XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans, including fees $ 691,715 $ 629,557
Investment securities available for sale 71,906 61,054
Loans held for sale 578 5,577
Federal Reserve Bank balances 15,031 16,818
Other earning assets 3,480 3,873
Total interest income 782,710 716,879
Interest expense:    
Deposits 332,666 173,935
Long-term debt 29,595 42,529
Other borrowings 1,603 19,664
Total interest expense 363,864 236,128
Net interest income 418,846 480,751
Provision for (reversal of) credit losses 53,980 32,154
Net interest income after provision for (reversal of) credit losses 364,866 448,597
Non-interest revenue:    
Service charges on deposit accounts 21,813 22,974
Fiduciary and asset management fees 19,013 19,696
Card fees 19,486 15,824
Brokerage revenue 22,707 24,204
Mortgage banking income 3,418 3,858
Capital markets income 6,627 15,127
Income from bank-owned life insurance 7,347 7,262
Investment securities gains (losses), net 0 1,030
Recovery of NPA 0 13,126
Other non-interest revenue 18,477 10,025
Total non-interest revenue 118,888 133,126
Non-interest expense:    
Salaries and other personnel expense 188,521 188,924
Net occupancy, equipment, and software expense 46,808 42,860
Third-party processing and other services 20,258 21,833
Professional fees 7,631 8,963
FDIC insurance and other regulatory fees 23,819 10,268
Restructuring charges (reversals) 1,524 (733)
Loss on other loans held for sale 0 16,750
Other operating expense 34,180 32,987
Total non-interest expense 322,741 321,852
Income before income taxes 161,013 259,871
Income tax expense 36,943 57,712
Net income 124,070 202,159
Less: Net income (loss) attributable to noncontrolling interest (437) 0
Net income attributable to Synovus Financial Corp. 124,507 202,159
Less: Preferred stock dividends 9,685 8,291
Net income available to common shareholders $ 114,822 $ 193,868
Net income per common share, basic (in dollars per share) $ 0.78 $ 1.33
Net income per common share, diluted (in dollars per share) $ 0.78 $ 1.32
Weighted average common shares outstanding, basic (in shares) 146,430 145,799
Weighted average common shares outstanding, diluted (in shares) 147,122 146,727