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Loans and Allowance for Loan Losses
 9 Months Ended
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)CurrentAccruing 30-89 Days Past Due
Accruing 90 Days or Greater Past Due
Total Accruing Past Due
Non-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$15,263,978 $5,155 $1,995 $7,150 $84,282 $4,813 $15,360,223 
Owner-occupied7,853,267 5,702 — 5,702 9,420 357 7,868,746 
Total commercial and industrial23,117,245 10,857 1,995 12,852 93,702 5,170 23,228,969 
Investment properties11,424,644 1,652 — 1,652 34,768 1,043 11,462,107 
1-4 family properties545,699 484 — 484 2,144 — 548,327 
Land and development258,154 440 — 440 712 — 259,306 
Total commercial real estate12,228,497 2,576 — 2,576 37,624 1,043 12,269,740 
Consumer mortgages5,186,944 5,746 — 5,746 44,414 579 5,237,683 
Home equity1,811,056 10,106 164 10,270 20,189 611 1,842,126 
Credit cards173,199 1,526 1,642 3,168 — — 176,367 
Other consumer loans982,783 9,571 — 9,571 5,995 — 998,349 
Total consumer8,153,982 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)CurrentAccruing 30-89 Days Past DueAccruing 90 Days or Greater Past DueTotal Accruing Past DueNon-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$14,352,839 $12,947 $10,332 $23,279 $98,145 $24,729 $14,498,992 
Owner-occupied7,754,052 7,700 36,005 43,705 21,119 13,261 7,832,137 
Total commercial and industrial22,106,891 20,647 46,337 66,984 119,264 37,990 22,331,129 
Investment properties11,105,168 2,006 — 2,006 74,030 — 11,181,204 
1-4 family properties541,897 1,636 — 1,636 2,385 — 545,918 
Land and development284,793 1,113 202 1,315 1,389 — 287,497 
Total commercial real estate11,931,858 4,755 202 4,957 77,804 — 12,014,619 
Consumer mortgages5,228,580 9,362 — 9,362 50,834 — 5,288,776 
Home equity1,800,614 13,131 177 13,308 17,365 — 1,831,287 
Credit cards182,435 1,573 1,863 3,436 — — 185,871 
Other consumer loans940,608 10,818 13 10,831 5,907 — 957,346 
Total consumer8,152,237 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 YearRevolving Loans
(in thousands)20252024202320222021PriorAmortized Cost BasisConverted to Term LoansTotal
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 Mention1,483 36,679 7,102 4,784 10,467 5,689 86,299 1,586 154,089 
Substandard23,326 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 agricultural1,359,041 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-offs673 10,635 4,101 1,179 685 2,309 14,730 — 34,312 
Owner-occupied
Pass863,602 777,456 855,400 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 
Substandard3,886 2,789 19,598 47,696 19,716 88,071 6,581 — 188,337 
Total owner-occupied867,488 780,245 876,673 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 industrial2,226,529 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 $— $38,228 
Investment properties
Pass1,472,274 991,058 719,592 2,940,576 1,929,505 2,782,514 137,662 — 10,973,181 
Special Mention15,681 4,509 5,009 213,604 123,914 32,643 — — 395,360 
Substandard3,113 1,321 5,835 9,404 41,750 32,138 — — 93,561 
Loss— — — — — 5 — — 5 
Total investment properties1,491,068 996,888 730,436 3,163,584 2,095,169 2,847,300 137,662 — 11,462,107 
Current YTD Period:
Gross charge-offs— — — 206 18,544 — — — 18,750 
1-4 family properties
Pass141,900 96,500 57,123 79,910 74,215 63,675 26,206 — 539,529 
Special Mention193 — 750 779 — 119 — — 1,841 
Substandard375 995 346 2,028 251 2,962 — — 6,957 
Total 1-4 family properties142,468 97,495 58,219 82,717 74,466 66,756 26,206 — 548,327 
Current YTD Period:
Gross charge-offs— — 110 129 — 5 — — 244 
September 30, 2025
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20252024202320222021PriorAmortized Cost BasisConverted to Term LoansTotal
Land and development
Pass43,901 49,035 28,375 33,199 23,312 56,313 22,429 — 256,564 
Special Mention— — 704 — — 267 — — 971 
Substandard— — 992 — 46 733 — — 1,771 
Total land and development43,901 49,035 30,071 33,199 23,358 57,313 22,429 — 259,306 
Current YTD Period:
Gross charge-offs— — 217 — — — — — 217 
Total commercial real estate1,677,437 1,143,418 818,726 3,279,500 2,192,993 2,971,369 186,297 — 12,269,740 
Current YTD Period:
Gross charge-offs$— $— $327 $335 $18,544 $5 $— $— $19,211 
Consumer mortgages
Pass371,832 423,243 610,239 622,005 874,524 2,271,659 — — 5,173,502 
Substandard380 386 3,051 6,326 7,204 46,797 — — 64,144 
Loss— — — — — 37 — — 37 
Total consumer mortgages372,212 423,629 613,290 628,331 881,728 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
Pass185,915 98,124 63,872 89,890 108,887 135,810 308,754 — 991,252 
Substandard395 928 955 1,337 2,127 1,298 57 — 7,097 
Total other consumer loans186,310 99,052 64,827 91,227 111,014 137,108 308,811 — 998,349 
Current YTD Period:
Gross charge-offs791 2,695 3,686 1,979 3,066 4,061 922 — 17,200 
Total consumer558,522 522,681 678,117 719,558 992,742 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 YearRevolving Loans
(in thousands)20242023202220212020PriorAmortized Cost BasisConverted to Term LoansTotal
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 Mention1,555 20,255 17,775 18,403 2,464 36,817 158,968 — 256,237 
Substandard20,920 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 agricultural1,223,336 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-offs7,696 16,499 3,786 8,787 997 4,413 53,736 — 95,914 
Owner-occupied
Pass691,899 981,593 1,468,946 1,220,421 872,744 1,621,387 619,519 — 7,476,509 
Special Mention1,099 2,466 65,733 5,397 34,244 12,621 — — 121,560 
Substandard2,568 5,838 34,147 20,698 49,766 65,147 55,904 — 234,068 
Total owner-occupied695,566 989,897 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 industrial1,918,902 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 $— $119,388 
Investment properties
Pass769,775 642,808 3,306,914 2,406,325 898,363 2,405,650 227,460 — 10,657,295 
Special Mention4,583 2,211 97,443 200,780 — 68,559 — — 373,576 
Substandard— 1,689 10,093 83,795 1,466 13,884 — — 110,927 
Doubtful— — — 39,401 — — — — 39,401 
Loss— — — — — 5 — — 5 
Total investment properties774,358 646,708 3,414,450 2,730,301 899,829 2,488,098 227,460 — 11,181,204 
Current YTD Period:
Gross charge-offs— — 527 4,752 — 4,602 — — 9,881 
1-4 family properties
Pass159,008 79,094 95,050 81,630 28,845 53,167 40,133 — 536,927 
Special Mention— — 1,060 663 169 1,300 — — 3,192 
Substandard919 840 1,618 233 287 1,857 45 — 5,799 
Total 1-4 family properties159,927 79,934 97,728 82,526 29,301 56,324 40,178 — 545,918 
Current YTD Period:
Gross charge-offs— 103 — — — 143 — — 246 
Land and development
Pass55,564 87,465 54,214 26,002 4,933 41,749 14,798 — 284,725 
Special Mention— 138 — 25 — 390 — — 553 
Substandard— 1,347 — — 153 719 — — 2,219 
Total land and development55,564 88,950 54,214 26,027 5,086 42,858 14,798 — 287,497 
Current YTD Period:
Gross charge-offs— — — — 35 22 — — 57 
Total commercial real estate989,849 815,592 3,566,392 2,838,854 934,216 2,587,280 282,436 — 12,014,619 
Current YTD Period:
Gross charge-offs$— $103 $527 $4,752 $35 $4,767 $— $— $10,184 
December 31, 2024
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20242023202220212020PriorAmortized Cost BasisConverted to Term LoansTotal
Consumer mortgages
Pass$457,176 $681,844 $670,652 $947,395 $1,119,610 $1,341,463 $25 $— $5,218,165 
Substandard190 1,872 5,590 7,117 17,918 37,895 — — 70,582 
Loss— — — — — 29 — — 29 
Total consumer mortgages457,366 683,716 676,242 954,512 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
Pass150,051 81,087 119,274 144,297 78,961 91,802 284,801 — 950,273 
Substandard310 1,046 1,298 2,692 1,132 524 59 — 7,061 
Loss— — — — — — 12 — 12 
Total other consumer loans150,361 82,133 120,572 146,989 80,093 92,326 284,872 — 957,346 
Current YTD Period:
Gross charge-offs576 3,740 4,840 7,601 2,140 2,509 2,315 — 23,721 
Total consumer607,727 765,849 796,814 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 & IndustrialCommercial Real EstateConsumerTotal
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)
Recoveries1,962 53 2,727 4,742 
Provision for (reversal of) loan losses13,468 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 & IndustrialCommercial Real EstateConsumerTotal
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)
Recoveries5,094 333 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 & IndustrialCommercial Real EstateConsumerTotal
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)
Recoveries17,674 1,172 7,791 26,637 
Provision for (reversal of) loan losses19,051 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 & IndustrialCommercial Real EstateConsumerTotal
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)
Recoveries12,971 1,562 6,539 21,072 
Provision for (reversal of) loan losses61,933 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 ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage 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 loans24 1,580 — — 1,604 0.2 
Total consumer24 1,580 3,241 — 4,845 0.1 
Total FDMs$24 $9,486 $3,241 $86 $12,837 — %
Nine Months Ended September 30, 2025
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$— $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 loans229 2,987 18 27 3,261 0.3 
Total consumer229 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 ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Investment properties$74,269 $— $— $— $74,269 0.7 %
Total commercial real estate74,269 — — — 74,269 0.6 
Other consumer loans24 118 — 10 152 — 
Total consumer24 118 — 10 152 — 
Total FDMs$74,293 $118 $— $10 $74,421 0.2 %
Nine Months Ended September 30, 2024
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$— $7,130 $— $— $7,130 — %
Owner-occupied— 188 — — 188 — 
Total commercial and industrial— 7,318 — — 7,318 — 
Investment properties74,269 2,227 — — 76,496 0.7 
Total commercial real estate74,269 2,227 — — 76,496 0.6 
Consumer mortgages122 — 209 — 331 — 
Other consumer loans197 553 — 10 760 0.1 
Total consumer319 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, 2025Nine Months Ended September 30, 2025
(dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Delay
(in months)		Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Delay
(in months)
Commercial, financial and agricultural1.8 %4— 1.8 %814
Owner-occupied— — — — 4— 
Investment properties— 33— 2.0 32— 
Consumer mortgages— — 4— — 5
Other consumer loans6.0 48— 2.8 13612
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
(dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Deferral
(in months)
Commercial, financial and agricultural— %— — %12— 
Owner-occupied— — — 60— 
Investment properties1.2 — 1.2 12— 
Consumer mortgages— — 2.3 — 7
Other consumer loans7.2 574.5 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)CurrentAccruing 30-89 Days Past DueNon-accrual Total
Commercial, financial and agricultural$41,562 $— $816 $42,378 
Owner-occupied4,031 — — 4,031 
Total commercial and industrial45,593 — 816 46,409 
Investment properties2,333 — — 2,333 
Total commercial real estate2,333 — — 2,333 
Consumer mortgages1,501 — 11,511 13,012 
Other consumer loans2,789 139 375 3,303 
Total consumer4,290 139 11,886 16,315 
Total FDMs$52,216 $139 $12,702 $65,057 
As of September 30, 2024
(in thousands)CurrentAccruing 30-89 Days Past DueNon-accrual Total
Commercial, financial and agricultural$26,239 $1,005 $355 $27,599 
Owner-occupied2,745 — 250 2,995 
Total commercial and industrial28,984 1,005 605 30,594 
Investment properties44,100 — 32,397 76,497 
Total commercial real estate44,100 — 32,397 76,497 
Consumer mortgages— — 331 331 
Other consumer loans539 106 229 874 
Total consumer539 106 560 1,205 
Total FDMs$73,623 $1,111 $33,562 $108,296