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Investment Securities
 9 Months Ended
Sep. 30, 2025
Investments [Abstract]  
Investment Securities
Note 2 - Investment Securities
The amortized cost, gross unrealized gains and losses, and estimated fair values of investment securities at September 30, 2025 and December 31, 2024 are summarized below.
September 30, 2025
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Investment securities held to maturity:
Mortgage-backed securities issued by U.S. Government sponsored enterprises$2,450,885 $15,380 $— $2,466,265 
Total investment securities held to maturity(1)
$2,450,885 $15,380 $— $2,466,265 
Investment securities available for sale:
U.S. Treasury securities$1,200,313 $20,841 $— $1,221,154 
U.S. Government agency securities29,995 — (138)29,857 
Mortgage-backed securities issued by U.S. Government agencies 1,504,894 13,884 (89,072)1,429,706 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,177,658 5,172 (176,679)2,006,151 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 603,527 — (84,328)519,199 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises2,337,343 44,194 (21,327)2,360,210 
Corporate debt securities and other debt securities9,185 6 — 9,191 
Total investment securities available for sale(2)
$7,862,915 $84,097 $(371,544)$7,575,468 
December 31, 2024
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Investment securities held to maturity:
Mortgage-backed securities issued by U.S. Government sponsored enterprises$2,581,469 $— $(56,944)$2,524,525 
Total investment securities held to maturity(1)
$2,581,469 $— $(56,944)$2,524,525 
Investment securities available for sale:
U.S. Treasury securities$1,214,363 $3,203 $(4,824)$1,212,742 
U.S. Government agency securities29,993 — (830)29,163 
Mortgage-backed securities issued by U.S. Government agencies 1,583,331 848 (121,389)1,462,790 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 2,294,700 250 (260,915)2,034,035 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 657,453 — (107,252)550,201 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises2,290,968 4,724 (42,576)2,253,116 
Corporate debt securities and other debt securities9,110 — (139)8,971 
Total investment securities available for sale(2)
$8,079,918 $9,025 $(537,925)$7,551,018 
(1) The amounts reported exclude accrued interest receivable on investment securities HTM of $5.4 million and $5.7 million at September 30, 2025 and December 31, 2024, respectively, which are presented as a component of other assets on the consolidated balance sheets. The amortized cost basis of investment securities HTM includes a discount of $(594.5) million and $(649.7) million at September 30, 2025 and December 31, 2024, respectively, related to the unamortized portion of unrealized losses on investment securities HTM.
(2) The amounts reported exclude accrued interest receivable on investment securities AFS of $29.4 million and $29.5 million at September 30, 2025 and December 31, 2024, respectively, which are presented as a component of other assets on the consolidated balance sheets.
At September 30, 2025, investment securities AFS and investment securities HTM with carrying values of $2.24 billion and $1.57 billion, respectively, were pledged to secure certain derivative contracts, deposits and other liabilities, as required by law or contractual agreements.            
At December 31, 2024, investment securities AFS and investment securities HTM with a carrying value of $2.83 billion and $2.45 billion, respectively, were pledged to secure certain deposits and other liabilities, as required by law or contractual agreements.        
Gross unrealized losses on investment securities AFS and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2025 and December 31, 2024 are presented below.
September 30, 2025
Less than 12 Months12 Months or LongerTotal
(in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. Government agency securities$— $— $29,857 $(138)$29,857 $(138)
Mortgage-backed securities issued by U.S. Government agencies — — 611,363 (89,072)611,363 (89,072)
Mortgage-backed securities issued by U.S. Government sponsored enterprises — — 1,600,160 (176,679)1,600,160 (176,679)
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 28,151 (176)491,047 (84,152)519,198 (84,328)
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises— — 352,978 (21,327)352,978 (21,327)
Total$28,151 $(176)$3,085,405 $(371,368)$3,113,556 $(371,544)
December 31, 2024
Less than 12 Months12 Months or LongerTotal
(in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. Treasury securities$716,367 $(4,824)$— $— $716,367 $(4,824)
U.S. Government agency securities— — 29,163 (830)29,163 (830)
Mortgage-backed securities issued by U.S. Government agencies 716,268 (8,431)577,468 (112,958)1,293,736 (121,389)
Mortgage-backed securities issued by U.S. Government sponsored enterprises 456,887 (12,503)1,542,618 (248,412)1,999,505 (260,915)
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 29,040 (820)521,161 (106,432)550,201 (107,252)
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises1,060,903 (10,624)276,850 (31,952)1,337,753 (42,576)
Corporate debt securities and other debt securities— — 8,971 (139)8,971 (139)
Total$2,979,465 $(37,202)$2,956,231 $(500,723)$5,935,696 $(537,925)
As of September 30, 2025, Synovus had 1 investment security AFS in a loss position for less than 12 months and 220 investment securities AFS in a loss position for 12 months or longer. As of September 30, 2025, Synovus does not intend to sell investment securities AFS in an unrealized loss position prior to the recovery of the unrealized loss, which may not be until maturity. Additionally, Synovus is not currently aware of any circumstances which will require it to sell any of the AFS securities that are in an unrealized loss position prior to the respective securities' recovery of all such unrealized losses. As such, no write-downs to the amortized cost basis of the portfolio were recorded at September 30, 2025.
At September 30, 2025, no ACL was established for investment securities AFS. Substantially all of the unrealized losses on the securities portfolio were the result of changes in market interest rates compared to the date the securities were acquired rather than the credit quality of the issuers or underlying loans. U.S. Treasury and agency securities and agency mortgage-backed securities are issued, guaranteed or otherwise supported by the United States government, an agency of the United States government, or a government sponsored enterprise.
As of September 30, 2025, all investment securities HTM were rated investment grade or supported by U.S. government agencies and have no history of credit losses supporting the application of a zero-credit loss assumption and no allowance for credit losses.
The amortized cost and fair value by contractual maturity of investment securities HTM and investment securities AFS at September 30, 2025 are shown below. The expected life of MBSs or CMOs may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, MBSs and CMOs, which are not due at a single maturity date, have been classified based on the final contractual maturity date.
September 30, 2025
(in thousands)Within One
 Year		1 to 5
Years		5 to 10
 Years		More Than
 10 Years		Total
Investment securities HTM
Mortgage-backed securities issued by U.S. Government sponsored enterprises
Amortized cost$— $— $— $2,450,885 $2,450,885 
Fair value— — — 2,466,265 2,466,265 
Investment securities AFS
U.S. Treasury securities
Amortized cost$211,755 $909,695 $78,863 $— $1,200,313 
Fair value212,743 927,008 81,403 — 1,221,154 
U.S. Government agency securities
Amortized cost— 29,995 — — 29,995 
Fair value— 29,857 — — 29,857 
Mortgage-backed securities issued by U.S. Government agencies
Amortized cost— 29 2 1,504,863 1,504,894 
Fair value— 28 2 1,429,676 1,429,706 
Mortgage-backed securities issued by U.S. Government sponsored enterprises
Amortized cost— — — 2,177,658 2,177,658 
Fair value— — — 2,006,151 2,006,151 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises
Amortized cost— 7 7,324 596,196 603,527 
Fair value— 7 7,225 511,967 519,199 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises
Amortized cost54,439 1,495,206 770,975 16,723 2,337,343 
Fair value53,261 1,509,841 782,568 14,540 2,360,210 
Corporate debt securities and other debt securities
Amortized cost— 9,185 — — 9,185 
Fair value— 9,191 — — 9,191 
Gross gains and gross losses on sales of investment securities AFS for the three and nine months ended September 30, 2025 and 2024 are presented below. The specific identification method is used to reclassify gains and losses out of other comprehensive income (loss) at the time of sale.
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2025202420252024
Gross realized gains on sales$1,742 $— $1,742 $— 
Gross realized losses on sales— — — (256,660)
Investment securities gains (losses), net$1,742 $— $1,742 $(256,660)