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Loans and Allowance for Loan Losses | 9 Months Ended
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Sep. 30, 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 September 30, 2025 and December 31, 2024.
| September 30, 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 | $ | 15,263,978 |  |  | $ | 5,155 |  |  | $ | 1,995 |  |  | $ | 7,150 |  |  | $ | 84,282 |  |  | $ | 4,813 |  |  | $ | 15,360,223 |  |
Owner-occupied | 7,853,267 |  |  | 5,702 |  |  | — |  |  | 5,702 |  |  | 9,420 |  |  | 357 |  |  | 7,868,746 |  |
Total commercial and industrial | 23,117,245 |  |  | 10,857 |  |  | 1,995 |  |  | 12,852 |  |  | 93,702 |  |  | 5,170 |  |  | 23,228,969 |  |
Investment properties | 11,424,644 |  |  | 1,652 |  |  | — |  |  | 1,652 |  |  | 34,768 |  |  | 1,043 |  |  | 11,462,107 |  |
1-4 family properties | 545,699 |  |  | 484 |  |  | — |  |  | 484 |  |  | 2,144 |  |  | — |  |  | 548,327 |  |
Land and development | 258,154 |  |  | 440 |  |  | — |  |  | 440 |  |  | 712 |  |  | — |  |  | 259,306 |  |
Total commercial real estate | 12,228,497 |  |  | 2,576 |  |  | — |  |  | 2,576 |  |  | 37,624 |  |  | 1,043 |  |  | 12,269,740 |  |
Consumer mortgages | 5,186,944 |  |  | 5,746 |  |  | — |  |  | 5,746 |  |  | 44,414 |  |  | 579 |  |  | 5,237,683 |  |
Home equity | 1,811,056 |  |  | 10,106 |  |  | 164 |  |  | 10,270 |  |  | 20,189 |  |  | 611 |  |  | 1,842,126 |  |
Credit cards | 173,199 |  |  | 1,526 |  |  | 1,642 |  |  | 3,168 |  |  | — |  |  | — |  |  | 176,367 |  |
Other consumer loans | 982,783 |  |  | 9,571 |  |  | — |  |  | 9,571 |  |  | 5,995 |  |  | — |  |  | 998,349 |  |
Total consumer | 8,153,982 |  |  | 26,949 |  |  | 1,806 |  |  | 28,755 |  |  | 70,598 |  |  | 1,190 |  |  | 8,254,525 |  |
Loans, net of deferred fees and costs(1)(2) | $ | 43,499,724 |  |  | $ | 40,382 |  |  | $ | 3,801 |  |  | $ | 44,183 |  |  | $ | 201,924 |  |  | $ | 7,403 |  |  | $ | 43,753,234 |  |
| 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 $216.3 million and $217.1 million at September 30, 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 $41.0 million and $34.1 million at September 30, 2025 and December 31, 2024, respectively. Pledged Loans Loans with carrying values of $23.28 billion and $24.66 billion were pledged as collateral for borrowings and capacity at September 30, 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 September 30, 2025 and December 31, 2024 as required under CECL.
| September 30, 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 | $ | 1,334,232 |  |  | $ | 1,230,065 |  |  | $ | 858,946 |  |  | $ | 687,395 |  |  | $ | 1,020,047 |  |  | $ | 2,013,791 |  |  | $ | 7,518,116 |  |  | $ | 100,721 |  |  | $ | 14,763,313 |
Special Mention | 1,483 |  |  | 36,679 |  |  | 7,102 |  |  | 4,784 |  |  | 10,467 |  |  | 5,689 |  |  | 86,299 |  |  | 1,586 |  |  | 154,089 |
Substandard | 23,326 |  |  | 44,252 |  |  | 21,194 |  |  | 55,089 |  |  | 10,339 |  |  | 44,949 |  |  | 236,224 |  |  | — |  |  | 435,373 |
Doubtful | — |  |  | 485 |  |  | — |  |  | — |  |  | 5,911 |  |  | — |  |  | 482 |  |  | — |  |  | 6,878 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 570 |  |  | — |  |  | 570 |
Total commercial, financial and agricultural | 1,359,041 |  |  | 1,311,481 |  |  | 887,242 |  |  | 747,268 |  |  | 1,046,764 |  |  | 2,064,429 |  |  | 7,841,691 |  |  | 102,307 |  |  | 15,360,223 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | 673 |  |  | 10,635 |  |  | 4,101 |  |  | 1,179 |  |  | 685 |  |  | 2,309 |  |  | 14,730 |  |  | — |  |  | 34,312 |
Owner-occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 863,602 |  |  | 777,456 |  |  | 855,400 |  |  | 1,380,744 |  |  | 1,086,203 |  |  | 1,929,582 |  |  | 689,783 |  |  | — |  |  | 7,582,770 |
Special Mention | — |  |  | — |  |  | 1,675 |  |  | 48,759 |  |  | 28,686 |  |  | 18,519 |  |  | — |  |  | — |  |  | 97,639 |
Substandard | 3,886 |  |  | 2,789 |  |  | 19,598 |  |  | 47,696 |  |  | 19,716 |  |  | 88,071 |  |  | 6,581 |  |  | — |  |  | 188,337 |
Total owner-occupied | 867,488 |  |  | 780,245 |  |  | 876,673 |  |  | 1,477,199 |  |  | 1,134,605 |  |  | 2,036,172 |  |  | 696,364 |  |  | — |  |  | 7,868,746 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | 89 |  |  | 364 |  |  | — |  |  | 3,463 |  |  | — |  |  | — |  |  | 3,916 |
Total commercial and industrial | 2,226,529 |  |  | 2,091,726 |  |  | 1,763,915 |  |  | 2,224,467 |  |  | 2,181,369 |  |  | 4,100,601 |  |  | 8,538,055 |  |  | 102,307 |  |  | 23,228,969 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 673 |  |  | $ | 10,635 |  |  | $ | 4,190 |  |  | $ | 1,543 |  |  | $ | 685 |  |  | $ | 5,772 |  |  | $ | 14,730 |  |  | $ | — |  |  | $ | 38,228 |
Investment properties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,472,274 |  |  | 991,058 |  |  | 719,592 |  |  | 2,940,576 |  |  | 1,929,505 |  |  | 2,782,514 |  |  | 137,662 |  |  | — |  |  | 10,973,181 |
Special Mention | 15,681 |  |  | 4,509 |  |  | 5,009 |  |  | 213,604 |  |  | 123,914 |  |  | 32,643 |  |  | — |  |  | — |  |  | 395,360 |
Substandard | 3,113 |  |  | 1,321 |  |  | 5,835 |  |  | 9,404 |  |  | 41,750 |  |  | 32,138 |  |  | — |  |  | — |  |  | 93,561 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Total investment properties | 1,491,068 |  |  | 996,888 |  |  | 730,436 |  |  | 3,163,584 |  |  | 2,095,169 |  |  | 2,847,300 |  |  | 137,662 |  |  | — |  |  | 11,462,107 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | — |  |  | 206 |  |  | 18,544 |  |  | — |  |  | — |  |  | — |  |  | 18,750 |
1-4 family properties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 141,900 |  |  | 96,500 |  |  | 57,123 |  |  | 79,910 |  |  | 74,215 |  |  | 63,675 |  |  | 26,206 |  |  | — |  |  | 539,529 |
Special Mention | 193 |  |  | — |  |  | 750 |  |  | 779 |  |  | — |  |  | 119 |  |  | — |  |  | — |  |  | 1,841 |
Substandard | 375 |  |  | 995 |  |  | 346 |  |  | 2,028 |  |  | 251 |  |  | 2,962 |  |  | — |  |  | — |  |  | 6,957 |
Total 1-4 family properties | 142,468 |  |  | 97,495 |  |  | 58,219 |  |  | 82,717 |  |  | 74,466 |  |  | 66,756 |  |  | 26,206 |  |  | — |  |  | 548,327 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | 110 |  |  | 129 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 244 |
| September 30, 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 | 43,901 |  |  | 49,035 |  |  | 28,375 |  |  | 33,199 |  |  | 23,312 |  |  | 56,313 |  |  | 22,429 |  |  | — |  |  | 256,564 |
Special Mention | — |  |  | — |  |  | 704 |  |  | — |  |  | — |  |  | 267 |  |  | — |  |  | — |  |  | 971 |
Substandard | — |  |  | — |  |  | 992 |  |  | — |  |  | 46 |  |  | 733 |  |  | — |  |  | — |  |  | 1,771 |
Total land and development | 43,901 |  |  | 49,035 |  |  | 30,071 |  |  | 33,199 |  |  | 23,358 |  |  | 57,313 |  |  | 22,429 |  |  | — |  |  | 259,306 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | 217 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 217 |
Total commercial real estate | 1,677,437 |  |  | 1,143,418 |  |  | 818,726 |  |  | 3,279,500 |  |  | 2,192,993 |  |  | 2,971,369 |  |  | 186,297 |  |  | — |  |  | 12,269,740 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | 327 |  |  | $ | 335 |  |  | $ | 18,544 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,211 |
