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Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Estimated Fair Value on a Recurring Basis

The following table presents assets and liabilities measured at estimated fair value on a recurring basis.

			September 30, 2025																											December 31, 2024
(in thousands)			Level 1						Level 2						Level 3						Total Estimated Fair Value									Level 1						Level 2						Level 3						Total Estimated Fair Value
Assets
Trading securities:
U.S. Treasury securities			$	2,004					$	—					$	—					$	2,004								$	—					$	—					$	—					$	—
State and municipal securities			—						658						—						658									—						473						—						473
Asset-backed securities			—						18,524						—						18,524									—						9,240						—						9,240
Other investments			—						3						—						3									—						—						—						—
Total trading securities			$	2,004					$	19,185					$	—					$	21,189								$	—					$	9,713					$	—					$	9,713
Investment securities available for sale:
U.S. Treasury securities			$	1,221,154					$	—					$	—					$	1,221,154								$	1,212,742					$	—					$	—					$	1,212,742
U.S. Government agency securities			—						29,857						—						29,857									—						29,163						—						29,163
Mortgage-backed securities issued by U.S. Government agencies			—						1,429,706						—						1,429,706									—						1,462,790						—						1,462,790
Mortgage-backed securities issued by U.S. Government sponsored enterprises			—						2,006,151						—						2,006,151									—						2,034,035						—						2,034,035
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises			—						519,199						—						519,199									—						550,201						—						550,201
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises			—						2,360,210						—						2,360,210									—						2,253,116						—						2,253,116
Corporate debt securities and other debt securities			—						9,191						—						9,191									—						8,971						—						8,971
Total investment securities available for sale			$	1,221,154					$	6,354,314					$	—					$	7,575,468								$	1,212,742					$	6,338,276					$	—					$	7,551,018
Mortgage loans held for sale			$	—					$	41,083					$	—					$	41,083								$	—					$	33,448					$	—					$	33,448
Other investments			—						—						18,012						18,012									—						—						14,831						14,831
Mutual funds and mutual funds held in rabbi trusts			72,883						—						—						72,883									63,371						—						—						63,371
Derivative assets			—						85,822						—						85,822									—						83,895						—						83,895
Liabilities
Mutual funds held in rabbi trusts			57,339						—						—						57,339									48,351						—						—						48,351
Derivative liabilities(1)			—						117,994						—						117,994									—						216,325						—						216,325

(1)    Excludes from Level 3 the Visa derivative of $3.0 million and $64 thousand at September 30, 2025 and December 31, 2024, respectively. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" of Synovus' 2024 Form 10-K for discussion of fair value accounting related to this in the Derivative Instruments section.

Schedule of Mortgage Loans Held for Sale and Changes in Fair Value Included in Net Income

The following table summarizes the difference between the fair value and the UPB of mortgage loans held for sale and the changes in fair value of these loans. An immaterial portion of these changes in fair value was attributable to instrument-specific credit risk.

Mortgage Loans Held for Sale
(in thousands)			As of September 30, 2025						As of December 31, 2024
Fair value			$	41,083					$	33,448
Unpaid principal balance			39,819						32,770
Fair value less aggregate unpaid principal balance			$	1,264					$	678

Changes in Fair Value Included in Net Income			Three Months Ended September 30,												Nine Months Ended September 30,												Location in Consolidated Statements of Income
(in thousands)			2025						2024						2025						2024
Mortgage loans held for sale			$	(283)					$	205					$	586					$	(569)					Mortgage banking income

Schedule of Level 3 Assets Measured at Fair Value on a Recurring Basis

The following tables provide rollforwards of Level 3 assets measured at fair value on a recurring basis.

												Three Months Ended September 30, 2025
(in thousands)												Other Investments
Ending balance at June 30, 2025												$	16,899
Total gains (losses) realized/unrealized:
Included in earnings												(36)
Additions												1,149
Ending balance at September 30, 2025												$	18,012
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at September 30, 2025												$	(36)
									Three Months Ended September 30, 2024
(in thousands)												Other Investments
Beginning balance at June 30, 2024												$	14,423
Total gains (losses) realized/unrealized:
Included in earnings												236
Additions												52
Ending balance at September 30, 2024												$	14,711
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at September 30, 2024												$	236

												Nine Months Ended September 30, 2025
(in thousands)												Other Investments
Beginning balance at December 31, 2024												$	14,831
Total gains (losses) realized/unrealized:
Included in earnings												406
Additions												2,775
Ending balance at September 30, 2025												$	18,012
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at September 30, 2025												$	406
												Nine Months Ended September 30, 2024
(in thousands)												Other Investments
Beginning balance at December 31, 2023												$	12,560
Total gains (losses) realized/unrealized:
Included in earnings												671
Additions												1,480
Ending balance at September 30, 2024												$	14,711
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at September 30, 2024												$	671

Schedule of Assets Measured at Fair Value on a Non-Recurring Basis

The following table presents assets measured at fair value on a non-recurring basis, as of the dates indicated, for which there was a fair value adjustment.

