XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.25.1

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Summary of Derivative Instruments [Abstract] |
Schedule of Estimated Fair Value of Derivative Instruments included in the Consolidated Balance Sheets | The following table reflects the estimated fair value of derivative instruments included in other assets and other liabilities on the consolidated balance sheets along with their respective notional amounts on a gross basis.
| March 31, 2025 |  | December 31, 2024
|  |  | Estimated Fair Value |  |  |  | Estimated Fair Value
(in thousands) | Notional Amount |  | Derivative Assets |  | Derivative Liabilities |  | Notional Amount |  | Derivative Assets |  | Derivative Liabilities
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | 4,600,000 |  |  | $ | — |  |  | $ | 7,921 |  |  | $ | 4,350,000 |  |  | $ | — |  |  | $ | 13,003 |
Total cash flow hedges |  |  | $ | — |  |  | $ | 7,921 |  |  |  |  | $ | — |  |  | $ | 13,003 |
Derivatives in fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | 2,252,967 |  |  | $ | 1,694 |  |  | $ | — |  |  | $ | 2,102,967 |  |  | $ | 168 |  |  | $ | 1,469 |
Total fair value hedges |  |  | $ | 1,694 |  |  | $ | — |  |  |  |  | $ | 168 |  |  | $ | 1,469 |
Total derivatives designated as hedging instruments |  |  | $ | 1,694 |  |  | $ | 7,921 |  |  |  |  | $ | 168 |  |  | $ | 14,472 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | 15,470,217 |  |  | $ | 75,512 |  |  | $ | 157,904 |  |  | $ | 14,653,252 |  |  | $ | 81,099 |  |  | $ | 201,847 |
Mortgage derivatives - interest rate lock commitments | 61,774 |  |  | 1,173 |  |  | — |  |  | 34,649 |  |  | 434 |  |  | — |
Mortgage derivatives - forward commitments to sell fixed-rate mortgage loans | 69,500 |  |  | — |  |  | 305 |  |  | 51,500 |  |  | 233 |  |  | — |
Risk participation agreements | 957,949 |  |  | — |  |  | 11 |  |  | 924,267 |  |  | — |  |  | 6 |
Foreign exchange contracts | 155,466 |  |  | — |  |  | 1,406 |  |  | 148,805 |  |  | 1,961 |  |  | — |
Visa derivative | — |  |  | — |  |  | 2,228 |  |  | — |  |  | — |  |  | 64 |
Total derivatives not designated as hedging instruments |  |  | $ | 76,685 |  |  | $ | 161,854 |  |  |  |  | $ | 83,727 |  |  | $ | 201,917 |
Schedule of Effect of Hedging Derivative Instruments in the Consolidated Statements of Income | The following table presents the effect of hedging derivative instruments in the consolidated statements of income and the total amounts for the respective line item affected for the three months ended March 31, 2025 and 2024.
| Three Months Ended March 31, 2025 |  |
| Interest Income |  | Interest Expense |  |
(in thousands) | Loans, including fees |  | Deposits |  | Long-term debt |  |
Total interest income/expense amounts presented in the consolidated statements of income | $ | 648,252 |  |  | $ | 282,325 |  |  | $ | 29,848 |  |  |
Gain/(loss) on cash flow hedging relationships:(1) |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |
Realized gains (losses) reclassified from AOCI, pre-tax, to interest income on loans | $ | (18,503) |  |  | $ | — |  |  | $ | — |  |  |
Pre-tax income (loss) recognized on cash flow hedges | $ | (18,503) |  |  | $ | — |  |  | $ | — |  |  |
Gain/(loss) on fair value hedging relationships: |  |  |  |  |  |  |
Amounts related to interest settlements on derivatives | $ | — |  |  | $ | (2,794) |  |  | $ | (2,153) |  |  |
Recognized on derivatives | — |  |  | 6,451 |  |  | 11,789 |  |  |
Recognized on hedged items | — |  |  | (6,451) |  |  | (11,789) |  |  |
Pre-tax income (loss) recognized on fair value hedges | $ | — |  |  | $ | (2,794) |  |  | $ | (2,153) |  |  |
| Three Months Ended March 31, 2024
| Interest Income |  | Interest Expense
(in thousands) | Loans, including fees |  | Deposits |  | Long-term debt |  |
Total interest income/expense amounts presented in the consolidated statements of income | $ | 691,715 |  |  | $ | 332,666 |  |  | $ | 29,595 |  |  |
Gain/(loss) on cash flow hedging relationships:(1) |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |
Realized gains (losses) reclassified from AOCI, pre-tax, to interest income on loans | $ | (39,823) |  |  | $ | — |  |  | $ | — |  |  |
Pre-tax income (loss) recognized on cash flow hedges | $ | (39,823) |  |  | $ | — |  |  | $ | — |  |  |
Gain/(loss) on fair value hedging relationships: |  |  |  |  |  |  |
Amounts related to interest settlements on derivatives | $ | — |  |  | $ | (6,238) |  |  | $ | (3,724) |  |  |
Recognized on derivatives | — |  |  | (2,067) |  |  | (1,918) |  |  |
Recognized on hedged items | — |  |  | 2,067 |  |  | 1,918 |  |  |
Pre-tax income (loss) recognized on fair value hedges | $ | — |  |  | $ | (6,238) |  |  | $ | (3,724) |  |  |
(1) See Note 4 - Shareholders' Equity and Other Comprehensive Income (Loss) in this Report for gain (loss) recognized on cash flow hedging relationships in AOCI.
