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Condensed Financial Information of Synovus Financial Corp. (Parent Company only)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Synovus Financial Corp. (Parent Company only)
Note 18 - Condensed Financial Information of Synovus Financial Corp. (Parent Company only)
Condensed Balance Sheets
December 31,
(in thousands)20252024
Assets
Cash due from bank subsidiary$513,948 $859,336 
Funds due from other depository institutions
1,340 1,201 
     Total cash, cash equivalents, and restricted cash515,288 860,537 
Investment in consolidated bank subsidiary, at equity
5,825,212 5,177,551 
Investment in consolidated non-bank subsidiaries, at equity
167,172 140,793 
Note receivable from bank subsidiary
200,000 200,000 
Other assets
51,104 28,106 
Total assets$6,758,776 $6,406,987 
Liabilities and Shareholders' Equity
Liabilities:
Long-term debt
$717,055 $1,046,950 
Other liabilities
48,554 115,480 
Total liabilities
765,609 1,162,430 
Shareholders’ equity:
Preferred stock
537,145 537,145 
Common stock
172,815 172,186 
Additional paid-in capital
4,008,677 3,986,729 
Treasury stock
(1,359,054)(1,216,827)
Accumulated other comprehensive income (loss), net
(628,261)(970,765)
Retained earnings
3,261,845 2,736,089 
Total shareholders’ equity
5,993,167 5,244,557 
Total liabilities and shareholders’ equity
$6,758,776 $6,406,987 
Condensed Statements of Income
Years Ended December 31,
(in thousands)202520242023
Income
Cash dividends received from subsidiaries
$550,000 $450,000 $435,000 
Interest income
8,914 6,175 6,129 
Other income (loss)
(93)167 (101)
Total income
558,821 456,342 441,028 
Expense
Interest expense
73,218 49,424 36,849 
Other expense
41,090 19,179 12,494 
Total expense
114,308 68,603 49,343 
Income before income taxes and equity in undistributed income of subsidiaries    
444,513 387,739 391,685 
Allocated income tax benefit
(33,434)(13,287)(10,026)
Income before equity in undistributed income of subsidiaries    
477,947 401,026 401,711 
Equity in undistributed income (loss) of subsidiaries
314,033 81,434 141,994 
Net income791,980 482,460 543,705 
Dividends on preferred stock
45,325 42,903 35,950 
Net income available to common shareholders
$746,655 $439,557 $507,755 
Condensed Statements of Comprehensive Income
Years Ended December 31,
202520242023
(in thousands)
Net of Tax AmountNet of Tax AmountNet of Tax Amount
Net income$791,980 $482,460 $543,705 
Other comprehensive gain (loss) of bank subsidiary
342,504 146,308 325,044 
Other comprehensive income (loss)
342,504 146,308 325,044 
Comprehensive income (loss)
$1,134,484 $628,768 $868,749 
Condensed Statements of Cash Flows
Years Ended December 31,
(in thousands)202520242023
Operating Activities
Net income
$791,980 $482,460 $543,705 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed (income) loss of subsidiaries
(314,033)(81,434)(141,994)
Deferred income tax expense (benefit)
(7,777)1,090 433 
Net increase (decrease) in other liabilities
(1,543)17,071 4,849 
Net (increase) decrease in other assets
(3,943)(355)(4,676)
Other, net
1,215 1,111 1,616 
Net cash provided by (used in) operating activities
465,899 419,943 403,933 
Investing Activities
Advance of long-term note receivable due from bank subsidiary— (100,000)— 
Increase in other investments(2,775)(1,630)(774)
Net cash provided by (used in) investing activities
(2,775)(101,630)(774)
Financing Activities
Dividends paid to common and preferred shareholders
(316,146)(260,824)(252,011)
Repurchase of common stock
(142,227)(272,343)— 
Repayments and redemption of long-term debt
(350,000)— (97,033)
Proceeds from issuance of long-term debt, net
— 496,791 — 
Net cash provided by (used in) financing activities
(808,373)(36,376)(349,044)
Increase (decrease) in cash, cash equivalents, and restricted cash
(345,249)281,937 54,115 
Cash, cash equivalents, and restricted cash at beginning of year
860,537 578,600 524,485 
Cash, cash equivalents, and restricted cash at end of year$515,288 $860,537 $578,600 
See accompanying notes to the audited consolidated financial statements.