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Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2025

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, 2025 and December 31, 2024.

			March 31, 2025
(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			$	14,471,969					$	12,271					$	1,902					$	14,173					$	103,206					$	22,364					$	14,611,712
Owner-occupied			7,640,984						5,502						36,915						42,417						10,614						7,612						7,701,627
Total commercial and industrial			22,112,953						17,773						38,817						56,590						113,820						29,976						22,313,339
Investment properties			11,197,739						1,858						228						2,086						66,076						—						11,265,901
1-4 family properties			510,077						784						—						784						2,577						—						513,438
Land and development			290,808						—						—						—						1,411						—						292,219
Total commercial real estate			11,998,624						2,642						228						2,870						70,064						—						12,071,558
Consumer mortgages			5,212,156						8,490						—						8,490						47,223						1,636						5,269,505
Home equity			1,808,427						12,357						99						12,456						18,120						182						1,839,185
Credit cards			175,030						1,750						1,742						3,492						—						—						178,522
Other consumer loans			961,426						9,595						—						9,595						5,608						—						976,629
Total consumer			8,157,039						32,192						1,841						34,033						70,951						1,818						8,263,841
Loans, net of deferred fees and costs(1)(2)			$	42,268,616					$	52,607					$	40,886					$	93,493					$	254,835					$	31,794					$	42,648,738

                                                                                                                                                                                                                                                                                                                                                                        

			December 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			$	14,352,839					$	12,947					$	10,332					$	23,279					$	98,145					$	24,729					$	14,498,992
Owner-occupied			7,754,052						7,700						36,005						43,705						21,119						13,261						7,832,137
Total commercial and industrial			22,106,891						20,647						46,337						66,984						119,264						37,990						22,331,129
Investment properties			11,105,168						2,006						—						2,006						74,030						—						11,181,204
1-4 family properties			541,897						1,636						—						1,636						2,385						—						545,918
Land and development			284,793						1,113						202						1,315						1,389						—						287,497
Total commercial real estate			11,931,858						4,755						202						4,957						77,804						—						12,014,619
Consumer mortgages			5,228,580						9,362						—						9,362						50,834						—						5,288,776
Home equity			1,800,614						13,131						177						13,308						17,365						—						1,831,287
Credit cards			182,435						1,573						1,863						3,436						—						—						185,871
Other consumer loans			940,608						10,818						13						10,831						5,907						—						957,346
Total consumer			8,152,237						34,884						2,053						36,937						74,106						—						8,263,280
Loans, net of deferred fees and costs(1)(2)			$	42,190,986					$	60,286					$	48,592					$	108,878					$	271,174					$	37,990					$	42,609,028

(1) The amortized cost basis of loans, net of deferred fees and costs excludes accrued interest receivable of $215.3 million and $217.1 million at March 31, 2025 and December 31, 2024, respectively, which is presented as a component of other assets on the consolidated balance sheets.

(2) Loans are presented net of deferred loan fees and costs totaling $32.6 million and $34.1 million at March 31, 2025 and December 31, 2024, respectively.

Pledged Loans

Loans with carrying values of $24.90 billion and $24.66 billion, respectively, were pledged as collateral for borrowings and capacity at March 31, 2025 and December 31, 2024, 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, as well as certain specialized lending verticals including specialty finance, senior housing, and CIB. 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 generally 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, 2025 and December 31, 2024 as required under CECL.

			March 31, 2025
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2025						2024						2023						2022						2021						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Commercial, financial and agricultural
Pass			$	334,736					$	1,111,284					$	947,329					$	705,620					$	1,085,571					$	2,175,795					$	7,523,086					$	64,032					$	13,947,453
Special Mention			1,282						431						13,864						17,394						13,384						36,890						156,492						—						239,737
Substandard			13,454						21,960						14,114						59,139						11,206						56,208						236,002						—						412,083
Doubtful			—						—						—						—						5,911						934						4,895						—						11,740
Loss			—						—						—						—						—						—						699						—						699
Total commercial, financial and agricultural			349,472						1,133,675						975,307						782,153						1,116,072						2,269,827						7,921,174						64,032						14,611,712
Current YTD Period:
Gross charge-offs			—						100						309						300						538						1,021						4,820						—						7,088
Owner-occupied
Pass			169,162						719,097						927,899						1,449,030						1,131,661						2,380,680						587,398						—						7,364,927
Special Mention			—						1,093						2,419						48,327						26,479						22,987						—						—						101,305
Substandard			283						2,552						10,001						51,749						20,175						107,843						42,792						—						235,395
Total owner-occupied			169,445						722,742						940,319						1,549,106						1,178,315						2,511,510						630,190						—						7,701,627
Current YTD Period:
Gross charge-offs			—						—						—						11						—						3,255						—						—						3,266
Total commercial and industrial			518,917						1,856,417						1,915,626						2,331,259						2,294,387						4,781,337						8,551,364						64,032						22,313,339
Current YTD Period:
Gross charge-offs			$	—					$	100					$	309					$	311					$	538					$	4,276					$	4,820					$	—					$	10,354
Investment properties
Pass			366,007						815,802						725,695						3,245,510						2,353,982						3,107,243						152,856						—						10,767,095
Special Mention			15,421						4,896						2,188						120,260						148,229						74,763						—						—						365,757
Substandard			448						—						1,680						6,447						77,068						17,355						—						—						102,998
Doubtful			—						—						—						—						30,046						—						—						—						30,046
Loss			—						—						—						—						—						5						—						—						5
Total investment properties			381,876						820,698						729,563						3,372,217						2,609,325						3,199,366						152,856						—						11,265,901
Current YTD Period:
Gross charge-offs			—						—						—						—						9,424						—						—						—						9,424
1-4 family properties
Pass			41,171						134,661						71,215						88,490						79,289						72,449						16,329						—						503,604
Special Mention			359						—						—						695						—						245						—						—						1,299
Substandard			—						894						818						3,200						250						3,328						45						—						8,535
Total 1-4 family properties			41,530						135,555						72,033						92,385						79,539						76,022						16,374						—						513,438
Current YTD Period:
Gross charge-offs			—						—						1						—						—						—						—						—						1

			March 31, 2025
			Term Loans Amortized Cost Basis by Origination Year																																				Revolving Loans
(in thousands)			2025						2024						2023						2022						2021						Prior						Amortized Cost Basis						Converted to Term Loans						Total
Land and development
Pass			18,792						49,919						77,460						51,303						25,534						41,418						24,444						—						288,870
Special Mention			—						—						135						—						—						374						—						—						509
Substandard			—						—						1,911						18						48						863						—						—						2,840
Total land and development			18,792						49,919						79,506						51,321						25,582						42,655						24,444						—						292,219
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						—						—						—
Total commercial real estate			442,198						1,006,172						881,102						3,515,923						2,714,446						3,318,043						193,674						—						12,071,558
Current YTD Period:
Gross charge-offs			$	—					$	—					$	1					$	—					$	9,424					$	—					$	—					$	—					$	9,425
Consumer mortgages
Pass			103,663						453,616						662,938						654,938						926,791						2,401,406						25						—						5,203,377
Substandard			—						190						2,341						6,229						7,258						50,070						—						—						66,088
Loss			—						—						—						—						—						40						—						—						40
Total consumer mortgages			103,663						453,806						665,279						661,167						934,049						2,451,516						25						—						5,269,505
Current YTD Period:
Gross charge-offs			—						—						—						30						5						18						—						—						53
Home equity
Pass			—						—						—						—						—						—						1,400,710						416,516						1,817,226
Substandard			—						—						—						—						—						—						12,193						8,819						21,012
Loss			—						—						—						—						—						—						713						234						947
Total home equity			—						—						—						—						—						—						1,413,616						425,569						1,839,185
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						—						22						22
Credit cards
Pass			—						—						—						—						—						—						176,828						—						176,828
Substandard			—						—						—						—						—						—						579						—						579
Loss			—						—						—						—						—						—						1,115						—						1,115
Total credit cards			—						—						—						—						—						—						178,522						—						178,522
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						1,779						—						1,779
Other consumer loans
Pass			86,488						117,803						74,976						108,309						131,284						157,232						293,718						—						969,810
Substandard			—						474						1,024						1,342						2,428						1,477						63						—						6,808
Loss			—						—						—						—						—						—						11						—						11
Total other consumer loans			86,488						118,277						76,000						109,651						133,712						158,709						293,792						—						976,629
Current YTD Period:
Gross charge-offs			—						435						1,315						768						1,102						1,389						505						—						5,514
Total consumer			190,151						572,083						741,279						770,818						1,067,761						2,610,225						1,885,955						425,569						8,263,841
Current YTD Period:
Gross charge-offs			$	—					$	435					$	1,315					$	798					$	1,107					$	1,407					$	2,284					$	22					$	7,368
Loans, net of deferred fees and costs			$	1,151,266					$	3,434,672					$	3,538,007					$	6,618,000					$	6,076,594					$	10,709,605					$	10,630,993					$	489,601					$	42,648,738
Current YTD Period:
Gross charge-offs			$	—					$	535					$	1,625					$	1,109					$	11,069					$	5,683					$	7,104					$	22					$	27,147

			December 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			$	1,200,861					$	1,001,989					$	739,134					$	1,195,316					$	629,109					$	1,586,291					$	7,372,228					$	81,796					$	13,806,724
Special Mention			1,555						20,255						17,775						18,403						2,464						36,817						158,968						—						256,237
Substandard			20,920						12,397						59,487						14,694						39,482						17,028						258,070						493						422,571
Doubtful			—						—						—						5,911						—						1,869						5,145						—						12,925
Loss			—						—						—						—						—						—						535						—						535
Total commercial, financial and agricultural			1,223,336						1,034,641						816,396						1,234,324						671,055						1,642,005						7,794,946						82,289						14,498,992
Current YTD Period:
Gross charge-offs			7,696						16,499						3,786						8,787						997						4,413						53,736						—						95,914
Owner-occupied
Pass			691,899						981,593						1,468,946						1,220,421						872,744						1,621,387						619,519						—						7,476,509
Special Mention			1,099						2,466						65,733						5,397						34,244						12,621						—						—						121,560
Substandard			2,568						5,838						34,147						20,698						49,766						65,147						55,904						—						234,068
Total owner-occupied			695,566						989,897						1,568,826						1,246,516						956,754						1,699,155						675,423						—						7,832,137
Current YTD Period:
Gross charge-offs			—						76						543						304						1,567						17,558						3,426						—						23,474
Total commercial and industrial			1,918,902						2,024,538						2,385,222						2,480,840						1,627,809						3,341,160						8,470,369						82,289						22,331,129
Current YTD Period:
Gross charge-offs			$	7,696					$	16,575					$	4,329					$	9,091					$	2,564					$	21,971					$	57,162					$	—					$	119,388
Investment properties
Pass			769,775						642,808						3,306,914						2,406,325						898,363						2,405,650						227,460						—						10,657,295
Special Mention			4,583						2,211						97,443						200,780						—						68,559						—						—						373,576
Substandard			—						1,689						10,093						83,795						1,466						13,884						—						—						110,927
Doubtful			—						—						—						39,401						—						—						—						—						39,401
Loss			—						—						—						—						—						5						—						—						5
Total investment properties			774,358						646,708						3,414,450						2,730,301						899,829						2,488,098						227,460						—						11,181,204
Current YTD Period:
Gross charge-offs			—						—						527						4,752						—						4,602						—						—						9,881
1-4 family properties
Pass			159,008						79,094						95,050						81,630						28,845						53,167						40,133						—						536,927
Special Mention			—						—						1,060						663						169						1,300						—						—						3,192
Substandard			919						840						1,618						233						287						1,857						45						—						5,799
Total 1-4 family properties			159,927						79,934						97,728						82,526						29,301						56,324						40,178						—						545,918
Current YTD Period:
Gross charge-offs			—						103						—						—						—						143						—						—						246
Land and development
Pass			55,564						87,465						54,214						26,002						4,933						41,749						14,798						—						284,725
Special Mention			—						138						—						25						—						390						—						—						553
Substandard			—						1,347						—						—						153						719						—						—						2,219
Total land and development			55,564						88,950						54,214						26,027						5,086						42,858						14,798						—						287,497
Current YTD Period:
Gross charge-offs			—						—						—						—						35						22						—						—						57
Total commercial real estate			989,849						815,592						3,566,392						2,838,854						934,216						2,587,280						282,436						—						12,014,619
Current YTD Period:
Gross charge-offs			$	—					$	103					$	527					$	4,752					$	35					$	4,767					$	—					$	—					$	10,184