Schedule of Carrying Amount and Associated Cumulative Basis Adjustment Related to the Application of Hedge Accounting | The following table presents the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of the hedged assets/(liabilities) in fair value hedging relationships.
| March 31, 2025 |  | December 31, 2024
| Hedged Items Currently Designated |  | Hedged Items No Longer Designated |  | Hedged Items Currently Designated |  | Hedged Items No Longer Designated
(in thousands) | Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment |  | Carrying Amount of Assets/(Liabilities) | Hedge Accounting Basis Adjustment
Interest-bearing deposits | $ | (1,200,000) |  | $ | (2,159) |  |  | $ | — |  |  | $ | (1,050,000) |  | $ | 4,292 |  |  | $ | — |
Long-term debt | (1,048,924) |  | (203) |  |  | 8,444 |  |  | (1,048,535) |  | 11,585 |  |  | 9,809 |
Schedule of Pre-Tax Effect of Changes in Fair Value from Derivative Instruments Not Designated as Hedging Instruments | The pre-tax effect of changes in fair value from derivative instruments not designated as hedging instruments in the consolidated statements of income for the three months ended March 31, 2025 and 2024 is presented below.
|  |  |  | Gain (Loss) Recognized in Consolidated Statements of Income
|  |  |  | Three Months Ended March 31, |  |
(in thousands) |  | Location in Consolidated Statements of Income |  | 2025 |  | 2024 |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Interest rate contracts(1) |  | Capital markets income |  | $ | 261 |  |  | $ | (160) |  |  |  |  |
Mortgage derivatives - interest rate lock commitments |  | Mortgage banking income |  | 739 |  |  | 400 |  |  |  |  |
Mortgage derivatives - forward commitments to sell fixed-rate mortgage loans |  | Mortgage banking income |  | (538) |  |  | 462 |  |  |  |  |
Risk participation agreements |  | Capital markets income |  | (5) |  |  | (1) |  |  |  |  |
Foreign exchange contracts |  | Capital markets income |  | (3,368) |  |  | 720 |  |  |  |  |
Visa derivative |  | Other non-interest expense |  | (2,200) |  |  | — |  |  |  |  |
Total derivatives not designated as hedging instruments |  |  |  | $ | (5,111) |  |  | $ | 1,421 |  |  |  |  |
(1) Gain (loss) represents net fair value adjustments (including credit related adjustments) for client swaps.

X
- Definition Schedule of Effect of Fair Value Hedges on the Consolidated Statements of Income + References No definition available. + Details
Name: | syn_EffectOfFairValueHedgesOnTheConsolidatedStatementsOfIncomeTableTextBlock
Namespace Prefix: | syn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Carrying Amount And Associated Cumulative Basis Adjustment Related To The Application Of Hedge Accounting + References No definition available. + Details
Name: | syn_ScheduleOfCarryingAmountAndAssociatedCumulativeBasisAdjustmentRelatedToTheApplicationOfHedgeAccountingTableTextBlock
Namespace Prefix: | syn_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SummaryOfDerivativeInstrumentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration