,904						3,609						—						—						180,663
Other consumer loans			994,944						13,024						—						13,024						6,981						—						1,014,949
Total consumer			8,284,748						35,915						1,904						37,819						61,995						—						8,384,562
Loans, net of deferred fees and costs(1)			$	42,904,613					$	51,066					$	3,748					$	54,814					$	298,857					$	51,593					$	43,309,877

			December 31, 2023
(in thousands)			Current						Accruing 30-89 Days Past Due						Accruing 90 Days or Greater Past Due						Total Accruing Past Due						Non-accrual with an ALL						Non-accrual without an ALL						Total
Commercial, financial and agricultural			$	14,355,414					$	12,264					$	1,797					$	14,061					$	66,400					$	23,470					$	14,459,345
Owner-occupied			8,041,573						6,056						149						6,205						70,784						20,586						8,139,148
Total commercial and industrial			22,396,987						18,320						1,946						20,266						137,184						44,056						22,598,493
Investment properties			11,322,516						740						278						1,018						12,796						26,974						11,363,304
1-4 family properties			595,359						87						—						87						2,605						451						598,502
Land and development			353,477						671						—						671						804						—						354,952
Total commercial real estate			12,271,352						1,498						278						1,776						16,205						27,425						12,316,758
Consumer mortgages			5,359,153						6,462						—						6,462						46,108						—						5,411,723
Home equity			1,785,836						10,374						716						11,090						10,473						—						1,807,399
Credit cards			190,299						1,818						2,024						3,842						—						—						194,141
Other consumer loans			1,053,587						15,574						89						15,663						6,697						29						1,075,976
Total consumer			8,388,875						34,228						2,829						37,057						63,278						29						8,489,239
Loans, net of deferred fees and costs(1)			$	43,057,214					$	54,046					$	5,053					$	59,099					$	216,667					$	71,510					$	43,404,490

(1) The amortized cost basis of loans, net of deferred fees and costs excludes accrued interest receivable of $248.0 million and $256.3 million at March 31, 2024 and December 31, 2023, respectively, which is presented as a component of other assets on the consolidated balance sheets.

Pledged Loans

Loans with carrying values of $24.79 billion and $24.31 billion, respectively, were pledged as collateral for borrowings and capacity at March 31, 2024 and December 31, 2023, respectively, to the FHLB and Federal Reserve Bank.

Portfolio Segment Risk Factors

The risk characteristics and collateral information of each portfolio segment are as follows:

Commercial and Industrial Loans - The C&I loan portfolio is comprised of general middle market and commercial banking clients across a diverse set of industries. In accordance with Synovus' lending policy, each loan undergoes a detailed underwriting process, which incorporates uniform underwriting standards and oversight in proportion to the size and complexity of the lending relationship. These loans are secured by collateral such as business equipment, inventory, and real estate. Credit decisions on loans in the C&I portfolio are based on cash flow from the operations of the business as the primary source of repayment of the debt, with underlying real estate or other collateral being the secondary source of repayment.

Commercial Real Estate Loans - CRE loans primarily consist of income-producing investment properties loans. Additionally, CRE loans include 1-4 family properties loans as well as land and development loans. Investment properties loans consist of construction and mortgage loans for income-producing properties and are primarily made to finance multi-family properties, hotels, office buildings, shopping centers, warehouses and other commercial development properties. 1-4 family properties loans include construction loans to homebuilders and commercial mortgage loans related to 1-4 family rental properties and are almost always secured by the underlying property being financed by such loans. These properties are primarily located in the markets served by Synovus. Land and development loans include commercial and residential development as well as land acquisition loans and are secured by land held for future development, typically in excess of one year. Properties securing these loans are substantially within markets served by Synovus, and our preference is to obtain some level of recourse from project sponsors. Loans in this portfolio are underwritten based on the LTV of the collateral and the capacity of the guarantor(s).

Consumer Loans - The consumer loan portfolio consists of a wide variety of loan products offered through Synovus' banking network, including first and second residential mortgages, home equity, and consumer credit card loans, as well as home improvement loans, student, and personal loans from third-party lending ("other consumer loans"). Together, consumer mortgages and home equity comprise the majority of Synovus' consumer loans and are secured by first and second liens on residential real estate primarily located in the markets served by Synovus. The primary source of repayment for all consumer loans is generally the personal income of the borrower(s).

Credit Quality Indicators

The credit quality of the loan portfolio is reviewed and updated no less frequently than annually using the standard asset classification system utilized by the federal banking agencies. These classifications are divided into three groups: Not Criticized (Pass), Special Mention, and Classified or Adverse rating (Substandard, Doubtful, and Loss) and are defined as follows:

Pass - loans which are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell in a timely manner, of any underlying collateral.

Special Mention - loans which have potential weaknesses that deserve management's close attention. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification.

Substandard - loans which are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans with this classification are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - loans which have all the weaknesses inherent in loans categorized as Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently known facts, conditions, and values.

Loss - loans which are considered by management to be uncollectible and of such little value that their continuance on the institution's books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. Synovus fully reserves for any loans rated as Loss.

In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Retail Credit Classification Policy. Additionally, in accordance with Interagency Supervisory Guidance, the risk grade classifications of consumer loans (consumer mortgages and home equity) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of any associated senior liens with other financial institutions.

The following table summarizes each loan portfolio class by risk grade and origination year as of March 31, 2024 and December 31, 2023 as required under CECL.

			March 31, 2024
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2024						2023						2022						2021						2020						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Commercial, financial and agricultural
Pass			$	268,543					$	1,131,289					$	951,139					$	1,374,948					$	759,640					$	1,791,712					$	7,642,905					$	62,340					$	13,982,516
Special Mention			—						6,489						31,616						18,630						926						11,096						144,154						1,865						214,776
Substandard			4,091						20,133						12,763						16,678						40,428						105,084						181,232						4,460						384,869
Doubtful			—						—						—						20,676						225						—						13,206						—						34,107
Loss			—						—						—						—						—						—						634						—						634
Total commercial, financial and agricultural			272,634						1,157,911						995,518						1,430,932						801,219						1,907,892						7,982,131						68,665						14,616,902
Current YTD Period:
Gross charge-offs			—						15,893						2,699						617						592						1,394						9,577						—						30,772
Owner-occupied
Pass			151,179						910,990						1,534,357						1,455,287						917,280						2,055,182						685,510						—						7,709,785
Special Mention			—						1,911						6,835						22,203						29,121						30,108						42,918						—						133,096
Substandard			198						4,248						35,101						29,861						59,296						90,503						35,900						—						255,107
Doubtful			—						—						—						—						—						—						16,406						—						16,406
Total owner-occupied			151,377						917,149						1,576,293						1,507,351						1,005,697						2,175,793						780,734						—						8,114,394
Current YTD Period:
Gross charge-offs			—						76						—						—						1,131						5,964						—						—						7,171
Total commercial and industrial			424,011						2,075,060						2,571,811						2,938,283						1,806,916						4,083,685						8,762,865						68,665						22,731,296
Current YTD Period:
Gross charge-offs			$	—					$	15,969					$	2,699					$	617					$	1,723					$	7,358					$	9,577					$	—					$	37,943
Investment properties
Pass			73,903						659,935						3,247,783						2,867,625						982,612						2,771,003						208,975						—						10,811,836
Special Mention			—						—						75,686						97,938						43,937						81,937						—						—						299,498
Substandard			—						2,186						2,993						128,672						2,067						56,528						—						—						192,446
Doubtful			—						—						—						—						—						7,096						—						—						7,096
Loss			—						—						—						—						—						5						—						—						5
Total investment properties			73,903						662,121						3,326,462						3,094,235						1,028,616						2,916,569						208,975						—						11,310,881
Current YTD Period:
Gross charge-offs			—						—						—						—						—						3,608						—						—						3,608
1-4 family properties
Pass			38,726						147,560						130,546						109,133						30,807						71,238						44,211						—						572,221
Special Mention			1,015						959						994						378						181						308						—						—						3,835
Substandard			—						832						62						1,109						355						1,679						45						—						4,082
Total 1-4 family properties			39,741						149,351						131,602						110,620						31,343						73,225						44,256						—						580,138
Current YTD Period:
Gross charge-offs			—						103						—						—						—						—						—						—						103

			March 31, 2024
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2024						2023						2022						2021						2020						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Land and development
Pass			9,357						105,680						72,386						30,945						9,348						70,900						—						—						298,616
Special Mention			—						—						490						31						—						1,258						—						—						1,779
Substandard			—						569						—						42						372						1,622						—						—						2,605
Total land and development			9,357						106,249						72,876						31,018						9,720						73,780						—						—						303,000
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						—						—						—
Total commercial real estate			123,001						917,721						3,530,940						3,235,873						1,069,679						3,063,574						253,231						—						12,194,019
Current YTD Period:
Gross charge-offs			$	—					$	103					$	—					$	—					$	—					$	3,608					$	—					$	—					$	3,711
Consumer mortgages
Pass			103,248						753,144						754,846						1,021,620						1,193,450						1,499,082						314						—						5,325,704
Substandard			12						562						2,891						5,682						16,334						33,375						—						—						58,856
Loss			—						—						—						—						—						42						—						—						42
Total consumer mortgages			103,260						753,706						757,737						1,027,302						1,209,784						1,532,499						314						—						5,384,602
Current YTD Period:
Gross charge-offs			—						—						—						—						3						102						—						—						105
Home equity
Pass			—						—						—						—						—						—						1,315,317						474,095						1,789,412
Substandard			—						—						—						—						—						—						9,462						5,221						14,683
Loss			—						—						—						—						—						—						169						84						253
Total home equity			—						—						—						—						—						—						1,324,948						479,400						1,804,348
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						—						32						32
Credit cards
Pass			—						—						—						—						—						—						178,762						—						178,762
Substandard			—						—						—						—						—						—						648						—						648
Loss			—						—						—						—						—						—						1,253						—						1,253
Total credit cards			—						—						—						—						—						—						180,663						—						180,663
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						2,055						—						2,055
Other consumer loans
Pass			39,619						110,171						163,968						195,667						103,235						125,442						268,696						—						1,006,798
Substandard			—						1,095						791						3,903						1,425						833						79						—						8,126
Loss			—						—						—						—						—						—						25						—						25
Total other consumer loans			39,619						111,266						164,759						199,570						104,660						126,275						268,800						—						1,014,949
Current YTD Period:
Gross charge-offs			—						692						1,664						2,402						704						603						657						—						6,722
Total consumer			142,879						864,972						922,496						1,226,872						1,314,444						1,658,774						1,774,725						479,400						8,384,562
Current YTD Period:
Gross charge-offs			$	—					$	692					$	1,664					$	2,402					$	707					$	705					$	2,712					$	32					$	8,914
Loans, net of deferred fees and costs			$	689,891					$	3,857,753					$	7,025,247					$	7,401,028					$	4,191,039					$	8,806,033					$	10,790,821					$	548,065					$	43,309,877
Current YTD Period:
Gross charge-offs			$	—					$	16,764					$	4,363					$	3,019					$	2,430					$	11,671					$	12,289					$	32					$	50,568

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2023						2022						2021						2020						2019						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Commercial, financial and agricultural
Pass			$	1,078,790					$	1,040,742					$	1,408,178					$	782,069					$	636,341					$	1,236,433					$	7,623,255					$	46,908					$	13,852,716
Special Mention			5,298						8,276						20,027						1,950						2,552						8,412						141,580						—						188,095
Substandard			36,557						14,742						35,744						37,186						88,940						21,032						182,069						1,685						417,955
Loss			—						—						—						—						—						355						224						—						579
Total commercial, financial and agricultural			1,120,645						1,063,760						1,463,949						821,205						727,833						1,266,232						7,947,128						48,593						14,459,345
Current YTD Period:
Gross charge-offs			9,367						3,436						8,175						19,532						1,165						2,071						30,696						203						74,645
Owner-occupied
Pass			859,887						1,521,469						1,501,405						958,620						710,634						1,401,416						782,180						—						7,735,611
Special Mention			1,709						9,114						22,562						2,593						4,689						48,640						79,031						—						168,338
Substandard			4,388						24,760						13,616						59,478						17,702						87,306						27,949						—						235,199
Total owner-occupied			865,984						1,555,343						1,537,583						1,020,691						733,025						1,537,362						889,160						—						8,139,148
Current YTD Period:
Gross charge-offs			—						—						433						6,836						1,544						2,862						—						—						11,675
Total commercial and industrial			1,986,629						2,619,103						3,001,532						1,841,896						1,460,858						2,803,594						8,836,288						48,593						22,598,493
Current YTD Period:
Gross charge-offs			$	9,367					$	3,436					$	8,608					$	26,368					$	2,709					$	4,933					$	30,696					$	203					$	86,320
Investment properties
Pass			593,540						3,140,041						2,863,327						1,161,697						1,052,638						1,900,744						261,737						—						10,973,724
Special Mention			—						1,616						169,550						—						48,429						33,903						—						—						253,498
Substandard			2,083						4,070						41,278						1,455						1,622						75,850						—						—						126,358
Doubtful			—						—						—						—						—						9,714						—						—						9,714
Loss			—						—						—						—						—						10						—						—						10
Total investment properties			595,623						3,145,727						3,074,155						1,163,152						1,102,689						2,020,221						261,737						—						11,363,304
Current YTD Period:
Gross charge-offs(1)			546						7,685						5,668						3,801						1,893						22,647						3,109						—						45,349
1-4 family properties
Pass			167,729						142,930						119,054						31,928						29,740						55,243						42,099						—						588,723
Special Mention			3,104						947						—						184						—						311						1						—						4,547
Substandard			1,721						822						643						465						324						1,212						45						—						5,232
Total 1-4 family properties			172,554						144,699						119,697						32,577						30,064						56,766						42,145						—						598,502
Current YTD Period:
Gross charge-offs			—						—						—						—						—						24						—						—						24
Land and development
Pass			105,609						84,962						35,993						16,131						18,616						59,605						888						—						321,804
Special Mention			—						496						—						—						—						774						—						—						1,270
Substandard			29,204						411						74						—						593						1,596						—						—						31,878
Total land and development			134,813						85,869						36,067						16,131						19,209						61,975						888						—						354,952
Current YTD Period:
Gross charge-offs			—						—						—						77						—						—						—						—						77
Total commercial real estate			902,990						3,376,295						3,229,919						1,211,860						1,151,962						2,138,962						304,770						—						12,316,758
Current YTD Period:
Gross charge-offs			$	546					$	7,685					$	5,668					$	3,878					$	1,893					$	22,671					$	3,109					$	—					$	45,450