			December 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
Consumer mortgages
Pass			$	457,176					$	681,844					$	670,652					$	947,395					$	1,119,610					$	1,341,463					$	25					$	—					$	5,218,165
Substandard			190						1,872						5,590						7,117						17,918						37,895						—						—						70,582
Loss			—						—						—						—						—						29						—						—						29
Total consumer mortgages			457,366						683,716						676,242						954,512						1,137,528						1,379,387						25						—						5,288,776
Current YTD Period:
Gross charge-offs			—						11						—						3						30						122						—						—						166
Home equity
Pass			—						—						—						—						—						—						1,386,370						424,891						1,811,261
Substandard			—						—						—						—						—						—						11,464						7,729						19,193
Loss			—						—						—						—						—						—						554						279						833
Total home equity			—						—						—						—						—						—						1,398,388						432,899						1,831,287
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						230						106						336
Credit cards
Pass			—						—						—						—						—						—						184,061						—						184,061
Substandard			—						—						—						—						—						—						701						—						701
Loss			—						—						—						—						—						—						1,109						—						1,109
Total credit cards			—						—						—						—						—						—						185,871						—						185,871
Current YTD Period:
Gross charge-offs			—						—						—						—						—						—						7,153						—						7,153
Other consumer loans
Pass			150,051						81,087						119,274						144,297						78,961						91,802						284,801						—						950,273
Substandard			310						1,046						1,298						2,692						1,132						524						59						—						7,061
Loss			—						—						—						—						—						—						12						—						12
Total other consumer loans			150,361						82,133						120,572						146,989						80,093						92,326						284,872						—						957,346
Current YTD Period:
Gross charge-offs			576						3,740						4,840						7,601						2,140						2,509						2,315						—						23,721
Total consumer			607,727						765,849						796,814						1,101,501						1,217,621						1,471,713						1,869,156						432,899						8,263,280
Current YTD Period:
Gross charge-offs			$	576					$	3,751					$	4,840					$	7,604					$	2,170					$	2,631					$	9,698					$	106					$	31,376
Loans, net of deferred fees and costs			$	3,516,478					$	3,605,979					$	6,748,428					$	6,421,195					$	3,779,646					$	7,400,153					$	10,621,961					$	515,188					$	42,609,028
Current YTD Period:
Gross charge-offs			$	8,272					$	20,429					$	9,696					$	21,447					$	4,769					$	29,369					$	66,860					$	106					$	160,948

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, 2025.

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, 2025 and 2024. During the three months ended March 31, 2025 and 2024, Synovus had no significant transfers to loans held for sale.

			As Of and For the Three Months Ended March 31, 2025
(in thousands)			Commercial & Industrial						Commercial Real Estate						Consumer						Total
Allowance for loan losses:
Beginning balance at December 31, 2024			$	210,525					$	134,021					$	142,299					$	486,845
Charge-offs			(10,354)						(9,425)						(7,368)						(27,147)
Recoveries			2,970						51						2,760						5,781
Provision for (reversal of) loan losses			2,762						1,573						8,393						12,728
Ending balance at March 31, 2025			$	205,903					$	126,220					$	146,084					$	478,207
			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

The ALL of $478.2 million and the reserve for unfunded commitments of $50.7 million, which is recorded in other liabilities, comprise the total ACL of $528.9 million at March 31, 2025. The ACL decreased $10.4 million compared to the December 31, 2024 ACL of $539.3 million, which consisted of the ALL of $486.8 million and a reserve for unfunded commitments of $52.5 million. The ACL to loans coverage ratio was 1.24% at March 31, 2025, compared to 1.27% at December 31, 2024. When compared to the year-end 2024 ACL, the March 31, 2025 ACL was characterized by improved credit performance, partially offset by increased economic uncertainty, including more heavily-weighted downside scenarios. The Company includes qualitative adjustments, as appropriate, intended to capture the impact of uncertainties in the quantitative estimate. The March 31, 2025 and December 31, 2024 allowance included qualitative adjustments for higher risk portfolios such as C&I (which includes Leveraged Lending), CRE Office, and CRE Multi-family.

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 stronger growth than the baseline, 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, 2025, 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 4.9% over the forecasted period at March 31, 2025, compared to 4.6% at December 31, 2024.

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' 2024 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, 2025 and 2024.

			Three Months Ended March 31, 2025
(in thousands)			Interest Rate Reduction						Term Extension												Payment Delay						Interest Rate Reduction and Term Extension						Principal Forgiveness, Term Extension, and Payment Delay						Total						Percentage of Total by Financing Class
Commercial, financial and agricultural			$	—					$	695											$	—					$	—					$	12,917					$	13,612					0.1		%
Total commercial and industrial			—						695												—						—						12,917						13,612						0.1
Consumer mortgages			—						—												5,249						—						—						5,249						0.1
Other consumer loans			42						501												38						14						—						595						0.1
Total consumer			42						501												5,287						14						—						5,844						0.1
Total FDMs			$	42					$	1,196											$	5,287					$	14					$	12,917					$	19,456					—		%

			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						—
Total commercial real estate			—						2,244												—						—												2,244						—
Consumer mortgages			123						—												210						—												333						—
Home equity			—						11												—						—												11						—
Other consumer loans			121						257												—						3												381						—
Total consumer			244						268												210						3												725						—
Total FDMs			$	244					$	4,084											$	210					$	8,145											$	12,683					—		%

The following tables present the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2025 and 2024.

									Three Months Ended March 31, 2025
(dollars in thousands)									Weighted Average Interest Rate Reduction						Weighted Average Term Extension (in months)						Weighted Average Payment Delay (in months)						Principal Forgiveness
Commercial, financial and agricultural									—		%				2						12						$	891
Consumer mortgages									—						—						6						—
Other consumer loans									2.4						104						6						—

									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						—

During the three months ended March 31, 2025, there were no material FDMs that subsequently defaulted. 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. As of March 31, 2025 and December 31, 2024, 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 tables provide 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, 2025 and March 31, 2024, respectively.

			As of March 31, 2025
(in thousands)			Current						Accruing 30-89 Days Past Due						Accruing 90 Days or Greater Past Due												Non-accrual						Total
Commercial, financial and agricultural			$	7,318					$	2,577					$	—											$	13,046					$	22,941
Owner-occupied			13,682						—						—												—						13,682
Total commercial and industrial			21,000						2,577						—												13,046						36,623
Investment properties			35,216						—						—												32,782						67,998
Total commercial real estate			35,216						—						—												32,782						67,998
Consumer mortgages			87						—						—												6,828						6,915
Other consumer loans			522						44						—												454						1,020
Total consumer			609						44						—												7,282						7,935
Total FDMs			$	56,825					$	2,621					$	—											$	53,110					$	112,556

			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
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

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