			September 30, 2025																					Fair Value Adjustments(1) for the
(in thousands)			Level 1						Level 2						Level 3									Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
Loans			$	—					$	—					$	6,173								$	2,125					$	11,506
			September 30, 2024																					Fair Value Adjustments(1) for the
			Level 1						Level 2						Level 3									Three Months Ended September 30, 2024						Nine Months Ended September 30, 2024
Loans			$	—					$	—					$	54,713								$	10,085					$	19,367

(1) Fair value adjustments represent charge-offs on collateral-dependent loans that were written down to fair value of collateral based on the appraised value less selling costs of the collateral.

Schedule of Carrying and Estimated Fair Values of Financial Instruments

The following tables present the carrying and estimated fair values of financial instruments at September 30, 2025 and December 31, 2024. The fair values represent management’s best estimates based on a range of methodologies and assumptions. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" to the consolidated financial statements of Synovus' 2024 Form 10-K for a description of how fair value measurements are determined.

			September 30, 2025
(in thousands)			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Financial assets
Total cash, cash equivalents, and restricted cash			$	2,274,207					$	2,274,207					$	2,274,207					$	—					$	—
Trading securities			21,189						21,189						2,004						19,185						—
Investment securities held to maturity			2,450,885						2,466,265						—						2,466,265						—
Investment securities available for sale			7,575,468						7,575,468						1,221,154						6,354,314						—
Loans held for sale			147,811						147,455						—						41,083						106,372
Other investments			18,012						18,012						—						—						18,012
Mutual funds and mutual funds held in rabbi trusts			72,883						72,883						72,883						—						—
Loans, net (1)			43,283,713						42,497,996						—						—						42,497,996
FRB and FHLB stock			240,959						240,959						—						240,959						—
Derivative assets			85,822						85,822						—						85,822						—
Financial liabilities
Non-interest-bearing deposits			$	11,053,423					$	11,053,423					$	—					$	11,053,423					$	—
Non-time interest-bearing deposits			29,949,544						29,949,544						—						29,949,544						—
Time deposits			9,000,762						8,977,638						—						8,977,638						—
Total deposits (2)			$	50,003,729					$	49,980,605					$	—					$	49,980,605					$	—
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings			62,467						62,467						62,467						—						—
Long-term debt			3,008,195						3,051,093						—						3,051,093						—
Mutual funds held in rabbi trusts			57,339						57,339						57,339						—						—
Derivative liabilities(3)			117,994						117,994						—						117,994						—

(1) Synovus estimates the fair value of loans based on present value of the future cash flows using the interest rate that would be charged for a similar loan to a borrower with similar risk, adjusted for a discount based on the estimated time period to complete a sale transaction with a market participant.    

(2) The fair value of deposits with no stated maturity, such as non-interest-bearing demand, interest-bearing demand, money market, and savings accounts reflects the carrying amount which is payable on demand, as of the respective date, and may not align with other valuation methods or processes. The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

(3)    Excludes from Level 3 the Visa derivative of $3.0 million at September 30, 2025. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" of Synovus' 2024 Form 10-K for discussion of fair value accounting related to this in the Derivative Instruments section.

			December 31, 2024
(in thousands)			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Financial assets
Total cash, cash equivalents, and restricted cash			$	2,993,987					$	2,993,987					$	2,993,987					$	—					$	—
Trading securities			9,713						9,713						—						9,713						—
Investment securities held to maturity			2,581,469						2,524,525						—						2,524,525						—
Investment securities available for sale			7,551,018						7,551,018						1,212,742						6,338,276						—
Loans held for sale			90,111						89,901						—						33,448						56,453
Other investments			14,831						14,831						—						—						14,831
Mutual funds and mutual funds held in rabbi trusts			63,371						63,371						63,371						—						—
Loans, net (1)			42,122,183						41,014,425						—						—						41,014,425
FRB and FHLB stock			164,374						164,374						—						164,374						—
Derivative assets			83,895						83,895						—						83,895						—
Financial liabilities
Non-interest-bearing deposits			$	11,596,119					$	11,596,119					$	—					$	11,596,119					$	—
Non-time interest-bearing deposits			29,883,378						29,883,378						—						29,883,378						—
Time deposits			9,615,862						9,587,417						—						9,587,417						—
Total deposits (2)			$	51,095,359					$	51,066,914					$	—					$	51,066,914					$	—
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings			131,728						131,728						131,728						—						—
Long-term debt			1,733,109						1,748,723						—						1,748,723						—
Mutual funds held in rabbi trusts			48,351						48,351						48,351						—						—
Derivative liabilities(3)			216,325						216,325						—						216,325						—

(1)     Synovus estimates the fair value of loans based on present value of the future cash flows using the interest rate that would be charged for a similar loan to a borrower with similar risk, adjusted for a discount based on the estimated time period to complete a sale transaction with a market participant.    

(2)    The fair value of deposits with no stated maturity, such as non-interest-bearing demand, interest-bearing demand, money market, and savings accounts reflects the carrying amount which is payable on demand, as of the respective date, and may not align with other valuation methods or processes. The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

(3)    Excludes from Level 3 the Visa derivative of $64 thousand at December 31, 2024. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" of Synovus' 2024 Form 10-K for discussion of fair value accounting related to this in the Derivative Instruments section.

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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