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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information and Financing Receivables, by Segment

The following tables present certain financial information for each reportable business segment for the years ended December 31, 2024, 2023, and 2022 and as of December 31, 2024 and 2023. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable business segment may be periodically revised. Loan and deposit transfers occur from time to time between reportable business segments primarily to maintain the migration of clients and relationship

managers between segments; however, prior period loan and deposit balances and any related net interest income and FTP are not adjusted for transfers.

			Year Ended December 31, 2024
(in thousands)			Wholesale Banking						Community Banking						Consumer Banking						Financial Management Services						Treasury and Corporate Other						Synovus Consolidated
Net interest income (expense)			$	736,306					$	398,382					$	544,248					$	101,139					$	(30,498)					$	1,749,577
Provision for (reversal of) credit losses			124,350						40,612						20,689						16,003						(64,969)						136,685
Net interest income after provision for credit losses			611,956						357,770						523,559						85,136						34,471						1,612,892
Service charges on deposit accounts			21,205						28,140						41,187						16						1,099						91,647
Fiduciary and asset management fees			—						—						—						79,828						—						79,828
Card fees			11						31,658						26,782						—						18,469						76,920
Brokerage revenue			—						—						—						84,881						—						84,881
Mortgage banking income			—						—						—						14,060						—						14,060
Capital markets income			24,521						6,843						23						573						12,098						44,058
Other non-interest revenue(1)			11,277						3,212						7,222						7,411						(180,912)						(151,790)
Total non-interest revenue			57,014						69,853						75,214						186,769						(149,246)						239,604
Salaries and other personnel expense			91,170						106,776						118,421						123,858						297,242						737,467
Other operating expense(2)			40,477						49,715						83,021						29,930						306,933						510,076
Total non-interest expense			131,647						156,491						201,442						153,788						604,175						1,247,543
Income (loss) before income taxes			$	537,323					$	271,132					$	397,331					$	118,117					$	(718,950)					$	604,953

(1) Treasury and Corporate Other includes net losses of $256.7 million primarily due to the strategic repositioning of the investment securities portfolio in the second quarter of 2024.

(2) Other operating expense for each reportable segment primarily includes:

a.Wholesale Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

b.Community Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

c.Consumer Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

d.Financial Management Services - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, FDIC insurance, and other regulatory fees.

			Year Ended December 31, 2023
(in thousands)			Wholesale Banking						Community Banking						Consumer Banking						Financial Management Services						Treasury and Corporate Other						Synovus Consolidated
Net interest income (expense)			$	806,399					$	429,937					$	614,338					$	73,906					$	(107,925)					$	1,816,655
Provision for credit losses			114,886						38,435						19,848						14,386						1,524						189,079
Net interest income after provision for credit losses			691,513						391,502						594,490						59,520						(109,449)						1,627,576
Service charges on deposit accounts			17,774						26,291						45,090						17						924						90,096
Fiduciary and asset management fees			—						—						—						78,077						—						78,077
Card fees			10						24,811						28,122						—						19,414						72,357
Brokerage revenue			—						—						—						90,004						—						90,004
Mortgage banking income			—						—						—						15,157						—						15,157
Capital markets income			22,257						2,863						9						5,934						7,982						39,045
Other non-interest revenue(1)			11,877						15,407						6,650						5,997						(20,657)						19,274
Total non-interest revenue			51,918						69,372						79,871						195,186						7,663						404,010
Salaries and other personnel expense			97,275						100,293						115,490						131,846						283,474						728,378
Other operating expense(2)(3)			65,299						45,533						89,037						34,914						372,263						607,046
Total non-interest expense			162,574						145,826						204,527						166,760						655,737						1,335,424
Income (loss) before income taxes			$	580,857					$	315,048					$	469,834					$	87,946					$	(757,523)					$	696,162

(1) Treasury and Corporate Other includes net losses of $76.7 million primarily due to the strategic repositioning of the investment securities portfolio in the fourth quarter of 2023.