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2023						2022						2021						2020						2019						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Consumer mortgages
Pass			$	757,485					$	784,898					$	1,044,442					$	1,219,397					$	410,511					$	1,136,541					$	35					$	—					$	5,353,309
Substandard			564						2,810						5,517						15,913						9,478						23,662						—						—						57,944
Loss			—						—						—						—						—						470						—						—						470
Total consumer mortgages			758,049						787,708						1,049,959						1,235,310						419,989						1,160,673						35						—						5,411,723
Current YTD Period:
Gross charge-offs			—						108						251						403						402						965						5						—						2,134
Home equity
Pass			—						—						—						—						—						—						1,308,934						482,679						1,791,613
Substandard			—						—						—						—						—						—						10,231						5,297						15,528
Loss			—						—						—						—						—						—						174						84						258
Total home equity			—						—						—						—						—						—						1,319,339						488,060						1,807,399
Current YTD Period:
Gross charge-offs			—						—						—						—						—						79						819						229						1,127
Credit cards
Pass			—						—						—						—						—						—						192,217						—						192,217
Substandard			—						—						—						—						—						—						702						—						702
Loss			—						—						—						—						—						—						1,222						—						1,222
Total credit cards			—						—						—						—						—						—						194,141						—						194,141
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						7,165						—						7,165
Other consumer loans
Pass			134,969						181,455						219,415						114,006						28,256						112,724						277,368						—						1,068,193
Substandard			573						963						3,811						1,182						568						494						192						—						7,783
Total other consumer loans			135,542						182,418						223,226						115,188						28,824						113,218						277,560						—						1,075,976
Current YTD Period:
Gross charge-offs(1)			627						6,040						24,231						3,625						1,971						2,026						2,358						—						40,878
Total consumer			893,591						970,126						1,273,185						1,350,498						448,813						1,273,891						1,791,075						488,060						8,489,239
Current YTD Period:
Gross charge-offs			$	627					$	6,148					$	24,482					$	4,028					$	2,373					$	3,070					$	10,347					$	229					$	51,304
Loans, net of deferred fees and costs			$	3,783,210					$	6,965,524					$	7,504,636					$	4,404,254					$	3,061,633					$	6,216,447					$	10,932,133					$	536,653					$	43,404,490
Current YTD Period:
Gross charge-offs			$	10,540					$	17,269					$	38,758					$	34,274					$	6,975					$	30,674					$	44,152					$	432					$	183,074

(1)    Includes $31.3 million in gross charge-offs related to the transfer of certain loans to held for sale that sold during 2023.

Collateral-Dependent Loans

We classify a loan as collateral-dependent when our borrower is experiencing financial difficulty, and we expect repayment to be provided substantially through the operation or sale of collateral. Our commercial loans have collateral that is comprised of real estate and business assets. Our consumer loans have collateral that is substantially comprised of residential real estate.

There were no material changes in the extent to which collateral secures our collateral-dependent loans during the three months ended March 31, 2024.

Rollforward of Allowance for Loan Losses

The following tables detail the changes in the ALL by loan segment for the three months ended March 31, 2024 and 2023. During the three months ended March 31, 2024, Synovus had no significant transfers to loans held for sale. During the three months ended March 31, 2023, Synovus charged-off $6.6 million in previously established reserves for credit losses associated with the transfer of $424.1 million in certain third-party consumer loans to held for sale as part of our overall balance sheet management strategy.

			As Of and For the Three Months Ended March 31, 2024
(in thousands)			Commercial & Industrial						Commercial Real Estate						Consumer						Total
Allowance for loan losses:
Beginning balance at December 31, 2023			$	218,970					$	133,758					$	126,657					$	479,385
Charge-offs			(37,943)						(3,711)						(8,914)						(50,568)
Recoveries			3,288						767						2,157						6,212
Provision for (reversal of) loan losses			29,167						21,813						6,652						57,632
Ending balance at March 31, 2024			$	213,482					$	152,627					$	126,552					$	492,661
			As Of and For the Three Months Ended March 31, 2023
(in thousands)			Commercial & Industrial						Commercial Real Estate						Consumer						Total
Allowance for loan losses:
Beginning balance at December 31, 2022			$	161,550					$	143,575					$	138,299					$	443,424
Charge-offs			(7,873)						(96)						(17,366)						(25,335)
Recoveries			3,476						284						3,025						6,785
Provision for (reversal of) loan losses			1,535						16,629						13,972						32,136
Ending balance at March 31, 2023			$	158,688					$	160,392					$	137,930					$	457,010

The ALL of $492.7 million and the reserve for unfunded commitments of $53.6 million, which is recorded in other liabilities, comprise the total ACL of $546.2 million at March 31, 2024. The ACL increased $9.6 million compared to the December 31, 2023 ACL of $536.6 million, which consisted of the ALL of $479.4 million and the reserve for unfunded commitments of $57.2 million. The ACL to loans coverage ratio was 1.26% at March 31, 2024, compared to 1.24% at December 31, 2023. The increase in the ACL from December 31, 2023 resulted primarily from credit performance that included downward migration and a qualitative adjustment that offset improved economic inputs and net charge-offs.

The ACL is estimated using a two-year reasonable and supportable forecast period. To the extent the lives of the loans in the portfolio extend beyond the period for which a reasonable and supportable forecast can be made, the Company reverts on a straight-line basis back to the historical rates over a one-year period. Synovus utilizes multiple economic forecast scenarios sourced from a reputable third-party provider that are probability-weighted internally. The current scenarios include a consensus baseline forecast, an upside scenario reflecting an accelerated recovery, a downside scenario that reflects adverse economic conditions, and an additional adverse scenario that assumes consistent slow growth that is less optimistic than the baseline. At March 31, 2024, the unemployment rate is the input that most significantly impacts our estimate. The multi-scenario forecast used in our estimate includes a weighted average unemployment rate of 4.4% over the forecasted period at March 31, 2024, compared to 4.5% at December 31, 2023.

Financial Difficulty Modifications

When borrowers are experiencing financial difficulty, Synovus may make certain loan modifications as part of its loss mitigation strategies to maximize expected payment. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" of Synovus' 2023 Form 10-K for additional information regarding accounting policies for FDMs.

The following tables present the amortized cost of FDM loans by loan portfolio class that were modified during the three months ended March 31, 2024 and 2023.

			Three Months Ended March 31, 2024
(in thousands)			Interest Rate Reduction						Term Extension												Payment Delay						Interest Rate Reduction and Term Extension												Total						Percentage of Total by Financing Class
Commercial, financial and agricultural			$	—					$	1,374											$	—					$	8,142											$	9,516					0.1		%
Owner-occupied			—						198												—						—												198						—
Total commercial and industrial			—						1,572												—						8,142												9,714						—
Investment properties			—						2,244												—						—												2,244						—
1-4 family properties			—						—												—						—												—						—
Land and development			—						—												—						—												—						—
Total commercial real estate			—						2,244												—						—												2,244						—
Consumer mortgages			123						—												210						—												333						—
Home equity			—						11												—						—												11						—
Credit cards			—						—												—						—												—						—
Other consumer loans			121						257												—						3												381						—
Total consumer			244						268												210						3												725						—
Total FDMs			$	244					$	4,084											$	210					$	8,145											$	12,683					—		%