Consumer mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 371,832 |  |  | 423,243 |  |  | 610,239 |  |  | 622,005 |  |  | 874,524 |  |  | 2,271,659 |  |  | — |  |  | — |  |  | 5,173,502 |
Substandard | 380 |  |  | 386 |  |  | 3,051 |  |  | 6,326 |  |  | 7,204 |  |  | 46,797 |  |  | — |  |  | — |  |  | 64,144 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37 |  |  | — |  |  | — |  |  | 37 |
Total consumer mortgages | 372,212 |  |  | 423,629 |  |  | 613,290 |  |  | 628,331 |  |  | 881,728 |  |  | 2,318,493 |  |  | — |  |  | — |  |  | 5,237,683 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | 4 |  |  | 153 |  |  | 254 |  |  | 1,197 |  |  | — |  |  | — |  |  | 1,608 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,414,984 |  |  | 401,966 |  |  | 1,816,950 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,102 |  |  | 9,733 |  |  | 23,835 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 689 |  |  | 652 |  |  | 1,341 |
Total home equity | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,429,775 |  |  | 412,351 |  |  | 1,842,126 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | 168 |  |  | 176 |
Credit cards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 174,725 |  |  | — |  |  | 174,725 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 480 |  |  | — |  |  | 480 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,162 |  |  | — |  |  | 1,162 |
Total credit cards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 176,367 |  |  | — |  |  | 176,367 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,107 |  |  | — |  |  | 5,107 |
Other consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 185,915 |  |  | 98,124 |  |  | 63,872 |  |  | 89,890 |  |  | 108,887 |  |  | 135,810 |  |  | 308,754 |  |  | — |  |  | 991,252 |
Substandard | 395 |  |  | 928 |  |  | 955 |  |  | 1,337 |  |  | 2,127 |  |  | 1,298 |  |  | 57 |  |  | — |  |  | 7,097 |
Total other consumer loans | 186,310 |  |  | 99,052 |  |  | 64,827 |  |  | 91,227 |  |  | 111,014 |  |  | 137,108 |  |  | 308,811 |  |  | — |  |  | 998,349 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | 791 |  |  | 2,695 |  |  | 3,686 |  |  | 1,979 |  |  | 3,066 |  |  | 4,061 |  |  | 922 |  |  | — |  |  | 17,200 |
Total consumer | 558,522 |  |  | 522,681 |  |  | 678,117 |  |  | 719,558 |  |  | 992,742 |  |  | 2,455,601 |  |  | 1,914,953 |  |  | 412,351 |  |  | 8,254,525 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 791 |  |  | $ | 2,695 |  |  | $ | 3,690 |  |  | $ | 2,132 |  |  | $ | 3,320 |  |  | $ | 5,258 |  |  | $ | 6,037 |  |  | $ | 168 |  |  | $ | 24,091 |
Loans, net of deferred fees and costs | $ | 4,462,488 |  |  | $ | 3,757,825 |  |  | $ | 3,260,758 |  |  | $ | 6,223,525 |  |  | $ | 5,367,104 |  |  | $ | 9,527,571 |  |  | $ | 10,639,305 |  |  | $ | 514,658 |  |  | $ | 43,753,234 |
Current YTD Period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 1,464 |  |  | $ | 13,330 |  |  | $ | 8,207 |  |  | $ | 4,010 |  |  | $ | 22,549 |  |  | $ | 11,035 |  |  | $ | 20,767 |  |  | $ | 168 |  |  | $ | 81,530 |
| 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 and nine months ended September 30, 2025. Rollforward of Allowance for Loan Losses The following tables detail the changes in the ALL by loan segment for the three and nine months ended September 30, 2025 and 2024. During the three and nine months ended September 30, 2025 and 2024, Synovus had no significant transfers to loans held for sale.
| As Of and For the Three Months Ended September 30, 2025
(in thousands) | Commercial & Industrial |  | Commercial Real Estate |  | Consumer |  | Total
Allowance for loan losses: |  |  |  |  |  |  |
Beginning balance at June 30, 2025 | $ | 205,240 |  |  | $ | 117,739 |  |  | $ | 141,852 |  |  | $ | 464,831 |
Charge-offs | (11,648) |  |  | (384) |  |  | (7,937) |  |  | (19,969) |
Recoveries | 1,962 |  |  | 53 |  |  | 2,727 |  |  | 4,742 |
Provision for (reversal of) loan losses | 13,468 |  |  | 5,989 |  |  | 460 |  |  | 19,917 |
Ending balance at September 30, 2025 | $ | 209,022 |  |  | $ | 123,397 |  |  | $ | 137,102 |  |  | $ | 469,521 |
| As Of and For the Three Months Ended September 30, 2024
(in thousands) | Commercial & Industrial |  | Commercial Real Estate |  | Consumer |  | Total
Allowance for loan losses: |  |  |  |  |  |  |
Beginning balance at June 30, 2024 | $ | 220,730 |  |  | $ | 141,680 |  |  | $ | 122,691 |  |  | $ | 485,101 |
Charge-offs | (21,484) |  |  | (5,833) |  |  | (6,789) |  |  | (34,106) |
Recoveries | 5,094 |  |  | 333 |  |  | 1,627 |  |  | 7,054 |
Provision for (reversal of) loan losses | (4,272) |  |  | 7,408 |  |  | 23,800 |  |  | 26,936 |
Ending balance at September 30, 2024 | $ | 200,068 |  |  | $ | 143,588 |  |  | $ | 141,329 |  |  | $ | 484,985 |
| As Of and For the Nine Months Ended September 30, 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 | (38,228) |  |  | (19,211) |  |  | (24,091) |  |  | (81,530) |
Recoveries | 17,674 |  |  | 1,172 |  |  | 7,791 |  |  | 26,637 |
Provision for (reversal of) loan losses | 19,051 |  |  | 7,415 |  |  | 11,103 |  |  | 37,569 |
Ending balance at September 30, 2025 | $ | 209,022 |  |  | $ | 123,397 |  |  | $ | 137,102 |  |  | $ | 469,521 |
| As Of and For the Nine Months Ended September 30, 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 | (93,806) |  |  | (9,807) |  |  | (23,352) |  |  | (126,965) |
Recoveries | 12,971 |  |  | 1,562 |  |  | 6,539 |  |  | 21,072 |
Provision for (reversal of) loan losses | 61,933 |  |  | 18,075 |  |  | 31,485 |  |  | 111,493 |
Ending balance at September 30, 2024 | $ | 200,068 |  |  | $ | 143,588 |  |  | $ | 141,329 |  |  | $ | 484,985 |
The ALL of $469.5 million and the reserve for unfunded commitments of $50.7 million, which is recorded in other liabilities, comprise the total ACL of $520.3 million at September 30, 2025. The ACL decreased $19.0 million compared to the December 31, 2024 ACL of $539.3 million, which consisted of an ALL of $486.8 million and a reserve for unfunded commitments of $52.5 million. The ACL to loans coverage ratio was 1.19% at September 30, 2025, compared to 1.27% at December 31, 2024. When compared to the year-end 2024 ACL, the September 30, 2025 ACL was characterized by improved credit performance, including a decrease in net charge-offs and reserves for individually analyzed loans, as well as loan growth. The Company includes qualitative adjustments, as appropriate, intended to capture the impact of uncertainties in the quantitative estimate. The September 30, 2025 and the 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 September 30, 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 4.7% over the forecasted period at September 30, 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 and nine months ended September 30, 2025 and 2024. Tables within this section exclude loans that were paid-off or are otherwise no longer in the loan portfolio as of the period end.