(2) Other operating expense for each reportable segment primarily includes:

a.Wholesale Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, FDIC insurance and other regulatory fees, and a $28.0 million loss on other loans held for sale for the $1.17 billion medical office buildings loans sale.

b.Community Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

c.Consumer Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

d.Financial Management Services - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, FDIC insurance, and other regulatory fees.

(3) Treasury and Corporate Other includes a $51.0 million expense as a result of an FDIC special assessment charge to certain banks to cover losses incurred by the Deposit Insurance Fund (DIF) due to bank failures in the first half of 2023. In addition, a $22.1 million loss on other loans held for sale was recorded in Treasury and Corporate Other for the $421.7 million third-party consumer loans sale in 2023.

			Year Ended December 31, 2022
(in thousands)			Wholesale Banking						Community Banking						Consumer Banking						Financial Management Services						Treasury and Corporate Other						Synovus Consolidated
Net interest income (expense)(1)			$	691,535					$	412,660					$	465,840					$	69,539					$	157,326					$	1,796,900
Provision for (reversal of) credit losses			76,009						41,214						21,140						13,613						(67,423)						84,553
Net interest income after provision for credit losses			615,526						371,446						444,700						55,926						224,749						1,712,347
Service charges on deposit accounts			14,744						26,216						51,073						63						971						93,067
Fiduciary and asset management fees			—						—						—						78,414						—						78,414
Card fees			9						16,529						27,945						—						17,350						61,833
Brokerage revenue			—						—						—						72,605						—						72,605
Mortgage banking income			—						—						—						17,476						—						17,476
Capital markets income			11,938						5,738						—						9,069						9,541						36,286
Other non-interest revenue			12,571						1,594						7,552						5,234						22,704						49,655
Total non-interest revenue			39,262						50,077						86,570						182,861						50,566						409,336
Salaries and other personnel expense			87,874						88,149						104,987						138,646						262,054						681,710
Other operating expense(2)			29,757						39,702						92,375						32,008						281,954						475,796
Total non-interest expense			117,631						127,851						197,362						170,654						544,008						1,157,506
Income (loss) before income taxes			$	537,157					$	293,672					$	333,908					$	68,133					$	(268,693)					$	964,177

(1) Treasury and Corporate Other includes PPP fees of $12.6 million.

(2) Other operating expense for each reportable segment primarily includes:

a.Wholesale Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

b.Community Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

c.Consumer Banking - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance and other regulatory fees.

d.Financial Management Services - net occupancy, equipment, and software expense, third-party processing and other services, professional fees, and FDIC insurance, and other regulatory fees.

			December 31, 2024
(dollars in thousands)			Wholesale Banking						Community Banking									Consumer Banking						Financial Management Services						Treasury and Corporate Other						Synovus Consolidated
Loans, net of deferred fees and costs			$	24,677,119					$	7,921,182								$	2,776,305					$	5,263,474					$	1,970,948					$	42,609,028
Deposits			$	15,207,166					$	10,877,394								$	18,365,142					$	1,109,270					$	5,536,387					$	51,095,359
Full-time equivalent employees			336						533									1,475						565						1,787						4,696
			December 31, 2023
(dollars in thousands)			Wholesale Banking						Community Banking									Consumer Banking						Financial Management Services						Treasury and Corporate Other						Synovus Consolidated
Loans, net of deferred fees and costs			$	25,506,870					$	7,966,794								$	2,825,411					$	5,374,280					$	1,731,135					$	43,404,490
Deposits(1)			$	13,847,833					$	10,198,357								$	18,698,298					$	1,488,090					$	6,506,607					$	50,739,185
Full-time equivalent employees			334						576									1,522						604						1,762						4,798

(1) During the fourth quarter of 2023, $1.30 billion in deposits previously reported in Treasury and Corporate Other were transferred to align with the management of the client relationships within the Financial Management Services segment.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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