			Three Months Ended March 31, 2023
(in thousands)			Interest Rate Reduction						Term Extension																		Interest Rate Reduction and Term Extension												Total						Percentage of Total by Financing Class
Commercial, financial and agricultural			$	49					$	16,321																	$	247											$	16,617					0.1		%
Owner-occupied			—						1,468																		41,263												42,731						0.5
Total commercial and industrial			49						17,789																		41,510												59,348						0.3
Investment properties			—						—																		—												—						—
1-4 family properties			—						1,339																		—												1,339						0.2
Land and development			—						—																		—												—						—
Total commercial real estate			—						1,339																		—												1,339						—
Consumer mortgages			113						—																		—												113						—
Home equity			—						88																		15												103						—
Credit cards			—						—																		—												—						—
Other consumer loans			64						141																		231												436						—
Total consumer			177						229																		246												652						—
Total FDMs			$	226					$	19,357																	$	41,756											$	61,339					0.1		%

The following tables present the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023.

						Three Months Ended March 31, 2024
(Dollars in thousands)									Weighted Average Interest Rate Reduction						Weighted Average Term Extension (in months)						Weighted Average Payment Deferral (in months)
Commercial, financial and agricultural									—		%				18						—
Owner-occupied									—						60						—
Investment properties									—						12						—
Consumer mortgages									2.3						—						7
Home equity									—						243						—
Other consumer loans									2.5						75						—

									Three Months Ended March 31, 2023
(Dollars in thousands)									Weighted Average Interest Rate Reduction						Weighted Average Term Extension (in months)
Commercial, financial and agricultural									3.3		%				8
Owner-occupied									1.7						9
1-4 family properties									—						12
Consumer mortgages									2.2						—
Home equity									1.1						334
Other consumer loans									3.5						68

During the three months ended March 31, 2024, commercial, financial and agricultural loans of $71.6 million defaulted that were previously modified in the prior 12 months by receiving a term extension. Defaults are defined as the earlier of the FDM being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments. During the three months ended March 31, 2023, there were no FDMs that subsequently defaulted. As of March 31, 2024 and December 31, 2023, there were no commitments to lend a material amount of additional funds to any borrower whose loan was classified as a FDM.

Synovus monitors the performance of FDMs to understand the effectiveness of its modification efforts. The following table provides a summary of current, accruing past due, and non-accrual loans on an amortized cost basis by loan portfolio class that have been modified during the 12 months prior to March 31, 2024.

			As of March 31, 2024
(in thousands)			Current						Accruing 30-89 Days Past Due						Accruing 90 Days or Greater Past Due												Non-accrual						Total
Commercial, financial and agricultural			$	54,662					$	79					$	—											$	79,810					$	134,551
Owner-occupied			33,829						—						—												751						34,580
Total commercial and industrial			88,491						79						—												80,561						169,131
Investment properties			3,130						—						—												—						3,130
1-4 family properties			65						—						—												342						407
Land and development			1,117						—						—												—						1,117
Total commercial real estate			4,312						—						—												342						4,654
Consumer mortgages			1,230						187						—												1,370						2,787
Home equity			618						—						—												—						618
Credit cards			—						—						—												—						—
Other consumer loans			1,032						245						—												247						1,524
Total consumer			2,880						432						—												1,617						4,929
Total FDMs			$	95,683					$	511					$	—											$	82,520					$	178,714

The following table provides a summary of current, accruing past due, and non-accrual loans on an amortized cost basis by loan portfolio class that were modified on or after January 1, 2023, the date Synovus adopted ASU 2022-02, through March 31, 2023.

			As of March 31, 2023
(in thousands)			Current						Accruing 30-89 Days Past Due						Accruing 90 Days or Greater Past Due												Non-accrual (1)						Total
Commercial, financial and agricultural			$	16,028					$	—					$	—											$	589					$	16,617
Owner-occupied			42,731						—						—												—						42,731
Total commercial and industrial			58,759						—						—												589						59,348
Investment properties			—						—						—												—						—
1-4 family properties			1,339						—						—												—						1,339
Land and development			—						—						—												—						—
Total commercial real estate			1,339						—						—												—						1,339
Consumer mortgages			—						—						—												113						113
Home equity			103						—						—												—						103
Credit cards			—						—						—												—						—
Other consumer loans			22						—						—												414						436
Total consumer			125						—						—												527						652
Total FDMs			$	60,223					$	—					$	—											$	1,116					$	61,339

(1)    Loans were on non-accrual when modified and subsequently classified as FDMs.

X

- Definition

The entire disclosure for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481933/310-10-55-12A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 44
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-44

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//310-10/tableOfContent

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//310-20/tableOfContent

+ Details

Name:	us-gaap_FinancingReceivablesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration