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Fair Value Accounting (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis
The following table presents all financial instruments measured at fair value on a recurring basis as of December 31, 2025 and 2024.
December 31, 2025December 31, 2024
(in thousands)Level 1Level 2Level 3Total Assets and Liabilities at Fair ValueLevel 1Level 2Level 3Total Assets and Liabilities at Fair Value
Assets
Trading securities:
U.S. Treasury securities$3,011 $— $— $3,011 $— $— $— $— 
State and municipal securities— — — — — 473 — 473 
Asset-backed securities— 12,390 — 12,390 — 9,240 — 9,240 
Total trading securities$3,011 $12,390 $— $15,401 $— $9,713 $— $9,713 
Investment securities available for sale:
U.S. Treasury securities$1,195,107 $— $— $1,195,107 $1,212,742 $— $— $1,212,742 
U.S. Government agency securities— — — — — 29,163 — 29,163 
Mortgage-backed securities issued by U.S. Government agencies— 1,387,953 — 1,387,953 — 1,462,790 — 1,462,790 
Mortgage-backed securities issued by U.S. Government sponsored enterprises— 1,961,794 — 1,961,794 — 2,034,035 — 2,034,035 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises— 506,647 — 506,647 — 550,201 — 550,201 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises— 2,359,571 — 2,359,571 — 2,253,116 — 2,253,116 
Corporate debt securities and other debt securities— — — — — 8,971 — 8,971 
Total investment securities available for sale$1,195,107 $6,215,965 $— $7,411,072 $1,212,742 $6,338,276 $— $7,551,018 
Mortgage loans held for sale$— $36,593 $— $36,593 $— $33,448 $— $33,448 
Other investments— — 17,980 17,980 — — 14,831 14,831 
Mutual funds and mutual funds held in rabbi trusts74,992 — — 74,992 63,371 — — 63,371 
Derivative assets— 83,960 — 83,960 — 83,895 — 83,895 
Liabilities
Mutual fund held in rabbi trusts59,345 — — 59,345 48,351 — — 48,351 
Derivative liabilities(1)
— 110,210 — 110,210 — 216,325 — 216,325 
(1)    Excludes from Level 3 the Visa derivative of $2.9 million and $64 thousand at December 31, 2025 and 2024, respectively. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" in this Report for discussion of fair value accounting related to this in the Derivative Instruments section.
Schedule of Changes in Fair Value Included in Net Income and Mortgage Loans Held for Sale
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.
Years Ended December 31,
(in thousands)202520242023
Changes in fair value included in net income:
Mortgage loans held for sale$384 $(1,033)$839 
Mortgage loans held for sale:
Fair value36,593 33,448 47,338 
Unpaid principal balance35,531 32,770 45,627 
Fair value less aggregate unpaid principal balance$1,062 $678 $1,711 
Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
During 2025 and 2024, Synovus did not have any transfers in or out of Level 3 in the fair value hierarchy.
(in thousands)Other Investments
Beginning balance at December 31, 2024$14,831 
Total gains (losses) realized/unrealized:
Included in earnings374 
Additions2,775 
Ending balance at December 31, 2025$17,980 
Total net gains (losses) for the year included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2025$374 
(in thousands)Other Investments
Beginning balance at December 31, 2023$12,560 
Total gains (losses) realized/unrealized:
Included in earnings641 
Additions1,630 
Ending balance at December 31, 2024$14,831 
Total net gains (losses) for the year included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2024$641 
Schedule of Valuation Techniques and Significant Unobservable Inputs Used to Measure Financial Instruments on a Recurring Basis and on a Non-Recurring Basis
The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a recurring basis.
December 31, 2025December 31, 2024
(dollars in thousands)Valuation TechniqueSignificant Unobservable InputLevel 3 Fair ValueRate/RangeLevel 3 Fair ValueRate/Range
Assets (liabilities) measured at fair value on a recurring basis
Other investmentsIndividual analysis of each investee companyMultiple factors, including but not limited to, current operations, financial condition, cash flows, evaluation of business management and financial plans, and recently executed financing transactions related to the investee companies$17,980N/A$14,831N/A
The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a non-recurring basis.
December 31, 2025December 31, 2024
Valuation TechniqueSignificant Unobservable Input
Range
(Weighted Average)(1)
Range
(Weighted Average)(1)
Assets (liabilities) measured at fair value on a non-recurring basis
LoansThird-party appraised value of collateral less estimated selling costsAppraised value
Estimated selling costs
0%-40% (14%) 0%-10% (7%)
0%-41% (29%) 0%-10% (7%)
(1)    The weighted average is the measure of central tendencies; it is not the value that management is using for the asset or liability.
Schedule of Assets Measured at Fair Value on a Non-Recurring Basis The following table presents items measured at fair value on a non-recurring basis still held as of the dates indicated for which there was a fair value adjustment.
December 31, 2025December 31, 2024
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Loans(1)
$— $— $5,407 $5,407 $— $— $58,416 $58,416 
Fair Value Adjustments(1) for the
Years Ended December 31,
(in thousands)20252024
Loans(1)
$5,325 $35,726 
(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 table presents the carrying and estimated fair values of financial instruments at December 31, 2025 and 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" of this Report for a description of how fair value measurements are determined.
December 31, 2025
(in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Financial assets
Total cash, cash equivalents, and restricted cash$2,537,705 $2,537,705 $2,537,705 $— $— 
Trading securities15,401 15,401 3,011 12,390 — 
Investment securities held to maturity2,409,184 2,419,349 — 2,419,349 — 
Investment securities available for sale7,411,072 7,411,072 1,195,107 6,215,965 — 
Loans held for sale106,221 106,022 — 36,593 69,429 
Other investments17,980 17,980 — — 17,980 
Mutual funds and mutual funds held in rabbi trusts74,992 74,992 74,992 — — 
Loans, net (1)
44,147,693 43,306,294 — — 43,306,294 
FRB and FHLB stock200,786 200,786 — 200,786 — 
Derivative assets83,960 83,960 — 83,960 — 
Financial liabilities
Non-interest-bearing deposits$11,201,939 $11,201,939 $— $11,201,939 $— 
Non-time interest-bearing deposits30,915,675 30,915,675 — 30,915,675 — 
Time deposits9,206,308 9,192,320 — 9,192,320 — 
Total deposits(2)
$51,323,922 $51,309,934 $— $51,309,934 $— 
Federal funds purchased and securities sold under repurchase agreements48,848 48,848 48,848 — — 
Long-term debt2,456,442 2,501,434 — 2,501,434 — 
Mutual fund held in rabbi trusts59,345 59,345 59,345 — — 
Derivative liabilities(3)
110,210 110,210 — 110,210 — 
(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 $2.9 million at December 31, 2025. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" in this Report for discussion of fair value accounting related to this in the Derivative Instruments section.
December 31, 2024
(in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Financial assets
Total cash, cash equivalents, and restricted cash$2,993,987 $2,993,987 $2,993,987 $— $— 
Trading securities9,713 9,713 — 9,713 — 
Investment securities held to maturity2,581,469 2,524,525 — 2,524,525 — 
Investment securities available for sale7,551,018 7,551,018 1,212,742 6,338,276 — 
Loans held for sale90,111 89,901 — 33,448 56,453 
Other investments14,831 14,831 — — 14,831 
Mutual funds and mutual funds held in rabbi trusts63,371 63,371 63,371 — — 
Loans, net(1)
42,122,183 41,014,425 — — 41,014,425 
FRB and FHLB stock164,374 164,374 — 164,374 — 
Derivative assets83,895 83,895 — 83,895 — 
Financial liabilities
Non-interest-bearing deposits$11,596,119 $11,596,119 $— $11,596,119 $— 
Non-time interest-bearing deposits29,883,378 29,883,378 — 29,883,378 — 
Time deposits9,615,862 9,587,417 — 9,587,417 — 
Total deposits(2)
$51,095,359 $51,066,914 $— $51,066,914 $— 
Federal funds purchased and securities sold under repurchase agreements131,728 131,728 131,728 — — 
Long-term debt1,733,109 1,748,723 — 1,748,723 — 
Mutual fund held in rabbi trusts48,351 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" in this Report for discussion of fair value accounting related to this in the Derivative Instruments section.