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Condensed Financial Information of Synovus Financial Corp. (Parent Company only)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Synovus Financial Corp. (Parent Company only)

Note 18 - Condensed Financial Information of Synovus Financial Corp. (Parent Company only)

Condensed Balance Sheets
			December 31,
(in thousands)			2024						2023
Assets
Cash due from bank subsidiary			$	859,336					$	573,761
Funds due from other depository institutions			1,201						4,839
Total cash, cash equivalents, and restricted cash			860,537						578,600
Investment in consolidated bank subsidiary, at equity			5,177,551						4,947,888
Investment in consolidated non-bank subsidiaries, at equity			140,793						114,932
Note receivable from bank subsidiary			200,000						100,000
Other assets			28,106						25,943
Total assets			$	6,406,987					$	5,767,363
Liabilities and Shareholders' Equity
Liabilities:
Long-term debt			$	1,046,950					$	552,703
Other liabilities			115,480						94,667
Total liabilities			1,162,430						647,370
Shareholders’ equity:
Preferred stock			537,145						537,145
Common stock			172,186						171,360
Additional paid-in capital			3,986,729						3,955,819
Treasury stock			(1,216,827)						(944,484)
Accumulated other comprehensive income (loss), net			(970,765)						(1,117,073)
Retained earnings			2,736,089						2,517,226
Total shareholders’ equity			5,244,557						5,119,993
Total liabilities and shareholders’ equity			$	6,406,987					$	5,767,363

Condensed Statements of Income
			Years Ended December 31,
(in thousands)			2024						2023						2022
Income
Cash dividends received from subsidiaries			$	450,000					$	435,000					$	350,000
Interest income			6,175						6,129						1,841
Other income (loss)			167						(101)						(7,203)
Total income			456,342						441,028						344,638
Expense
Interest expense			49,424						36,849						34,154
Other expense			19,179						12,494						17,804
Total expense			68,603						49,343						51,958
Income before income taxes and equity in undistributed income of subsidiaries			387,739						391,685						292,680
Allocated income tax benefit			(13,287)						(10,026)						(16,667)
Income before equity in undistributed income of subsidiaries			401,026						401,711						309,347
Equity in undistributed income (loss) of subsidiaries			81,434						141,994						448,555
Net income			482,460						543,705						757,902
Dividends on preferred stock			42,903						35,950						33,163
Net income available to common shareholders			$	439,557					$	507,755					$	724,739

Condensed Statements of Comprehensive Income
			Years Ended December 31,
						2024						2023						2022
(in thousands)						Net of Tax Amount						Net of Tax Amount						Net of Tax Amount
Net income						$	482,460					$	543,705					$	757,902
Other comprehensive gain (loss) of bank subsidiary						146,308						325,044						(1,359,796)
Other comprehensive income (loss)						146,308						325,044						(1,359,796)
Comprehensive income (loss)						$	628,768					$	868,749					$	(601,894)

Condensed Statements of Cash Flows
			Years Ended December 31,
(in thousands)			2024						2023						2022
Operating Activities
Net income			$	482,460					$	543,705					$	757,902
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed (income) loss of subsidiaries			(81,434)						(141,994)						(448,555)
Deferred income tax expense (benefit)			1,090						433						143
Net increase (decrease) in other liabilities			17,071						4,849						3,233
Net (increase) decrease in other assets			(355)						(4,676)						8,022
Other, net			1,111						1,616						825
Net cash provided by (used in) operating activities			419,943						403,933						321,570
Investing Activities
Advance of long-term note receivable due from bank subsidiary			(100,000)						—						—
Increase in other investments			(1,630)						(774)						(1,027)
Net cash provided by (used in) investing activities			(101,630)						(774)						(1,027)
Financing Activities
Dividends paid to common and preferred shareholders			(260,824)						(252,011)						(229,311)
Repurchase of common stock			(272,343)						—						(12,987)
Repayments and redemption of long-term debt			—						(97,033)						(300,000)
Proceeds from issuance of long-term debt, net			496,791						—						347,892
Net cash provided by (used in) financing activities			(36,376)						(349,044)						(194,406)
Increase (decrease) in cash, cash equivalents, and restricted cash			281,937						54,115						126,137
Cash, cash equivalents, and restricted cash at beginning of year			578,600						524,485						398,348
Cash, cash equivalents, and restricted cash at end of year			$	860,537					$	578,600					$	524,485

See accompanying notes to the audited consolidated financial statements.

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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