| Three Months Ended September 30, 2025
(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 | $ | — |  |  | $ | 1,680 |  |  |  |  | $ | — |  |  | $ | 86 |  |  |  |  | $ | 1,766 |  |  | — | %
Owner-occupied | — |  |  | 4,031 |  |  |  |  | — |  |  | — |  |  |  |  | 4,031 |  |  | 0.1 |
Total commercial and industrial | — |  |  | 5,711 |  |  |  |  | — |  |  | 86 |  |  |  |  | 5,797 |  |  | — |
Investment properties | — |  |  | 2,195 |  |  |  |  | — |  |  | — |  |  |  |  | 2,195 |  |  | — |
Total commercial real estate | — |  |  | 2,195 |  |  |  |  | — |  |  | — |  |  |  |  | 2,195 |  |  | — |
Consumer mortgages | — |  |  | — |  |  |  |  | 3,241 |  |  | — |  |  |  |  | 3,241 |  |  | 0.1 |
Other consumer loans | 24 |  |  | 1,580 |  |  |  |  | — |  |  | — |  |  |  |  | 1,604 |  |  | 0.2 |
Total consumer | 24 |  |  | 1,580 |  |  |  |  | 3,241 |  |  | — |  |  |  |  | 4,845 |  |  | 0.1 |
Total FDMs | $ | 24 |  |  | $ | 9,486 |  |  |  |  | $ | 3,241 |  |  | $ | 86 |  |  |  |  | $ | 12,837 |  |  | — | %
| Nine Months Ended September 30, 2025
(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 | $ | — |  |  | $ | 20,117 |  |  |  |  | $ | 21,472 |  |  | $ | 86 |  |  |  |  | $ | 41,675 |  |  | 0.3 | %
Owner-occupied | — |  |  | 4,031 |  |  |  |  | — |  |  | — |  |  |  |  | 4,031 |  |  | 0.1 |
Total commercial and industrial | — |  |  | 24,148 |  |  |  |  | 21,472 |  |  | 86 |  |  |  |  | 45,706 |  |  | 0.2 |
Investment properties | — |  |  | 2,195 |  |  |  |  | — |  |  | 138 |  |  |  |  | 2,333 |  |  | — |
Total commercial real estate | — |  |  | 2,195 |  |  |  |  | — |  |  | 138 |  |  |  |  | 2,333 |  |  | — |
Consumer mortgages | — |  |  | — |  |  |  |  | 11,361 |  |  | — |  |  |  |  | 11,361 |  |  | 0.2 |
Other consumer loans | 229 |  |  | 2,987 |  |  |  |  | 18 |  |  | 27 |  |  |  |  | 3,261 |  |  | 0.3 |
Total consumer | 229 |  |  | 2,987 |  |  |  |  | 11,379 |  |  | 27 |  |  |  |  | 14,622 |  |  | 0.2 |
Total FDMs | $ | 229 |  |  | $ | 29,330 |  |  |  |  | $ | 32,851 |  |  | $ | 251 |  |  |  |  | $ | 62,661 |  |  | 0.1 | %
| Three Months Ended September 30, 2024
(in thousands) | Interest Rate Reduction |  | Term Extension |  |  |  | Payment Delay |  | Interest Rate Reduction and Term Extension |  |  |  | Total |  | Percentage of Total by Financing Class
Investment properties | $ | 74,269 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 74,269 |  |  | 0.7 | %
Total commercial real estate | 74,269 |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  | 74,269 |  |  | 0.6 |
Other consumer loans | 24 |  |  | 118 |  |  |  |  | — |  |  | 10 |  |  |  |  | 152 |  |  | — |
Total consumer | 24 |  |  | 118 |  |  |  |  | — |  |  | 10 |  |  |  |  | 152 |  |  | — |
Total FDMs | $ | 74,293 |  |  | $ | 118 |  |  |  |  | $ | — |  |  | $ | 10 |  |  |  |  | $ | 74,421 |  |  | 0.2 | %
| Nine Months Ended September 30, 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 | $ | — |  |  | $ | 7,130 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 7,130 |  |  | — | %
Owner-occupied | — |  |  | 188 |  |  |  |  | — |  |  | — |  |  |  |  | 188 |  |  | — |
Total commercial and industrial | — |  |  | 7,318 |  |  |  |  | — |  |  | — |  |  |  |  | 7,318 |  |  | — |
Investment properties | 74,269 |  |  | 2,227 |  |  |  |  | — |  |  | — |  |  |  |  | 76,496 |  |  | 0.7 |
Total commercial real estate | 74,269 |  |  | 2,227 |  |  |  |  | — |  |  | — |  |  |  |  | 76,496 |  |  | 0.6 |
Consumer mortgages | 122 |  |  | — |  |  |  |  | 209 |  |  | — |  |  |  |  | 331 |  |  | — |
Other consumer loans | 197 |  |  | 553 |  |  |  |  | — |  |  | 10 |  |  |  |  | 760 |  |  | 0.1 |
Total consumer | 319 |  |  | 553 |  |  |  |  | 209 |  |  | 10 |  |  |  |  | 1,091 |  |  | — |
Total FDMs | $ | 74,588 |  |  | $ | 10,098 |  |  |  |  | $ | 209 |  |  | $ | 10 |  |  |  |  | $ | 84,905 |  |  | 0.2 | %
The following tables present the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and 2024.
|  |  | Three Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2025
(dollars in thousands) |  |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (in months) |  | Weighted Average Payment Delay (in months) |  |  |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (in months) |  | Weighted Average Payment Delay (in months)
Commercial, financial and agricultural |  |  | 1.8 | % |  | 4 |  | — |  |  |  |  | 1.8 | % |  | 8 |  | 14
Owner-occupied |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 4 |  | — |
Investment properties |  |  | — |  |  | 33 |  | — |  |  |  |  | 2.0 |  |  | 32 |  | — |
Consumer mortgages |  |  | — |  |  | — |  |  | 4 |  |  |  | — |  |  | — |  |  | 5
Other consumer loans |  |  | 6.0 |  |  | 48 |  | — |  |  |  |  | 2.8 |  |  | 136 |  | 12
|  |  | Three Months Ended September 30, 2024 |  |  |  | Nine Months Ended September 30, 2024
(dollars in thousands) |  |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (in months) |  |  |  |  |  | Weighted Average Interest Rate Reduction |  | Weighted Average Term Extension (in months) |  | Weighted Average Payment Deferral (in months)
Commercial, financial and agricultural |  |  | — | % |  | — |  |  |  |  |  |  | — | % |  | 12 |  | — |
Owner-occupied |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 60 |  | — |
Investment properties |  |  | 1.2 |  |  | — |  |  |  |  |  |  | 1.2 |  |  | 12 |  | — |
Consumer mortgages |  |  | — |  |  | — |  |  |  |  |  |  | 2.3 |  |  | — |  |  | 7
Other consumer loans |  |  | 7.2 |  |  | 57 |  |  |  |  |  | 4.5 |  |  | 70 |  | — |
During the three and nine months ended September 30, 2025, there were no material FDMs that subsequently defaulted. During the three months ended September 30, 2024, there were no material FDMs that subsequently defaulted, and during the nine months ended September 30, 2024, commercial, financial and agricultural loans of $74.7 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 September 30, 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 September 30, 2025 and September 30, 2024, respectively.
| As of September 30, 2025
(in thousands) | Current |  | Accruing 30-89 Days Past Due |  |  |  |  |  | Non-accrual |  | Total
Commercial, financial and agricultural | $ | 41,562 |  |  | $ | — |  |  |  |  |  |  | $ | 816 |  |  | $ | 42,378 |
Owner-occupied | 4,031 |  |  | — |  |  |  |  |  |  | — |  |  | 4,031 |
Total commercial and industrial | 45,593 |  |  | — |  |  |  |  |  |  | 816 |  |  | 46,409 |
Investment properties | 2,333 |  |  | — |  |  |  |  |  |  | — |  |  | 2,333 |
Total commercial real estate | 2,333 |  |  | — |  |  |  |  |  |  | — |  |  | 2,333 |
Consumer mortgages | 1,501 |  |  | — |  |  |  |  |  |  | 11,511 |  |  | 13,012 |
Other consumer loans | 2,789 |  |  | 139 |  |  |  |  |  |  | 375 |  |  | 3,303 |
Total consumer | 4,290 |  |  | 139 |  |  |  |  |  |  | 11,886 |  |  | 16,315 |
Total FDMs | $ | 52,216 |  |  | $ | 139 |  |  |  |  |  |  | $ | 12,702 |  |  | $ | 65,057 |
| As of September 30, 2024
(in thousands) | Current |  | Accruing 30-89 Days Past Due |  |  |  |  |  | Non-accrual |  | Total
Commercial, financial and agricultural | $ | 26,239 |  |  | $ | 1,005 |  |  |  |  |  |  | $ | 355 |  |  | $ | 27,599 |
Owner-occupied | 2,745 |  |  | — |  |  |  |  |  |  | 250 |  |  | 2,995 |
Total commercial and industrial | 28,984 |  |  | 1,005 |  |  |  |  |  |  | 605 |  |  | 30,594 |
Investment properties | 44,100 |  |  | — |  |  |  |  |  |  | 32,397 |  |  | 76,497 |
Total commercial real estate | 44,100 |  |  | — |  |  |  |  |  |  | 32,397 |  |  | 76,497 |
Consumer mortgages | — |  |  | — |  |  |  |  |  |  | 331 |  |  | 331 |
Other consumer loans | 539 |  |  | 106 |  |  |  |  |  |  | 229 |  |  | 874 |
Total consumer | 539 |  |  | 106 |  |  |  |  |  |  | 560 |  |  | 1,205 |
Total FDMs | $ | 73,623 |  |  | $ | 1,111 |  |  |  |  |  |  | $ | 33,562 |  |  | $ | 108,296 |

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